When Will Bitcoin Stun Everyone Again With Crazy Growth?

Although Bitcoin has had a bumpy start to the year, analysts believe it will eventually reach $100,000 – and that it will be a matter of when not if. Learn more about Bitcoin price jumps, such are those listed in the post below, and when you think the time is right, you can go to CEX.IO and how to purchase crypto using Google Pay.

Bitcoin’s price has hovered above $40,000 as investors worry about growing inflation, geopolitical tensions, and the potential of the US Federal Reserve tightening monetary policy.

Bitcoin had been on the rise recently, trading above $47,000 before falling below $45,000 following the Fed’s hawkish comments. In addition, according to the most recent inflation report released, consumer prices increased by 8.5 %in the year to March.

In recent months, the crypto market has been more closely linked to the stock market, making it even more interwoven with global economic variables like those resulting from Russia’s war in Ukraine. Experts predict that the war will cause further instability in the following weeks and months with no end in sight.

“Amid increasing geopolitical dangers and growing concerns about the economic future, volatility will most certainly return to Bitcoin – and the conventional financial markets,” Bitfinex’s trading staff predicted in a tweet. Bitfinex is a cryptocurrency derivatives exchange situated in Hong Kong.

Over the course of early 2022, Bitcoin has only been above $45,000 for a few brief periods, and it hasn’t been above $50,000 since December 25, 2021. Despite this, Bitcoin has remained above its 6-month low of $34,000, which it hit in late January.

Despite the ups and downs, Bitcoin’s current price, at the time of making this post, is still a long way from its all-time high of $68,000, which it reached in November of 2021. It’s worth more than twice as much as it was just a few years ago. These types of ups and downs are nothing new for Bitcoin.

Many analysts predict Bitcoin will eventually reach $100,000. However, there are varying opinions on when that will happen. According to a recent poll conducted by Deutsche Bank, over a quarter of Bitcoin investors believe the cryptocurrency will be worth more than $110,000 in five years.

Volatility is nothing new, and it’s one of the reasons why new crypto investors should proceed with caution when devoting a portion of their portfolio to cryptocurrency. Over the years, Bitcoin’s value has climbed as steadily as any other cryptocurrency. It’s only reasonable for Bitcoin investors to be concerned about its future potential.

What Influences Bitcoin’s Price

Supply and demand, public mood, the news cycle, market events, scarcity, and other economic factors all influence the price of cryptocurrencies, just as they do any other currency or investment.

Bitcoin’s value is influenced by more factors than ordinary currency or securities because it is a new and emerging asset. Here are a few examples:

Scarcity

Currently, there are only 18 to 19 million Bitcoins in circulation, with manufacturing stopping at 21 million. According to industry insiders, the intrinsic scarcity of bitcoin is a significant component of its appeal.

According to Alexis Johnson, president of Light Node Media, a blockchain public relations and events agency, “there is a set supply but escalating demand.”

Other analysts argue that Bitcoin is valuable because people value it. “The psychological factor is why everyone is buying,” says Nelson Merchan, co-founder of Johnson’s Light Node Media. This determines if Bitcoin and other cryptocurrencies are authentic challenges for the typical customer. The supply and demand principle only works when people want something scarce – even if it didn’t exist before.

Mainstream Adoption

According to Waltman, one of the critical causes fuelling Bitcoin’s price surge is the rate at which new users are buying and investigating cryptocurrencies.

She claims that “crypto technology is being accepted higher than humanity first adopted internet technology.” The compounding acceleration of new adoption might continue to push Bitcoin’s value higher and higher, assuming it continues.

Mining Cycles

Finally, a cycle known as halving has a significant impact on Bitcoin’s price. Although it is complex and algorithmic, halving is a stage in the Bitcoin mining process that reduces the pay-out for mining Bitcoin transactions.

Price Predictions

Coming off it’s all-time high in November 2021 it wasn’t simple to anticipate a Bitcoin price over $100,000 late last year. With Bitcoin’s steep decline since then, the prediction game has become much more challenging.

In November 2021, Kate Waltman, a New York-based certified public accountant specialising in crypto, said: “The most educated instructors in the sector are expecting $100,000 Bitcoin in Q1 2022 or sooner.”

But, as influential organisations like Nike and other big brands explore methods to monetise their products in the digital metaverse, bullish analysts are re-evaluating the crypto industry. The popularity of altcoins is growing due to the emergence of metaverse worlds, products, games, and experiences, which has shifted investor perceptions of Bitcoin (known as the original crypto).

Many experts are hesitant to estimate a specific amount or a particular date instead of pointing to the trend of Bitcoin’s value increasing over time. Last October, Jurrien Timmer, director of global macro at Fidelity Investments, forecasted a “very sustainable” growth in Bitcoin’s long-term value, driven by organic market activity, with the $100,000 milestone insight.

Conclusion

Volatility makes determining the “what” and “why” of your bitcoin approach challenging. Consider what you intend to achieve and why you want to join in such a volatile market before investing in Bitcoin or any alternative asset. This will make it easier for you to stay focused.

How the Bitcoin Credit Card Works

Since the beginning of time, we have accepted money as our medium of exchange. And today, Bitcoin has taken charge. It also made it possible for anyone to send money without the use of any third parties. In fact, the total value of all existing cryptocurrencies exceeds $2 trillion.

Different financial service organisations are now using this currency to attract new consumers. If you have Bitcoin and need to make regular transactions with it, then you should get a Bitcoin credit card. It gives you control of your own wallet and private keys that allow access to your funds.

By now you may be wondering how buying a cup of coffee with Bitcoin works. If you want to keep your fingers on the Bitcoin pulse, then a Bitcoin credit card is a great way to go. But what is it all about? Here’s everything you need to know about Bitcoin credit cards and how they work.

What is a Bitcoin Credit Card?

A Bitcoin credit card works like a traditional rewards credit card. It rewards credit card transactions with Bitcoin instead of mileage or cash back. You can place a higher priority on receiving your rewards in Bitcoin rather than cash.

But to reap the benefits of using one, you should have an excellent credit score. According to any credit bureau agency, the highest you can get is an 850 credit score. This is known as the perfect credit score. With such a score, you can have better financial options, including loans and mortgages.

So how do you get an 850 credit score?

Getting the perfect credit score is hard, but not impossible. All you have to do is make a habit of following the best practices below:

  • Make timely payments on your loans, credit cards, and the likes
  • Pay your debts weekly so that you can avoid having balances
  • Consider increasing your credit limit
  • Keep your old accounts open
  • Apply for new credit cards only when you need it

It also helps to monitor your credit report regularly. This will help you identify any discrepancies in your report. Should there be any, get the help of credit repair services to get your credit fixed.

They work with creditors and credit bureaus to improve your credit score by cleaning up your credit records. Top-rated credit repair companies can help you improve your credit score, especially if you have bad credit.

If you’re wondering how much credit repair costs, no worries. Some affordable credit repair services are available for you. These cheap credit repair services can also help you achieve the perfect credit score possible.

How Does the Bitcoin Credit Card Work?

Bitcoin credit cards function in the same way as any other credit card on the market. The more you spend on the card, the more rewards you get. But, in this case, you will receive bitcoin in exchange for your purchases. It’s worth noting that each card rewards you bitcoin differently.

To know more about how bitcoin credit cards work, here are some examples.

1. BlockFi Rewards Visa Signature Credit Card

BlockFi launched the world’s first Bitcoin credit card last 2021. After signing up, you will receive BlockFi’s Rewards Points instead of cryptocurrency. If you have purchases above $30,000 yearly, you can get 2% back in cryptocurrency. This resets every year on the card’s anniversary date.

BlockFi will turn the points into bitcoin as soon as you deposit them and your account is in good standing.

To get the card, you need to have an excellent credit score. If you’re finding it hard to improve your credit rating, hire credit pros to help you in this aspect.

With this card, you can earn extra rewards from your bitcoin holdings and cryptocurrency exchanges. You can get 0.25 percent cash back on all qualified trades and up to $500 in cryptocurrency every month. You can also get $30 in cryptocurrency for recommending the card to each person.

The card works on the Visa network and has no yearly or international transaction fees.

2. Gemini Credit Card

Gemini is a popular cryptocurrency exchange that also released a crypto credit card. This bitcoin credit card enters the market with the most flexible offer. You can earn rewards in a wide range of cryptocurrencies. You can, then, move them off the Gemini platform into your own cryptocurrency wallet.

Their rewards are proven to be competitive with those of others who offer cryptocurrency credit cards. The best thing is that there is no annual or foreign transaction fee!

To get this card, you need to qualify for the following:

  • You’re a registered Gemini user
  • A resident in the US
  • Have a 670 to 850 credit score
  • Have a driver’s license or passport

Once you’re approved, you can pick from three-card colours: black, rose, or silver. This customisation is not available on many credit cards. They will also give you a virtual card, so you can start using it right away while you wait for your real card to arrive. You can use your Gemini Credit Card in any place that accepts Mastercard.

3. Upgrade Bitcoin Rewards Card

The Upgrade Bitcoin Rewards Credit Card is one of several cards issued by Sutton Bank. It’s like a credit card and a loan in one. That means you can make purchases and then pay off your debt in equal monthly instalments. You can do this over a defined period of time with a fixed interest rate.

But that’s not all: when you make monthly payments, the card gives you 1.5% back in bitcoin. This makes it another product in a growing trend of credit cards that provide cryptocurrency incentives.

This is perfect if you haven’t decided on whether you should get into cryptocurrency or not. The Upgrade Bitcoin Rewards Card allows you to do so without risking your own money.

4. Venmo Credit Card

Many people use Venmo to send and receive money from their friends and family. But, if you look at the app’s other features, you’ll see that the mobile payment service has a lot more to offer. One such thing is the Venmo Credit Card.

You can participate in a personalised rewards program. By doing so, you can earn cash back on where you spend the most, with no annual fee. That means you will get 3% cashback on the top eligible spending category, 2% on the next, and 1% on others. These spending categories can include bills, dining, groceries, gas, beauty and health, and transportation.

You can use the rewards you get in different ways using the app, such as: 

  • Paying your credit card bill
  • Completing Venmo requests
  • Paying authorised merchants
  • Converting it to real money and transferring it to your bank account
  • Buying cryptocurrency

By applying for one, you will see that your Venmo app adds your Venmo credit card as a payment option. Additionally, you can use it in places where Visa credit cards are accepted. The QR code on your credit card also allows other people to “Venmo” you or request a payment on the spot.

Should You Get a Bitcoin Credit Card?

You should only apply for a Bitcoin credit card if it will reward your spending patterns. If you’re interested in cryptocurrencies, earning bitcoin incentives can be beneficial.

But make sure you understand the benefits of each card against the costs. Here are some thoughts to consider:

  • How much is the reward rate?
  • Will you be paying an annual fee?
  • Are there any other charges?
  • Are there other benefits or privileges that come with the card?
  • Is it possible to get a better deal with another card?

By choosing the best rewards credit cards on the market, you can get better benefits and incentives. Remember that you can buy Bitcoin using your cashback benefits from a regular credit card. It makes more sense to choose a credit card that offers a larger cashback rate in exchange for a lower annual fee.

While cryptocurrency rewards appear appealing, they are also volatile. It’s much like a stock market investment. There’s no telling what the value of the coins will be after a few months or so. Be sure you make the right decision when it comes to applying for bitcoin credit cards.

Final Thoughts

The Bitcoin credit card has the potential to change the way we use cryptocurrencies. It will be possible to pay for goods and services using bitcoins. This means that you won’t have to convert your bitcoins into fiat currency before buying. The more widespread the acceptance of cryptocurrency, the more useful this credit card will become.

If you want to test the waters of Bitcoin and cryptocurrency, it can be a good way to dip your toes in. There are plenty of options available right now, so you’re not limited to only one choice here. So go ahead and give Bitcoin credit cards a try. You never know what might happen.

4 Bitcoin Alternatives for Future Currency Investments

In economic management sciences, investments means longer-term savings. Bitcoin is without a doubt the most famous cryptocurrency across the globe. Created in 2008 as an answer to the growing distrust of the banks, its value has been changing over the years, and as of the moment of writing the article, is over $29000.

This is why so many people dream of turning back time and investing in it, years ago. Nevertheless, for those that weren’t lucky enough, and those that are just starting to invest in cryptocurrencies, thankfully there are many more options out there.

There are thousands of crypto coins you can choose from. Some are based on the first-ever blockchain created, Bitcoin’s blockchain, whereas others use other blockchains. Not all of the crypto coins you will encounter in crypto exchanges are equally as significant and not all of them will succeed. Ethereum is probably the most popular alternative to Bitcoin. However, if you are looking for some other interesting investments, here are four with great potential for growth.

Feathercoin (FTC)

Feathercoin is a refined and updated version of Bitcoin, and one of its popular alternatives. Forked from Litecoin (LTC), FTC is a crypto coin that, like Bitcoin, allows direct transactions without an intermediary. It allows faster confirmation of the transaction, thanks to its algorithm, based on NeoScrypt.

Aside from investing in Feathercoin, if you want to possess this coin, you can also mine it. You can do so with CPUs or GPUs. To mine FTC you also need to find a mining pool. To start mining you must create a wallet, where your work will be rewarded with coins. You can also choose a mining pool because even though the profits may be lower, the probability of profit increases.

Ripple (XRP)

Ripple’s native tokens, called XRP are currently among the most popular Bitcoin alternatives for investment on the market. It was designed to enable fast transactions, but instead of avoiding financial institutions, like banks, completely, it collaborates with them. This way, Ripple allows easier international money transfers, becoming a rival to the most widely used cross-border payment system, the SWIFT system.

By using blockchain technology, Ripple’s payment system, called RippleNet also makes money transfers faster and cheaper. Since more and more financial institutions implement it, its value is expected to grow. It uses a consensus mechanism made of independent nodes, which can process 1500 transactions per second, and ensures confirmation and validation of each transaction within 3 to 5 seconds. XRP can be exchanged for cryptocurrencies, commodities, and fiat currencies.

Celo (CELO)

Currently one of the top 100 cryptocurrencies on the market, CELO is a governance token, which means that as a holder, you can vote on different proposals regarding modifications to the asset allocation or any changes or upgrades to the protocol. It was designed as a utility for the Celo platform. The platform also has a native stable coin, called Celo Dollar (CUSD).

Celo is a Proof-of-Stake blockchain platform. It uses a consensus mechanism performed by nods. Aside from investing, you can also earn CELO. One way to do it is to become a validator. You can also earn CELO through staking, lending, and yield farming. The network is compatible with Ethereum, and it’s open. This means that it allows building new applications, as well as making transactions to other blockchains with smart contracts.

Ravencoin (RVN)

Ravencoin is an open-source project, designed as a fork of the original Bitcoin code. The native token of the Ravencoin platform is called RVN, and it’s sometimes referred to as Bitcoin 3.0. One way in which traders choose a crypto coin in which they want to invest is by learning about the ideals it represents. At the heart of the RVN core values stands the belief that people should be above governments and corporations. The ideals they represent include liberty, anonymity, and healthy free markets.

Unlike mining Bitcoin, which requires expensive equipment and guarantees huge electricity bills, RVN can be mined with USUs. It has a special mining algorithm, which ensures that it can’t be mined with hardware like ASICs. RVN can be used for different purposes. It can represent different types of assets, including shares and virtual goods.

Final Words

These four cryptocurrencies are among the most interesting Bitcoin alternatives at the moment. However, before investing you should investigate more, and learn about the current situation. Also, it’s important to note that investing in any cryptocurrency, even the most popular ones, can be a big risk. Cryptocurrencies are volatile, and although experienced traders and experts can make predictions based on past behaviours, it’s quite hard, if not impossible, to know for sure what will happen. This is why you should always invest cautiously, and don’t spend more money than you can afford to lose.

Bitcoin Hits New Record High, Falling Short of $8000

Bitcoin has picked up right where it left off, capping a resurgent week by climbing within a few dollars short of a record $8000 just days after a plunge of as much as 29 percent from the previous high tested the confidence of advocates of the cryptocurrency.

Bitcoin has gained 17 per cent this week, touching a high of $7997.17 during Asia hours before moving lower in late trading. The rally came after bitcoin wiped out as much as $38bn in market capitalisation following the cancellation of a technology upgrade known as SegWit2x on 8 November.

While multiple reasons have been cited for the price volatility, one of the more viable is that some investors were switching to alternative coins. Bitcoin cash, an offshoot of bitcoin that includes many of the technical upgrades being debated by developers, had more than doubled in the same period.

“My sense is that today’s rally is driven by a resurgence in interest and viability for the SegWit2x hard fork,” Spencer Bogart, head of research at Blockchain Capital, said in an email. “Despite the fact that it was called off, there is still some group of people that will follow through with the intended fork. As a result, I believe some capital is rotating out of other crypto-assets and into bitcoin to make sure they receive coins on both sides of the fork.”

The main difference between bitcoin and bitcoin cash is the block size — the fundamental units that make up the blockchain at the heart of the cryptocurrency. Bitcoin cash offers a larger block that holds more data, meaning faster and cheaper transactions according to supporters of the new rival.

Those supporters view the size increase as the update bitcoin needed to become a better means of exchange to compete with payment services such as Visa or Master Card. Bitcoin handles about seven transactions a second, compared with around 2000 for Visa.

“I look at it as similar to software where there can be multiple versions,” said Mike Kayamori, chief executive of Quoine, in an interview with Bloomberg TV. “That said, having too many will confuse the general public so it’s not a good thing if there’s too many.”

Kayamori said he could see a time when legacy bitcoin is treated more as a pure currency while bitcoin cash, with its higher block size, could be more useful for commercial operations.

This year’s surge comes as the digital currency starts to gain mainstream acceptance as a financial instrument after CME, the world’s biggest exchange, said it would start bitcoin futures next month. Swiss structured products houses Vontobel and Leonteq Securities AGwill said Thursday they’ll offer separate products that will allow investors to profit if the price of bitcoin tumbles.