People thought John McAfee was completely insane earlier this year when he made his $500,000 price prediction. The entrepreneur has made no secret of his bullishness for Bitcoin over the years. However, in September, he boldly Tweeted out a price call that seemed straight out of a Lambo-fetishistic Facebook crypto group. Always eccentric, the cyber … Continue reading John McAfee Ups His 2020 Prediction to $1,000,000/BTC
To say that it has been a wild day in the bitcoin price space would be an understatement. Overnight last night, we saw bitcoin break through the $10,000 mark and, in doing so, we saw it bring down a long-term upside target and one that many have suggested in the past that bitcoin would never … Continue reading Bitcoin Price Watch; Here’s Where To Look Next
A rising tide floats all boats and a rising bitcoin inflates all domains. Stocks in graphics card manufacturers and crypto mining companies aren’t the only beneficiaries of the bitcoin bounce: BTC-themed web domains are also hot commodities. Sellers are asking hundreds of thousands of dollars for prime bitcoin domains, with some even priced into the millions.
The bitcoin brand has soared in tandem with its market cap, with enterprising vendors cashing in on the cryptocurrency craze. Purveyors of a memorable bitcoin domain will need to dig deep though to claim a desirable URL. While the best bitcoin domains have already been snapped up (you’re looking at one of them), bitcoin.tv is still available for $350,000. Just two weeks ago, it was priced at $275,000, proving that bitcoin’s upward trajectory really does drag everything heavenward with it.
Domain provider Uniregister has a host of bitcoin-based titles available to monied buyers seeking to splash the cash and declare their intent. For aspiring buyers who can’t quite stretch to bitcoin.tv’s $350k price tag, bitcoin.car can be bought for just $2,888.
Did Someone Say Blockchain?
Blockchain has become one of this year’s buzzwords for better or worse. It should come as no surprise therefore that blockchain-based names are also attracting a high premium. Anyone considering forking out the $2.75 million required to obtain blockchain.us had better have a killer app utilizing bitcoin’s underlying ledger if they’re to recoup their investment.
Disciples of the enigmatic Satoshi Nakamoto, meanwhile, may be tempted to hand over the $8,500 it will take to secure satoshitobitcoin.com. It’s just a shame the URL reads so unfortunately.
Bitcoins Are Scarce, Bitcoin Domains Likewise
Just because a domain is advertised for an exorbitant price doesn’t mean there are going to be any takers. It’s hard to imagine anyone coughing up the $1.5 million required for such dot-coms as cryptocurrencyoffers, cryptocurrencyhacked, or cryptocurrencyvillas.
Bitcoin might command the highest cryptocurrency market cap, but when it comes to domains, it’s the second most valuable coin – ethereum – that is dominating the domain game. Anyone wishing to host their WordPress blog on ethereum.com will need to pay a cool $10 million. While that particular URL has yet to be snapped up, eth.com went for a reported $2 million back in October.
Bitcoin.casino, on the other hand, was sold for a bargain $28,000 in March. Had the seller only hodled, there’s a good chance they could now have flipped that domain for several times its original price. Bitcoin’s still got a long way to go before growing demand causes domains to reach record levels. The highest price ever paid for a web domain was $90 million for Lasvegas.com.
Do you think premium bitcoin domains are overpriced? Let us know in the comments section below.
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Bitcoin steamed past the huge psychological barrier of $10,000 yesterday. Since then, it’s shown little sign of letting up. Less than 24 hours since it reached five-figures for the first time, the world’s most popular cryptocurrency continued on its rise topping out at around $11,500 on Wednesday afternoon. It has since retraced somewhat to around $11,000 at the time of writing. Of course, it wasn’t long before representatives of central banks passed comment on the historic moment of BTC reaching five-figures.
The rise of Bitcoin throughout 2017 has been spectacular. Since January, the digital currency has delighted investors with its incredible 11x gains. In fact, without including other cryptocurrencies, Bitcoin is without doubt the hottest investment of the last twelve months. If the current trend is anything to go by, it’ll likely go down as the biggest money spinner of the entire decade too.
Whilst the story told by the market is clearly one of immense optimism, not everyone is quite so positive. Neil Wilson, the senior market analyst at ETX Capital referred to “the madness of crowds” when referencing the dramatic rise. He went on to tell the Guardian:
[Bitcoin’s] up more than 14% today alone and the year-to-date chart is simply staggering. There are no fundamentals or technicals that explain this other than it being a massive speculative bubble.
Meanwhile, deputy governor of the Bank of England, Sir Jon Cunliffe, told BBC Radio 5 Live that he didn’t think of Bitcoin as a currency at all. Curiously, he based this on a lack of a central bank backing it up. He prefers to term Bitcoin a commodity. However, it’s classified, the central banker went on to say that the market capitalisation of it wasn’t sufficiently large enough to pose a risk to the global economy should it burst. Unfortunately, he didn’t comment on how much a risk cryptocurrencies in general pose those who control the global economy, however.
Meanwhile, William Dudley of the Federal Reserve echoed Cunliffe’s sentiment. He advised caution because “it’s not a stable store of value” – quite rich coming from the president and chief executive of a central bank that outright refuses to be audited.
Some commentators had a less dismissive outlook for Bitcoin, however. Dennis de Jong of the online currency brokerage UFX suggested an even higher short term price of $15,000, and even hinted at greater stability in the future:
“Until bitcoin becomes a commonly used payment source, it’s very possible that it could hit $15,000 and beyond based on its current desirability… If bitcoin falls into wider circulation, and becomes accepted into more conventional funds and exchanges, we are likely to see a normalisation of its value.”
Bitcoin steamed past the huge psychological barrier of $10,000 yesterday. Since then, it’s shown little sign of letting up. Less than 24 hours since it reached five-figures for the first time, the world’s most popular cryptocurrency continued on its rise topping out at around $11,500 on Wednesday afternoon. It has since retraced somewhat to around … Continue reading Bitcoin Flies to $11,000: Central Banks Warn of a Bubble
We have never seen so many optimistic Bitcoin price predictions than during the past few months. It seems everyone is very bullish on Bitcoin right now, and Michael Novogratz has made one of the bolder statements in this regard. In his opinion, there is no reason why the Bitcoin price couldn’t surpass US$40,000 by the end of 2018. That is a pretty optimistic forecast, as it would represent a 300% increase from today’s price. Whether that is achievable or not remains to be determined. Michael Novogratz is Uber-Bullish on Bitcoin It is still rather remarkable that a lot of former financial experts have suddenly turned to
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The price of bitcoin continues to rise after our previous price report yesterday afternoon. At the time bitcoin’s price smashed through the $10,000 region across global exchanges. The BTC rocket ship’s engines kept on going reaching an all-time high of $11,395 during the early morning hours of November 29.
Bitcoin’s price upwards has been an intense ride as the currency has gained $2000+ in value over the past two days. At the moment one bitcoin has a weighted price average of around $11,100-11,200 on exchanges. Bitcoin trade volume over the past 12-hours has doubled reaching a feverish volume of $9.2Bn. The Japanese yen is taking its share, with 64 percent of the global trade volume. Meanwhile, the USD, EUR, and KRW have a vast majority of the rest of the trade volume pie as every other currency has less than 1 percent of the market share. Bitfinex is the top exchange on November 29 followed by Bithumb, GDAX, Bittrex, and Bitflyer.
Looking at the charts show during the November 28 overnight, bitcoin’s price reached $10,650 and subsequently had a flash drop to $9,940. Bullish pressure regained strength immediately after jumping back to the $10,800 region. Looking at the Simple Moving Averages today both the short term 100 and long-term 200 SMA still have a wide gap, but it seems like they may converge in the near future. The move towards these two trend lines crossing paths indicates a correction is likely in the cards. The Relative Strength Index and Stochastic oscillators also reveal a similar story as these two indicators reveal oversold conditions. If we see a pullback look for some strong foundations between $10,200-10,400. However, in the short term, breaking resistance above the $11,500 region is not too far off from sight. Order books show bulls have been cutting through sell walls like butter all night and they haven’t let up yet. Bullish sentiment may see resistance stops at $11,600-11,800.
Digital Asset Markets In General
Cryptocurrency markets, in general, are doing quite well with a market capitalization of roughly $341Bn. The 24-hour volume between bitcoin and the 1325 other cryptocurrencies has reached an all-time high at over $20Bn. Among all the digital assets bitcoin is commanding about 54 percent of the total cryptocurrency market capitalization worldwide. The top ten digital assets are currently all in green seeing percentage increases across the boards. Ethereum is up 8.7 percent at $513 per token. Bitcoin cash (BCH) is doing well on November 29 as markets are up 2 percent leading to BCH prices around $1610. Ripple (XRP) is up 6 percent at 28 cents per token and Bitcoin Gold (BTG) is up 1.2 percent at $345 per BTG. Lastly, litecoin (LTC) has reached a global average of $105 per LTC as its markets are up 11 percent. Notable mentions this week include the top ten newcomer Cardano (ADA) which increased 150 percent in the past 24-hours.
The Verdict: One Giant Price Meme
Community sentiment across forums and social media show cryptocurrency enthusiasts are elated seeing the price spikes. Market optimism seems decent as well but traders are now talking about the next “big correction” and that markets are “due for a dip.” Right now the price has been a focal point over the past three days as the web has been littered with a thousand price memes. Alongside this, proponents are wondering what will happen to the price when Cboe and CME’s bitcoin-based futures markets arrive as well. Some believe the thrilling 2017 rollercoaster ride is not quite over yet.
Bear Scenario: At the current vantage point many traders believe a correction is due, and that it’s just a matter of when and to what degree. There is some decent support around the $10,200-10,400, but they may not last if sell pressure picks up.
Bull Scenario: Bulls are trying to consolidate above the $11K zone and with the amount of buy pressure we see right now it just might stay above this zone for a little while. Key resistance to watch is $11,550-$11,800
Where do you see the price of bitcoin heading from here? Let us know in the comments below.
Disclaimer: Bitcoin price articles and markets updates are intended for informational purposes only and should not to be considered as trading advice. Neither Bitcoin.com nor the author is responsible for any losses or gains, as the ultimate decision to conduct a trade is made by the reader. Always remember that only those in possession of the private keys are in control of the “money.”
Images via Pixabay, Bitstamp, Phneep, Bitcoin Wisdom, and Coinmarketcap.com
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