Bitcoin’s Price Is Down 50% — Yet Adoption Has Never Been Stronger
The price of Bitcoin has been cut in half since hitting its all-time high. That much is hard to ignore. But according to a new report from financial services firm River, the price chart is telling only part of the story. Related Reading: Bitcoin Is Flat Out Better Than Gold, Cathie Wood Says Underneath the […]
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Bitcoin’s technical developments, incoming class of noobs and (of course) the price were strong in 2020, setting up for a stronger 2021. The post How Bitcoin Grew Even Stronger In 2020 appeared first on Bitcoin Magazine.
While many people focus on the price of bitcoin and its volatility, the true metric of success is adoption.
Pantera Capital CEO Dan Morehead believes that propelled adoption will drive the Bitcoin price above $100,000 by August 2021. Dan Morehead, founder and CEO of Bitcoin (BTC) investment firm Pantera Capital, has maintained his bullish Bitcoin prediction for 2021.Bitcoin is poised to hit as much as $115,000 by August 2021, surging 200% in the next eight months, Morehead reportedly said at a conference call on Jan. 12. The exec initially made this prediction in August 2020, when Bitcoin was trading at about $11,600. At publishing time, the cryptocurrency is trading at over $38,000. On Tuesday,....
Metcalfe-Network-Effect. Network growth has been steadily growing larger and stronger over the last two years. While many people only look at the value of bitcoin, they are failing to see the adoption rate. The bitcoin price may have dipped slightly recently, and the record all-time high price of $1,124 USD of late November 2013 may now seem like a long way off. The bitcoin network itself is continuing to grow larger than ever. While according to Metcalf's Law, which states the value of a telecommunications network is proportional to the square of its users. There comes a point in this....
AAVE, KSM, ALGO and TFUEL are showing signs of strength while Bitcoin bulls attempt to push BTC price over $38,000. Bitcoin’s (BTC) price continues to be range-bound between $30,000 and $40,000 level for the past few days, which is not necessarily a bearish sign.Generally, after a sharp fall, the price tends to consolidate as the asset transfers from weaker hands to stronger hands. After the transition is complete, the asset breaks out and starts a new uptrend. Usually, the longer the price consolidates in a range, the stronger the next trending move will be. Bloomberg Intelligence senior....