October is here, and the price of Bitcoin is up for another prediction by the anonymous analyst who accurately predicted Bitcoin’s recent surge. However, this month’s prediction seems unlikely to hold, as the analyst’s forecast for October was $16,000. Bitcoin would have to nearly double in value to reach that price.Bitcoin has never been short of predictions, which have ranged from zero to $100,000 and even $1 million. Although most have seemed far from reality, the anonymous analyst has offered reasonable price targets for the short term.The anonymous predictionIn a dull BitcoinTalk post last January, the analyst published their predictions.Their targets for April ($5,300) and July ($9,200) have been spot on. The next one is for the month of October – a price of $16,000 for one bitcoin.

A recent Twitter poll revealed an interesting selling sentiment among the community. The majority of voters pointed out that they plan to sell most of their holdings at $1,000,000. However, almost a quarter of all who expressed their votes answered that they intend to keep their Bitcoin forever.The Poll ResultsBinance Lite took it to Twitter to ask for people’s opinions. The question was simple – “At what price would you sell the majority of your Bitcoin”. Voters had the chance to choose between four answers;At what price would you sell the majority of your #bitcoin??— Binance Lite (@binanceliteau) October 3, 2019As of the moment of writing this, 31% of all voters have picked $1,000,000 as their selling price. 25% have picked that $50,000 is the number at which they will sell most of their

The political turmoil in Hong Kong continued on October 1st, the 70th anniversary of the People’s Republic of China. The protests have continued even though previous proposals permitting extradition to mainland China were abandoned in June. Amid all this, Bitcoin’s volume on P2P trading platform LocalBitcoins surged to an all-time high in the past week.Bitcoin’s Trading Volume Reaches All-Time HighThe cryptocurrency boom of late 2017 and early 2018 delivered immense Bitcoin trading volume numbers in Hong Kong. As Bitcoin’s value decreased in the following months, so did the trading volume. However, the weekly volume for BTC trading against the Hong Kong dollar on LocalBitcoins hit a new all-time high last week. The recent volume of almost $12,300,000 surpassed the 2017/2018

A new study carried among over 5,000 Americans reveals interesting data regarding Bitcoin ownership. Over 21% of all voters answered that they have never heard of it, while 7.3% do not own any at the moment but are planning to buy. 6.2% of all participants voted that they already purchased some.Results of the StudyOver 5,000 males and females, aged 18 to 65 from the US were asked about their stance on investing in Bitcoin. The possible answers were five, namely:• I do NOT own any. NOT Planning to buy any.• Never heard of Bitcoin before.• I do NOT own any. Planning to buy some.• I own some. NOT planning to buy more.• I own some. Planning to buy more.The first one appears to be the most commonly answered. Over 64% of the voters stated that they don’t have any Bitcoin and do not plan to

Venezuela’s economy has been struggling for years. The country has been trying to break out of that situation utilizing blockchain with several attempts so far. In a recent interview, President Nicolas Maduro said that the government will be using cryptocurrencies as a method for free national and international payments.Venezuela’s Crypto SolutionPresident Maduro appears to be looking for new ways to provide payment methods for the Venezuelan population. The central bank and the finance minister could soon receive new ways to make national and international payments. These instruments are supposedly coming from the crypto world, as Maduro stated:“The finance minister and Venezuela’s central bank have new instruments which we will activate very soon so that everyone can do banking

The cryptocurrency market has been fluctuating for a while. It has produced significant price increases and decreases, even if we look at the past week alone. On a larger scale, the market saw a severe decline last year and recovered partially since the start of 2019. Interestingly enough, the market cap one year ago on this date was exactly the same as it is now. So what changed?Market Movements 2018 and 2019All cryptocurrencies saw noticeable price movements in late 2017 and early 2018. The market went through a crash during most of 2018, finishing the year with a total capitalization of $127 billion. This means that in less than a year, the total capitalization was reduced with almost 85% from $813 billion at the beginning of 2018. This year, on the other hand, the tides turned.However,

The cryptocurrency market is known for its volatility. The latest price movements have proven once again that things can go from north to south in a matter of hours. Thoughts of a possible new altcoin season have been circling around for a quite some time. However, all prices plunged significantly a few days ago and recovery seems optimistic at best.Crypto VolatilityBitcoin has lost over $2,000 over the last few days, marking a decrease of 21%. The crash didn’t affect only the largest cryptocurrency but the entire market. Some of the well-known altcoins experienced harder decreases. Ethereum, for example, lost 23.5% and Litecoin lost around 27%. From the top 10 cryptocurrencies, Bitcoin Cash and EOS marked losses upwards of 30%.This may have come as a bit of a shock as just a couple of

The last few days have been rather dramatic for the cryptocurrency markets, as most coins have marked double-digits losses. Bitcoin’s price shed $1,500 in one hour, which alarmed the community. However, the bigger picture engenders optimism, especially when we look back at the lows of 2018.2018 Versus 2019In late 2017, cryptocurrencies enjoyed price increases day after day, ultimately culminating in Bitcoin’s all-time high of $20,000. Some were caught off guard when the trend reversed in 2018, resulting in significant declines across the board. Bitcoin, for example, hit a low of $3,150 in December, exactly a year after reaching its all-time high.The subsequent bear market scared the community, and the most recent crypto crash may have inspired similar fears. However, even if Bitcoin’s

ICOs were undoubtedly a hot trend back in 2017 and 2018 during the parabolic bull market and the subsequent selloff. Ever since then, their prominence has stalled and a recent report shows why that might be. Remarkably, 640 out of 2,000 reviewed ICOs haven’t added or written a single line of code in 2019, and in some cases, the lack of activity is even more alarming.ICO Projects Lie DormantA report from Coincodecap which looked at over 2,000 cryptocurrencies revealed that 32% of them hadn’t written or added a single line of code in 2019. Despite this inactivity, their current combined market cap is more than $415 million.Most of these inactive projects were launched in 2018, with a few exceptions. The largest inactive project is called Proton, and it saw its last days of coding exactly a

The crypto market crashed yesterday as Bitcoin and major altcoins marked severe double-digit losses. A popular crypto analysist in Tweeter thinks that a serious market crash can actually turn out to be a positive thing for altcoins. Bitcoin holders might see the bearish trend as the beginning of the next major altcoin season.Altcoin Season on the Horizon?Per the opinion of the popular crypto analyst DonAlt, in order for the next altcoin season to arrive, Bitcoin has to experience a harsh decline in its price.I think the best way to get alt season at this point is a BTC drop that is coupled with an altcoin ratio drop.That’d scare the shit out of holders, make them capitulate right into the last cycle low (For majors) and open the doors for an altcoin run.— DonAlt (@CryptoDonAlt) August 12,

Bitcoin is becoming a force to be reckoned with in the global currency market as it’s already a part of the top 30 currencies. This sounds even more impressive when we take into consideration the fact that Bitcoin has only been around for a decade and it’s currently 50% down from its all-time high.Bitcoin on the Macro LandscapeThe graphic below reveals the M2 market supply of the largest currencies. This includes saving deposits, mutual funds as well as checking deposits and cash in circulation. The largest currency by M2 is, reportedly, the Chinese yuan with $28,011 billion, followed by the USD with 14,521 billion. Bitcoin has managed to get its name among the top 30 and is currently the 29th largest currency in the world.Even though it has been on the map only for a decade, it’s market

Wash trading has always been a serious pressure point for the cryptocurrency markets. It might be slightly expected in such an unregulated market, however, the situation appears to get better according to a recent report. Since the beginning of the year, the percentage of wash trading among the top exchanges has dropped drastically with almost 36%, while Bitcoin’s wash trading volume is around 50%.What is Wash Trading?A single coin can be bought and sold with the sole purpose of providing false and misleading information to the market. This process is referred to as wash trading. One entity can serve as both the buyer and the seller of a specific coin (or any asset), pumping the volume and attracting other traders to follow the price movement. However, there’s the possibility of a trader

The official launch of Huobi’s newest product was announced on September 17. The project is dubbed Huobi Argentina, and it will be supported by Huobi Cloud. The company is establishing a local team with localized operations and a direct fiat gateway, allowing users to trade Argentine pesos (ARS) to crypto and vice-versa.Huobi Targets Local MarketsArgentinian users are already able to purchase cryptocurrencies with Argentine pesos (ARS) via Huobi’s OTC platform. However, Huobi Argentina, which is set to be launched in mid-October of this year, will provide a direct fiat gateway. This will allow local traders to buy crypto via wire transfer, credit card, and Mercadopago – one of the major digital payment providers in the country.The company’s idea was to provide an end-to-end exchange for

May 22 is popularly known as Bitcoin Pizza Day, as it marks arguably the most famous Bitcoin transaction ever. A Florida man named Laszlo Hanyecz paid 10,000 bitcoins for two large pizzas on that day. With the Bitcoin price hovering at just over $10,000 today, that purchase now appears outrageous.However, the infamous transaction might prove to be a positive example of Bitcoin being used as a currency for payments, while the debate as to whether Bitcoin should be seen as a store of value or a medium of exchange continues.Bitcoin as a Store of ValueBitcoin’s price has been relatively stable during the last few weeks, whereas 2019 has been quite bullish overall. Compared to 2010, Bitcoin’s USD value is exponentially higher – 10,000 bitcoins were worth $41 nine years ago, whereas the same

Libra continues to make waves in the community. The co-creator of Libra and head of Calibra, David Marcus, stated, among other things, that the planned stablecoin would not threaten nations’ monetary sovereignty, as Libra is not meant to create new money.Libra Won’t Challenge National SovereigntyIn a series of tweets, David Marcus responded to the recent backlash against Libra. He stated that Facebook’s project aims solely “to be a better payment network and system running on top of existing currencies, and delivering meaningful value to consumers all around the world.”The executive continued by stating that Libra will be backed 1:1 by a “basket of strong currencies”, meaning that an equivalent value will exist in its reserve for every unit of Libra. Marcus also stated that no new money