Bitcoin is a numbers game through and through. There are only 21 million BTC. The code and its consensus algorithm are both made up of complex math. The total coins are slashed in half every four years, and so on and so fourth.
Most important of all, here’s the growth rate Bitcoin price must hit steadily to reach $100K per BTC by July 2021 according to one crypto capital manager – as well as the one thing that could get in the way.
Bitcoin Price Growth Rate Should Take Crypto Valuation To $100K By July
Bitcoin’s growth from virtually worthless to more than $60,000 per » Read more
” href=”https://www.newsbtc.com/dictionary/coin/” data-wpel-link=”internal”>coin came to be reads as if it was ripped from a sci-fi film: Mysterious person takes a shot at all money, and takes no credit for the monumental effort.
” href=”https://www.newsbtc.com/dictionary/satoshi/” data-wpel-link=”internal”>Satoshi’s creation is now more than a decade old and has grown far beyond most people’s expectations. Over the last year alone, the leading cryptocurrency by market cap has grown at a daily average rate of 0.65% since April, resulting in a nearly a ten times climb in value.
At the current pace, according to crypto capital manager Timothy Peterson, Bitcoin price would reach $100K by June 30th.
At only a daily growth rate of 0.64% the top crypto should hit $100K by July | Source: BTCUSD on TradingView.com
The One Factor That Could Cause BTC To Fall Short Of Target
Bitcoin price must maintain comparable momentum over the last year to keep climbing at a similar rate and reach more than $100K per » Read more
” href=”https://www.newsbtc.com/dictionary/coin/” data-wpel-link=”internal”>coin. The number is now closer to the current price action than $10K is, and thus potentially more achievable.
Price predictions for the next cycle top reach as much as $400K, with estimates more steeped in reality ranging from $125,000 to $325,000 per BTC.
The rally could really be over if the historically accurate signal is right again | Source: BTCUSD on TradingView.com
There’s a chance, however, the cycle top is in, according to the Pi Cycle Top Indicator. If the historically accurate tool is right yet again, the leading cryptocurrency’s daily growth rate will begin to decline from here on out until another bull market breaks out.
Bitcoin price wouldn’t make it to $100K by July, and a return to prices much lower would follow. If that’s the case, crypto investors would have to wait a while longer for the number one cryptocurrency by market cap to reach that ultimate target.
Featured image from Deposit Photos, Charts from TradingView.com
Elon Musk’s SpaceX to Accept Dogecoin (DOGE) Payments for Space Missions
After Tesla’s moe of accepting Bitcoin (BTC) payments, Elon Musk’s space exploration SpaceX announced that it is will accepting Dogecoin (DOGE) payments for its pace missions. This comes just a day after Elon Musk called Dogecoin a “hustle” triggering a 30% price crash over the weekend.
Is Musk trying to do damage control here? Maybe or maybe not! Whatever it is, this news is pretty exciting for all DOGE investors in the market. The announcement for “the DOGE-1 Mission to the Moon” was made by the Geometric Energy Corporation (GEC).
The mission involves flying a 40KG cube satellite of the Falcon 9 rocket that will carry “lunar-spatial intelligence and computational systems” on board. The mission launch is scheduled for Q1 of 2022 and so SpaceX also plans to start accepting DOGE payment during the same period. Here’s what Elon Musk tweeted upon launching Dogecoin to the moon.
SpaceX launching satellite Doge-1 to the moon next year
– Mission paid for in Doge
– 1st crypto in space
– 1st meme in space
To the mooooonnn!!https://t.co/xXfjGZVeUW
— Elon Musk (@elonmusk) May 9, 2021
Although GEC announced the DOGE-funded mission, it has not exactly said how much that would cost. Speaking about this new synergy between crypto and space missions, SpaceX Vice President of Commercial Sales Tom Ochinero said:
“This mission will demonstrate the application of cryptocurrency beyond Earth orbit and set the foundation for interplanetary commerce. We’re excited to launch DOGE-1 to the Moon!”
Solidifying DOGE’s Market Position
Well, last week, Elon Musk’s SNL tweet drove DOGE price to an all-time high of $0.71 with its market cap reaching $94 billion. Just before the SNL event over the weekend, Elon Musk had warned about the higher valuations. As it happened, during Musk’s SNL show appearance, the DOGE price crashed as much as 30% over the weekend, after Musk referred to it as the “hustle”.
Even at price time, DOGE continues to trade 16% down at a price of $0.54 and a market cap of $70 billion. It is still trading 10% positive on the weekly chart. Also, the recent SpaceX announcement seems to have little impact in turning the tide for Dogecoin.
One thing is sure that such announcements will certainly solidify DOGE’s market position and acceptance. With the recent announcement, Geometric Energy’s Chief Executive Officer Samuel Reid said:
“Having officially transacted with DOGE for a deal of this magnitude, Geometric Energy Corporation and SpaceX have solidified DOGE as a unit of account for lunar business in the space sector”.
The Transfer Token’s (TTT) Migrating to a DeFi Token Protocol
[PRESS RELEASE – Please Read Disclaimer]
Atom Solutions Co., Ltd. (hereinafter referred to as Atom Solutions), developers of the cryptocurrency trading and overseas remittance platform “Eternal Wallet”, has announced that its in-house developed token, The Transfer Token, will migrate to a DeFi token protocol.
The Transfer Token (hereinafter referred to as TTT) is a token issued by Atom Solutions. The most exceptional feature is that by holding and lending TTT on our platform “Eternal Wallet”, developed alongside TTT, users are eligible for gaining dividends distribution.
Regarding the dividend distribution within the wallet, during an open beta test conducted from January through February, Atom Solutions recorded the below values:
・In the case of holding TTT within Eternal Wallet: 98% yearly
・In the case of lending out TTT into The Pool within Eternal Wallet: 218% yearly
The migration of TTT to a DeFi token protocol was largely born out of feedback gathered from the beta test.
This is essential in strengthening security, and preventing misconduct and data manipulation by specific operators and/or third-party attackers. By migrating the core of Eternal Wallet, the element that covers “The world’s highest received amount when remitting overseas”, to blockchain, Atom Solutions aims to provide a system with high transparency.
DeFi (Decentralized Finance) refers to the various financial services that can be provided upon the blockchain through utilizing smart contracts.
The financial services offered by DeFi encompass various sectors such as loans, insurance, exchanges, hedge funds, derivatives, prediction markets, etc. Also, unlike a centralized system with an intermediary is unnecessary, it has the feature of being a swift yet secure method of making a transaction. This notable difference from traditional financial systems has made it a focal point of interest in recent years.
Moreover, with DeFi, due to being operated on the blockchain, it has the benefits of cutting costs, increased composability and accessibility, and high transparency.
Atom Solutions, from here on forward, by further increasing the presence of TTT within the DeFi ecosystem, aims to further expand on the convenience and profitability of the services’ users.
In addition, in conjunction with this, the company has also updated the Whitepaper regarding TTT. Click here for more information.
About Atom Solutions
Atom Solutions is a Japanese FinTech corporation with 10 years of experience and achievements since its conception. In addition to abundant expertise in financial and technology sectors, we have filed for and obtained several patents related to our lending and Pool functions and much more. Armed with these we aim to realize “The world’s highest received amount upon overseas remittance”.
In our sights is not only Japan, not only Asia, but all countries across the globe. In the near future we aim to expand the number of countries where our services can be used worldwide and intend to deliver the best possible service to our users.
Location: 5F Sei Bi Do Bldg, 2-31-16 Eitai Kouto-Ku, Tokyo
Kraken Daily Market Report for May 09 2021
- Total spot trading volume at $3.39 billion, 25% higher than the 30-day average of $2.71 billion.
- Total futures notional at $921.3 million.
- The top five traded coins were, respectively, Dogecoin (-11%), Bitcoin (-1.1%), Ethereum (+0.3%), Tether (-0.05%), and Cardano (+9,0%).
- Great returns from Litecoin (+12%) and Cardano (+9.0%).
|May 09, 2021
$3.39B traded across all markets today
Crypto, EUR, USD, JPY, CAD, GBP, CHF, AUD
#####################. Trading Volume by Asset. ##########################################
Trading Volume by Asset
The figures below break down the trading volume of the largest, mid-size, and smallest assets. Cryptos are in purple, fiats are in blue. For each asset, the chart contains the daily trading volume in USD, and the percentage of the total trading volume. The percentages for fiats and cryptos are treated separately, so that they both add up to 100%.
Figure 1: Largest trading assets: trading volume (measured in USD) and its percentage of the total trading volume (May 09 2021)
Figure 2: Mid-size trading assets: (measured in USD) (May 09 2021)
Figure 3: Smallest trading assets: (measured in USD) (May 09 2021)
###########. Daily Returns. #################################################
Daily Returns %
Figure 7: Returns over USD and XBT. Relative volume and return size is indicated by the size of the font. (May 09 2021)
###########. Disclaimer #################################################
The values generated in this report are from public market data distributed from Kraken WebSockets api. The total volumes and returns are calculated over the reporting day using UTC time.