Tim Draper crypto will make fiat obsolete in five years Fox Business had
a chance to talk to a renowned Bitcoin bull and a legendary venture capitalist
based in Silicon Valley Tim Draper the billionaire investor stated that he
believes investors risk their money if they let banks manage it he added that
only criminals would use fiat money in the future as Bitcoin transactions on
the blockchain can be tracked his statement reads the criminals will still
want to operate with cash because they catch everybody who is trying to use
Bitcoin when asked when people will start to use Bitcoin BTC and other
Kryptos to purchase coffee he said that we are roughly two years away from being
able to buy stuff with Bitcoin he further stated that fiat money will
become obsolete in five years Draper JPM coin will increase interest in Bitcoin
Draper also said that JPM coin recently announced by JPMorgan Chase will make
people more interested in Bitcoin not many Bitcoin knockoffs have worked
particularly well but they all add to the interest in Bitcoin Draper said the
new coin will help spark interest in Bitcoin and compared the coin to the
partnership between Apple and IBM according to the venture capital
investor JPM coin could be another bitcoin clone that does not live up to
its hype and indirectly increase interest in Bitcoin Draper also claimed
he would start shifting everything to BTC when banks start accepting Bitcoin
the JPM coin is meant to facilitate new instant transactions between the
institutions clients a service similar to ripples remittance service Bitcoin
will hit 250,000 dollars in an earlier interview Draper stated that the Bitcoin
price would rise to two hundred and fifty thousand dollars by 2022 and
provided a rationale for his allegation he said cryptocurrencies would
outperform fiat currencies in the speed of transactions in his opinion this will
increase the current global market for currencies from 86 trillion dollars to
140 trillion dollars over the next ten years returning investors could push
Bitcoin past $4,000 Fiat and Stadler coins are coming back to the BTC market
crypto markets are rising and Bitcoin BTC which constitutes more than half the
market's value is among the big winners most BTC trades have been against fiat
currencies in the Statler coin tether USD t suggesting that some investors are
beginning to move value out of say havens and into riskier digital assets
this could be a sign that confidence is returning to the market
the original cryptocurrency has been on a gradual incline since yesterday
Bitcoin traded at the $3,600 level on Sunday afternoon GMT and opened on
Monday slightly higher at 3660 dollars this trend began to accelerate just
after midday Bitcoin began the afternoon at three thousand seven hundred and
forty two dollars and within the space of two hours had climbed up by nearly
100 dollars to three thousand eight hundred and thirty three dollars Bitcoin
had reached three thousand eight hundred and forty dollars keeping it a market
cap of sixty seven point four eight billion dollars by the time of writing
Bitcoin price movements in the past day a significant amount of activity has
taken place between BTC and tether data collected by crypto compare highlight
that the largest BTC markets are those with peers to tether by Press time these
were worth a total of one point zero eight billion dollars BTC trades against
the actual US dollar have also seen significant increases more than one
hundred and five million dollars has gone through bid finances servers alone
since yesterday afternoon and more than forty six million dollars moved through
coinbase in the same time frame is this a long-term trend momentum is picking up
and if it continues Bitcoin could break past the four thousand dollars barrier
today that's a high bar to jump one which will likely push BTC even higher
but the key takeaway from today's price movement is that investors are buying
Bitcoin not with other cryptocurrencies but with fiat currencies in Stadler
coins that shows there is at least some market consensus that value would be
better served in BTC than elsewhere some of the game could be a cynical ploy to
exploit the higher prices and then reconvert when BTC starts to stagnate or
drops there hasn't been a clear reason for the price rise which suggests
trading activity could merely be based on short-term speculation in the case
market price could be detached from value and therefore unsustainable in the
long term despite recent price movements a Golden Cross is still nowhere to be
seen but other technical indicators show that confidence may be slowly returning
the MACD which places more weight on recent price trends than older ones has
moved into the green for the first time since January 6 Bitcoin MACD line over
the pass two months source trading view market
sentiment is hard to quantify much less accurately project out on a graph but
the fact remains that investors are putting money into Bitcoin with large
volumes coming from fiat currencies and stablish wines
this could highlight that investors are becoming confident again Ripple's XR
peter surpassed bitcoin by market cap believes SBI holdings president the head
of Japanese SBI Holdings strongly believes that thanks to its use cases
XRP will surpass Bitcoin in the nearest future ripples technologies are
continuing their conquering journey around the world now the news has come
from Japan where one of the ripples partners the Japanese financial giant
SBI has introduced a new initiative that is said to boost mass adoption of XRP
that is a native cryptocurrency for ripples solutions according to the
president and representative director of SBI Holdings Yoshitaka Ikeda the year of
2019 is to become an extremely important one for XRP as its market capitalization
is likely to exceed the market kappa BTC which has pretty added because XRP is
already beginning to become international x rapid will be used for
fund transfers in 2019 by increasing the so called XR pees plastic use we
anticipate that the rippled market capitalization will easily exceed the
market capitalization of Bitcoin PTC Qatar said that one of the main problems
for Bitcoin is that it still doesn't have its main use case being an active
supporter of ripple SBI has a lot of joint ventures with ripple and SBI has
already invested a number of various cryptocurrency projects including
supportive Tenjin blockchain smart card wallet producer and building of its own
crypto exchange the official launch of the new crypto exchange vc trad ii
operated by SBI holdings is scheduled for March however deposits in
withdrawals for Bitcoin XR P and the theorem are already available on the
platform Kedar also noted another reason for the potential success of XR p in
cooperation with the us-based distributed ledger technology company r3
SBI is working on the launch of SBIR free Japan the venture is going to
provide licensing and introduction support for our freeze blockchain
platform known as quarter and SBI is planning to use X RP for international
remittances on the quarter cellular platform Qatar stated you can use our
freeze quarter for international remittance but called a cellular
and xrp use this because they have high affinity that's why the swift
partnership with our 3/4 is good news that brings bright materials to the
market what I emphasize is to combine our free and ripple to make XRP fairly
practical usable it's also worth mentioning that already 50 banks in
different countries have taken a decision to use XRP via the court of
cellular platform ripple expands into the Middle East but it is not the end of
the positive news for the ripple community just recently it has become
known that ripple net is expanding further now the companies X rapid
product has been adopted by the bank of Doha based in the Sultanate of Oman the
Bank has become the first institution in the Sultanate to offer instant and
secure funds transfers via its online platform ripples leading blockchain
solutions for cross-border payments including it's bi-directional messaging
and instant settlement features enables Bank of dough fire to save customers
time when sending payments overseas using Bank Dhofar mobile banking app the
bank's announcement stated now ripple has over 200 partnership with financial
institutions including central banks and is actively working on a further
expansion of its network bullish bets on Bitcoin the world's largest
cryptocurrency by value reached 11 month highs on Monday according to the data
from the crypto currency exchange bit phonics the number of long positions on
bitcoins US dollar denominated exchange rate BTC USD jumped to 38,000 237 BTC at
410 BTC the highest level since March 30th 2018 and were last seen at 36,000
176 VDC while long positions have risen by 35% in the last three weeks short
positions have remained largely unchanged as a result the long short
ratio a barometer of market sentiment has improved to 1.5 from 1.18 the market
mood has indeed turned bullish but hasn't reached extremes as long
positions are still at least 8 percent short of the record high of 40 thousand
193 registered on March 26th 2018 that said BTC is rally to 5.5 weak hires
above $3,900 has likely opened the doors to a convincing move about $4,000 that
would only attract buyers pushing BTC USD longs to fresh record highs as of
riding BTC is changing hands at 3,900 $12 on bid phonics the highest level
since January 10th the cryptocurrency would become vulnerable to long squeeze
a sudden pullback in prices due to an unwinding of long positions if and when
the bullish sentiment reaches extremes view 1 Bitcoin has passed through the
100 day moving average for the first time in 272 days to the primary lower
high trend is yet to be challenged but the move indicates a willingness by the
Bulls to test the upper range of the ascending triangle free total growing
bullish volume on the 4-hour chart is at its highest point in over 10 days for
however price action has stalled Tuesday as indecision brings the possibility of
a pullback Bitcoin BTC has shot through established resistances for a second
time this month passing a key long term moving average before finally hitting a
point of exhaustion on the new daily open price action crossed over the 100
day moving average ma at around three thousand eight hundred and fifty dollars
late Monday night UTC backed by a larger than average increase in total growing
volume a welcome sign for the Bulls the Knights action also saw the
cryptocurrency passed three thousand nine hundred and fifty dollars briefly
before pulling back slightly the last time Bitcoin was above the 100-day ma
was back in May 22nd 2018 around nine months ago still there is a long way to
go before converting the trend from bearish to bullish as can be seen by the
lower high structure on the daily chart at Preston BTC is trading at three
thousand eight hundred and sixty dollars according to coin disks Bitcoin price
index that's up four point three six percent on the day daily chart the
upward move on Monday and early Tuesday marked a good attempt at transitioning
from the thirteen month long bare market however bullish momentum has wavered
since crossing the 100-day ma and price action has all but stalled as indecision
took over post breakout if the move also represents greater conviction on the
bullish front to test the upper trend line of the ascending triangle where the
4,000 and $75 resistance level has presented an issue since December 20th
according to coinbase data interestingly the volume bars and their respective
Peaks are beginning to even up creating a parabolic curve that could provide the
Bulls with encouragement to push to greater heights as per volume analysis
Theory four-hour chart the 4-hour chart shows significant
bullish momentum as BTC passed through prior support turned resistance at three
thousand four hundred and eighty three dollars On February 8 and then shot
through another established area of resistance at three thousand seven
hundred dollars on February 18th briefly bucking the downward trend to create an
intra month higher high market structure however as can be seen on BT C's
previous topside which there is significant drawdown potential as
exhaustion marks an opportunity for the Bears to regain control and trigger a
sell-off similar to what happened back in November 2018 it's worth watching the
total growing volume on the 4-hour chart as that is at its highest levels since
February 18 could set scope for a move toward the $5,000 psychological level
that's provided it can continue at the levels needed current or greater to
sustain any further moves higher front officially becomes number one dax
platform in the world from a theorems long-term rival in data creation and
users has now become the leading platform with respects to total DAP
users in number of active users the company's CEO Justin Sun announced this
in the post on his Twitter page today the 18th of February 2019 this
information came from data by Def review one of the leading DAP ranking websites
according to the data Tron has two hundred and sixty seven thousand total
DAP users in the past two months which is the highest followed by a US with one
hundred and ninety seven thousand in a theorem with one hundred and fifty-one
thousand users within the period Tron also had the highest number of active
users sixteen thousand two hundred and thirty
six followed by a US thirteen thousand eight hundred and forty five and a
theorem 2133 Justin son has worked very hard to come to this stage in his career
and he couldn't be more satisfied last year son had always said that Tron
primary goal was to surpass a theorem in depth and smart contracts to achieve
this son has put several things in place including acquiring BitTorrent and
launch of several projects in partnering with several major players in the
industry with so much aggressive publicity on Twitter and other channels
son has earned attention and followership which became evident when
his Twitter followers recently surpassed those of a theorem found on Vitalik
butyrin the next big move Tron will make will be to surpass a theorem smart
contract deployment even if the theorem intends to be prone again it will not be
easy as Tron already has several plans in
arsenal to wage war against its rival in 2019 the theorem will have to fight
vigorously as it is lagging behind in publicity in several other ingredients
that are responsible for tron success so far the next advantage of theorem will
have is the coming Constantinople upgrade which is scheduled to hold at
the end of February 2019 the current head price search may be due
to the upcoming upgrade and a chance for the price to surge the year is just
starting so a theorem may have another chance to reclaim its position as the
leading Dax and smart contract platform from which tron emerge
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