Joey Krug, co-chief investment officer at Pantera Capital, made an announcement earlier today that he expects the next bitcoin bull run to bring an increase by 1,000 percent to the crypto market, as we report in the latest Bitcoin news.
Pantera Capital is one of the largest investment firms globally and Joey Krug made this statement while talking to Bloomberg, saying that the next upward movement could lead the cryptocurrency market cap to reach about $2 trillion.
“If you look at that next bull run, I think the crypto space overall could hit 10x from here.”
Krug noted that despite the anticipation of the major financial industry players such as Intercontinental Exchange and Fidelity Investments entering the market and boost the price of Bitcoin, he explained that the market is, however, waiting on a bigger adoption to spike the next bull run.
In order for this to happen, the crypto networks must increase and improve scalability by commenting:
“If you look at the internet, it’s easy to say, ‘Well, you just create an app, get some users, and then you solve the scalability problems.’ But these are all markets, and so if you don’t have scalability, you don’t have market makers, and so you don’t have liquidity.”
There is a major innovation on the way for bitcoin also known as the Liquid Network which is a federated Bitcoin ‘sidechain’ that is developed by the blockchain startup Blockstream. This innovation is mostly meant for crypto exchanges and other financial institutions.
This innovation is still not ready entirely and Krug believes that the crypto market has already hit a bottom and will remain the same until the next catalyst comes.
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“Starting today, Coinbase supports the Basic Attention Token (BAT) at Coinbase.com and in the Coinbase Android and iOS apps. Coinbase customers can now buy, sell, send, receive, or store BAT, along with Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Litecoin, ZRX and USDC.”The decline in the price of BAT was abnormal because of the integration. Similar to the case of ZRX and its dump following the listing of Coinbase, analysts think that these integrations demonstrate the typical 'buy the rumor and sell the news' moves by investors in the cryptocurrency market. To sum things up, the price of BAT is very likely to have undergone major pressure as more investors seek to profit from it on short-term events.
The ‘NEO Super’ Fork: A Scam Or A Promising Blockchain?
“Because with a closer look at their LinkedIn pages you can easily tell that they are each fake.”If you see it, the CEO and lead developer of this project John D. Martin has only three connections on LinkedIn despite his alleged seven-year development career. And even though there is no whitepaper for the project, there is a nice looking website and a clone of other NEO wallet services. On top of this, the NEOX whitepaper clearly says:
“A lot of misunderstanding and incorrect representations surround the question of NEO forks. To put it simply, NEO cannot be forked in the same way as Bitcoin or Ethereum — that is, there is no way to split the chain and create a new coin based on NEO.”To sum things up, this project is very confusing to declare it a scam outright - and very unknown and confusing to necessarily recommend. We'll keep a close eye on it in the future and notify you if there were any drastic changes.
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“While many tokens have recorded gains in the range of 5 to 20 percent over the last week, regulatory uncertainty around tokens and their regulatory nature could lead to a decline in the value of tokens in the weeks to come.’’
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