Bloomberg Research in its Bitcoin Report:2020 has a prediction on Bitcoin price. According to the premier research institute, the price of Bitcoin will see a new height of $20,000 by the end of the year. McGlone from Bloomberg Research has opined that the Bitcoin price will touch $100,000 by 2025.

Further Reasons

PayPal’s crypto entry has given a new boost to Bitcoin. PayPal has a huge customer base and operation in more than 200 countries. As of June 2020, it has 346 million active PayPal accounts worldwide. The news of PayPal’s crypto indulgence had made Bitcoin jump from around $12,300 to $12,900.

Unicas is going to start its operation through thirty-six branches now. It has planned to scale up in 2021 when it will have 100 branches across India. They will offer an interest in crypto deposits. Customers can open accounts with them for storing and transacting cryptocurrency.

Launching New Crypto Firms and Entry of Big brands

In cryptocurrency maters, regulators in India are keeping themselves at distance. The Supreme Court of India has allowed the transaction of cryptocurrency in India. Still, the regulators are not interested to get indulged in crypto matters.

This move would provide extra mileage to the digital currency. The Crypto Visa Cardholders can take advantage of this card. The card will be valid for shopping and other activities. Therefore, this card is going to give a seamless transaction experience to the users. The users can use cryptocurrency the card throughout the globe. It will go hand in hand with Visa cards.

Coinbase

Key Features of Coinbase Card

The transaction process is at lightning speed. It’s a kind of real-time experience. Coinbase does all the digital currency conversions itself without any third-party involvement. This makes it different from other digital currency exchanges. Besides, it makes the process even quicker and flawless

Conclusion

The value of the cryptocurrency has left gold and silver behind it. Bitcoin‘s price (BTC) has crossed the $13,000 mark on 24th October 2020. There was an 8 percent single-day rise which is the 20^th highest single-day rise since October 21, 2019. It is the highest value Bitcoin has seen since July 2019. Although surpassing $13,000 would be taken as a new milestone among crypto enthusiasts, it’s not fairly the largest rally in the past year. On Jan. 15, 2019, bitcoin was closed above $13,000. Crypto enthusiasts might be remembering that after 6 weeks after that day bitcoin reached an all-time high of $19,892.

The rally comes only after few hours of PayPal’s announcement of its entry into the cryptocurrency market. Recently, PayPal has revealed its plan of facilitating to buy, sell, and hold bitcoins, Litecoin, Ethereum, and Bitcoin BTC Cash.

Why Cryptocurrency is flying?

PayPal’s entry into the crypto market has provided a boost to the acceptance of digital currencies. Recently, Square and MicroStrategy have bitcoin investments. All this good news has resulted in this upsurge in bitcoin price.

This high rise of Bitcoin price implies that the world’s widely accepted cryptocurrency has now surpassed gold and silver to be the best “commodity” among the three. In the last week, the bitcoin price was up by 55% since October 21, 2019. Contrarily the price of silver and gold over the same period has increased by 40% and 27% respectively.

There are still people having skeptic views on cryptocurrencies. Recently Mike Novogratz, the former Goldman Sachs partner, and hedge fund manager has opined that Bitcoin is packed with values similar to “digital gold,” and will not likely be used as transactional currency for the next 5 years.

Positive impact on BTC share values

Blockchain stocks are keeping on rising as Bitcoin carry on mounting. Bitcoin-U.S. dollar prices reached a 16-month high in early U.S. trading this week. Bitcoin (BTC-USD, +4.5%) reached a new high, by breaching the $13.6K mark on 27th October 2020.

Bulls are in strong technical control as prices are in and keep on mounting on the daily chart. Indications are there, it may keep on rising in the coming weeks.

The bright future for BTC

BTC is going to be the digital currency of the future generation! Now the volume of the cryptocurrency market has reached around $397.9 billion. The figure was around $195 billion at the start of the year. To date, bitcoin has been the biggest digital coin with a market cap of $244 billion. Bitcoin has captured around 61% of the total market. Trends show that the worth of BTC is going to increase in the future.

Conclusion

Cryptocurrency has become the most valuable commodity while gold and silver are satisfied with the next two positions. The recent upsurge in the value of the digital currency is believed to be the entry of a few big names like PayPal, Square, and MicroStrategy, etc into the cryptocurrency market. The market analyses anticipate that the Bitcoin price is going to rise in the time to come.

PayPal has put its steps in the cryptocurrency market recently. The money online platform has announced that PayPal account holders now would be able to buy and sell Bitcoin and many other virtual currencies. PayPal Holdings, Inc. is a US-based company operating a global online payment system. It offers financial services like online money transfers, digital payment service, P2P payments, and debit card accounts. It has established itself as an electronic alternative to traditional money transactions.

PayPal has secured the first provisional cryptocurrency license from the New York State Department of Financial Services. To offer this service PayPal has partnered with Paxos Trust Company. It is predicted that by the end of 2021, the retail payments done with Bitcoin, Litecoin, and Ethereum by PayPal users could seemingly double and attain USD 50 billion marks. According to CEO Dan Schulman, the expectation for this development is to help nurture the global acceptance of virtual coins and to get ready for the firm for the upcoming digital currencies.

A Boost to Cryptocurrency

Industry experts believe that the entry of PayPal in the cryptocurrency market would boost it. PayPal’s entry implies that the 26 million PayPal account holders can now make cryptocurrency buying using the PayPal platform. After this announcement by Paypal, the market leaped by almost 15% in the BTC price. In addition to that, the other cryptocurrencies supported by PayPal also experienced an average weekly return of 10%-15%.

For the US market, PayPal is scheduling to bringing up buying options for the investors over the next few weeks, and within early 2021 it has a plan to fully rollout. PayPal has is planning to add a bunch of cryptocurrencies to its portfolio. The digital currencies that are waiting in rows are Litecoin, Ethereum, and Bitcoin Cash. The company confirms customers can now store all these digital currencies “directly within the PayPal digital wallet”.

PayPal is also aiming to amplify customer awareness around cryptocurrency. They believe this exercise would promote the adoption of crypto among users: They are planning to supply educational content regarding the cryptocurrency ecosystem.

Downsides of this PayPal Crypto association

However, it is revealed that PayPal wouldn’t allow its account holders to transfer their cryptocurrency into or out of PayPal. Secondly, they would not have any control of the private keys, a long string of numbers and letters that allow holders to move their digital assets. PayPal plays a kind of dictatorship on what users can do or not do with their cryptocurrencies.

PayPal Competitors

Considering ample opportunities and possibilities that cryptocurrency offer more numbers of big players are gradually embracing digital coins. Before the entry of Paypal, the Robinhood trading app has allowed crypto since 2018. Similarly, Square users have been trading in crypto for quite some time. After the announcement of PayPal’s entry companies like Visa and Ternio has also announced to team up to help crypto companies.

Bottom-line

Cryptocurrency, although consider as the “future currency” of the world, there are many who are still skeptical about virtual currency. But gradually crypto is getting more acceptance from big horses of the financial world. By the entry of PayPal in the fray, cryptocurrency is undoubtedly going to gain a lot in times to come.

Bitcoin Code is gaining immense popularity among investment enthusiasts throughout the world. CFD trading facilitates speculation on volatility in prices in the market. There are an array of advantages of the Bitcoin Code than that of investing in any other way. Bitcoin Code is a cryptocurrency trading bots. It gave birth to the world’s first digital cryptocurrency named Bitcoin.

Bitcoin Code Code System

Bitcoin is the world’s first cryptocurrency. It is a decentralized system where one to one transaction takes place. In addition, this currency is not under any central bank or government or agency. Bitcoins can be barter for physical currencies, goods, or any services. Digital currency is getting a lot of attention these days. Many global companies are embracing this currency because of its advantages and usability.

Key Advantages of Bitcoin Code

• A decentralized system
  
• Exist and work and as programmed by the creator. Nobody controls its functioning as it is automatic.
• Negligible transaction fees because unlike physical currency transactions here there are no physical or human resource fees.
• Not affected by financial instability of physical currencies like Dollars, Euro, or Yen
• Not affected by political instability in any nation.
• No government, bank, or authority can stop your virtual currency.
• The transaction is secure and transparent and recorded.
• Data is secure in the blocks.
• Transactions are fast and irreversible
• Transactions are one to one as there are no intermediaries involved. It also lessens the operation time. It decreased the functioning cost, hence, transaction cost.
• It’s a virtual currency hence more safe and secure against getting stolen and inflation

Conclusion

Bitcoin Code is going to be the currency of the future. It’s speculated by many financial experts. Therefore, many big corporations are jumping to the crypto market in recent days. Bitcoin Code functions without the involvement of any person or physical entity. This trading software is very fast and stores record in a systematic and secure way.

The prediction

In a few years, the bitcoin price could breach the $1 million from the current figure of approximately $11,000mark. Amid mounting concern among the investors over “central bank and government stimulus measures”, this is good news. Raoul Pal, a former Goldman Sachs Hedge Fund chief, has recently had this startling prediction. He believes that bitcoin will surge to $1 million in the next five years. Pal told this to Stansberry Research in a recent interview.

Since January, the price of bitcoin has gone up to $11,400 per bitcoin. This is a 50% change since January 2020. According to Statista, a full-service market research firm and the world’s number one business data platform Bitcoin is the biggest digital currency. By market capitalization, it is at about $200 billion.

More revelation

Raoul Pal has invested more than 50% of his capital in bitcoin. He believes that the adoption of the digital currency by institutional funds is happening in a bigger way. It is because institutions realize that, due to the COVID-19 situation, it may take a very long time for the economy to return to normalcy. Every stakeholder is eyeing at it. There is no shortage of smart people who are working on it.

Pal said again, his trading positions are comparatively small. This is because he doesn’t foresee as much opportunity there, as in bitcoin. According to him, in reality, he possesses primarily, a small amount of cash, some gold, and bitcoin. He further reiterated that he is now thinking of selling his gold to buy more bitcoin.

As per Nigel Green, the chief executive of independent financial advisory deVere Group – Investor activity is increasing significantly. A range of on-chain metrics and high-level global political, economic, and social disturbances is signifying that there will be a price surge in the price of bitcoin before the year ends. According to Tyler Winklevoss, the quantitative- easing program is going to boost up bitcoin.

Bitcoin marching ahead

It is noteworthy, both bitcoin and cryptocurrency enthusiasts were enthralled last month. This was when a major Tesla investor predicted a $1 trillion market cap.

Pal said he got to know that there is an enormous wall of money coming into this. He realized this when he interacted with institutions and people who matters. According to him the upcoming developments in “the pipes” would encourage investors to buy bitcoin.

In recent weeks, several high profile companies have invested heftily in the cryptocurrency. Jack Dorsey, a blunt advocate of bitcoin and payments company Square has bought $50 million worth of bitcoin.

When other assets fall, just like gold, bitcoin has the potentiality to hold on to its value or even grow up in value. This enables investors to trim down their chances of loss. Investors will be more and more interested in secure digital currencies. This includes bitcoin which is highly decentralized and non-sovereign. These advantages would protect them from the potential issues and concerns generally experienced in traditional markets.

Finally, the much looked-for “CoinGecko Q3 2020 Quarterly Cryptocurrency Report” is out. The report portrays the state of the matter related to cryptocurrency with a thorough analysis backed by data. CoinGecko is known as one of the biggest and oldest crypto data aggregators. The company is in operation since 2014. At present, it tracks almost 5909 tokens from over 403 cryptocurrency exchanges.

Q3 2020 Quarterly Cryptocurrency Report

The Q3 2020 report reflects upon the important, illuminating, and, illustrious time that was for the growth of Decentralized Finance (DeFi). Q3 2020 was very fertile for the cryptocurrency as the total crypto market cap continuously uptrend these days except a minor dip in the mid-September. The period defines the course of growth in this financial segment.

It was the period when you witnessed an array of new decentralized exchanges becoming popular. Credit goes to Compound that initiated the yield farming trend way back in June. Decentralized exchanges keep on to on the rise at a very rapid rate than its counterpart, centralized exchanges.

Crypto is marching ahead

The crypto world is transcending with an unbelievable speed, and Yield Farming is one of the catalysts for this development.  Yield farming is the process of placing your assets to act across a range of Decentralized Finance (DeFi) protocols. The ultimate aim here is to get the best possible returns out of this financial arrangement. By using diversified strategies of different risk levels, it is possible to fetch a very high return of 1,000% Annual Percentage Yield (APY). This is the prime reason why Yield farming is gaining such astonishing importance.

At the end of Q3, capital inflow decelerated a little bit due to the lesser return from yield farming. Still, it is likely to maintain its growth trend so long as returns do better than the traditional markets.

The Q3 2020 Quarterly Cryptocurrency Report has brought insightful facts and figures on cryptocurrency and related operations. The key highlights of the report are described below.

Key highlights:

1. Q3 saw Market Capitalization growing at nonstop speed (by 31% or +$75b). This has happened, irrespective of the September debacle due to COVID-19 and the upcoming U.S. elections. These two factors reinstalled panic into the markets that resulted in ‘sacrificing’ of some of the achievable gains.
2. A marginal growth of (+8%) in the price of Bitcoin was reported in this quarter. On August 18th, the price of Bitcoin reached a new height of $12,272.
3. Q3 2020 witnessed capital inflow to the volume of over $9 billion. This was possible by getting thrust from the yield farming movement opportunities that get you lucrative returns. The quarter saw capital inflow to the Ethereum blockchain at its biggest ever amount since its beginning.
4. As DeFi grows in importance, Uniswap becomes stronger and shown its supremacy in the DEX market from 47% to 63%. During this period, Uniswap along with Curve stayed on as the leading trading opportunity with 80% of the DEX market share.