Bitcoin Price to Hit $20,000 in Late 2019 Thanks to BTC Millionaire’s New CoinBits Service

  • Yuri Molchan
    📰 News

    Teen crypto millionaire Erik Finman declared Bitcoin dead in 2018, but now he plans to ‘resurrect’ BTC using his new crypto service


Bitcoin Price to Hit $20,000 in Late 2019 Thanks to BTC Millionaire’s New CoinBits Service
Contents

Last year, teen crypto millionaire Erik Finman claimed that Bitcoin and the whole crypto market was dead. The thing took place in the middle of the bearish market, when the top ten coins lost nearly 90 percent of their value.

Now, Forbes reports that Finman has an idea for a way to bring the Bitcoin price back to its ATH of nearly $20,000, reached in 2017.

Bitcoin market is reversing, hinting at a further rise

In 2019, the Bitcoin rate reversed and has been escalating for a while already, pulling up the top ten assets along with it. One of the reasons for that was that Silicon Valley became interested in the integration of crypto payments.

Besides, Erik Finman says that he has a plan, which in combination with crypto adoption of other major companies, such as Facebook, AT&T and others, will push the Bitcoin price back to $20,000 by the end of this year.

Speaking to Forbes, Finman called 2019 a new 2017 for crypto and said that BTC will be able to maintain its status as the world’s major crypto if it can fix all of its current issues.

Cryptocurrency is hitting its stride and all the things happening in the tech and finance industry right now are boosting bitcoin and crypto. Blockchain is the cutting edge."

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Finman’s new Bitcoin service

Finman has suggested that the Bitcoin community should work in four directions if they want BTC to survive and keep its ‘world’s favourite crypto’ status.

Those are lower transaction charges, the ceasing of fights inside the community, and higher adoption.

As for Bitcoin adoption and use, Finman is working on a BTC service dubbed CoinBits.

It already has a staff of 10 people and 10,000 users. CoinBits enables US customers to purchase Bitcoin in small amounts using their credit cards. He says this will increase real-world BTC purchases.

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About the author

Yuri has worked in crypto since 2017. A translator, quickly became a crypto enthusiast. He has worked for several Telegram channels covering cryptocurrencies. Currently is a news writer, covering crypto and blockchain-related topics.

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Wall Street Is Extremely Bullish on Facebook’s Cryptocurrency  


Wall Street Is Extremely Bullish on Facebook’s Cryptocurrency  
Contents

Social media juggernaut Facebook is about to launch its Libra cryptocurrency, which, as expected, is currently on everyone’s lips.

According to a recent CNBC report, financial analysts appear to be on the same page when it comes to bullish Facebook predictions.   

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The talk of the town

There is a schism in the cryptocurrency community concerning Facebook’s foray into crypto. While some think that Facebook undermines Satoshi Nakamoto’s vision of a decentralized cryptocurrency, prominent influencers, including Mike Novogratz and Anthony Pompliano, look at the bright side.

On the flip side, major Wall Street players seem to agree that Facebook’s stock will see plenty of love once the company unveils its much-talked-about crypto project.

SunTrust, MoffettNathanson, Bank of America stick with a “buy” rating on Facebook.

MoffettNathanson goes as far as claiming that the Mark Zuckerberg-led company aims to become the biggest e-commerce platform on the planet.

We believe a Facebook cryptocurrency-based payments system could be especially useful in countries with high inflation/unstable banking systems and for cross-country remittances. So, Facebook’s commerce ambitions do not appear to be limited to developed markets. Rather, Facebook has its eyes set on becoming the world’s leading ecommerce platform as well.”

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Not the right company?  

As reported by U.Today, Facebook joined forces with VISA, Paypal, and a slew of other startups that became part of the Libra consortium for a whopping $10 mln fee.

The company itself remains radio silent about its crypto ambitions, but there have been countless reports on that topic since December.

We are about to see a fiat-pegged stablecoin that will be integrated into Facebook, Instagram, and WhatsApp.

After being plagued with huge data scandals, Facebook will probably have a hard time convincing regulators to green-light its new cryptocurrency. Hence, it might be a promising idea, but not the right company to pull it off.

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About the author

Alex Dovbnya (aka AlexMorris) covers all things crypto — from major projects, which are fighting tooth and nail to gain the upper hand in the burgeoning industry, to the latest regulatory trends around the world. When he happens to take a break from crypto, Alex delves into cognitive linguistics (metaphors can be fun too!).

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