Economist Explains The State Of Bitcoin

Economist Explains The State Of Bitcoin

Economist Explains The State Of Bitcoin

 

Bitcoin is a currency which is unpredictable. In fact, the crypto market as a whole is volatile and subject change on an hourly basis, so, there’s no way of knowing what will happen tomorrow, the day after that and so on. This is why cryptocurrency investment is so risky

When it was initially created it was seen as one of the hardest currencies ever created – and maybe that is still true to this day – due to its finite supply which means it will always be a better store of value over time, Bitcoin economist Dr. Saifedean Ammous has suggested.

The number one digital currency in the world has just over 20 million token overall and so when the miners uncover all of these coins then there won’t be any more to dig out of the blockchain. This fixed supply is why the coin has surged so much in ten years according to Ammous.

In his new book, Ammous looks into the history of Bitcoin and where he sees it going in the future. The book is titled The Bitcoin Standard: Decentralised Alternative to Central Banking and is out now.

The book goes into what Bitcoin has gone through, from its creation by Satoshi Nakamoto to “ten years later, and against all odds, this upstart autonomous decentralised software offers an unstoppable and globally-accessible hard money alternative to modern central banks”.

In a recent interview with the Daily Express, Ammous says “Bitcoin is not the toy you want, it is the medicine you need.”

Just so you know, we are not financial advisors and this is not financial advice. So, do your own research and make sure you trade safe.

Ammous is one of the members of the Centre on Capitalism and Society at Columbia University and added that Bitcoin is here to stay and that is not optional.

As the number of coins in circulation increases, the cryptocurrency becomes a ‘harder’ asset which gives Bitcoin a better store of value according to the Bitcoin economist. Bitcoin is now

As reported by the Daily Express:

“BTC has become a ‘monetary good’ because its value is ‘completely determined by people buying it and selling it’ rather than people producing it… what makes something worth using as money is once people put their wealth in it and start to use it as a store of value it is hard for others to simply increase the supply and bring the price down and make more if it.”

 

By Robert Johnson Nov 14, 2018

Alan Zibluk Markethive Founding Member

Bitcoin BTC Daily Price Forecast November 14

Bitcoin (BTC) Daily Price Forecast – November 14

Bitcoin (BTC) Daily Price Forecast – November 14

  • BTC/USD Medium-term Trend: Ranging
  • Resistance Levels: $6,800, $6,900, $7,000
  • Support levels: $6,300, $6,100, $5,900

Yesterday, November 13, the price of Bitcoin was in a sideways trend. The crypto’s price had been in a sideways trend before price broke that level to the low of $6,300 on November 11. On November 13, the crypto’s price has resumed its sideways trend. Price of Bitcoin is now fluctuating above the $6,400 price level.

The 12-day EMA and the 26-day EMA are horizontally flat indicating the sideways trend. The small body’s candlesticks are indecisive candlesticks describing the indecision of buyers and sellers at the $6,400 price level. There will be no trade recommendation as the price of Bitcoin is still in a sideways trend. Meanwhile, the crypto’s price is above the 12-day EMA and the 26-day EMA indicating that price is likely to rise. The MACD line and the signal line are above the zero line which indicates a buy signal.

On the 1-hour chart, the price of Bitcoin is in a sideways trend. The price bars are fluctuating above the exponential moving averages. The MACD line and the signal line are above the zero line which indicates a buy signal.

 

By Azeez M – November 14, 2018

Alan Zibluk Markethive Founding Member

Bitcoin price latest update: Cryptocurrency value to INCREASE due to high US debt level

Bitcoin price latest update: Cryptocurrency value to INCREASE due to high US debt level

ShapeShift CEO Erik Voorhees has said cryptocurrencies will boom during the next global financial crisis. The finance expert at the global trading firm believes the high level of US debt will cripple the economy unless more money is printed. He argues this will lead to an increase in cryptocurrency investment.

He said: “When the next global financial crisis occurs, the world will realise organisations with $20trillion in debt can’t possibly ever pay it back.

“Thus must print it instead, and thus fiat is doomed.

“Watch what happens to crypto.”

US lawmakers keep increasing the country’s debt ceiling, allowing for the federal government to take on more and more debt.

His theory is the debt level of world economies is unsustainable and will put states under pressure the next time there is a financial crash.

As a result, he believes quantitive easing will have to come into force, the process whereby governments print money, to help pay off the money they owe.

The more money in circulation the less it is worth, meaning ordinary families could be set to see their savings decrease in value.

Mr Voorhees believes this in turn could lead to more people investing in cryptocurrencies.

However, digital currencies are also a financial risk for investors due to their history of extreme volatility.

In 2017, Bitcoin’s value rocketed to more than double its value, reaching a high $19,783 in December.

However, it then plunged in 2018 to a low of less than $6,000 in June.

Since then the online money has stabilised and has seen no major rises or falls in its value.

 

City & Business | Finance

11/11/2018

 

Alan Zibluk Markethive Founding Member

Bitcoin BTC Daily Price Forecast November 12

Bitcoin (BTC) Daily Price Forecast – November 12

Bitcoin (BTC) Daily Price Forecast – November 12

BTC/USD Medium-term Trend: Bearish

Resistance Levels: $6,800, $6,900, $7,000

Support levels: $6,300, $6,100, $8,900

Last week the price of Bitcoin was in a bullish trend. The digital currency reached a high of $6,606.42 but the bulls failed to take price to the $7,400 price level. On November 7, the crypto faced resistance at $6,600 price level and it fell. It was suggested that if price broke the $6,400 price level in a downward trend, the crypto would find support at the $6,200 price level.
 

Today, the crypto fell and approached the $6,300 price level but now in a bullish trend. Price of Bitcoin is likely to continue its rise. Meanwhile, the digital currency is below the 12-day EMA and the 26-day EMA indicating that price is in the bearish trend zone. The MACD line and the signal line are below the zero line which indicates a sell signal.

On the 1-hour chart, the digital currency reached a low of $6,350 and pulled back. The crypto's price is above the 12-day EMA and the 26-day EMA indicating that price is in the bearish trend zone. The MACD line and the signal line are below the zero line which indicates a sell signal.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

By Azeez M – November 12, 2018

Alan Zibluk Markethive Founding Member

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