Bitcoin To Reach A Price Of $150,000 In 2023

According to a cryptocurrency technical analyst and investor Josh Rager, Bitcoin will surpass $150,000 by 2023.

This was based on the price trend of Bitcoin since 2011 and a pattern of bitcoin rebounding from a correction following an all-time high and he sees this happening by 2023 exactly 2051 days from now.

However despite his very optimistic long term prediction of the current dominant cryptocurrency an interesting fact about his prediction is his bearish view on the near-term price trend of Bitcoin.

Technical analysts and traders have suggested that bitcoin can avoid a drop to a key support level of $3,500 if it can sustain its momentum in the $4,000 region.

Rager laments that nobody really knows the next moves of Bitcoin but it is historically a good idea to short or sell near $4,200 and buy or long near $3,500.

US SEC Seeking Crypto Specialist Attorney Advisor

It has been reported that the United States Securities and Exchange Commission (SEC) is seeking a crypto specialist attorney advisor who will be working closely with its Division of Trading and Markets (TM).

The main responsibility of the attorney advisor is to establish a comprehensive plan to address crypto and digital asset securities.

The attorney advisor will worth TM staff and members of other SEC offices and divisions.

According to the job listing offer the new hire should have an expert-level industry knowledge of crypto and digital asset securities as well as other related products and will serve as the division’s point of contact.

Other requirement for the post include Juris Doctor (J.D.) or bachelor of Laws (LL.B) degree, membership of the Federal Bar Association with good standing and a four years of post J.D. experience as a practicing attorney.

Facebook Competitor Now Wants To Issue Its Own Crypto

Vkontakte (VK) is widely considered the Russian Facebook and like Facebook it is also planning to release its own cryptocurrencies which it plans to offer for its 100 million users.

The new VK cryptocurrency will be used to incentivize content creators that share interesting post that users would like.

The digital currency could also be used to buy and sell goods to each other and to transfer fund using VK Pay.

The project is currently under development still and the final decision on when it will be launch or if ever it will be launched is still under discussion.

Earlier last year VK launched its money transfer system called VK pay a cashless transfer system that VKontakte launched in June 2018.

It would be interesting to know if the new project will be successful given the fact that the Russian government is lukewarm on the idea of cryptocurrencies.

Finite Supply Of Bitcoin Challenges Crypto Regulators According To CME Group

Terry Duffy, the CEO at CME group has recently revealed that the finite supply of Bitcoin is a big challenge for regulators.

He believes that the key selling point of cryptocurrencies, its finite supply, is a hindrance to their greater adoption of state bodies.

Duffy also reveals that cryptocurrencies like Bitcoin just don’t fit in any existing traditional (fiat) model yet and big traditional financial institutional organization does not feel comfortable to participate in crypto markets unless governments globally start allowing digital currencies.

He also states that Stablecoins which are pegged to fiat currencies has a better chance of mass adoption as they have similar characteristics of fiat money.

According to the CEO stablecoins hold more promise than standalone digital currencies since they have more practical use.

Coincheck Launches OTC Traing Desk

It has been recently reported that one of Japan’s major exchange has launched its own Bitcoin (BTC) over-the –counter trading desk for large-scale investors.

The Coincheck OTC trading desk will allow clients to directly trade large volumes of Bitcoin that starts at 50 BTC with each other via a web portal that it has developed.

The OTC trading desk will only operate during weekdays from 10:00-15:000 (JST).

Coincheck also reveals that other cryptocurrencies will be supported in the trading desk in the future making BTC the only crypto supported in the platform.

Last year Coincheck was involved in one of the highest crypto heist worth $532 million USD worth of crypto but under the stewardship of its new owners, Monex, it was able to improve its services as well as reimburse its affected customers.

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