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Unless Bitcoin Price Soars by 80 Percent to $16,000, Viral 4chan Prophecy Ends Today

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  • Alex Dovbnya
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    On Bitcoin's 11th birthday, it's almost time to say goodbye to the legendary 2019 prophecy that turned out to be completely wrong in October

Unless Bitcoin Price Soars by 80 Percent to $16,000, Viral 4chan Prophecy Ends Today
Cover image via u.today

Bitcoin, the first cryptocurrency that is celebrating its 11th anniversary today, has proven that it can defy all the odds.

With that being said, skyrocketing by 80 percent to keep a viral 4chan prophecy alive is probably out of its reach. At the time of writing, the number one cryptocurrency is sitting at $9,240

As reported by U.Today, an anonymous user posted a Bitcoin price prediction back in January 2018 on the /biz/ imageboard. It turned to be incredibly accurate, hitting every single target from December 2018 till July 2019. 

Bitcoin Price
image by 4chan

Then, the mammoth-size drop that Bitcoin experienced on Sept. 25 has put a spanner in the works for Asuka cultists.

Bitcoin did surge by a headline-grabbing 40 percent a month later, which injected a new life into the prophecy (Edward Snowden himself tweeted about it).    

Too little, too late. With less than one day left till November, it's safe to say that one of the most prescient Bitcoin price predictions will be left in the past, but some traders are not losing faith. 

Even after the broken streak, there is still a possibility that the crypto community might recall the great 2019 prophecy one more time if Bitcoin touches $29,000 in February 2020. 

Subscribe to U.Today on Facebook, and get involved in all top daily cryptocurrency news, stories and price predictions!

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an 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.

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Crypto Expert Says Bitcoin and Ethereum Are 'Formidable' Collateral Economies

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  • Alex Dovbnya
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    Holding Bitcoin as a collateral is the next big use case for the top cryptocurrency

Crypto Expert Says Bitcoin and Ethereum Are 'Formidable' Collateral Economies
Cover image via 123rf.com
Contents

According to cryptocurrency influencer Chris Burniske, both Bitcoin and Ethereum already represent formidable collateral economies.

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Moving beyond a medium of exchange

In his earlier tweet, Burniske also predicts that holding Bitcoin as a collateral could eclipse its medium of exchange (MoE) use case.  

He even goes as far as claiming that Bitcoin could morph into an off-chain collateral for the world. 

Burniske states that Ethereum has already created a burgeoning collateral economy around it. Apart from extending its utility beyond a pure MoE, this could also drastically decrease the coin's volatility because of all DeFi use cases.   

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The next big thing in crypto

As reported by U.Today, Genesis Capital, a subsidiary of Digital Currency Group (DCG) that rules the roost in the cryptocurrency lending sector, had a record-breaking third quarter with a whopping $870 mln in new originations. 

In Q3, Bitcoin remained the best collateral for crypto with fiat money and altcoins breathing down its neck. The share of USD loans increased by 25 percent quarter-over-quarter.

However, a group of Wall Street traders made a dire warning about crypto lending, claiming that the breakneck speed of its growth could result in another crypto bubble. 

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an 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.

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