Bitcoin shortage: That’s why BTC is now looking at a price target of $ 50,000

Bitcoin could hit $ 50,000 in the near future as more institutions pile up BTC against their fears of dollar-linked inflation.

The flagship cryptocurrency, whose market cap recently surpassed that of Facebook and Tesla , fell from its record high near $ 42,000. Nonetheless, its downfall spurred wealthy traders and institutions to buy Bitcoin Future cheaply , creating a further squeeze in liquidity from its limited supply cap of 21 million tokens.

As a result, the Bitcoin price mostly consolidates sideways, forming a structure that looks like a symmetrical triangle. In retrospect, the said pattern moves as price makes higher lows and lower highs.

Meanwhile, the trading volume decreases. Ultimately, the price breaks out in the direction of its previous trend – up or down

Bitcoin’s previous trend was bullish. Therefore, the probability that the cryptocurrency will do another uptrend is higher if it breaks out of the triangle pattern. That should bring the price over $ 50,000.

This is – once again – due to the textbook description of a symmetrical triangle. An asset breaks out by as much as the maximum height between the top and bottom trend lines of the pattern. In the case of Bitcoin, the amount is around $ 14,000.

Bitcoin is seeing the breakout of its symmetrical triangle pattern. Source: BTCUSD on
Movement above the triangle, coupled with an increase in volumes, should bring Bitcoin price above $ 50,000.

Bitcoin liquidity crisis

Fundamentally, the price target looks achievable, at least according to a large number of analysts who determine their market prejudices on the basis of on-chain indicators. For example, Glassnode’s data analysts have highlighted Bitcoin’s biggest liquidity squeeze to date in the past few weeks, suggesting that this is bullish for the cryptocurrency.

„Not only are money withdrawn from the exchanges, but the coins are continuously being passed into strong hands,“ the researchers said.


„In the last 30 days, around 270,000 BTC moved to entities that are considered HODLers.“

„The [Glassnode] chart could be more important than the price chart: Bitcoin supply is being withdrawn from exchanges at an all-time high pace,“ added Luke Martin, an independent market analyst.

“Historically, bull cycles have ended AFTER the change in liquid supply turns positive. This change has not happened so far. “

Dollar abundance

Part of the reason is a comparatively higher demand for Bitcoin amid an ongoing anti-inflation narrative. Joe Biden’s rise to US president has raised the prospect of additional government spending to protect the economy from the aftermath of the coronavirus pandemic.

That means a plentiful supply of dollars – which is perceived by many to be bearish for the greenback.

Such fears have already prompted companies like MicroStrategy and Square to buy Bitcoin and exchange part of their dollar reserves for BTC.

Meanwhile, legendary investors like Paul Tudor Jones and Stan Druckermiller have also invested small sums in the cryptocurrency market, both of whom believe that BTC is “the better gold”.

Der Bitcoin-Preis nähert sich 30.000 US-Dollar mit neuen Allzeithochs

Eine schnelle Rückkehr zur Form für Bitcoin führt zu einem täglichen Gewinn von 8% und gibt keinen Hinweis auf eine tiefere Umkehrung unter 30.000 USD.

Bitcoin ( BTC ) kehrte am 30. Dezember zu Rekorden zurück, nachdem ein neuer Aufschwung das Allzeithoch von 28.400 USD überschritten hatte.

BTC Preis Nägel frisch Allzeithoch

Daten von Cointelegraph Markets und TradingView zeigten, dass BTC / USD während des Handels am Mittwoch seine bestehende historische Spitze angepackt hat .

In einem starken Wiederaufleben über Nacht bestätigte Bitcoin, dass es keine Zeit für Bären hatte, nachdem es in den letzten 24 Stunden kurzzeitig auf 25.830 USD gesunken war.

Die täglichen Gewinne lagen zum Zeitpunkt der Drucklegung bei 7,5%, als 28.560 USD Realität wurden.

Der Schritt bringt Bitcoin immer näher daran, 30.000 US-Dollar als neues psychologisches Niveau vor Jahresende zu besiegeln, was noch vor einer Woche so gut wie unmöglich schien.

Wie Cointelegraph berichtete , glauben Analysten jedoch immer noch, dass eine Umkehrung die größte Kryptowährung auf die bestehende Unterstützung von 19.500 USD reduzieren könnte.

Am Dienstag, den Cointelegraph Markets Analyst Michaël van de Poppe dennoch hervorgehoben $ 27,500 als kritischen Bereich zu brechen , um den Weg für neue Allzeithochs zu ebnen.

Der Ätherpreis führt zu Altcoin-Gewinnen

Die Auswirkungen auf die Altcoins mit großen Marktkapitalisierungen waren deutlich zu spüren. Ether ( ETH ) näherte sich 740 USD, nachdem er an diesem Tag um 5,5% gestiegen war.

Polkadot (DOT) erhöhte die vorhandene Stärke , um einen wöchentlichen Leistungsansatz von 50% zu erzielen.

Nach wie vor war die Ausnahme XRP , das tägliche Verluste von 10% aufrechterhielt, da fortgesetzte Delistings durch große Börsen die Stimmung weiter belasteten. Trotzdem gelang es der unruhigen Münze, 0,20 Dollar zurückzugewinnen.

Grayscale innehar 19 miljarder dollar i Bitcoin, Ethereum och annan krypto-AUM

Grayscale Investments förvaltade tillgångar (AUM) är nu värd $ 19 miljarder i krypto enligt grundaren Barry Silbert.

VD för Digital Currency Group gick på Twitter för att meddela att den 29 december har Grayscales AUM tredubblats från och med den 1 november, då den hade 7,6 miljarder dollar i förvaltning. Företaget har också sett en betydande tillväxt på bara två veckor. Den 15 december avslöjade Silbert att Grayscales AUM var 13,0 miljarder dollar vid den tiden.

Ki Young Ju från CryptoQuant fann att 16% av Bitcoin Pro marknadsvärde nu ägs av institutionella investerare och hänvisade till Grayscales AUM i en tweet idag som sa:

Tidigare visade Grayscales investeringsrapport för tredje kvartalet att när det gäller dess enheter, såsom BTC-förtroende, kom 80% av investeringarna från institutionella investerare, som dominerades av säkring. Företagets Bitcoin Trust AUM var Grayscales snabbast växande investeringsprodukt den 14 oktober. Den genomsnittliga veckovisa investeringen i Grayscale Bitcoin Trust var 39,5 miljoner dollar och förtroendet upplevde 719,3 miljoner dollar i 3Q20 inflöden, eller 1 500% ökning.

Efterfrågan på andra Grayscale-produkter, till exempel dess Bitcoin Cash Trust, ökade också betydligt under tredje kvartalet, med inflöden som ökade med mer än 1400% kvartal över kvartal.

Gråskala har dock fått kritik från influenser. Euro Pacific Capital VD Peter Schiff anklagade till och med kapitalförvaltaren för att „pumpa“ bitcoin till investerare genom att betala för reklam på CNBC. Han hävdade att gråskala brände bitcoinbubblan:

Schiff hävdade också att så länge Bitcoins priser stiger skulle Grayscale vara „den största Bitcoin-köparen.“

Det har dock funnits flera andra företag som har investerat i den populära krypton. MicroStrategy, ett börsnoterat företag, avslöjade över $ 1 miljarder i totala bitcoinköp gjorda 2020.

När det gäller offentliga företag som innehar bitcoin antydde faktiskt data från Bitcointreausuries att över 800 000 Bitcoin eller 4% av det totala cirkulerande utbudet innehas av offentliga företag. Dessutom rankas Galaxy Digital som har 16 651 BTC och Square (4 709 BTC) andra respektive tredje i listan över offentliga företag som innehar bitcoin.

Despite negative reports – institutional investors continued to show interest

Institutional investors are continuing to buy Bitcoin, although negative news has recently been spoiling investor sentiment.

On the night of Christmas Eve, Bitcoin Pro was rejected at the US $ 24,000 mark, but the hunger of institutional investors is not lessening.

According to data from the analysis platform CryptoQuant, the crypto exchange Coinbase Pro, which specializes in professional investors, recorded two payouts this week, each of over 12,000 BTC (278 million US dollars).

Coinbase is paying out $ 500 million to BTC

As Cointelegraph reports , withdrawals of this magnitude often indicate that a major investor has purchased a significant amount of Bitcoin that is being moved into a single wallet.

„Another great Coinbase payout within a few hours“ as Ki Young Ju, CEO of Crypto Quant, accordingly on Twitter finds . From this he concludes:

„The institutional investors are buying Bitcoin.“

In November, all Bitcoin miners together “mined” around 28,000 BTC in block rewards, which is only slightly more than the sum of the two most recent Coinbase withdrawals. This makes it clear that there is currently a shortage of the market-leading crypto currency, which in turn drives its price upwards.

Negative reports ruin the festival

The continuing interest of institutional investors is in stark contrast to the latest developments in the market, which are dampening investors‘ Christmas mood somewhat. Above all, the SEC lawsuit against crypto payment service provider and XRP publisher Ripple is causing tremendous turbulence, but the threat of massive Bitcoin sales in the case of the Mt. Gox crypto exchange are also causing concern.

The fear that trading in the Ripple crypto currency XRP could be banned entirely in the future was probably the breeding ground for the volatility of Bitcoin in the past 24 hours.

At the same time, the market is keeping an eye on the sponsors of Mt. Gox, who own large amounts of BTC through repayments, which they may now want to sell at the current record rate . That alone could add $ 3.2 billion to selling pressure.

Despite this negative news, institutional investors still seem confident about the future of Bitcoin, which can be seen not least from the two large Coinbase payouts.

Sipulimarket Dark Web Site fechado e Bitcoin apreendido

  • O Sipulimarket foi retirado do ar e seu Bitcoin foi apreendido.
  • O Sipulimarket substituiu o antigo gigante da teia escura Silkkitie, que foi fechado em 2019
  • A alfândega finlandesa apreendeu uma quantidade desconhecida de bitcoin

O Sipulimarket foi fechado em uma operação conjunta entre a alfândega finlandesa, a polícia polonesa e a Europol, com a apreensão de bitcoin como resultado. O site, que foi lançado não muito depois que o site escuro da Silkkitie foi derrubado no ano passado, tornou-se um favorito entre os usuários escandinavos da web escura, com seu fechamento marcando outro golpe contra os operadores escuros da web.

O Sipulimarket se tornou o primeiro site negro da Finlândia.

O Sipulimarket, criado em 2019, havia se tornado o maior mercado finlandês de escuridão após o fechamento da Silkkitie, considerada a Rota da Seda finlandesa, em maio do ano passado. O Sipulimarket preencheu a lacuna deixada pela Silkkitie, atendendo o mercado escandinavo, e era conhecido por ser um dos maiores sites escuros da Europa, embora por razões óbvias a renda real seja desconhecida.

Como muitos sites escuros, o Sipulimarket se concentrava na venda de narcóticos, mas itens digitais e informações sobre cartões de crédito também estavam à venda. O site usava um sistema de caução, onde o dinheiro pago pelos itens residiria até que a transação fosse concluída.

Bitcoin Haul Não Revelado

Não foi revelada a quantidade de bitcoin que foi recuperada das contas de depósito e das carteiras do Sipulimarket, mas dado que elas eram um dos maiores sites escandinavos da Escandinávia, pode-se supor que o lanço era grande em tamanho. A alfândega finlandesa realizou a apreensão do Bitcoin, sendo provável que os lucros sejam leiloados no próximo ano.

Uma declaração divulgada pela Europol revelou a extensão da colaboração necessária para trazer o Sipulimarket à terra, com a alfândega finlandesa (Tulli) trabalhando com a sede da polícia provincial polonesa, o Centro Europeu de Crimes Cibernéticos da Europol (EC3), a Eurojust (Agência da União Européia para Cooperação em Justiça Criminal) e a empresa Bitdefender de segurança cibernética.

Trend reversal? Investors use price setbacks for altcoin investments

After a temporary price weakness in the middle of the week, the key currency Bitcoin and with it the majority of Altcoins can recover significantly in the last few days. Ripple (XRP) comes under increasing pressure after the termination of the Spark Token Airdrop on Saturday December 12th and collapses by 18 percent compared to the week.

Last week, it looked like further consolidation in the crypto market

But the crypto key currency Bitcoin Revolution scam has been bullish again in the last few days and can rise again above 19,000 US dollars. At its peak, Bitcoin fell by around 10 percent and also had the majority of altcoins corrected. However, the bulls returned to the market in good time and once again fought off all corrective efforts by the bear camp. The largest cryptocurrency is thus only trading slightly lower than the previous week at 19,180 US dollars. The top 10 altcoins are only marginally weaker, but lose an average of three percentage points. Ripple (XRP) in particular loses in the course of the airdrop carried outyesterday, Saturday, December 12th, by 15 percentage points. A renewed attack by the BTC price on the all-time high should once again have a positive effect on the price development on the overall market in the coming trading days.

Best price development among the top 10 altcoins: Stellar (XLM)

In the previous week, the XLM price corrected significantly and fell to the supertrend at 0.140 US dollars. Based on this support, the price of Stellar rose again in the last few days of trading and was able to cross its red downtrend line at the daily closing price on Sunday, December 13th. This enabled the XLM rate to regain the EMA20 (red) at $ 0.158.

Bullish variant (Stellar)

If the price of Stellar stabilizes above $ 0.162 at the end of the day, a rise to the resistance at $ 0.189 is initially likely. An important horizontal resist runs here, which has had several price-limiting effects. If the XLM price dynamically overcomes this resistance, a march through to the 261 Fibonacci extension at $ 0.220 is conceivable. If the bulls can break through this resist and also break through the high for the year at US $ 0.229 sustainably, the price target will be activated at US $ 0.238. The superordinate 23rd Fibonacci retracement runs here. If this resist is subsequently also overcome, the 361 Fibonacci extension at US $ 0.283 comes into focus. If this resistance level can also be broken sustainably, a march towards 0 is necessary, $ 321 and $ 0.345 likely. Looking ahead, a sustained rally in Stellar prices should lead to the overarching 38 Fibonacci retracement at $ 0.370. In the medium term, the XLM rate could rise to $ 0.407 and a maximum of $ 0.476 (50s Fibonacci retracement).

Bearishe Variante (Stellar)

If, on the other hand, there is a false breakout and the XLM price falls back below the downtrend line and the EMA20 (red) at $ 0.162, the bears will try their luck again. If the development low at 0.144 US dollars is subsequently undercut, the cross-support from EMA50 (orange) and Supertrend at 0.136 US dollars comes into focus. If this support is also undercut by the daily closing price, a retest of the outbreak level at 0.119 US dollars should be planned. The EMA100 (yellow) is currently also running here. If the green support area is subsequently left downwards, this is to be assessed as a sell signal. A correction back to the EMA200 (blue) at $ 0.098 is likely. However, as long as Stellar is trading above $ 0.136,

Indicators: RSI is neutral, MACD with an active sell signal

The RSI can break down from its overbought condition and is trading in the neutral zone again. A renewed rise above 55 would activate a new buy signal. The MACD indicator, on the other hand, tends further south and has a sell signal. On a weekly basis, both indicators have still activated a buy signal, which favors the long scenario of a further increase in the XLM price.

The rise of large mining companies is inevitable

2020 marked a new era for institutional mining, giving rise to new possibilities and problems.

There are very few investments capable of combining infrastructure and venture capital. Mining, if taken to the highest level, allows arbitrage in the energy markets and simultaneously accumulate Bitcoin (BTC). This is why we are witnessing a boom in the Bitcoin mining industry and start building mega-structures. So let’s analyze some of the main elements to be taken into account for a profitable mining company.

Securing new generation hardware

At its peak performance in 2018, Bitmain was producing over 95,000 machines per week. However, since then, its production levels have dropped, also due to the ongoing legal dispute. On the other hand, MicroBT plans to deliver hundreds of thousands of devices during the year.

Western countries receive only a small proportion of these new machines, and with 17 listed mining companies and large ASIC speculators announcing purchases every week, it is easy to conclude that that limited supply of new equipment is quickly running out. Building direct relationships with manufacturers has become critical to ensuring a wide availability of new machines. But how do you ensure a stable supply of hardware? With a large chequebook, of course.

Reduce capital expenditure

Economies of scale are at odds with decentralisation. Yet, like most other economic sectors, mining rewards large dimensions. More structured mining companies have access to discounts on ASIC retail prices. With an average depreciation period of around 300 days for new generation equipment, the discount can be reduced by more than one month. In addition, large miners pay less down payments, in some cases around 20%, compared to over 50% for retail sales. This allows miners to buy more equipment and build larger structures faster.

From an infrastructure point of view, in most cases the construction of a 30 megawatt mining farm is much cheaper per MW than a 3 MW plant.

Maximising operating profits

If you want low-cost energy, you will need to invest considerable capital for expenses such as the purchase of land, generators and equipment, the construction of large infrastructure, the financing of performance bonds, etc.. Although small miners take advantage of low-cost energy sources, the most profitable companies are the largest: they have the capital needed to secure the best positions and, as we know, the cost of electricity is one of the determining factors for success.

Beyond the supply of cheap electricity, large miners can negotiate lower fees for pools, firmware development and ASIC management software. They can also reduce the amount of manpower required per MW, increase the efficiency of their management and improve the effectiveness of their energy use.

Access to higher financing mechanisms

Mining is a capital-intensive activity as it requires constant equipment upgrades and new purchases. The construction of a 10 MW mining farm with new generation equipment can cost almost $10 million, depending on the purchase price.

Access to various forms of financing is therefore essential to ensure that the facilities remain large and enjoy the benefits discussed above.

From 2018 to 2019, most of these mining operations were financed through a mix of debt and equity. In 2020 we saw a boom in ASIC funding. Large mining companies are now able to raise funds from lenders using their ASIC machines as collateral. The number of these lenders is still limited, so they give priority to the best low-risk operators.

Manufacturers have also changed

Most of the first questions that are asked when the mining opportunity arises relate to the equipment: „Where does the equipment come from? Who is the manufacturer? Is there a guarantee? What is the price? Why does the price change every day? When are the machines shipped?

Manufacturers like Bitmain have been pioneers in the crypto investor review since this industry was a real Wild West. In 2016 the race began to bring as many machines as possible onto the market. Things like company policies, shipping and pricing details, warranties, repair centres and transparency were almost completely ignored.

When big business entered the industry, everything changed, from the mentality of manufacturers downwards. Now mining equipment manufacturers make weekly phone calls to key customers, discussing production visibility and offering greater transparency in operations. In addition, most manufacturers now offer machine warranties, have opened repair centres and try to be more transparent about shipments and prices, although overall the industry still has a long way to go.

This trend towards professionalisation of the sector is likely to continue in the West.

Mining pools offer greater transparency

Another question that a large company could ask itself is: „Where will the money come from?“.

Usually, the answer is: from a mining pool, because they buy hash installments. So it is legitimate to ask who this counterparty is and what risks are associated with managing them.

Pools have historically been a problematic element in the mining value chain. Large companies have helped to increase the price transparency of mining pools, reduced the number of pools they steal from miners, and encouraged them to develop a new set of features. The mining pool industry is evolving rapidly and if companies do not keep pace, they will lag behind. All these trends will benefit large companies who want to deal with serious and compliant counterparts.

Consolidating the industry

A wave of consolidation is probably on the horizon in the mining sector: there are hundreds of large companies and teams fighting for space, ready to be acquired.

The main consolidation will take place at farm level. These mergers and acquisitions will most likely take place at the project level rather than at the company level, similar to what happens in the real estate industry.

Financial services companies will also be natural buyers, as they will seek to build an ecosystem that embraces both the mining and financial value chain.

Financing the hash rate

With each traditional commodity, companies have the ability to leverage financial instruments to hedge their cash flows through futures and options, sell part of their production in purchase or forward contracts, and more.

To date, there are very few financial instruments based on the hash rate. The entry of large companies will change this situation, as they are creating demand for this type of product. The need for miners must be met by other players, such as traders, to create liquid and solid markets.

Five-year prospects for mining

If you had told the miners in 2015 where we are today, they probably wouldn’t have believed you: millions of ASICs securing the grid, gigawatts of energy used and companies like Fidelity opening their own mining company.

It’s hard to predict how the industry will evolve over the next five years, but I believe that large institutions will continue to drive innovation in the industry, creating a safer network for Bitcoin. But this will also lead to new challenges such as protocol censorship, more Know Your Customer/Anti-Money Laundering procedures, less decentralisation and so on. Mining companies will have to work closely with these new players to create a better future for BTC.

Van Eck: Bitcoin is „less volatile than many“ stocks

Van Eck’s latest investigation appears to be an effort to quell investor fears about Bitcoin … as well as those of the SEC.

On Friday, investment management firm Van Eck released new research indicating that Bitcoin’s price movements are less volatile than between a quarter and a third of stocks listed on the S&P 500.

BlackRock CIO Says: ‚Bitcoin Will Take The Place Of Gold To A Large Part‘

In a blog post, the German issuer of publicly traded products said that while Crypto Wealth has long been considered a „nascent and volatile asset outside of traditional equity and capital markets,“ reality shows that the largest cryptocurrency The world is traded with volatility comparable to that of some of the world’s largest companies.

So far this year, 29% of stocks in the S&P 500 experienced more volatile price swings than the digital currency, while 22% did the same over a 90-day period, Van Eck said.

Bloomberg’s Mike McGlone Believes Bitcoin Could Hit $ 170,000 In Next Two Years

The research is remarkable, given that Van Eck’s top offerings are largely expressed in an asset class long considered a competitor to Bitcoin: gold.

Of the nearly $ 50 billion in assets managed by Van Eck, most are related to gold funds, and the company founded both the first gold stock fund in 1968 (INIVX) and the first gold miners ETF, now wildly popular, in 2006 (GDX).

With the share price topping that of Bitcoin, Riot Blockchain appointed its new director

Yet despite his emphasis on gold bullion, Van Eck was never fearful in exploring Bitcoin. The company is currently offering a publicly traded Bitcoin product to institutional investors, and previously submitted requests to the SEC to offer a Bitcoin ETF.

The company also recently issued a report in which it claims that institutional investors should consider having Bitcoin on their ledgers.

The Long Arm of Justice: How Far Can the Justice Department Really Go to Prosecute Foreign Actors?

Perhaps, given the regulatory hurdles Van Eck encountered during his latest project for a Bitcoin ETF, this latest investigation could be aimed more at allaying SEC fears than at investors, who to date have demonstrated a remarkable appetite for securities. backed by BTC.

El analista del banco pone la predicción de precios de Bitcoin „tan alta como $318.000“

En resumen…

  • Un alto ejecutivo de Citi predice que Bitcoin puede alcanzar la marca de seis cifras en 2021.
  • La subida de Bitcoin ha sido similar a la del oro en la década de 1970, dijo el ejecutivo.
  • El aumento de las monedas digitales respaldadas por el estado también muestra un régimen cambiante, uno que apoya el crecimiento de Bitcoin, añadió.

Tom Fitzpatrick, director general de Citi, ha predicho que el precio de Bitcoin puede llegar a más de 318.000 dólares en 2021 según una nota a clientes institucionales de la semana pasada. Llamó al movimiento en medio de un incierto entorno macro y sus similitudes con el mercado de oro de los 70.

Aunque los fanáticos del crypto trader lo han llamado „oro digital“, Bitcoin ha sido hasta ahora un pobre almacén de valor (debido a sus infames oscilaciones de precios) o medio de transferencia y ha surgido como un vehículo de comercio en su lugar. Sin embargo, según Fitzpatrick, tal telón de fondo es exactamente lo que ceba el activo como uno que sostendría una eventual „tendencia a largo plazo“.

Mediante el análisis técnico -previsión de los precios futuros de los activos utilizando ejemplos pasados, similitudes y datos- Fitzpatrick publicó la predicción de seis cifras de Bitcoin si seguía una trayectoria similar de los últimos siete años.

„Se observa que la acción de los precios es mucho más simétrica, más o menos, durante los últimos siete años, formando lo que parece un canal muy bien definido que nos da un movimiento ascendente de tiempo similar al último repunte (en 2017)“, dijo, como se muestra en la imagen de abajo.

Un ejecutivo de Citibank tiene como objetivo un precio de 318.000 dólares para Bitcoin. Imagen: Citi

Pero el precio objetivo de 318.000 dólares no se basa sólo en el dibujo de líneas en un gráfico.

Fitzpatrick llamó a Bitcoin el „nuevo oro“ y dijo que el tambaleante clima macroeconómico de hoy en día está creando espacio para una nueva estructura financiera, similar al telón de fondo de la creación de Bitcoin en 2008, una de las mayores recesiones de la historia.

Un entorno monetario cambiante

El ejecutivo del Citibank dijo que la política monetaria en los Estados Unidos ha sido históricamente moldeada por dos factores: la afinidad de la Reserva Federal con la impresión de dinero (para proteger su economía) y la eventual menor valoración de su moneda fiduciaria (llamada „debasing“). Esto fue lo último desde los años 70, cuando tuvo lugar la Gran Depresión, antes de este año.

Esto, en opinión de Fitzpatrick, crea tanto una demanda renovada de oro como su contraparte digital, Bitcoin.

„Es un activo con una oferta limitada. Se mueve a través de las fronteras y su propiedad es opaca“, dijo.

Fitzpatrick añadió que aunque Bitcoin puede estar sujeto a más restricciones regulatorias en el futuro, era una „reserva natural de dinero“ para evitar exactamente ese problema. Mientras tanto, el aumento de las monedas digitales respaldadas por el estado, como el Yuan digital de China, era otra indicación de un régimen financiero cambiante que podría, a su vez, apoyar el aumento de Bitcoin, señaló.

Mientras tanto, los círculos criptográficos de Twitter expresaron su entusiasmo por el precio objetivo, uno que valoraría la red de Bitcoin en una cifra masiva de 5,8 billones de dólares (por encima de los 300.000 millones de dólares actuales) con su oferta actual en circulación.

Cerealia launches blockchain platform for trade in the agri-food sector

Will blockchain technology simplify and make the global wheat market more efficient?

After two years of testing, the Swiss company Cerealia SA has launched a blockchain platform for global agricultural trade.

The launch follows an extensive test phase, conducted with companies from Algeria, Brazil, Dubai, Japan and Ukraine. In November 2018, Cointelegraph reported that the platform had been used to make a pilot purchase of Black Sea wheat from the Russian port city of Novorossiysk.

Cerealia told journalists that its intention was to respond to the need for a fast trading platform in the global Russian wheat market, and to combine it with a more reliable, transparent and technologically sophisticated transaction execution program.

CEO Andrei Grigorov said:

„Traders can now be 100% sure that they have actually finalised their purchase, compared to the uncertainty of traditional brokerage over the phone. Contracts and registers are signed digitally, in an instant, and will remain on blockchain ‚forever'“.
Russia is one of the world’s leading producers of wheat, and maize, barley, other cereals and vegetable oil are also widely grown in the country. According to Cerealia, the volume of wheat transactions in the launch week almost reached 20,000 tons.

During the autumn, some of the world’s leading agrifood companies launched a joint venture that will use blockchain technology to optimise logistics processes in the agricultural sector in Brazil. The business partners involved handle a total of around 550 million tonnes of cereals and oilseeds per year.