Bitcoin To Reach $740K USD According To Crypto Mining Founder
The co-founder of Poolin, Zhu Fa has expressed optimism that bitcoin will reach the value of 5 million Chinese Yuan or around $738,000 USD.
This was reported by an online crypto news outlet last February 11, 2019.
According to Zhu, the next Bull Run could result to 10-20 times higher than previous ones but will not always exist and the next Bull Run might be the last one.
This follows the predictions of other cryptocurrency bulls that predict that bitcoin will soon recover surpassing it other all-time-high when the next Bull Run occurs.
The mining pool of Zhu accounts to 10.45 percent of global network share.
Currently the prevailing bearish sentiments in the market have been harsh to mining companies with some cutting down in operation and other closing down shop.
Some companies in China have begun selling their mining equipment by the kilo to help defray losses incurred during what many describe as the crypto winter that started early in 2018 and has not stopped ever since it started.
Post Office In Liechtenstein Sells Cryptos
The small European country of Liechtenstein have enabled its official post office to sell cryptocurrencies.
The blockchain company is Vardex Suisse, a regulated payment service provider that is headquartered in Switzerland.
The service was launched last February 15, 2019 in the capital of the country, Vaduz, at the Lienchtenteinische Post AG.
According to the representatives of the Vardex Suisse, this is not really nothing new from the conventional money-exchange business which has always been a part of Swiss Post’s service offering.
Customers will be able to exchange fiat money into other cryptocurrencies.
It must be noted that this small country is one of the most cryptocurrency friendly nations in the world.
Back in June 2018 it has introduced the Blockchain Act, which has the main aim of transforming the city state into a blockchain hub in the continent and beyond.
Bitcoin Will Be Integrated to Rakuten Pay In March
Rakuten is best known for its online store but not known to many is the fact that it is a traditional finance company as well.
This is demonstrated in its payment solutions app Rakuten Pay that offered the same level of financial services of more traditional payment companies.
While it is not yet clear what type of functionality it plans to offer, many will not be surprised if the company provides buying and selling cryptocurrency functionality within its platform.
It can be remembered that back in the third quarter of 2018 the company has acquired a domestic cryptocurrency exchange known is Minna no Bitcoin. The platform offers a convenient way to buy, sell and trade Bitcon in Japan.
It would be logical to think that the core exchange functionality of the company will be integrated into Rakuten Pay. With this new functionality under the hood of Rakuten Pay app it would increase its competitiveness in the highly competitive digital payments sectors.
Credit Card Companies Plan On Increasing Transaction Fees
According to reports, credit card companies are planning to increase transaction fees for US merchants.
The new rates will apply this coming April 2019 and many believe this will worsen the already fragile relationship of payment providers and merchants that use their services.
It has been revealed by undisclosed sources that there will be a double whammy effect to customers as the fees that merchants pay their banks when accepting card payments will increase the fees that the banks pay to Visa and Mastercard for processing payment will also increase.
Of course we all know who will shoulder these additional charges as banks will pass on the additional financial burden to merchants and merchants will surely pass it on to its customers.
The additional cost according to the credit card companies will be used to enhance security measures to prevent fraud and theft.
Some have argued that these fees are in preparation for the lost of a legal battle Visa and Mastercard lost amounting to $6.2 billion for US anti-trust case.
While others others are saying that this might be a way to offset the reduced profits due to litigation and other expenses.
Brian Kelly Thinks Bitcoin is Still 50% Undervalued
The founder and CEO of digital currency investment firm BKCM LLC and CNBC’s prominent commentator, Brian Kelly shares his insights about what will be the future of the burgeoning asset class and reveals what he thinks the space will be in 2019.
According to Brian, there are signs everywhere that the bear market might be coming to an end.
He speculates that the bottom might not have bottom yet but we are near bottom already.
He states that he would not be surprised if we see $1,500.00.
He also believes that a Bitcoin ETF in 2019 is near impossible.
He thinks that 2020 is a more realistic estimate of when we can see a Bitcoin ETF.
He also reveals that the prevalent news of blockchain and cryptocurrency related businesses downsizing and lay off people is just part of the maturation process.
It is just unfortunate according to him that people lose their jobs just because of market circumstances.
Finally, he says that technically speaking bitcoin is still 50% undervalued.
He thinks that we may see a significant upside.
We might see several Bull Run this year similar to that we have experienced in April 2018.
He predicts that Bitcoin in the next two years could play a major role in investor portfolios and will become a more mainstream asset.
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