U.Today is supported by its audience. When you buy through referral links, we may earn a commission.

Bitcoin (BTC) Can Help Rebuild Most of Global Financial System: VanEck’s Crypto Chief

News
Tue, 02/18/2020 - 15:08
Put your
crypto to
work
  • 1.30

    Interest per week

  • 67.5

    Interest per year

  • 3.60

    Interest rate

Join Now!
Sponsored by Celsius.Network
  • As BTC has recently demonstrated a surge of over $10,000, VanEck’s top exec Gabor Gurbacs states that BTC can serve as a basis for rebuilding the global financial system

Cover image via www.facebook.com
Contents

Despite the recent Bitcoin retracement back below the $10,000 level, crypto bulls remain positive that Bitcoin is able to not only skyrocket in the near future but also play a bigger role in the global economy.

Bitcoin-based global financial system

The crypto chief of VanEck, Gabor Gurbacs, has posted a tweet, saying that the major crypto asset can serve as a basis for rebuilding most of the global financial system. That would be the choice if there’s no other sensible option, he adds.

In the comment thread, he states that this new system is already being created.

Peter Schiff predicts BTC collapse in ten years

Earlier today, a famous Bitcoin hater, Euro Pacific Capital CEO Peter Schiff, admitted that he never said that the BTC price was unable to rise. Indeed, he says that those who bought BTC ten years ago, are now making a fortune selling it.

However, he is certain that those who wish to follow their example and buy BTC today will regret this in ten years’ time.

Must Read
New Bitcoin (BTC) Extortion Scam Targets Website Owners - READ MORE

BTC Golden Cross + halving coming up

Dutch crypto analyst Michael van de Poppe is rebuking Bitcoin bears for maintaining their negative sentiment, despite the bullish fundamental factors that are on the horizon – the Golden Cross pattern and the approaching Bitcoin halving.

Both are expected to kick the BTC price well up.

About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

Recommended articles
COVID-19 Crisis Ruins Bitcoin's Q1, but Bulls Could Soon Have Massive Comeback

COVID-19 Crisis Ruins Bitcoin's Q1, but Bulls Could Soon Have Massive Comeback

Ripple's Xpring Wants to Make XRP Transactions Private. Is This Possible?

Ripple's Xpring Wants to Make XRP Transactions Private. Is This Possible?

Bitcoin Price Spikes to Nearly $7,000 on Kraken as Whales Transfer More Than $300 Mln Worth of BTC

Bitcoin Price Spikes to Nearly $7,000 on Kraken as Whales Transfer More Than $300 Mln Worth of BTC

COVID-19 Crisis Ruins Bitcoin's Q1, but Bulls Could Soon Have Massive Comeback

News
Tue, 03/31/2020 - 19:25
Put your
crypto to
work
  • 1.30

    Interest per week

  • 67.5

    Interest per year

  • 3.60

    Interest rate

Join Now!
Sponsored by Celsius.Network
  • Bitcoin (BTC) bulls have high hopes for Q2 after the coronavirus-induced crisis tanked the price of the leading cryptocurrency

Cover image via stock.adobe.com
Contents

Bitcoin, the number one cryptocurrency by market capitalization, is set to finish its tumultuous first quarter of 2020 in the red with a 10.65 percent drop, according to crypto data provided by Skew.    

As reported by U.Today, it suffered a price crash of enormous magnitude due to the coronavirus pandemic that resulted in the global economic shock. 

Must Read
Bitcoin (BTC) Price Has Very Low Chance of Hitting New All-Time High This Year - READ MORE

The stellar quarter that wasn't 

In early 2020, Bitcoin was on track to have its best Q1 since 2013. In fact, it gained more than 50 percent after reaching its current yearly high of $10,508 on Feb. 13. However, this rally hit a snag and BTC printed its first negative February close in six years

All bull dreams have been brutally shattered after the 'Black Thursday' of May 12. On top of halving its price in less than one day, BTC was actually in great danger of hitting zero because of a string of liquidations on BitMEX. 

Must Read
Binance CEO Explains Why Bitcoin (BTC) Price Can Easily Reach $100,000 - READ MORE

The odds are in the bulls' favor  

That said, there is still a good chance that the bulls can stage an impressive comeback in Q2, which is historically the most successful quarter for the leading cryptocurrency.

Last year, BTC kicked off its impressive rally on Apr. 2 with a sudden 20 percent price pump.   

At press time, BTC is sitting at $6,480, continuing its streak of range-bound price action.  

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

Recommended articles
COVID-19 Crisis Ruins Bitcoin's Q1, but Bulls Could Soon Have Massive Comeback

COVID-19 Crisis Ruins Bitcoin's Q1, but Bulls Could Soon Have Massive Comeback

Ripple's Xpring Wants to Make XRP Transactions Private. Is This Possible?

Ripple's Xpring Wants to Make XRP Transactions Private. Is This Possible?

Bitcoin Price Spikes to Nearly $7,000 on Kraken as Whales Transfer More Than $300 Mln Worth of BTC

Bitcoin Price Spikes to Nearly $7,000 on Kraken as Whales Transfer More Than $300 Mln Worth of BTC