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These off the mark 2020 Bitcoin price predictions prove that forecasting BTC’s value is as futile as picking lottery numbers. Pundits and crypto analysts love to issue Bitcoin ( BTC ) price predictions regardless of how volatile the asset class is.  In 2017, there were calls for BTC’s price to hit $35,000–$50,000, and of course, a few brave souls predicted that the price would top $1 million before correcting. No one will forget how John McAfee infamously promised to chomp off his genitals if BTC’s price didn’t hit $1 million by 2020. While some of these lofty estimates are based on fundamentals, others are entirely baseless. Regardless of the analyst’s rationale, a handful of them are so far removed from reality that they have become memes. Let’s review the most outrageous Bitcoin price predictions of 2020. “Guesstimation” attracts attention because nobody follows them up Guessing the future price of cryptocurrencies is so embedded in the community that many analysts don’t ev

Over the past few weeks, Chainlink’s price action has been nothing short of lackluster, with the cryptocurrency failing to gain any serious momentum as investors widely shift their focus away from altcoins and towards Bitcoin. This trend shows few signs of letting up anytime soon, as most major altcoins are all stagnating as BTC continues showing signs of strength. Until BTC enters a prolonged consolidation phase or slides lower, there’s a strong possibility that it will continue gaining dominance over the market. Despite this short-term trend being bearish for altcoins like Chainlink, data does seem to suggest that the cryptocurrency is as fundamentally healthy as it has ever been. According to one analytics platform, Chainlink could be well-positioned to see some massive upside due to an ongoing accumulation trend amongst smaller network participants. They also note that while its price has gravely underperformed BTC and other altcoins like Ethereum, its largest whales are stil

A Grayscale spokesperson confirmed to Cointelegraph that the fund manager didn’t dump massive stakes of XRP and XLM. Bybt data apparently  showing a massive liquidation of XRP and Stellar Lumen ( XLM ) by Grayscale Investments earlier this week is inaccurate, according to the investment company. On Wednesday, a public Bybt data set suggested that Grayscale Investments reduced its exposure to XRP by roughly 9.19 million units and that the fund also cut its XLM holdings by over 9.74 million units. According to Bybt data, the net change in holdings occurred over 24 hours on Tuesday. Cointelegraph accessed the data before Grayscale released its daily assets under management report for Tuesday and noted in an article that Grayscale had reportedly sold significant amounts of XRP and XLM. Efforts to reach Grayscale on Wednesday were unsuccessful. However, on Thursday, a Grayscale spokesperson told Cointelegraph:  “None of the Grayscale investment products operate a redemption program

Today is the last day of 2020 — a year so many are ready to say goodbye to and never look back at. But for Bitcoin, the cryptocurrency is about to close out its most important year yet .   At the same time, the asset also closes the last ten years as the best performing asset since 2011, underscoring a decade of growth that is only just beginning. Here’s how Bitcoin stacked up against the rest of the world of finance over the last decade.   From Early Bitcoin Beginnings To Now The Bitcoin white paper was first distributed in 2008, and the genesis block that began it all was mined in 2009. In 2010, the first well-known commercial transaction involving BTC and two pizzas took place.   But it was 2011 when the asset rose to over $1 and started to be widely used as a currency — primarily for transactions on the Silk Road dark web marketplace .   Related Reading | Analyst: Bitcoin Parabolic Trend Is “Close To A Breakdown” From there, it has continued to be used as such but also has t

Experts in blockchain technology and crypto take on the question of Bitcoin’s path throughout the year 2020. Without any doubt, the year 2020 was unlike any other year in the 21st century: The ongoing COVID-19 pandemic , global governments unstoppably printing money , “lockdowns” and “social distancing” becoming the new normal, protests against racial discrimination and police brutality, and so on and so forth. It even made some claim it to be “the worst year ever.” But as they say: In every storm, each cloud has a silver lining. The most important thing is to learn from what we’ve been through and to improve our world and our future, as there are some problems that we have to solve ourselves . It’s also true that 2020 was a significant, dramatic year not only for people all over the world but for Bitcoin ( BTC ) as well: the third halving , increased attention from institutional investors and global regulators, its white paper’s 12th anniversary , etc. Some even called it the “

Paolo Ardoino says Tether hasn't done anything to warrant any additional investigations from the SEC. Paolo Ardoino, the outspoken chief technology officer of Bitfinex, took to Twitter this week to dispel concerns that Tether could be the next target of the United States Securities and Exchange Commission.  In response to a tweet from CryptoQuant CEO Ki Young Ju, Ardoino said Tether adheres to strict Know Yor Customer/Anti-Money Laundering regulations set forth by the Treasury Department’s Financial Crimes Enforcement Network, or FinCEN. In other words, people who say Tether is less regulated are just spreading “FUD”— or fear, uncertainty and doubt. Ki Young’s original tweet said: “If SEC's next target is Tether, it's going to be very, very bad for this bull run as this market heavily relying on $USDT.” Ardoino’s response: Reminder: #Tether is registered and regulated under FinCEN as all the centralised competitors. Strict KYC/AML is applied to all Tether direct us

Enterprise blockchain matured throughout 2020 and will continue to do so moving forward, here’s how it may become mainstream. The year 2020 has been monumental for the blockchain sector, especially in regards to financial markets. Yet, while the price of Bitcoin ( BTC ) reached new all-time highs this year, the enterprise blockchain space also welcomed in public networks, open-source code and a number of other elements not seen in previous years defined by private, closed networks. Listed below are five enterprise blockchain trends seen in 2020 that can drive mainstream adoption of blockchain moving forward. Tokenization will drive the internet of value “The Internet of Value” is a term coined by Don Tapscott, author and founder of The Blockchain Research Institute. In 2016, Tapscott gave a TED Talk in which he predicted that organizations would begin moving digital assets, including money, music, artwork and more, across blockchain networks in the same way as cryptocurrencies a

Tether is the cryptocurrency industry’s biggest threat in 2021, says a report penned by Messari’s Founder Ryan Selkins. The 134-page thesis ventured into the stablecoin’s emergence as a proxy for the US dollar that helps crypto traders getting in and out of their positions quickly on exchanges. It also focused on the controversy that tails Tether following the New York State Attorney’s class-action lawsuit against its founders and a sister cryptocurrency exchange BitFinex. Boom Against Gloom Lawyers Vel Freedman and Kyle Roche alleged in their October 2019 filing that Tether defrauded its investors, manipulated the cryptocurrency markets, and concealed illicit proceeds. They added that Tether printed billions of dollars’ worth of USDT stablecoin to artificially inflate the price of Bitcoin, Ethereum, and other cryptocurrencies. But the market largely ignored the warnings. Tether’s market capitalization soared from $4 billion in October 2019 to $20.9 billion in December 2020. Mr.

It’s no secret that Bitcoin’s recent parabolic rally has done little in the way of providing tailwinds for altcoins, with many seeing devastating losses against BTC as their growth stagnates. This isn’t unprecedented, as past bull runs have followed a similar path, with BTC leading the way and rallying independent of the rest of the market, followed by a capital rotation event that sends altcoins flying as BTC drifts lower or consolidates. There’s a strong possibility that this will happen again in the future, but it only remains a question of how long Bitcoin will rally and how high it will go before altcoins can gain some momentum. One venture capitalist believes that the market is nearing the point at which a rotation from BTC and towards altcoins will occur. He notes that sentiment surrounding Bitcoin can be characterized as no less than “general greed & fomo,” noting that this could be emblematic of a local high. He also notes that altcoins have been undergoing sheer cap

In 2021 and in the years to come, the digital-asset space must take steps to identify and implement solutions for its security. It’s safe to say that 2020 has been a banner year for the digital-asset space. Bitcoin ( BTC ) soared past its previous high , and many other prominent cryptocurrencies reached their highest levels since the heyday of 2017 and early 2018. Across the financial services industry, institutional voices are expressing reinvigorated interest in digital assets. The growth and maturation of this space has been impossible to ignore, engendering plenty of optimism among those who build the platforms and systems on which it runs. Unfortunately, not all the headlines from the past year have been positive. Several well-known crypto exchanges and other organizations were hacked, which led to significant losses. Events like these are not only damaging to a firm’s reputation and potentially devastating for investors, they also erode hard-won trust in the digital-asset spa

The Diem Association’s rebrand from Libra was supposed to herald a new day for the project, but a touted 2021 launch may not go as planned. Facebook-backed Libra Association’s rebrand to Diem looked to quash negative perceptions of the project, but its new name has not changed the regulatory pressures the project still faces. It has been 18 months since Facebook announced that it was looking to launch its very own payments system project that would plug into its social media platforms. Interest in the Libra project quickly turned to scrutiny , especially from regulators, financial institutions, central banks and major governments. Facebook faced intense pressure from the United States Senate and even more from the House Financial Services Committee over its plans to launch the Libra project, given that its social media platform is used by a considerable portion of the world’s population. There were understandable fears that the sheer number of people that would have access to t