Bitcoin has No Intrinsic Value But Seems Its Scarcity is the True Backing of its Price

Bitcoin's excessive price volatility has elicited numerous discussions about whether the digital asset has intrinsic value. Since its launch in early 2010, Bitcoin has displayed a wild price ride. In April 2021, it hit an all-time high price of around $64 000. Furthermore, 2017 was a historic year in Bitcoin's price charts. Then, the coin started trading at $1,000 and ended at $19,783.06, representing a 1,824% increase in value.  Bitcoin has historically risen in value, with experts predicting that the…

CEO at Thiel Capital Says U.S. Government Should Purchase Bitcoin

Blake Masters, an American venture capitalist, and CEO at Thiel Capital, called upon the U.S. government to purchase Bitcoin. He noted they do so as a reverse strategic asset after China moved to ban it once more. Thirty-five years old Blake, who is also an author, is currently running for a U.S. Senate seat. He wants to represent the state of Arizona. Blake informed the public that his campaign now accepts donations in the most prominent cryptocurrency. He asked the community to D.M. him…

Analysts Remain Optimistic of an Imminent BTC Price Surge despite Current Pullback

Bitcoin is trading in a short-term bearish zone after it tanked below $40K on Aug 3 as bulls failed to force a breakout above the $42K level. The coin hit highs of $42,435 on Aug 1 following three days of convincing attempted breakouts above that stubborn resistance, but upward momentum is now fading. BTCUSD has broken below $38.4K at press time after shedding 4% off its gains in the past 24 hours. After breaking below the $39,200 support levels in…

BTC Price Dips Below the $32K Critical Hold Point: Is This The Market Bottom?

Bitcoin failed to gain momentum over the past 24 hours and dropped almost below $31K as the broader crypto market struggled to rebound. According to a tweet from respected trader Byzantine General, retail investors are cashing in on the decline by consistently short squeezing the flagship cryptocurrency. This trend might spark some panic selling in the market, pushing prices closer to the much-awaited bitcoin bottom. Responding to Byzantine general’s outlook on the bitcoin market, one Twitter user wrote: “Chances of…

5 Reasons Why BTC Price Can Still Reach $100k in 2021

Bitcoin price is currently well over $50k with an outstanding 66% market dominance making it the highest valued cryptocurrency. The crypto developed in 2009 has seen its high prices realized through the end of 2020 and the first quarter of 2021.  The records show an all-time high price of $61.55k, and future predictions lean on the increase in its price up to $100k. Certainly, the BTC rally doesn’t seem to have run out regardless of the 600% price surge since…

Bitcoin Price Rallies above $19,000 As Investors Target $20k

Bitcoin embarked on a rally in the last 24 hours after facing a correction and dipping below a key support level. Over the past week, Bitcoin has failed multiple times to surpass the $19,500 resistance level as it looks to make the next push in the bullish run. Most buyers have been waiting for the leading coin to make a breakout rally, but it has largely followed swing trading. Sellers have taken advantage of this and made significant profits, which…

Will BTC Miners Affect BTC Prices After The 2020 Halving Event?

The countdown to the much anticipated May Bitcoin halving event is finally over, and all key players expect this event to go down in their favor. Bitcoin miners are perhaps the most affected by this third halving. They had to invest more in equipment, will have to work more complex mathematics, and above all, earn 50% of what they received four years ago. The other groups anticipating this event are seasonal investors for the hype and seasoned bitcoin investors, some…