Bitcoins: Latest Trends and Forecasts

The bitcoin industry is still in its infancy, which means that there is a lot to look forward to in the future. In 2016, the future of the bitcoin industry is bright, and that’s not very surprising, given the fact that the price of bitcoin is quickly skyrocketing. In 2015, the price of the bitcoin soared from $230 to more than $480 from late September to early November. Those are pretty impressive numbers; and numbers like that look as if they are going to be the trend throughout 2016. And that’s very welcome news, after a rocky beginning. The sudden rice in the price of bitcoin has certainly attracted attention to this digital currency and what the future has in store for it.

In fact, the projections for the price of the 2016 bitcoin reflects a fresh understanding of this digital currency and has drawn attention to the fact that the bitcoin will certainly play an important role in the world’s financial system in the coming years.

A Risk of 50%

The prediction for the price of bitcoin has risen from $400 to $600 for the 12 month period through 2016. The reason for the rise in the price is based on Bitcoin adoption projections up to the year 2025. It’s estimated that the four main categories that impact banking – online payments, remittance, micro transactions and so-called “banking” for the unbanked – the bitcoin will enjoy a market share of 10 to 20 percent.

Currently, there is limited use of the bitcoin, which means that it only really needs a value of around $24 a day. In other words, since the value is currently at $380, the bitcoin is $356 higher than it needs to be, which is an awesome outlook.

How the Bitcoin Value Could Soar

Some experts predict that the value of the bitcoin will climb by more than $53 in 2016. In 2017, it is estimated that it will rise by $123 and in 2018, it will rise by about $269. And if these projections aren’t impressive, than hold onto your horses, because you are going to be completely astounded by the next predictions.

For 2019, it has been suggested that the Bitcoin value will rise to more than $600. In 2020, the price will rise to somewhere around $1,400 and then in 2021, the value will go up to nearly $3,000. That growth rate is expected to reach an unprecedented high in 2025, when it is estimated that the value of Bitcoin will reach approximate $17,500.

Common Ways to Trade Bitcoins

If you are intrigued by these predictions, you may be wondering how you can get involved in trading Bitcoins. In order to be successful, you need to have a very clear and well-defined trading strategy. This involves choosing a trading platform that you feel comfortable with. Once you have chosen a trading platform, you will then be able to place orders and set bid and ask prices.

Given the projections for bitcoins, not only in 2016, but over the next decade, there is the potential to make a great deal of money.


The opinions expressed in this article do not represent the views of NewsBTC or any of its team members.  NewsBTC is not responsible for the accuracy of any of the information supplied in Sponsored Stories such as this one. 

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Remember Ryan Kennedy, AKA Alex Green? He’s the former Moolah chief who got arrested in the UK last year on charges of stealing circa $1.8 million worth of bitcoin. Well, he’s back in custody on a different charge altogether. Local media in the UK, specifically the town of Bristol, reported that Kennedy has just been arrested on rape and sexual assault charges.

The Bristol Post documented a court appearance that took place on February 1, 2016, at which Kennedy was accused of fourteen total charges; among them rape, sexual activity without consent and various other sexual assault related charges.

We don’t know yet how the case will play out, and obviously are not n a position to comment on the likelihood of his guilt, but we know the charges cover the period 2007-2015, and that Kennedy has plead not guilty to all of them. We also know there are five separate women involved, each of which has accused him of rape at least once.

Information is pretty thin on the ground at the moment, but we’ll stay on top of the story and bring you any developments as they happen. As things stand, he’s in custody, and it looks as though he will stay there until litigation commences – scheduled for a May start.

For those readers not familiar with Ryan Kennedy, he is commonly referred to as the man who killed dogecoin. A few years back he started handing out large dogecoin tips to seemingly random users on Reddit, and used the reputation this errant him to raise the money to expand and maintain an exchange Kennedy was running called Moolah.

After a successful period, he set out to buy another exchange – MintPal – which was reelig from a security breach, with the (stated) goal of improving the platform’s security and expanding its userbase. He raised more money to do so, and took a 35% stake in MintPal through his company Moolah. They set about the task, but the exchange failed miserably, dogged by technical issues and shut down after a matter of days’ post-relaunch.

Then things got bad. People started reporting that they couldn’t withdraw capital, rumors spread that Kennedy (at that time he was going by the pseudonym Alex Green) was not who he said he was, and Syscoin, an altcoin organization that at one time held up to $200,000 with the exchange, started litigation for recovery.

Shortly after, Green came out as being Kennedy, shut down the exchange, declared Moolah bankrupt and – essentially – disappeared. For a while he claimed he was processing withdrawals (we’ve never seen any evidence of this so we can’t really comment on the validity of these claims), but then in February last year, and as mentioned, UK authorities arrested him on charges related to the Syscoin funds.

What will happen now is unclear. He’s been quiet on the Syscoin charges, and whether they will take a back seat as the litigation kicks off in the sexual assault charges remains to be seen. Chances are we won’t be seeing him around the crypto space for a while, however.

As ever, we’ll keep you updated as news rolls in. Stay tuned.

Bitcoin can do a world of good all over the globe, and the technology powering the network offers a ton of potential. But not everyone is looking for a solution in the financial sector or any other industry where blockchain technology might play a significant role. Furthermore, there is the topic of religion, which begs the question whether or not Bitcoin can be in conflict with one’s beliefs.  For example, is the involvement in Bitcoin halal under the laws of Islam, and is there an intrinsic value to the popular digital currency?

Also read: Bitcoin Micropayments Make A Lot of Sense For The Brave Browser

Currency And The Islam

Currency is a strange concept, as it is very hard to define what makes a particular medium of transferring value legal or not. Before money in its current form was created, people used barter to complete transactions, with the value of goods changing on a regular basis. But there is also the religious concept to take into account, as every belief has their own “standards” regarding money and currency.

Especially when it comes to exchanging one type of currency for another, things are not as clear under the laws of Islam. In the Western world, people take this type of business for granted and rarely give it a second, though. But certain religions are quite strict on currency exchange, begging the question what the stance of the Islam is.

Based on the answer provided by Islam Today, it looks like the exchange of currency is a permissible form of business. However, both parties have to receive the money for this transaction by hand, and delays are not permitted. While these rules were created for precious metals, the same principles apply to other forms of currency.

Is Bitcoin Halal or Not?

When reading that question out loud for the first time, some people might shake their heads and laugh out loud. But this topic is no matter of jokes and humour, as it is a very serious question posted on Stackexchange not that long ago. The concept of digital currency might contradict certain religions or beliefs.

One follower of the Islamic faith posted the question on Stackexchange, as there was some confusion whether or not involvement in Bitcoin could be halal. Keeping in mind how digital currency is vastly different from money owned and controlled by banks and governments, the question only seems logical, and there was no definitive answer at that time.

The best answer given on Stackexchange mentioned how Bitcoin can be seen as a medium similar to precious metals. One of the main issues people have with the concept of digital currency is how there is no physical representation of Bitcoin, albeit it can be proven to exist when needed. Not in a tangible form, but one can complete a transaction in Bitcoin and prove it has a value to other people.

However, when it comes to Bitcoin’s intrinsic value – or potential lack thereof – things are quite different. The laws of Islam require halal currency to have intrinsic value, and digital currency seems to fit that bill perfectly. Unlike fiat currency, which is represented by a paper medium susceptible to damage, loss, and theft, Bitcoin has intrinsic value as its worth can not be tampered with through duplication and other illegal means.

Expressing that intrinsic value is vastly different from how most people would look to describe Bitcoin. As most people are well aware, the modern digital currency is generated through a process called “mining”, which requires computation power in the form of proof-of-work. This is exactly what gives Bitcoin its intrinsic value under the laws of Islam, as the value is proportional to the difficulty required for mining.

Additionally, halal currency should be deflationary in nature, which leads to fluctuation in value. The Bitcoin value has gone up over the course of the past seven years, albeit there have been several stumbles along the way. Gold is halal as well, as there is a limit supply available and the prices are anything but stable. One could even go as far as saying how Bitcoin is more halal under the laws of Islam than paper currency will ever be.

Source: Stackexchange

Yet again, we’ve had a pretty eventful weekend in the bitcoin space. A host of fundamental developments towards the end of last week ended a period of relative quiet (at least from a volatility perspective) and translated to some piqued interest across the Saturday and Sunday sessions. Asian trading dominated the action, as illustrated by yuan trading volume, and the timing of the sharp moves, but as Europe took over this morning, the momentum continued, and it looks like we are going to have a busy week. It’s speculative, but it will be interesting to see if last night’s Super Bowl in the US will impact US volume today. There have been numerous occasions on which events such as this one have weighed on volume across the subsequent session in the more traditional financial asset markets, and today we get an opportunity to see whether the same phenomenon applies to digital currency. Interestingly, and as a bit of a side note, there is also another phenomenon that links the Super Bowl and the equities markets – well worth a read for those interested in that sort of thing. Anyway, getting back to bitcoin, action over the weekend reached highs of 380 flat before correcting towards373, and then once again reversing to levels just shy of these aforementioned highs. These two levels will play a part in today’s strategy, which we will get to shortly. Current price sits circa 375, which is mid range on today’s definitions. We’ve got a reasonably wide range to play with, so we’ll finally be able to bring our intrarange strategy back in to play (we’ve not been able to for the last week of so as a result of tight, coiling action) and we will take a traditional breakout approach to get in on any volatility outside of our range. So, with this said, what are we looking at from a target and risk perspective, and where are we looking to get in on any action? Take a quick look at the chart to get an idea of the key levels for today’s European and US sessions.

Screen Shot 2016-02-08 at 14.33.24

As the chart shows, the range for today is defined by the two levels we have already mentioned – in term support at 373 flat and in term resistance at 380 flat to the upside. We’re mid range at present, so let’s address the upside first.

If we get a break above in term resistance, we are going to watch for a close above this level to signal a long entry towards an upside target of 390 flat. It’s a pretty aggressive target, and gives us plenty of room for a wide stop – somewhere in the region of 376 works to keep this attractive on the risk management side of things.

Looking the other way, a close below in term support will put us short towards 365, with a stop at 375 defining our risk.

Intrarange, long at support and short at resistance, targeting the opposite boundary with a stop just the other side of the entry.

Charts courtesy of Trading View

It is no secret how monetizing content on the Internet is becoming more difficult every month. Traditional advertising models no longer seem viable, as users run ad blockers on their computers and mobile devices. The newly announced Brave browser wants to remove traditional advertisements from the equation and introduce micropayments to support content creators. Bitcoin is a perfect candidate for microtransactions, as the frictionless digital currency works on a global scale.

Also read: CryptoWoo – A Seamless and Secure Cryptocurrency Payment Solution

Brave – A Whole New Internet Experience

The number of modern Internet browsers is relatively limited, albeit there is no shortage of options. Google Chrome, Safari, Microsoft Edge and Chromium are the most common names one will encounter across the different operating systems. Keeping in mind how these browsers are available to both computer and mobile users, it only makes sense to see them grab the lion share of the browser market.

But at the same time, all of these browsers have one major issue: intrusive advertisements. Granted, there are ad blockers available to users which will hide annoying ads, but this is far from a perfect solution. After all, content creators have to make some income, and banner ads are still the preferred method of choice.

Now that ad blockers are becoming more common on mobile devices; content creators have to rethink their strategy. However, they are not the only ones trying to solve this problem, as former Mozilla CEO Brendan Eich has come up with an alternative. Instead of removing advertisements altogether, why not replace them with something else?

On paper, this sounds like an easy task, but in reality, it required Eich and his team to create a whole new browser. Brave, as this solution is called, will remove intrusive advertisements from web pages, and replace them with “clean” ads. Not only will these replacement advertisements improve the browsing experience for visitors, but it allows for content creators to monetize their sites at the same time.

In the end, the Brave users stand to gain a lot from embracing this new browser experience. Not only will they see less annoying ads without having to install an ad blocker, but the overall surfing speed will increase by quite a margin as well. That being said, the Brave browser is far from perfect, as future updates need to be made to support streaming platforms requiring Flash [although they should upgrade to HTML5].

Furthermore, not every advertisement will be removed. Social media platforms such as Facebook and Twitter will keep their ads and promoted tweets, as these are not as offensive as banners or videos. On the upside, the RAM usage in Brave seems to be half of that in Chrome, and on par with Firefox.

Micropayments To Support Content Creators

Another selling point of the Brave browser is how micropayments can be used to help content creators directly. Every Brave user will earn a small piece of commission from viewing the “clean advertisements”, which can then be spent on tips or donations towards site owners or other users.

While Brendan Eich does not feel micropayments will be a major part of the Brave experience during the early stages, there is a lot of potential in offering such a feature. Coming up with a proper payment tool for users and website owners will be a different matter, though. Bitcoin seems to be a very likely candidate, due to its low transaction fees, instant payments, and global availability.

Source: Digi Norway

Are you a gambler? Do you like placing bets on online Bitcoin casinos? If the answer is yes on both the counts, then the next question for you is about a particular Bitcoin casino out there on the internet. Have you ever heard of or used mBit Casino?

If you have used the platform recently or if you are a regular user, then don’t bother reading any further as you already know enough about the platform. Whereas for others, mBit Casino is an online bitcoin casino platform that offers a wide choice of Bitcoin based games. These games include regular Bitcoin casino games along with sports bets, live dealer and other live games. Signing up on mBit Casino is a walk in the park. Further sweetening the deal is the 110% deposit bonus for newbies on their first deposit.

It has a lot of features worth explaining everyone about, but what stands out is the exclusive elite club for high rollers on the platform. Entry to this platform is invite only and the only way to lay hands on this invite is by being a high roller, betting high and winning more. The VIP program is part of the casino’s loyalty program with lots of exciting rewards. Users on mBit Casino are assigned reward points for every transaction they make and as the number of points accumulate, one can expect an invite from mBit Casino’s VIP hostesses to join the VIP program.

What do you get as a VIP member?

For starters, VIP member of mBit Casino receive priority treatment compared to others. The platform has special loyalty points program for the VIPs as well, helping them continue growing up the ladder, The VIP members will also have other uses for their loyalty member points. The loyalty points can be redeemed by VIP players at the platform’s VIP store for some great stuff, wait! that is not the end of it, there is a VIP lottery as well. The VIP lottery pool includes the most recent VIP members along with others VIP members every month.

If you are still thinking about what you can buy at the mBit Casino stores, then here is a sneak peek into some of the products made available at these stores. MBit Casino store has a great collection of gadgets and tech accessories along with some good liquor worth redeeming the points for.

mBit Casino has been around since 2014 operating under the license issued by the Government of Curacao, offering over 200 games provided by Play’n GO, BetSoft, Gameart among others. Living up to its name, mBit Casino allows transactions only in Bitcoin. The game offering, customer service and rewards programs makes mBit Casino one of the most recommended online Bitcoin Casinos at the moment. What are you waiting for? Go ahead, start using mBit Casino, you can thank me later.

The opinions expressed in this article do not represent the views of NewsBTC or any of its team members.  NewsBTC is not responsible for the accuracy of any of the information supplied in Sponsored Stories such as this one. 

Bitcoin Price Key Highlights

  • Bitcoin price has been consolidating on the 4-hour time frame, moving inside a symmetrical triangle pattern with its higher lows and lower highs.
  • Bitcoin is coming off a strong downtrend, indicating that there may be some downside momentum left once bears are finished taking a break.
  • Price is testing the bottom of the triangle consolidation pattern right now so a quick bounce to the top might be possible.

Bitcoin price could test the top of the triangle, which might hold as resistance since it coincides with the 100 SMA and is coming off a strong downtrend.

Technical Indicators Signals

The 100 SMA is below the longer-term 200 SMA so the path of least resistance is to the downside. This suggests that the $390-400 area might keep gains in check, pushing bitcoin price back to the bottom of the triangle at $370-375.

Stochastic is on its way up, after just making it out of the oversold region. This indicates that bullish pressure is present and that buyers could attempt to push past the triangle resistance. If so, price could test the 200 SMA dynamic inflection point at $410 next.

RSI is on the move down but appears to be treading sideways at the moment. This could reflect indecision for both buyers and sellers, as traders wait for more market clues.

bitcoin price, btcusd

Market Events

The US NFP report printed weaker than expected results, as the economy added only 151K jobs in January. Still, the unemployment rate fell to its nine-year low of 4.9% while the participation rate improved. Also, average hourly earnings rose 0.5% versus projections of a 0.3% uptick.

There are no reports out of the US economy today and Chinese banks are closed for the holidays, indicating quiet trading during the Asian sessions. Also risk sentiment could be on the cautious end for now, which suggests that further consolidation could be possible.

Up ahead, there are no major reports lined up for the rest of the week so traders might also take cues from commodity prices. So far, oil prices have gained support on speculations that an OPEC special meeting is in order. Any indication of a possible production cut could send commodities higher and boost bitcoin price, which typically rises when risk-on flows are seen.

Potential Breakout?

A breakout in either direction could push bitcoin price on a strong trend. Note that the triangle pattern is around $70 in height so a resulting breakout could lead to the same amount of gains or losses.

A move past the $400 level could take bitcoin price up to $470 while a break below the triangle support at $370 could yield losses until $300. Watch out for a long green candle closing above the triangle resistance before going long and a long red candle close below support before shorting.

Intraday support level – $370

Intraday resistance level – $400

Technical Indicators Settings:

  • 100 SMA and 200 SMA
  • RSI (14)
  • Stochastic (8, 3, 3)

Charts from Bitstamp, courtesy of TradingView

Key Highlights

  • Litecoin price tumbled once again and failed to capitalize on the previous week gains, as sellers stepped in to prevent upsides.
  • The price is now following a descending channel pattern on the 2-hours chart with data feed from HitBTC, which may play a major role in the short term.
  • There is a bearish trend line formed on the 30-min chart (data feed via Bitfinex), which can be seen as a sell zone.

Litecoin price stalled around the $3.30 area, and currently under a lot of bearish pressure that could result in a sharp downside move.

Sell Near Trend Line Resistance?

Litecoin price after trading as high as $3.20 (data feed via Bitfinex) found resistance and started to move down. There was a lot of selling pressure noted, which resulted in a continuous downside move. There is a bearish trend line formed on the 30-min chart (data feed via Bitfinex), as highlighted in this past week’s analysis. We sold a couple of times around the same trend line and were successful. The idea remains the same, and as long as the price is below the highlighted trend line and resistance area, we may continue to look for sell opportunities.

Litecoin Price Technical Analysis

The bearish trend line is also coinciding perfectly with the 100 simple moving average, suggesting that the same trend line holds a lot of importance in the short term. Buyers may find it tough to clear it, as the 23.6% Fib retracement level of the last wave from the $3.18 high to $3.01 low is also around the trend line resistance area. If sellers fail to defend the highlighted trend line resistance zone, then we can even attempt a buy with a break. The next level of interest in that situation could be around the 50% Fib retracement level of the last wave from the $3.18 high to $3.01 low.

There are bearish signs on the higher time frame chart as well like the 2-hours chart with the data feed from HitBTC. The price traded around $3.30 where it found selling interest, and started to move down. There is a descending channel pattern formed, which is acting as a reason for a downside move. The price is now below the 100 simple moving average on the 2-hours chart (data feed via HitBTC), calling for more losses in the near term. If the price spikes towards the channel resistance trend line, then the stated 100 MA might also come into play to act as a barrier for sellers.

Litecoin Price Technical Analysis

On the downside, an initial support can be around the 76.4% Fib retracement level of the last leg from the $3.03 low to $3.29 high. The most important one is the channel support trend line, which could play a major role for both sellers and buyers moving ahead. A break of channel pattern may take the price back towards the last swing low of $3.03. In that situation, the price might even trade towards the $3.00 handle.

Looking at the indicators:

2-hours MACD – The MACD just moved in the bullish zone, which is interesting considering the bearish pressure.

2-hours RSI – The RSI is below the 50 level, which is a contradicting sign with MACD.

Intraday Support Level (HitBTC) – $3.10

Intraday Resistance Level (HitBTC) – $3.18


Charts from Bitfinex and HitBTC; hosted by Trading View