Billionaire Elon Musk still provers to be a major figure to watch in the crypto space arguably in the face of Bitcoins current bull run.
Today’s report will delve into BTC’s current bull run in light of the up and coming halving, while we also take a look at whether Elon Musk’s latest Tweet has anything to BTC’s positive movement. In other news, Japan’s SBI Holdings, an entity closely connected with Ripple via the new Money Tap app, gives the crypto trade a boost, and we cover Xuperchain by Baidu – China’s Google on the World Wide Web. Lastly, we revisit the NBA player with more news on how players in one team have joined millions by jumping on the Ethereum bandwagon.
See all the stories for today below:
For some, they are saying ‘we have seen’ it all before as BTC closes in on the $9,000 mark as its early January rise shows no sign of holding up. Imagine what could be if regulations were not holding back its price valuation as reported here. Well, none of that seems to matter right now because the world’s most mature crypto looks to be on an unstoppable run and this really could be the moment BTC rises to $20,000.
Resistance may usually be reported within the $100 to $200 mark, but today it would not be wrong to say that if BTC does, in fact, reach $20,000 and then performs like it did last year, then resistance for the next 12 months may be between the $15,000 and $25,000 mark. This is, of course, wishful thinking with a massive touch of ‘I hope I am right’, but if I am, then remember you heard it here first. Of course, if I am wrong, then please enjoy my ‘glass half full’ outlook to BTC.
At the end of December BTC reported a yearly increase of 94.44%. Should the same increases occur this year, then seeing out 2020 could mean we move into 2021 close to that $100,000 mark and a step nearer the $500,000 to $1 million marks for BTC predicted by the likes of Bobby Lee, co-founder of the Chinese crypto exchange BTCC and John MacAfee.
From $7,183 (1 January) to $8,853 (17 January) BTC has recorded a record January rise of $1,670 (+23.25%). Some are saying that the up and coming halving price could already be factored in, but that is highly unlikely. However, if you do have your eye on investing in view of a possible rise after the halving takes place, then check out this price chart Tweeted by one keen Twitter BTC investor.
Throwback to bitcoin 4 months before the 2nd halving.— Crypto₿ull (@CryptoBull) January 16, 2020
The price was declining after going up 200% from the bottom.
People were saying the halving was priced in.
Here is what happened the following months. pic.twitter.com/sP1B5G1qQe
Elon Musk is pretty famous for his tweets, and this week he attracted quite a bit of attention by stating the following tweet: ‘Bitcoin is ‘not’ my safe word’. This tweet garnered more than 100,000 likes; although it’s pretty safe to assume that at least half of his followers are on the band-wagon purely for the ‘memes’.
Bitcoin is *not* my safe word— Elon Musk (@elonmusk) January 10, 2020
Like most of Elon’s tweets, it’s pretty hard to understand what he actually meant with this. In the past, he had regarded the Bitcoin industry as a joke; so, it’s pretty safe to assume that it isn’t any different this time around. Some of his most popular stunts in the cryptocurrency world where the April Fool’s ‘Dogecoin executive joke’; he randomly posted a single word ‘Ethereum’ on Tweeter once; now we have the Bitcoin stunt.
Bloomberg reported on the 7th of January that SBI Holdings - which is a Japan-based financial-service company - just like GMO Internet, an Internet provider who has been performing crypto-currency mining operations for a while now - have concluded a special agreement with the NBA subsidiary - the Whinstone Inc.
Basically, this agreement will supposedly allow SBI Holdings and GMO Internet to utilize Whinstone’s facilities located in texas to crypto-mine Bitcoin (supposedly other crypto-currencies might be mined as well). Northern Bitcoin, a company of which Whinstone is a subsidiary of, reported that Rockdale facilities will be optimized to mine a gigawatt before the end of the year.
.@Bloomberg reports "World's Largest Bitcoin Mine Said to Land SBI, GMO as Customers" (https://t.co/OKBeKhQiX8)— Mark Phillips (@Mark_Phillips) January 8, 2020
Why would SBI Holdings lease capacity in a Texas facility with "initial capacity of 300 megawatts when it starts operating and reach 1 gigawatt by year end"?#XRP
Just a couple of weeks ago Baidu - A Chinese Internet giant commonly referred to as ‘China’s Google’ - teased their most recent project called the ‘Xuperchain’. Essentially, the Xuperchain should be a special blockchain business system and is currently entering the beta testing stage.
The new website was already translated and this beta network will presumably allow its users (main ‘targets’ are small business owners) to build their own blockchain applications and deploy them in their business, significantly boosting their overall performance.
The CME launch is scheduled for the 13th of January. Analysts indicate that this Bitcoin feature will drastically boost the institutions’ ability to leverage risk while investing in the cryptocurrency market. Even though it is still quite unclear on how much of an impact this launch will have on the market, the traders have their hopes up.
An announcement was made that NBA professional Stephen Dinwiddle will launch a special Ethereum-based bond which will supposedly represent himself. This announcement was discovered on Twitter, where Dinwiddle posted on the 10th of January that ‘The Spencer Dinwiddle Ethereum bond will launch on the 13th of January’. The tweet continues with ‘I’ll also be taking eight fans to the ASW with me’.
The bond is going to be issued on Ethereum’s blockchain; Carlos Domingo - Dinwiddle’s chief executive also reported that it is going to be managed and handled by a specialized digital-transfer agent.
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