‘The Business Blockchain’ Author Predicts Year-End Prices of Top Cryptos – CCN.com

On Wednesday, the author of the book “The Business Blockchain: Promise, Practice, and Application of the Next Internet Technology,” William Mougayar, took to Twitter to share his fearless forecast on the possible year-end prices of top cryptos. The crypto tokens that made Mr. Mougayar’s list include bitcoin, Ethereum, Ethereum Classic, and Binance Coin among others. Strong end of the year predictions from William Mougayar. | Source: Twitter What immediately caught our attention is the author’s predictions on the top two cryptos. Mr. Mougayar believes that bitcoin will print a new…

Warren Buffett has Enough Spare Cash to Buy Two-Thirds of All Existing Bitcoin – CCN.com

Warren Buffett isn’t much of a bitcoin fan. He’s called it rat poison squared, a gambling device, delusional, and a seashell with no inherent value. But, if he wanted to, he could become the biggest bitcoin whale of them all. Buffett could buy two-thirds of the existing BTC supply… in cash. Warren Buffett’s investment firm Berkshire Hathaway reported a record $122 billion cash pile in a recent filing. That’s about two-thirds of bitcoin’s current market capitalization of $177.6 billion. Sidenote: obviously, this isn’t actually possible. Only a small portion of…

The US Quietly Printed $75 Billion out of Thin Air (For the Banks). This Is Why Bitcoin Matters – CCN.com

The Federal Reserve Bank of New York very quietly handed out $75 billion in cash to the banks on Wednesday in a process known as a ‘repurchase operation,’ or repo.  This emergency measure hasn’t been used at scale for a decade, since the last financial crisis. It’s a reminder of the central banks’ power to artificially expand the money supply and devalue your money. This is why bitcoin, with its capped supply and strict, predictable output, matters. What is the repo operation? In simple terms, the central bank prints $75…

‘Master’ of Alternative Investments Doesn’t Have a Clue About Bitcoin

Blackstone head honcho Stephen Schwarzman is rich. Really rich. The man who was, once upon a time, lauded as the “Master of the Alternative Universe” built his empire by taking risks. Over the years, the billionaire CEO has traded in a wide variety of businesses including a casino, a marine theme park, and even a German camping outfit. Schwarzman is the world’s 100th richest man, according to Forbes, with a “real-time net worth” of $18.4 billion. 1% of Your Portfolio in Bitcoin. Surely a Drop in the Bucket? With such…

Deflation with Negative Interest Rates Is Bullish for Bitcoin

The world is slowly descending into the age of deflation. Under this condition, central banks adopt a negative interest rate policy (NIRP). In other words, those who park their cash in banks must pay interest. This forces many citizens to invest their excess cash in assets such as stocks, commodities, or even cryptocurrencies. In 2014, the European Central Bank (ECB) embraced NIRP. The Bank of Japan followed suit in 2016. Recently, the President of the United States tweeted that the Federal Reserve should reduce interest rates to zero or below.…

Bitcoin is Not And Never Will Be ‘Money’

If you’ve been reading my column, you know that I do not believe in the long-term story of bitcoin and that trading it is actually worse than gambling in a Las Vegas casino. I don’t believe bitcoin will actually ever replace fiat currency, and the circumstances under which that could happen would actually undercut the ability for bitcoin to even be utilized, and the current state of the bitcoin market is that it is so volatile that it hardly classifies as a store of value. Tests For Whether Bitcoin is…

Want Bitcoin to Moon? You’d Better Start Buying Stocks – CCN.com

Want the Bitcoin price to surge to new highs? You’d better start buying stocks – or at least invest in an S&P 500 index fund. | Source: Scott Olson / Getty Images / AFP It seems like a lifetime ago that the Bitcoin price grazed the $20,000 mark in late 2017, and bulls have been pining for a new breakneck rally ever since. According to Fundstart Global Advisors co-founder Tom Lee, the catalyst for BTC’s march to a new all-time high could come from an unlikely place: the stock market.…

Dismal Jobs Growth and Consumer Spending to Supercharge Bitcoin – CCN.com

Being bearish on bitcoin has become fashionable, but one analyst explains why it’s never a good idea to bet against the largest cryptocurrency. | Source: Shutterstock Bitcoin bears have come out of hiding over the last few weeks as the number one cryptocurrency struggles to stay above $10,000. Since the digital asset printed a 2019 high of $13,880 on June 26th, market participants started to feel jittery. In the last month, market sentiment has ranged from fear to extreme fear. Crypto market participants are gripped with fear. | Source: Alternative.me…

Ethereum Will ‘Mega Moon’ Against Bitcoin, Predicts Trader – CCN.com

Ethereum continues to languish against bitcoin. Here’s what it needs to break the downward spiral. | Source: Shutterstock To say that Ethereum is weakening against the king of cryptocurrencies would be a huge understatement. The ETH/BTC pair is down by nearly 50% year-to-date as it languishes in bear territory for 17 months and counting. The sentiment is so overwhelmingly bearish that some traders are happy to short the crypto pair. $ETH / $BTC 4Hethbtc short setup pic.twitter.com/2vH5M25M3W — Suprematic Wassie (ex_hermit) (@GothBtcSinner) September 10, 2019 Nevertheless, big accounts in the…

Bitcoin Traders Fear Sub-$10,000 Drop if This Key Level Breaks – CCN.com

A big pullback awaits if bitcoin slips below a key psychological level, according to traders. | Source: Shutterstock The bitcoin price has dropped from $10,968 to $10,285 in the past three days. If BTC fails to remain above $10,100, traders anticipate a bigger pullback below the $10,000 level. Since early August, the bitcoin price has demonstrated volatility within a large range between $9,400 to $10,900, unable to break above or below key resistance or support levels. The bitcoin price (BTC) is down slightly on the day against the USD (source:…