Bitcoin’s price has corrected by as much as 53% from the 2019 high of $13,880. Investor sentiment has turned extremely bearish. A few weeks ago, the idea of bitcoin trading at $5,000 was unthinkable. Today, many are calling for $5,000 to be the bottom of this downtrend. Continue reading Traders Explain Why You Should Be Long-Term Bullish on Bitcoin
Elon Musk might be burning through cash as he seeks to steady the teetering Tesla ship, but hedge funder Mike Novogratz hinted that he would be first in line to invest in his fellow billionaire’s other high-profile project, SpaceX. If SpaceX ever launched its stock on a cryptocurrency network, that is. Continue reading Billionaire Elon Musk Should Turn SpaceX Stock into a Cryptocurrency
Another day, another Facebook data leak affecting millions of dubious users. This time around, security researcher Anurag Sen discovered a public Amazon Web Services (AWS) database containing the contact information of more than 49 million Instagram accounts, TechCrunch reports. For those out of the loop, Facebook is the monopolistic owner of Instagram and most other things social media. Continue reading Instagram Data Breach Reports Prove You Should Skip Facebook’s Crypto
Mass adoption of Bitcoin is the ultimate endgame for many developers and advocates of the most popular crypto asset today. The real visionaries of the space hope for a world in which the national government’s power is eroded by trustless forms of currency and governance enabled by blockchain technology. Under this scenario, individuals around the globe would make near-instant, cheap payments for goods and services without intermediaries, using second layer Bitcoin scaling protocols such as the Lightning Network. And the corporations requiring the most secure transfers would likely dominate activity on the mainchain. Naturally, with a huge percentage of the planet’s wealth being stored in Bitcoin, the would be many times greater than it is now. For example, if Bitcoin was to exceed the market capitalization of gold ($7.8 trillion), the price of a single Bitcoin, presuming that all were mined and none was lost (but they are), would be around $371,430. Continue reading Bitcoin Mass Adoption: When Should We Expect It?
Mike Novogratz, a billionaire venture capital and avid cryptocurrency investor, is reportedly raising $250 million to support crypto businesses. Continue reading Billionaire Mike Novogratz Raising $250M Should Reassure Crypto Investors, Even in the Bear Market