New Bitcoin Price Highs In Q1-Q2 2019 Says Mike Novogratz

Mike Novogratz, investor and cryptocurrency bull has fine tuned his predicted price outlook that it would not break $10,000 in 2018.

He is known for his optimism about bitcoin’s future and have called bitcoin’s bottom in the market mid-September.

He states more time is required for the momentum to build up to take the price of bitcoin to new highs.

The long-anticipated wave of institutional investors that will serve as catalyst for this event he says will only happen next year.

He predicts that this wave could happen in the first or second quarter of 2019.

He further explains that while 2018 was boon for Bitcoin, crypto-related services needed testing prior to it attaining mass interest based on investor trust.

While Novogratz has recalibrated his prediction of bitcoin price for this year some experts are still sticking with their more daring price prediction like Tom Lee, Fundstrat Global Advisory analyst maintains his prediction that bitcoin could possibly hit $25,000 before the year ends.

Pantera CIO Predicts 10x Market Rise On The Next Bitcoin Bull Run

Joey Krug, Pantera Capital’s co-chief investment officer has recently predicted that the next cryptocurrency market’s bull run will carry the market 1,000% from its current valuation.

The next upswing he predicts could propel the cryptocurrency market cap to more than $2 trillion.

He says that news of major financial industry players like Fidelity Investments and Intercontinental Exchange (ICE) entering the cryptocurrency space would surely spark speculative investments.

The market is currently still waiting on concrete adoption to catalyze a bull run.

He also reveals that for this to happen, cryptocurrency networks will need to address its scalability issues explaining, in comparison to the internet ecosystem, wherein you can always create an app and address scalability later, however without scalability for crypto markets, there are no market makers which means there is no liquidity.

There have been efforts to make bitcoin more scalable. Lightning Network (LN) is a second-layer protocol that operates on top of Bitcoin which requires no miner validation making transactions instant and virtually no cost.

Another effort is the Liquid Network which is a federated Bitcoin sidechain developed by blockchain statup Blockstream and targeted at cryptocurrency exchanges and financial institutions that desire to move large amounts of bitcoin more quickly and privately.

Toyota Using Blockchain To Reduce Ad Fraud

The Japanese automobile giant, Toyota has recently partnered with blockchain advertising analytics firm Lucidity to cut down on fraud according to a press release last October 16, 2018.

Lucidity was formerly known as KR8OS and was founded last year in Los Angeles.

It offers an Ethereum blockchain solution that enables users to track Supply Chain payments so that they can monitor how their funds are allocated.

Through this partnership of Lucidity, Toyota and global ads agency Saatchi & Saatchi are aiming to attain transparency in Toyota’s digital ad campaign buys and eliminate wastage in ads spending.

It has been reported that the automotive digital advertising market is estimated to be around $15 billion n the U.S. in 2018.

According to Media Director at Toyota Mother North America, Nancy Inouye, there has been an 21% increase in visits to Toyota’s website.

Lucidity was able to flag sites and apps with a high level of impression and click discrepancy (indicating fraud) and mode funds to sites with higher performance.

$194 Million Moved With Only $0.1 Fee Using Bitcoin

It has been reported that a bitcoin user was able to move $194 Million USD worth of bitcoin (29,999 BTC) with a fee of $0.1 fee.

This type of transactions would have cost tens of thousands of dollars when moving through traditional financial channels.

A case in point Transferwise is a UK-based multi-billion dollar firm that eliminates hidden fees in bank transfers.

However even when using such a platform to send over $1 Million USD will cost around $7500 USD in transaction Fees.

In comparison, the bitcoin network was able to move $194 million USD for much less as stated earlier.

Given the ability of cryptocurrencies processing large-scale payments at the same cost of small transaction, it is high likely that the cryptocurrency will gain acceptance by investors and firms in the offshore banking market, a $30 trillion industry that relies on financial institutions to clear large transactions.

Spending $0.1 to $1 for a $5 to $10 transaction could be impractical, however spending the same fee to process multi-million dollar transactions provide cryptocurrencies a clear edge over legacy systems.

Europe Has Overtaken Asia In Token Sales

Token sales on Europe are close to exceed the total sales of Asia and U.S. combined.

This information was released by Fabric Ventures, a venture capital fund investing in blockchain and decentralized network projects.

The report details the possible reasons behind the surge in European ICO funding in 2018.

It cites positive regulatory revelations, the separations of economies in the European Union and increasing development activity has been the catalyst for this positive development.

The report also reveals that in 2018 alone, ICO fundraising in Europe is approximately $4.1 Billion, nearly double of that raised in Asia which currently stands at $2.3 billion and significantly higher than the $2.6 billion that has been raised in the United States.

It also cites that Gibraltar and Malta, two of the EU’s smallest nations are drawing a significant amount of ICO funding totaling approximately $300 million mainly due to their very favorable legislation initiatives towards cryptocurrencies.

However despite the two being touted to be crypto nations they are still behind other nations such as U.K., Switzerland and Lithuania which has brought in $490M, $556M and $271M respectively.

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