A recent article by a Cointelegraph Markets contributor proclaimed, “Bitcoin is the ‘new’ Apple.” In it, Marcel Pechman explained how Bitcoin’s price could reach $60,000 by 2023. He wrote, “Bitcoin hangs near the chasm of the adoption curve, and its price looks similar to Apple’s stock in 2008 before it broke out with a 520% rally.”

Pechman based his analysis on Everett Rogers’ book of 1962, Diffusion of Innovations, in which he classified consumers in the following five groups: Innovators, Early Adopters, Early Majority, Late Majority and Laggards. It is a system that has become widely used across many industries.

He looks at where Apple was positioned in 2008, when Apple’s United States smartphone penetration was stalled at about 11% and still waiting to cross the “chasm,” the gap between the “early adopter” stage and the “early majority” stages in the Rogers lexicon. To be considered a technical, Apple needed to cross this threshold. We know Apple achieved this as iPhone sales surged, “and Apple’s share price soared into the ionosphere.” Pechman believes Bitcoin could be in the same position today.

However, as Cointelegraph points out, can we even talk about Bitcoin and the iPhone in the same way: “Is BTC even a technology — like radios, PCs, and smartphones — or is it something different: unique, sui generis — i.e., in a class by itself?”

Arvind Singhal, a professor of communication at the University of Texas at El Paso told Cointelegraph that Bitcoin did indeed seem singular: “It has tremendous barriers to adoption for most individuals and operates in a space of multiple familiar currencies — and that peculiarity would greatly influence its adoption.”


More: https://medium.com/@lendoplatformltd/is-bitcoin-the-new-apple-230cf0fca133

Over the last few days, Bitcoin (BTC) has rallied and breached the $10,000 point. But the issue of most interest, especially to anyone holding BTC, is that the on-chain data shows traders are not feeling pressured to sell, meaning the price could surge even higher.

Cointelegraph says, “Bitcoin may have only held $10,000 for a matter of hours, but according to Glassnode, an on-chain monitoring resource, this moon is not like others in 2020.”
On 26th July, Glassnode uploaded its surprising data about BTC reaching $10,000 again, but suggested that in this year, Bitcoin’s journey above this price point will be considerably different than in previous years.

“Bitcoin has passed $10,000 several times in 2020, but Glassnode’s analysis suggests that this time differs from the rest because of the Bitcoin days destroyed indicator,” Cointelegraph reports.

What are Bitcoin days?

It is a measure the value of each BTC transaction, taking into account how long it has been since the coins involved last moved. In the past, when BTC has risen above $10,000, there has been an increase in the Bitcoin days destroyed metric, “suggesting that long-term holders were using the opportunity to trade or sell.” So, far this has not been repeated in July. “In contrast to the last two times $BTC hit $10,000 USD, we haven’t seen an increase in #Bitcoin Days Destroyed today,” Glassnode said.

PayPal contributes to crypto gains

Rumours circulating in June that PayPal was going to accept crypto prompted the idea that BTC would not only reach $10,000, it might lead to it reaching $12,000 in the short term.
The altcoin sector has also received a boost with Ethereum breaking firm resistance at $280 in a move which surprised everyone even more than the Bitcoin gains, and at the time of writing on 27th July, it stood at $326.

...

https://medium.com/@lendoplatformltd/traders-hodl-bitcoin-5954d6b3542f

As Cointelegraph reports, on 29th July, in a letter to investors, Dan Morehead, the CEO of Pantera capital, stated that the USA has printed “a shocking amount of money” sine the start of the pandemic crisis.

He wrote, “The United States printed more money in June than in the first two centuries after its founding. Last month the U.S. budget deficit — $864 billion — was larger than the total debt incurred from 1776 through the end of 1979.”

Morehead sees Bitcoin as the solution to the current financial crisis and he compared and contrasted the effects of money printing in recent months, to how the equivalent amount of currency had performed across centuries: “With that first trillion [USD printed] we defeated British imperialists, bought Alaska and the Louisiana Purchase, defeated fascism, ended the Great Depression, built the Interstate Highway System, and went to the Moon.”

He went on to say that the inflation that followed as the main reason to “get out of paper money and into Bitcoin.” According to the CEO, “there is no need for inflation-adjusted numbers [with Bitcoin] because there is no inflation/hyper-inflation.”

Morehead is not the only one concerned by the excessive printing of money. Peter Schiff noted comments by the Chair of the Federal Reserve, Jerome Powell, who said this week that the Fed was using its “full range of tools” to respond to the pandemic: printing money, keeping interest rates close to zero, and making asset purchases steady at $120 billion per month.

Schiff tweeted “The U.S. is about to experience one of the greatest inflationary periods in world history.” He then added, “Any credibility the Fed has left will be lost. Federal Reserve Notes soon won’t be worth a Continental.” (Continental paper money in the U.S. was at one time exchanged for treasury bonds at 1% of its face value.)

...

https://medium.com/@lendoplatformltd/america-prints-more-dollars-9e3bbd107b4a

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The Bitcoin purchase process

The majority of new investors prefer to keep their cryptocurrency purchases because of how convenient it is. Believe it or not, there are over 3,000 Bitcoin ATMs around the US only, and they work like normal ATMs for easy Bitcoin purchases.

The first step in making a Bitcoin purchase is choosing where to buy. There are different places where you can buy your cryptocurrencies from, however, not all of them will suit your needs and preferences. You need a convenient platform, that is user-friendly, accommodative, cheap, convenient, and has your best interest at heart...

Read Full Article at https://btcupload.com/bitcoin-news-blog/how-to-buy-bitcoin-with-cash

The biggest cryptocurrency by market value collapsed from $7,900 to a 10-month low of $4,700 on Thursday and extended the decline to 12-month lows below $3,900 early Friday.

Data provided by blockchain analysis firm CryptoQuant shows inflows into major exchanges, or deposits, began rising at higher-than-usual rate beginning March 8. One way to read this is as a possible co-ordinated action by whales to dump the cryptocurrency.

https://www.coindesk.com/whale-watching-exchange-data-contained-early-warning-of-thursdays-bitcoin-dump

The global economy is coming to terms with the impact of COVID-19 and central banks are printing fiat money by the trillions.

What unique asset class has the potential to weather this storm the most?

Yes, bond prices will go up. And so will gold.

But only Bitcoin was created precisely for times like these.

Bitcoin, along with a select group of altcoins, has the potential to perform well in this environment.

In a little over a year, Bitcoin is up 50%. In the past three years, it has more than quintupled in value. And within a matter of weeks, we believe it is about to rise again because the Bitcoin Halving is just weeks away.

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Bitcoin prices were taking flight on Monday, pushing the digital currency to the highest level in about two months and ending the long dormancy of the world’s No. 1 virtual asset.

Bitcoin, the largest and most influential cryptocurrency, shot past the key $10,000 resistance marker—all eyes are now on the critical $10,500 level,” wrote Nigel Green, chief executive and founder of deVere Group, a financial firm, advising some $12 billion.

https://www.marketwatch.com/story/bitcoin-surges-over-10-000-could-surpass-15-000-digital-currency-experts-say-11595853676

The $0.25 resistance has proven itself as a crucial point for the XRP price and today, we can see that there is another wave of profits for Ripple’s token. What we know from the cryptocurrency news is that the market may have finished its correction period and might be returning to the previous heights.

Now, we can see that all of the top 10 coins show positive price dynamics and the biggest gainer has been Tezos (XTZ) which rocketed by more than 10% in the past two days. The XRP price and its momentum is positive, but the token’s performance has almost not changed at all in the past week despite its rate rising by more than 2.89% in the last 24 hours.

We can also see that the XRP quotes on the daily charts continue to fail. The price returned below its moving averages (MA) which are used in the presence of a bearish trend. Currently, it is not possible for the bulls to seize this initiative and show positive XRP news today.

However, there is some uplink support which is important for the XRP price and the overall stability. On the RSI, we can notice regular upward corrections as it tested the 30 region on the indicators.

On the 4-hour charts, we can see that the Ripple XRP price has adjusted as part of the Triangle model. The values of the RSI have broken through the downward trend line and the general action we are seeing now is stable with a potential to overturn to bullish.

One should not exclude the attempts to test the $0.21 level, however, where the broken trend line is located. Only after that is where the start of the price growth may lie. In the words of one popular analyst, the XRP price and the token could visit massive heights of 80%. According to Credible Crypto, the decision of the Supreme Court of India to reverse the ban will be bullish for XRP.

“Regulatory clarity was the final piece of the puzzle that was holding Ripple back from going after the Indian remittance market aggressively. Great for XRP,” the analyst explained.

The price of Ripple (XRP) today is at $0.2426 with a 1.19% rise on the day.

https://www.dcforecasts.com/ripple-news/xrp-price-and-all-the-reasons-it-could-soon-break-above-0-25/