Market Update 3.19.18 – Bitcoin May Reach $91,000 by 2020
Bitcoin May Reach $91,000 by 2020
Tom Lee from Fundstrat has forecast that Bitcoin’s price could go up to $91,000 by 2020. He based his prediction on the movement of Bitcoin prices over the years.
According to the data that he collated and analyzed, there has been a trend on how Bitcoin’s price has moved, especially after a dip or correction.
The chart that Lee used is based on a logarithmic scale and not a linear one, which means that the cryptocurrency’s high and low movements would not be as apparent.
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Twitter to Follow Facebook and Google?
There have been unconfirmed reports that Twitter is planning to follow Facebook’s and Google’s footsteps in banning cryptocurrency related advertising in the next two weeks.
According to Sky News, the agency that first reported this information, the new advertising policy would be implemented in the next two weeks and would prohibit ads for ICOs, token sales as well as cryptocurrency wallets. This ban would be global.
Twitter has been struggling with a huge influx of fake accounts where cryptocurrency giveaways are being advertised, but these are actually scammers at work.
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Northern Trust Partners with PwC for Instant Audits
Northern Trust, one of the biggest banks in the US, is partnering with the accounting firm, PricewaterhouseCoopers, one of the “Big Four” accounting firms, to enable large-scale adoption of its private equity funds platform that has been built using blockchain tech.
The bank and the accounting firm introduced new tools to the platform which now allow private equity fund auditors almost immediate access to all data stored in the company’s blockchain. This means that auditors no longer have to wait for the periodic reports to be released to check actions taken by fund managers; the data would be available at any time they need it.
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Total Market Cap: Mar 19
So far, the last 24 hours have shown an improvement in the cryptocurrency market’s numbers. Trading volume finally saw an upswing, with the figure going up to 18.59 billion. Market capitalization for the cryptocurrency industry also went up to $315.67 billion.
Bitcoin Price Analysis: Mar 19
Bitcoin has finally started the week on a better note, with the cryptocurrency gaining by 6.48% to currently trade at $8282.63. Additionally, trading volume has almost doubled to $7.04 and Bitcoin’s market cap has gone up to $140.50 billion.
Ethereum Price Analysis: Mar 19
Ethereum also made a slight gain, going up by 3.26% to a current token price of $531.41. The market value of Ethereum is currently at $52.41 billion. The cryptocurrency’s trading volume has also increased to $2.69 billion.
State of the Top 10 Cryptocurrencies: Mar 19
The first day of the week has started well for the top 10 cryptocurrencies in the world, with all of them trading up after a poor weekend’s performance.
- Bitcoin is being traded at a token price of $8282.63, rising up 6.48%. The market value of Bitcoin is now $140.50 billion.
- Ethereum’s trading price is right now $531.41, rising up 3.26%. The market value of Ethereum is now $52.41 billion.
- Ripple’s trading price is right now $0.65, rising up 8.33%. The market value of Ripple is now $25.60 billion.
- Bitcoin Cash’s trading price is right now $932.85, rising up 2.65%. The market value of Bitcoin Cash is now $15.88 billion.
- Litecoin’s trading price is right now $155.11, rising up 5.63%. The market value of Litecoin is now $8.63 billion.
- Cardano’s back in 6th place and its trading price is right now $0.165237, rising up 17.72%. The market value of Cardano is now $4.28 billion.
- NEO’s trading price is right now $65.77, rising up 13.82%. The market value of NEO is now $4.27 billion.
- Stellar’s trading price is right now $0.222408, rising up 25.35%. The market value of Stellar is now $4.11 billion.
- EOS’s trading price is right now $4.73, rising up 8.98%. The market value of EOS is now $3.49 billion.
- IOTA’s trading price is right now $1.22, rising up 8.92%. The market value of IOTA is now $3.40 billion.