Real-Time Blockchain-to-Everything Platform PARSIQ (PRQ) Now Listed on OKEx
PRESS RELEASE. PARSIQ, a blockchain monitoring and workflow automation platform connecting on-chain and off-chain applications in real-time, announced that its PRQ token is now listed on OKEx with USDT base pair.
Please take note of the following go-live schedule:
- PRQ Deposit : 07:00am January 28, 2021 (UTC)
- PRQ Spot Trading : PRQ /USDT: 10:00am January 28, 2021 (UTC)
- PRQ Withdrawal : 10:00 January 29, 2021 (UTC)
PARSIQ is a blockchain monitoring and workflow automation platform that serves as a multi-level bridge between blockchains and off-chain applications. PARSIQ’s features automate the blockchain analytics and monitoring process, providing customizable workflows with real-time intelligence.
Developers and individual users can transform the blockchain data to their favorite off-chain application or web service.
Among the obvious use cases is monitoring the wallets of traders and ordinary users. Among the non-obvious are complex system integrations for financial institutions and DeFi projects that use the PARSIQ infrastructure to improve security, conduct audits, comply with regulatory requirements, AML, and expand their workflows in other ways.
The infrastructure underneath PARSIQ’s user interface is built with their proprietary programming language ParsiQL, and its users’ benefits are multiplying with each supported integration.
PRQ Token
PARSIQ Token (PRQ) is an essential piece of the PARSIQ platform that co-exists with FIAT payments for using its services. Payments within the platform that are made in PRQ tokens guarantee a discounted rate. During the first Epoch when PRQ tokens are used as payment for running Smart-Triggers users receive higher execution limits, unlock transport methods, and are able to propose features that can be added to the platform.
In October 2020, the PARSIQ team released plans for Epoch 2.0.
#1. Public Projects
With Public Projects users can subscribe to existing PARSIQ Projects that were pre-made by other users. By paying in PRQ, users that have subscribed to the Public Project will incentivize the creators to create interesting, complex, and more important – problem-solving projects.
#2. User Data and PRQ
Every single monitoring target (primitive of type address, a struct with the field of address type, table row) would require 1 PRQ to hold after the implementation. It means that if there are 1000 addresses (960 in the table as rows, 30 as primitives, 10 in the structs) then the User would need 1000 PRQ on the connected Ethereum Account balance.
#3. IQ Protocol
IQ Protocol will allow risk-free PRQ lending and collateral-less borrowing. Risk-free PRQ lending means that PRQ is not transferred from the lender’s address to the borrower’s address. Details on the algorithm are available in the dedicated explainer on PARSIQ’s blog.
#4. PRQBoost
PRQ Boost is a liquidity boost program to incentivize PRQ/ETH liquidity providers on Uniswap, which goes with the PRQBOOST utility tokens to increase rewards for liquidity providers.
PARSIQ is actively working to partner with major layer 1 blockchain protocols to expand the range of blockchain integrations and give projects that build on those protocols the ability to monitor and automate workflows between blockchain and off-chain.
Visit the PARSIQ website to discover some possible use-cases and find more details on the project and token: https://parsiq.net
Media contact: [email protected]
This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.
- Published in Uncategorized
Dogecoin Price Skyrockets 325%, Crypto Fueled by Elon Tweets and Redditors
The infamous meme token dogecoin has been skyrocketing in value rising more than 325.21% during the last 24 hours. After remaining below a U.S. cent for years, the humorous crypto asset is now exchanging hands for $0.05 per unit. The reason behind the big dogecoin price spike is similar to the recent Gamestop/Wallstreetbets story as a Reddit group called Satoshistreetbets has been behind the recent pump.
In April 2019, the Tesla founder Elon Musk said dogecoin (DOGE) was his “fav cryptocurrency.” In June 2020, day traders from Tiktok decided to encourage people to buy dogecoin in order to get the price per unit up to a dollar. The dollar price per DOGE never came to fruition, but the crypto asset saw some significant gains from the pump. Then during the first week of January 2021, news.Bitcoin.com reported on dogecoin gathering well over 500% gains during the year.
Now the K-9 crypto asset is making headlines again as the price has been surging during the last 24 hours. DOGE is currently swapping for 5 U.S. cents after trading below a penny for quite some time. The digital asset has a whopping $4.83 billion in global trade volume today and the asset is well above the all-time high (ATH) it captured in 2017.
Weekly stats show dogecoin is up over 585% and during the last 30 days DOGE is up over 1,150%. Against bitcoin (BTC), dogecoin has gained a colossal 871% against the leading crypto asset. Moreover, during the last 12 months, dogecoin has jumped in value by over 2,270%.
Okay I caved and bought the dog stocks lmaoooooo
— Mia K. (@miakhalifa) January 29, 2021
Rumor has it the dogecoin (DOGE) pump was started by the Redditors from r/satoshistreetbets who have been following the recent action spurred by the Gamestop/Wallstreetbets fiasco.
One particular thread talks about holding dogecoin in order to get the price per unit to $10. The Reddit post which is on the front page has over 11,000 upvotes has a lot of participants and people have been discussing the best exchanges to utilize.
Then on Thursday, the popular Elon Musk decided to tweet a meme of a magazine called “Dogue,” which is a play on the “Vogue” magazine title. Moreover, the Onlyfans star, Mia Khalifa, tweeted about the dogecoin madness on Twitter to her 3.4 million followers.
— Elon Musk (@elonmusk) January 28, 2021
The tweet from Musk got the dogecoin crowd excited and one individual tweeted a meme that featured Musk, a bunch of cartoon Doges, and said: “DOGE is the answer.” Dogecoin is also one of the only older coins, besides BTC and ETH, that has managed to surpass its ATH from 2017, while many other older crypto assets have yet to do so.
Dogecoin is over seven years old and was developed by Jackson Palmer and the programmer Billy Markus. The digital currency’s existence has always been to exist for fun, promote laughter, and reach a broader demographic. It has managed to do so and stay in the limelight, as the asset is now holding the 11th position among the top crypto market caps.
The cryptocurrency featuring the likeness of the Shiba Inu dog has 127.7 billion DOGE in circulation. Since the recent price spike, crypto supporters have been hunting for their old dogecoin wallets as the asset is far more valuable today.
What do you think about dogecoin’s meteoric rise during the last year and the gains seen over the last week? Let us know what you think about this subject in the comments section below.
- Published in Uncategorized
Guggenheim Investments’ Scott Minerd Says There Is Insufficient Institutional Support to Sustain BTC Prices Above $30K
As bitcoin struggles to kickstart yet another record-breaking rally, Scott Minerd, the CIO at Guggenheim Investments says this could be down to the inadequate institutional support. According to Minerd’s assessment, this lack of sufficient institutional investor support means it will be hard for bitcoin to trade above $30,000.
The CIO, however, thinks the viability of the crypto as “an asset class is still very likely.” In a short video, Minerd chronicles bitcoin’s rise and how the crypto initially did not have a large enough market capitalization to attract institutions.
However, after the crypto rose to $10,000, perceptions changed. The CIO explains:
When we had bitcoin at $10,000, it was pretty easy to see that there was a clear path to $20,000.Once it went past $20,000 you could definitely see based on technical work how you could get to $35,000 or even higher.
Minerd, who has previously predicted a maximum price of $400,000 for the BTC, says the current investor base is not big enough to support a valuation above $30,000.
Not Everyone Agrees
However, not everyone agrees that bitcoin, which grew by more than 300% in 2020, will remain stuck at current prices. Michael Geiger, the CEO at a financial brokerage firm Libertex, disagrees with Minerd’s view. Geiger explains to News.bitcoin.com that “an overextension does not mean that bitcoin would permanently stay below the figure.” The CEO adds:
Eventually, bitcoin would move above the figure even in the lower part of the logarithmic regression band, provided that the asset still holds any meaningful value.
Meanwhile, despite Minerd’s comments, bitcoin has dropped below $30,000 only twice since January 1, 2020. At the time of writing, the crypto appears to have resumed its rally after it went past $37k handle for the first time since January 20.
Do you agree with Minerd’s prediction that BTC will struggle to stay above $30,000? You can tell us what you think in the comments section below.
- Published in Uncategorized
Bitcoin Miners Strain Under Semiconductor Supply Crunch, Second-Hand Mining Rig Prices Soar
Bitcoin mining rig manufacturers are dealing with a semiconductor supply crunch according to regional reports stemming from China. There’s been a global semiconductor supply shortage and it’s affecting nearly every type of business in the supply chain that manufactures cars, PCs, laptops, smartphones, and cryptocurrency mining devices. Moreover, the recent shortage has invoked the demand for second-hand and older generation mining rigs.
Semiconductor Shortage Complicates Mining Rig Manufacturing
Currently, the world is dealing with a semiconductor supply crunch which has been spurred by the aftermath of Covid-19 and the lockdowns. Automobile makers, PC manufacturers, smartphone production, and almost every electronics manufacturer under the sun is dealing with this issue. For instance, reports detail that auto giants like Toyota Motors, Nissan, Ford, Volkswagen, and more have been chomping at the bit to obtain microchips from suppliers like TSMC. On January 27, 2021, the financial reporter from China, Iyke Aru, reported on how the microchip supply shortage is “taking a toll on Chinese bitcoin miners.”
“The unique case of mining is complicated as a result of the coincidence with the increasing demand for Bitcoins and the associated expansion of the mining industry.” Aru details. Moreover, Aru also noted that because of the shortage “Chinese cryptocurrency miners are already scrambling for second-hand machines just to keep up with industry requirements.”
Second-Hand Machines, Older Generation Rigs, and ‘Too Many People Going for the Same Foundries’
Meanwhile, manufacturers and industry executives are hoping for other solutions to appear. During the second week of January, Nvidia revealed some cheaper types of semiconductors for computers that could possibly help the supply crunch, according to reports. Patrick Moorhead, principal analyst at Moor Insights and Strategy told Marketwatch in an interview that the shortage has impeded businesses working with semiconductor foundries. “There is not enough capacity at TSMC and at Samsung,” Moorhead explained. “There are too many people going for the same foundries.”
The scramble for second hand and older generation mining rigs has not just affected China but second markets in Europe and the U.S. have seen increased prices. For example on Ebay, there are hundreds of results for pre-owned S9s and even people selling bulk packages as well. Mining rig prices can be 2x to even 10x higher than what they were before the crypto economy’s bull run. The quantity of second-hand mining machines is far larger when it comes to older generation mining rigs, as new releases are much harder to obtain. There are far fewer listings on secondary markets and direct from the manufacturer deliveries are sold out until spring 2021.
What do you think about the semiconductor shortage taking a toll on the bitcoin mining industry? Let us know what you think about this subject in the comments section below.
- Published in Uncategorized
Ripple and CEO Brad Garlinghouse Face Another Lawsuit Over XRP Crypto Being a Security
Another class-action lawsuit has been filed against Ripple Labs and CEO Brad Garlinghouse. This lawsuit follows the one filed by the U.S. Securities and Exchange Commission (SEC) alleging that the defendants sold XRP, which it considers unregistered security, for over $1.38 billion.
- The lawsuit, filed Monday in a Florida district court alleges that the “sale of XRP cryptocurrency tokens to Florida residents” violates Florida securities laws.
- The suit names Ripple Lab Inc., XRP II LLC, and Garlinghouse as the defendants. They have allegedly sold “millions of dollars (or more)” in XRP tokens since 2013 without registering either with federal or Florida authorities.
- Recently, the U.S. Securities and Exchange Commission (SEC) filed a lawsuit against Ripple Labs, Garlinghouse, and co-founder Christian Larsen alleging that they sold over 14.6 billion units of XRP for at least $1.38 billion. After the SEC’s lawsuit, several major cryptocurrency exchanges delisted XRP, including Coinbase, Binance, Okcoin, and Blockchain.com. Ripple has insisted that XRP is not a security and plans to fight the SEC charges.
- The plaintiff, Tyler Toomey, said he purchased 135 XRP on or around Nov. 24, 2020, for $97.80 and then sold the coins at a loss. The lawsuit states that the “plaintiff sustained a loss of $48.56, or just over 50% of his initial investment.)” Although the plaintiff’s own loss is small, he “seeks to represent a class defined as all persons or entities in the State of Florida who purchased XRP.”
- Toomey is seeking monetary compensation including “reasonable” attorney’s fees, expenses, and costs of the suit, on his own behalf and on behalf of other class members.
What do you think about this new lawsuit against Ripple over XRP? Let us know in the comments section below.
- Published in Uncategorized
Real-Time Blockchain-to-Everything Platform PARSIQ (PRQ) Now Listed on OKEx
PRESS RELEASE. PARSIQ, a blockchain monitoring and workflow automation platform connecting on-chain and off-chain applications in real-time, announced that its PRQ token is now listed on OKEx with USDT base pair.
Please take note of the following go-live schedule:
- PRQ Deposit : 07:00am January 28, 2021 (UTC)
- PRQ Spot Trading : PRQ /USDT: 10:00am January 28, 2021 (UTC)
- PRQ Withdrawal : 10:00 January 29, 2021 (UTC)
PARSIQ is a blockchain monitoring and workflow automation platform that serves as a multi-level bridge between blockchains and off-chain applications. PARSIQ’s features automate the blockchain analytics and monitoring process, providing customizable workflows with real-time intelligence.
Developers and individual users can transform the blockchain data to their favorite off-chain application or web service.
Among the obvious use cases is monitoring the wallets of traders and ordinary users. Among the non-obvious are complex system integrations for financial institutions and DeFi projects that use the PARSIQ infrastructure to improve security, conduct audits, comply with regulatory requirements, AML, and expand their workflows in other ways.
The infrastructure underneath PARSIQ’s user interface is built with their proprietary programming language ParsiQL, and its users’ benefits are multiplying with each supported integration.
PRQ Token
PARSIQ Token (PRQ) is an essential piece of the PARSIQ platform that co-exists with FIAT payments for using its services. Payments within the platform that are made in PRQ tokens guarantee a discounted rate. During the first Epoch when PRQ tokens are used as payment for running Smart-Triggers users receive higher execution limits, unlock transport methods, and are able to propose features that can be added to the platform.
In October 2020, the PARSIQ team released plans for Epoch 2.0.
#1. Public Projects
With Public Projects users can subscribe to existing PARSIQ Projects that were pre-made by other users. By paying in PRQ, users that have subscribed to the Public Project will incentivize the creators to create interesting, complex, and more important – problem-solving projects.
#2. User Data and PRQ
Every single monitoring target (primitive of type address, a struct with the field of address type, table row) would require 1 PRQ to hold after the implementation. It means that if there are 1000 addresses (960 in the table as rows, 30 as primitives, 10 in the structs) then the User would need 1000 PRQ on the connected Ethereum Account balance.
#3. IQ Protocol
IQ Protocol will allow risk-free PRQ lending and collateral-less borrowing. Risk-free PRQ lending means that PRQ is not transferred from the lender’s address to the borrower’s address. Details on the algorithm are available in the dedicated explainer on PARSIQ’s blog.
#4. PRQBoost
PRQ Boost is a liquidity boost program to incentivize PRQ/ETH liquidity providers on Uniswap, which goes with the PRQBOOST utility tokens to increase rewards for liquidity providers.
PARSIQ is actively working to partner with major layer 1 blockchain protocols to expand the range of blockchain integrations and give projects that build on those protocols the ability to monitor and automate workflows between blockchain and off-chain.
Visit the PARSIQ website to discover some possible use-cases and find more details on the project and token: https://parsiq.net
Media contact: [email protected]
This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.
- Published in Uncategorized
Dogecoin Price Skyrockets 325%, Crypto Fueled by Elon Tweets and Redditors
The infamous meme token dogecoin has been skyrocketing in value rising more than 325.21% during the last 24 hours. After remaining below a U.S. cent for years, the humorous crypto asset is now exchanging hands for $0.05 per unit. The reason behind the big dogecoin price spike is similar to the recent Gamestop/Wallstreetbets story as a Reddit group called Satoshistreetbets has been behind the recent pump.
In April 2019, the Tesla founder Elon Musk said dogecoin (DOGE) was his “fav cryptocurrency.” In June 2020, day traders from Tiktok decided to encourage people to buy dogecoin in order to get the price per unit up to a dollar. The dollar price per DOGE never came to fruition, but the crypto asset saw some significant gains from the pump. Then during the first week of January 2021, news.Bitcoin.com reported on dogecoin gathering well over 500% gains during the year.
Now the K-9 crypto asset is making headlines again as the price has been surging during the last 24 hours. DOGE is currently swapping for 5 U.S. cents after trading below a penny for quite some time. The digital asset has a whopping $4.83 billion in global trade volume today and the asset is well above the all-time high (ATH) it captured in 2017.
Weekly stats show dogecoin is up over 585% and during the last 30 days DOGE is up over 1,150%. Against bitcoin (BTC), dogecoin has gained a colossal 871% against the leading crypto asset. Moreover, during the last 12 months, dogecoin has jumped in value by over 2,270%.
Okay I caved and bought the dog stocks lmaoooooo
— Mia K. (@miakhalifa) January 29, 2021
Rumor has it the dogecoin (DOGE) pump was started by the Redditors from r/satoshistreetbets who have been following the recent action spurred by the Gamestop/Wallstreetbets fiasco.
One particular thread talks about holding dogecoin in order to get the price per unit to $10. The Reddit post which is on the front page has over 11,000 upvotes has a lot of participants and people have been discussing the best exchanges to utilize.
Then on Thursday, the popular Elon Musk decided to tweet a meme of a magazine called “Dogue,” which is a play on the “Vogue” magazine title. Moreover, the Onlyfans star, Mia Khalifa, tweeted about the dogecoin madness on Twitter to her 3.4 million followers.
— Elon Musk (@elonmusk) January 28, 2021
The tweet from Musk got the dogecoin crowd excited and one individual tweeted a meme that featured Musk, a bunch of cartoon Doges, and said: “DOGE is the answer.” Dogecoin is also one of the only older coins, besides BTC and ETH, that has managed to surpass its ATH from 2017, while many other older crypto assets have yet to do so.
Dogecoin is over seven years old and was developed by Jackson Palmer and the programmer Billy Markus. The digital currency’s existence has always been to exist for fun, promote laughter, and reach a broader demographic. It has managed to do so and stay in the limelight, as the asset is now holding the 11th position among the top crypto market caps.
The cryptocurrency featuring the likeness of the Shiba Inu dog has 127.7 billion DOGE in circulation. Since the recent price spike, crypto supporters have been hunting for their old dogecoin wallets as the asset is far more valuable today.
What do you think about dogecoin’s meteoric rise during the last year and the gains seen over the last week? Let us know what you think about this subject in the comments section below.
- Published in Uncategorized
Guggenheim Investments’ Scott Minerd Says There Is Insufficient Institutional Support to Sustain BTC Prices Above $30K
As bitcoin struggles to kickstart yet another record-breaking rally, Scott Minerd, the CIO at Guggenheim Investments says this could be down to the inadequate institutional support. According to Minerd’s assessment, this lack of sufficient institutional investor support means it will be hard for bitcoin to trade above $30,000.
The CIO, however, thinks the viability of the crypto as “an asset class is still very likely.” In a short video, Minerd chronicles bitcoin’s rise and how the crypto initially did not have a large enough market capitalization to attract institutions.
However, after the crypto rose to $10,000, perceptions changed. The CIO explains:
When we had bitcoin at $10,000, it was pretty easy to see that there was a clear path to $20,000.Once it went past $20,000 you could definitely see based on technical work how you could get to $35,000 or even higher.
Minerd, who has previously predicted a maximum price of $400,000 for the BTC, says the current investor base is not big enough to support a valuation above $30,000.
Not Everyone Agrees
However, not everyone agrees that bitcoin, which grew by more than 300% in 2020, will remain stuck at current prices. Michael Geiger, the CEO at a financial brokerage firm Libertex, disagrees with Minerd’s view. Geiger explains to News.bitcoin.com that “an overextension does not mean that bitcoin would permanently stay below the figure.” The CEO adds:
Eventually, bitcoin would move above the figure even in the lower part of the logarithmic regression band, provided that the asset still holds any meaningful value.
Meanwhile, despite Minerd’s comments, bitcoin has dropped below $30,000 only twice since January 1, 2020. At the time of writing, the crypto appears to have resumed its rally after it went past $37k handle for the first time since January 20.
Do you agree with Minerd’s prediction that BTC will struggle to stay above $30,000? You can tell us what you think in the comments section below.
- Published in Uncategorized
Dogecoin Price Skyrockets 325%, Crypto Fueled by Elon Tweets and Redditors
The infamous meme token dogecoin has been skyrocketing in value rising more than 325.21% during the last 24 hours. After remaining below a U.S. cent for years, the humorous crypto asset is now exchanging hands for $0.05 per unit. The reason behind the big dogecoin price spike is similar to the recent Gamestop/Wallstreetbets story as a Reddit group called Satoshistreetbets has been behind the recent pump.
In April 2019, the Tesla founder Elon Musk said dogecoin (DOGE) was his “fav cryptocurrency.” In June 2020, day traders from Tiktok decided to encourage people to buy dogecoin in order to get the price per unit up to a dollar. The dollar price per DOGE never came to fruition, but the crypto asset saw some significant gains from the pump. Then during the first week of January 2021, news.Bitcoin.com reported on dogecoin gathering well over 500% gains during the year.
Now the K-9 crypto asset is making headlines again as the price has been surging during the last 24 hours. DOGE is currently swapping for 5 U.S. cents after trading below a penny for quite some time. The digital asset has a whopping $4.83 billion in global trade volume today and the asset is well above the all-time high (ATH) it captured in 2017.
Weekly stats show dogecoin is up over 585% and during the last 30 days DOGE is up over 1,150%. Against bitcoin (BTC), dogecoin has gained a colossal 871% against the leading crypto asset. Moreover, during the last 12 months, dogecoin has jumped in value by over 2,270%.
Okay I caved and bought the dog stocks lmaoooooo
— Mia K. (@miakhalifa) January 29, 2021
Rumor has it the dogecoin (DOGE) pump was started by the Redditors from r/satoshistreetbets who have been following the recent action spurred by the Gamestop/Wallstreetbets fiasco.
One particular thread talks about holding dogecoin in order to get the price per unit to $10. The Reddit post which is on the front page has over 11,000 upvotes has a lot of participants and people have been discussing the best exchanges to utilize.
Then on Thursday, the popular Elon Musk decided to tweet a meme of a magazine called “Dogue,” which is a play on the “Vogue” magazine title. Moreover, the Onlyfans star, Mia Khalifa, tweeted about the dogecoin madness on Twitter to her 3.4 million followers.
— Elon Musk (@elonmusk) January 28, 2021
The tweet from Musk got the dogecoin crowd excited and one individual tweeted a meme that featured Musk, a bunch of cartoon Doges, and said: “DOGE is the answer.” Dogecoin is also one of the only older coins, besides BTC and ETH, that has managed to surpass its ATH from 2017, while many other older crypto assets have yet to do so.
Dogecoin is over seven years old and was developed by Jackson Palmer and the programmer Billy Markus. The digital currency’s existence has always been to exist for fun, promote laughter, and reach a broader demographic. It has managed to do so and stay in the limelight, as the asset is now holding the 11th position among the top crypto market caps.
The cryptocurrency featuring the likeness of the Shiba Inu dog has 127.7 billion DOGE in circulation. Since the recent price spike, crypto supporters have been hunting for their old dogecoin wallets as the asset is far more valuable today.
What do you think about dogecoin’s meteoric rise during the last year and the gains seen over the last week? Let us know what you think about this subject in the comments section below.
- Published in Uncategorized
Guggenheim Investments’ Scott Minerd Says There Is Insufficient Institutional Support to Sustain BTC Prices Above $30K
As bitcoin struggles to kickstart yet another record-breaking rally, Scott Minerd, the CIO at Guggenheim Investments says this could be down to the inadequate institutional support. According to Minerd’s assessment, this lack of sufficient institutional investor support means it will be hard for bitcoin to trade above $30,000.
The CIO, however, thinks the viability of the crypto as “an asset class is still very likely.” In a short video, Minerd chronicles bitcoin’s rise and how the crypto initially did not have a large enough market capitalization to attract institutions.
However, after the crypto rose to $10,000, perceptions changed. The CIO explains:
When we had bitcoin at $10,000, it was pretty easy to see that there was a clear path to $20,000.Once it went past $20,000 you could definitely see based on technical work how you could get to $35,000 or even higher.
Minerd, who has previously predicted a maximum price of $400,000 for the BTC, says the current investor base is not big enough to support a valuation above $30,000.
Not Everyone Agrees
However, not everyone agrees that bitcoin, which grew by more than 300% in 2020, will remain stuck at current prices. Michael Geiger, the CEO at a financial brokerage firm Libertex, disagrees with Minerd’s view. Geiger explains to News.bitcoin.com that “an overextension does not mean that bitcoin would permanently stay below the figure.” The CEO adds:
Eventually, bitcoin would move above the figure even in the lower part of the logarithmic regression band, provided that the asset still holds any meaningful value.
Meanwhile, despite Minerd’s comments, bitcoin has dropped below $30,000 only twice since January 1, 2020. At the time of writing, the crypto appears to have resumed its rally after it went past $37k handle for the first time since January 20.
Do you agree with Minerd’s prediction that BTC will struggle to stay above $30,000? You can tell us what you think in the comments section below.
- Published in Uncategorized