CEO of ADVFN: Bitcoin Halving will confirm bull market
In the crypto-Community there are numerous opinions about the upcoming Bitcoin Halving, which is due in may of this year.
For example, the CEO of Galaxy Digital, Mike Novogratz noted, in a recent Interview that BTC have the potential to reach up to the Halving of the Block Rewards in may, the historical maximum value of $ 20,000, and even surpass them. Also Litecoins Creator, Charlie Lee last made a prediction and explained that Bitcoin could follow after Halving the same pattern as Litecoin. The most recent comment to the Halving of Bitcoin comes from Clem Chambers, CEO of ADVFN, Europe’s leading Website for stocks and securities. In a recent Interview, he noted that the Halving of the Bitcoin will create a “very clear bull market” for the prices. In addition, he noted that the price of Bitcoin is currently moving up, and that he could follow up to the Halving continues, and probably even a continuing upward trend even after the Halving.
On the other hand, the Halving has also brought many people to talk about the Status of Bitcoin as “digital Gold”. In fact, correlated Bitcoin in the second half of the year is 2019, the more Gold, than any other major Altcoin, what confirms the Thesis. In addition, the correlation between Gold and Bitcoin reached in January to their highest level, which has strengthened the Theory. In the course of the interview, Chambers was asked about his thoughts on the comparison of Bitcoin with Gold, and Chambers noted in his answer, that Bitcoin has many properties that make it better than the Gold. He also stated that Bitcoin was a transport in comparison to Gold traveling much easier, and stated that Bitcoin is currently the “aircraft of choice”.
Bitcoin is something that you have to act very, very quickly and very very easily and can make money. And you think about it, if you morning America, say, half a Million dollars to leave, how would you do that? If you had no Bank account abroad, and even if they had such a, how would you put the money in these days of KYC and AML on this Bank account? The speaks for Bitcoin.
Peter Zimmerman, a senior economist at the Bank of England (BoE) recently published a working paper on the price of Bitcoin and other crypto-currencies, in which he spoke about the “digital Gold”-effect of Bitcoin. He claimed that the Mechanics of a Bitcoin causes people to treat it like Gold, he said:
If crypto-currencies are more valuable , hesitate, households, for fees to spend. Instead, they prefer to bear it hoarding and slower processing times. I call this a “digital Gold”effect: If a crypto currency is valuable, to see the agent as a Well, the store, and not as the money you spend.
Bitcoin’s price slip below $ 10,000 USD
Somewhat surprisingly, Bitcoin is like on the weekend, again below the 10,000 USD mark. The declining Trend has extended further today, as the Bitcoin price crashed on of 9,450 USD, where the current decline will open may doors for significantly more losses. In the short term, some analysts have noted that the 9700 USD brand is a critical support level, which must be kept above the level, with a sustained decline below this level may be a sharp decline, up to 8,500 USD could trigger.
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