The latest predictions about Bitcoin’s Market value seems to be a bit unfortunate to the Bitcoin [BTC] followers. Though Bitcoin constantly stands on top with a Market Capital of $125.716 billion, the growth of its price has decreased dramatically over the past few months.
The fall of Bitcoin’s value has always been the highly discussed topic ever since December 2017 in the crypto community. The value of the cryptocurrency has climbed up and reached to $7413 as per today’s record published by AMBCrypto’s price data. However, the constant rise and fall of the value around the same range have depicted a negative opinion about the currency among several researchers across the globe.
According to some of the Swiss researchers, even the trending market capital of the cryptocurrency is predicted to be deteriorated by the end of this year. Considering a theory named Metcalfe’s law, these researchers have conducted their study which says that the market capitalization would not increase more than $77 billion, which is almost 35% of its current market capitalization based on its present value.
While the value was trending above $19,000 in mid-December, some of the top end exchange holding companies such as CME and Cboe introduced Bitcoin futures boosting expectations of increased institutional investment.
However, the Swiss researchers seem to be quite convinced with the aftermath of their research that the market value would fall down more than a third by December 2018.
The Swiss researchers say:
“Looking forward, our analysis identifies a substantial but not unprecedented overvaluation in the price of bitcoin, suggesting many months of volatile sideways bitcoin prices ahead (from the time of writing, March 2018).”
Also, it was noticed that most of the U.S regulators and major markets such as Japan and South Korea have significantly reduced their keen interest in evaluating Bitcoin since its fall. Although, one part of the Digital Currency proponents still say that Bitcoin can recover from the current situation and move notably higher and its blockchain technology can certainly make a difference in future.
Owen Wilson, a Twitterati says:
“Bullish sentiment being set in place. Demand side growing higher than the supply side. #Bitcoin and #Litecoin price is going up. Will it be today, tomorrow? Who knows- this is an emerging market. What I do know- #Crypto is gearing up to reach a wider audience than ever”
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Tether’s [USDT] market capitalization hits all-time high, Facebook in talks with Winklevoss twins, trading firms over new cryptocurrency and more
Crypto News – 25 May – Tether’s [USDT] market capitalization hits all-time high, Facebook in talks with Winklevoss twins, trading firms over new cryptocurrency and more
— AMBCrypto (@CryptoAmb) 25 May 2019
Daily Crypto News – May 25
1) Bitcoin Wallet receives part of 5,000 BTC: A recent Whale Alert highlighted a transaction on May 24, where a large sum of Bitcoin [BTC] exchanged hands between two anonymous wallets. According to the alert the transaction took place at 22:13:23 + 1 minutes and 5,000.00001092 BTC was transferred from an unknown wallet, with address 19SiCYaYKZh9A8HUjuh14eg5wtYzKxiFbB, to another unknown wallet with address 14GcjGjxwadzcpmq9EG3KUgTKATjurbnWt.
Read more at https://bit.ly/2VRQwb0
2) Bitwise Report 2.0: Bitcoin [BTC] futures continues growth: On a month-on-month basis, Bitcoin Futures saw a massive bump in April trading at an average of 10,000 contracts daily, peaking on April 4, with over 22,000 contracts traded. To put that number in perspective, in March 2019, the average contracts traded was less than 4,000. Despite the high standards set in April, the average daily contracts traded in May, with 25 days gone has exceeded 14,000 and still looks to grow, given the price performance of Bitcoin.
Read more at https://bit.ly/2W40sTR
3) Craig Wright on private keys: Craig S Wright has, for years, claimed he is the true creator of Bitcoin [BTC] without providing a shred of evidence to support the same. With the crypto-community levelling, Wright could prove his worth by sending BTC from Satoshi Nakamoto’s touted wallet containing around 980,000 BTCs, the BSV man in a twisted cause and effect situation, stated he will “sign” into his wallet only when he proves he is the creator.
Read more at https://bit.ly/2X6fdlw
4) Tether’s [USDT] market cap hits ATH: Tether and Bitfinex are being closely scrutinized now more than ever due to the NYAG’s lawsuit; however, the scrutiny doesn’t seem to have affected Tether as the market cap of USDT has increased by over $100 million in approximately 70 days.
Read more at https://bit.ly/2McaTjE
5) Tether volume shift: Another controversial topic in the cryptocurrency industry was the issue of fake transaction volumes on many of the popular cryptocurrency exchanges. The magnitude of the topic was so large that even Changpeng Zhao, the Chief Executive Officer [CEO] of Binance had raised red flags. This topic and Tether as a whole received another twist when Larry Cermack, the Director of Research at The Block, pointed out a few parameters when it came to the said volume.
Read more at https://bit.ly/2wmk4mJ
6) Bitfinex’s LEO tokens listed on Delta Exchange: Bitfinex’s Leo tokens faced quite a lot of criticism when they were announced, due to the missing $850 million funds from Bitfinex. The private investment round by Bitfinex also faced a lot of heat from the media. However, in a recent development, Leo tokens are being listed on various exchanges for trading.
Read more at https://bit.ly/2HUEnNB
7) Robinhood en-route a projected valuation of $7 billion: Robinhood, the California-based cryptocurrency exchange made headlines recently when a source close to the organization revealed that it was on the verge of closing their latest round of funding at a valuation of a whopping $7 billion – $8 billion. Sources even claimed that the current round of funding could act as a precursor to an even bigger round of funding, which would pit Robinhood with the bigwigs like Coinbase and Binance.
Read more at https://bit.ly/2W64KKj
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