• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Spin & WinTry
No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Spin & WinTry
No Result
View All Result
NewsBTC
No Result
View All Result
technical analysis bitcoin
Nexo Logo

Jesse Lund of IBM: Bitcoin (BTC) Value Derived From Its Utility

Dalmas Ngetich by Dalmas Ngetich
3 years ago
in Uncategorized
Reading Time: 2 mins read
Advertisement
  • Bitcoin prices up 10.1 percent in the last week.
  • Jesse Lund projects Bitcoin value to hit $1 million in ten years
  • Transaction volumes increase in the last three weeks

Jesse Lund is optimistic of future Bitcoin prices valuing the coin at $1 million. Cementing his optimism is increasing adoption which he says draws value and hence the huge valuation. Before $1 million, Bitcoin (BTC) must first breach $4,500 with decent volumes.

Bitcoin Price Analysis

Fundamentals

The creation of Bitcoin was monumental. It will continue to be as long as the demand for better fiat alternatives exists. Going by latest projection, it is likely that BTC prices will find use, proving its utility as peer-to-peer electronic cash.

Although the contention is on whether the coin will find eventual use as a store of value, that is, a settlement layer, or a medium of exchange, it is clear that Bitcoin adoption curve is on the right track. Regulators are thawing, and as the Lightning Network gain traction, it is the borderless BTC that will draw demand.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

As a result of this upbeat view, it is no wonder that the SVP of IBM, Jesse Lund is very bullish on Bitcoin. It’s all about utility and the more valuable the coin, the more value it draws. In an interview at the Think Conference, he said the currency would be at $1 million in a decade:

“I have a long-term outlook. It goes back to that discussion about the utility of the network at a higher price. I see Bitcoin at a million dollars someday. I like that number because if Bitcoin’s at a million dollars, then the Satoshi is on value parity with the US penny. And that means there’s over $20 trillion of liquidity in this network. Think about $20 trillion in liquidity and how that changes things like corporate payments.”

Candlestick Arrangements

Bitcoin

In the short term, the trend is set, and Bitcoin (BTC) buyers are in control. Despite yesterday’s liquidation attempts, BTC is edging higher thanks to demand surge in the Asian session. As a result, price action has been realigned and trending in line with our last BTC/USD trade plan.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

Since prices are up 10.1 percent from last week’s close, buyers have the upper hand. First targets will be at $4,500 but it is when prices rally above $4,500 is when risk-averse, conservative traders can buy on dips with first target at $5,800—the first resistance level.

Technical Indicators

Encouragingly, market participation is on the rise according to data from BitFinex. Average daily volumes are up from 10k registered on Feb 6 to 15k of Feb 21. We expect this trend to continue as BTC prices expand towards $4,500. Ideally, any break above $4,500 should be at the back of high volumes exceeding Feb 18’s 37k.

Tags: bitcoinbtc
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Dalmas Ngetich

Dalmas Ngetich

Interested in new Tech

Related Posts

Ethereum

Ethereum Gas Fees Touch New Lows, What’s Ahead For Ethereum

11 hours ago
Cardano Slides Below $0.50 Alarming A Danger Ahead

Cardano Slides Below $0.50 Alarming A Danger Ahead

14 hours ago
Cardano

Cardano TVL Sheds $205 Million Since Hitting All-Time High

16 hours ago
ethereum

Bearish Indicator: Is Bitcoin Headed For Its Ninth Red Weekly Close?

1 day ago
ethereum

Ethereum Profitability Dumps To 2-Year Low As Price Corrects Below $2,000

1 day ago
Cryptocurrency

Cryptocurrency Mining Chip Producer Nvidia Reports Significant Profits After Decline

2 days ago

Premium Partners

Top Brokers

PrimeXBT

PrimeXBT

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
7BitCasino

7BitCasino

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Wildcoins Casino

Wildcoins Casino

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bspin

Bspin

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit

Top 3 Defi Cryptos To Buy This Month: CashFi (CFI), Compound (COMP), and Ethereum (ETH)

May 28, 2022

Cryptos that aim to revolutionise crypto technologies in 2022 – Sanzooz Finance (SZFT), Avalanche (AVAX), and Cardano (ADA)

May 28, 2022

3 Cryptos To Buy This May, Mushe Token (XMU), Decentraland (MANA), Axie Infinity (AXS)

May 28, 2022

Award-Winning Projects of the $1,000,000 KCC Unicorn Contest

May 28, 2022

Gringotts Labs rolls out Lending Protocol Zenith after Capricorn Finance becoming a winner

May 28, 2022

ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2021 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play Games
  • Bet & Win
  • Spin & Win

© 2021 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.