Official Newsletter of 1/5
New Year’s Resolution #1: Buy more Bitcoin and buy an Andreas Antonopoulos security blanket. As we enter 2019, let us take a moment to remember our fallen altcoin friends in 2018….Recently, ICO’s have been rolling out faster than Trump can tweet, but 2019 promises change. With Bitcoin 2019 price predictions from $20,000 to $200,000 and everywhere in between, let’s see what all the new hype is about before it’s too late!
(Taken on 1/5/2019 at 13:19:20 PM US East Coast Standard Time from CoinTelegraph)
What’s on the Horizon
New Year New Bitcoin?
2018 was a rough year for Bitcoin, but funding for ICO’s and Google Scholar articles mentioning Bitcoin continued to increase. With growing concerns that 2019 will realize a global economic downturn, Bitcoin price predictions range from $0 to the moon. Here’s some Bitcoin Bulls’ 2019 predictions:
Tom Lee — $25,000
Ran Neu-Ner — $50,000
Clem Chambers — $100,000
Jeremy Liew & Peter Smith — $500,000 (by 2030)
Even on the $25,000 end of things, this is still almost a 700% increase in one year. Besides the growing corporate debt bubble in the US, other executives point to sovereign government’s inability to create enough money, political uncertainty, economic uncertainty, and the overall trend towards globalization as indicators of Bitcoin/cryptocurrency’s imminent rise.
Crypto Regulation & Government
New York Cryptocurrency Task Force
Assemblyman Cyde Vanel posted on Facebook that NY was the first state to establish a crypto task force for exploration. The task force includes “technologists, consumers, investors, blockchain companies and academics” all appointed by the governor, Senate and Assembly. The task force will have to December 15th, 2020 to report their findings.
The implementation of this task force means that Bitcoin is gaining traction in federal eyes as New York state and NYC are important locations for global financial institutions, This new task force reflects US sentiment for exploring Blockchain and Crypto applications.
Epic Games’ Fortnite Starts Accepting Monero
Fortnite now has over 125 million players worldwide, mostly consisting of demographics under 30 years old, and is valued at over $15 billion USD. According to Beyond Bitcoin: The Economics of Digital Currencies, currencies existing in the same ecosystem are actively competing unless they serve different purposes. In this case, digital currencies could allow more customers to buy Fortnite’s premium products. As digital currencies continue to evolve, their applications adapt to fit the modern world’s changing needs that state currencies can’t always solve.
Bitcoin Seeks To Replace Fiat Currencies
Some enthusiasts want Bitcoin to entirely replace state currencies, but some enthusiasts seek a peaceful coexistence of the two. Whatever the end result, cryptocurrencies and fiat currencies could conceptually simultaneously exist, but they would need to find separate functions.