Life After $20K: Where Will Bitcoin Go After Breaking The All-Time High?
As bitcoin surpasses all-time price highs as part of an enduring rally, investors wonder what will happen next.
The post Life After $20K: Where Will Bitcoin Go After Breaking The All-Time High? appeared first on Bitcoin Magazine.
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The cryptocurrency landscape has been obsessed with the famous bull run of Winter 2017, but as bitcoin has surpassed its all-time high price of $19,655, the world of crypto may be venturing toward uncharted territory.
There are many factors that went into the mix in creating the right environment for bitcoin to surpass its highs of 2017. The COVID-19 market crash during the spring of 2020 saw BTC fall to around $5,000 momentarily before the prospect of a strong recovery drove fresh investment. Bitcoin’s movement was further bolstered later in the year by the news that PayPal would be accommodating the buying and selling of the cryptocurrency, as well as uncertainty wrought by the U.S. presidential election.
But what happens next? Bitcoin in recent weeks has recorded a sharp rise in value, gaining as much as 45.8 percent in just one month and crossing an all-time price high, per numerous exchanges. But is the rise sustainable? Or will the world’s most popular digital asset come crashing back down to earth?
Building On Market Capitalization
Significantly, bitcoin’s market capitalization has grown alongside its snowballing price tag. The market cap of bitcoin surpassed its own all-time high mark on November 17, 2020. The growth of bitcoin’s market capitalization has been so astronomical that it’s now surpassed the likes of PayPal, Netflix, Coca-Cola and Disney to sit among the top 18 largest commercial companies in the world.
The larger the market cap, the more sustainable a significant price run is likely to be. This latest boost to bitcoin’s market capitalization has been driven by significant investment from companies like Square and MicroStrategy, as well as the larger levels of accessibility that’s been provided by PayPal making the digital currency available to its 286 million-strong userbase.
In another boost to the appeal of bitcoin, the cryptocurrency’s supply is being squeezed following its halving event earlier in 2020 — this is due to less bitcoin being released as a mining subsidy per block.
Changing Investor Behavior
Following bitcoin’s 2017 rally, a significant crash occurred that the crypto market spent much of the following two years picking itself up from. However, investor behavior today appears to be different to that of 2017.
As the chart above indicates, bitcoin has become a far more popular asset for investors on the run-up toward 2020. More wallets that typically buy and hold cryptocurrencies are turning to bitcoin as a crypto safe haven, while fewer cryptocurrency wallets are involved in high magnitudes of trading.
The chart also shows that there’s a correlation between a slowing of holder accumulation and a fall in the value of bitcoin. More long-term investment should mean more stability and sustainability when it comes to growth, and as we can see, there’s no sign of long-term BTC investment slowing down right now.
The present landscape also has a significant number of high-quality and trustworthy crypto exchanges that have emerged since 2017. This has further helped to leverage growth and confidence in newer investors in a way that can help safeguard bitcoin’s long-term trajectory.
Paving The Way To The Moon
“Back in March, I predicted that BTC could reach $50,000 by end-2020 and now there is increasing evidence of that upward trend,” said Antoni Trenchev, co-founder and managing partner at crypto platform Nexo, speaking to Decrypt. “Markets like round numbers — Bitcoin passed $16,000, then $18,000 in a matter of days. The next stop is $20,000,”
“$50,000 by the end of this year is not at all unlikely,” he continued. “This will be a record not driven by frenzy, but by the big, forward-thinking, finance and technology-savvy institutions that will push crypto into the mainstream.”
Could bitcoin be heading to the moon? Some commentators are claiming that the cryptocurrency will hit highs of $300,000 within a year, fuelling speculation that this could be a key moment in bitcoin’s mainstream adoption.
According to a leaked Citibank report, a future bitcoin rally “could potentially peak in December 2021… Suggesting a move as high as $318,000.”
“Improbable though that seems it would only be a low to high rally of 102 times (the weakest rally so far in percentage terms) at a point where the arguments in favour of bitcoin could well be at their most persuasive ever,” the report, entitled “Bitcoin: 21st Century Gold,” claimed.
The Dangers Of Volatility Remain
However, investors need to be aware that although the outlook seems promising surrounding bitcoin, the world of cryptocurrencies has been punctuated by spectacular rallies before devastating losses occur.
According to Fortune’s The Ledger newsletter, “the short answer is that a collapse is all but inevitable — assets that go up 400% are due for a correction.” However, the article noted that a future fall won’t be nearly as severe as before, due to the volume of investment within the currency. The article concludes that this might mean that a future correction could leave bitcoin at around $8,000 — as opposed to $2,000 — signifying a potential area for new investors to wait for before making a purchase.
Today, bitcoin looks stronger than ever, so it’s perfectly in-character for cryptocurrency commentators to be predicting lunar launches to over $300,000 as well as crashes toward $8,000 in the same calendar year.
As the world’s most famous cryptocurrency surpasses its all-time high price, it will enter uncharted territory. But with the backing of high volumes of long-term investors and the support of huge international payments corporations, the bull run of 2020 may well put an end to the nostalgia of 2017’s millionaire-making chaos.
This is a guest post by Peter Jobes. Opinions expressed are entirely their own and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.
The post Life After $20K: Where Will Bitcoin Go After Breaking The All-Time High? appeared first on Bitcoin Magazine.
investing 20k bitcoin all-time high price cryptocurrency bitcoin crypto btc
Government
Problems After COVID-19 Vaccination More Prevalent Among Naturally Immune: Study
Problems After COVID-19 Vaccination More Prevalent Among Naturally Immune: Study
Authored by Zachary Stieber via The Epoch Times (emphasis…
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Authored by Zachary Stieber via The Epoch Times (emphasis ours),
People who recovered from COVID-19 and received a COVID-19 shot were more likely to suffer adverse reactions, researchers in Europe are reporting.
Participants in the study were more likely to experience an adverse reaction after vaccination regardless of the type of shot, with one exception, the researchers found.
Across all vaccine brands, people with prior COVID-19 were 2.6 times as likely after dose one to suffer an adverse reaction, according to the new study. Such people are commonly known as having a type of protection known as natural immunity after recovery.
People with previous COVID-19 were also 1.25 times as likely after dose 2 to experience an adverse reaction.
The findings held true across all vaccine types following dose one.
Of the female participants who received the Pfizer-BioNTech vaccine, for instance, 82 percent who had COVID-19 previously experienced an adverse reaction after their first dose, compared to 59 percent of females who did not have prior COVID-19.
The only exception to the trend was among males who received a second AstraZeneca dose. The percentage of males who suffered an adverse reaction was higher, 33 percent to 24 percent, among those without a COVID-19 history.
“Participants who had a prior SARS-CoV-2 infection (confirmed with a positive test) experienced at least one adverse reaction more often after the 1st dose compared to participants who did not have prior COVID-19. This pattern was observed in both men and women and across vaccine brands,” Florence van Hunsel, an epidemiologist with the Netherlands Pharmacovigilance Centre Lareb, and her co-authors wrote.
There were only slightly higher odds of the naturally immune suffering an adverse reaction following receipt of a Pfizer or Moderna booster, the researchers also found.
The researchers performed what’s known as a cohort event monitoring study, following 29,387 participants as they received at least one dose of a COVID-19 vaccine. The participants live in a European country such as Belgium, France, or Slovakia.
Overall, three-quarters of the participants reported at least one adverse reaction, although some were minor such as injection site pain.
Adverse reactions described as serious were reported by 0.24 percent of people who received a first or second dose and 0.26 percent for people who received a booster. Different examples of serious reactions were not listed in the study.
Participants were only specifically asked to record a range of minor adverse reactions (ADRs). They could provide details of other reactions in free text form.
“The unsolicited events were manually assessed and coded, and the seriousness was classified based on international criteria,” researchers said.
The free text answers were not provided by researchers in the paper.
“The authors note, ‘In this manuscript, the focus was not on serious ADRs and adverse events of special interest.’” Yet, in their highlights section they state, “The percentage of serious ADRs in the study is low for 1st and 2nd vaccination and booster.”
Dr. Joel Wallskog, co-chair of the group React19, which advocates for people who were injured by vaccines, told The Epoch Times: “It is intellectually dishonest to set out to study minor adverse events after COVID-19 vaccination then make conclusions about the frequency of serious adverse events. They also fail to provide the free text data.” He added that the paper showed “yet another study that is in my opinion, deficient by design.”
Ms. Hunsel did not respond to a request for comment.
She and other researchers listed limitations in the paper, including how they did not provide data broken down by country.
The paper was published by the journal Vaccine on March 6.
The study was funded by the European Medicines Agency and the Dutch government.
No authors declared conflicts of interest.
Some previous papers have also found that people with prior COVID-19 infection had more adverse events following COVID-19 vaccination, including a 2021 paper from French researchers. A U.S. study identified prior COVID-19 as a predictor of the severity of side effects.
Some other studies have determined COVID-19 vaccines confer little or no benefit to people with a history of infection, including those who had received a primary series.
The U.S. Centers for Disease Control and Prevention still recommends people who recovered from COVID-19 receive a COVID-19 vaccine, although a number of other health authorities have stopped recommending the shot for people who have prior COVID-19.
Another New Study
In another new paper, South Korean researchers outlined how they found people were more likely to report certain adverse reactions after COVID-19 vaccination than after receipt of another vaccine.
The reporting of myocarditis, a form of heart inflammation, or pericarditis, a related condition, was nearly 20 times as high among children as the reporting odds following receipt of all other vaccines, the researchers found.
The reporting odds were also much higher for multisystem inflammatory syndrome or Kawasaki disease among adolescent COVID-19 recipients.
Researchers analyzed reports made to VigiBase, which is run by the World Health Organization.
“Based on our results, close monitoring for these rare but serious inflammatory reactions after COVID-19 vaccination among adolescents until definitive causal relationship can be established,” the researchers wrote.
The study was published by the Journal of Korean Medical Science in its March edition.
Limitations include VigiBase receiving reports of problems, with some reports going unconfirmed.
Funding came from the South Korean government. One author reported receiving grants from pharmaceutical companies, including Pfizer.
Uncategorized
Key shipping company files for Chapter 11 bankruptcy
The Illinois-based general freight trucking company filed for Chapter 11 bankruptcy to reorganize.
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The U.S. trucking industry has had a difficult beginning of the year for 2024 with several logistics companies filing for bankruptcy to seek either a Chapter 7 liquidation or Chapter 11 reorganization.
The Covid-19 pandemic caused a lot of supply chain issues for logistics companies and also created a shortage of truck drivers as many left the business for other occupations. Shipping companies, in the meantime, have had extreme difficulty recruiting new drivers for thousands of unfilled jobs.
Related: Tesla rival’s filing reveals Chapter 11 bankruptcy is possible
Freight forwarder company Boateng Logistics joined a growing list of shipping companies that permanently shuttered their businesses as the firm on Feb. 22 filed for Chapter 7 bankruptcy with plans to liquidate.
The Carlsbad, Calif., logistics company filed its petition in the U.S. Bankruptcy Court for the Southern District of California listing assets up to $50,000 and and $1 million to $10 million in liabilities. Court papers said it owed millions of dollars in liabilities to trucking, logistics and factoring companies. The company filed bankruptcy before any creditors could take legal action.
Lawsuits force companies to liquidate in bankruptcy
Lawsuits, however, can force companies to file bankruptcy, which was the case for J.J. & Sons Logistics of Clint, Texas, which on Jan. 22 filed for Chapter 7 liquidation in the U.S. Bankruptcy Court for the Western District of Texas. The company filed bankruptcy four days before the scheduled start of a trial for a wrongful death lawsuit filed by the family of a former company truck driver who had died from drowning in 2016.
California-based logistics company Wise Choice Trans Corp. shut down operations and filed for Chapter 7 liquidation on Jan. 4 in the U.S. Bankruptcy Court for the Northern District of California, listing $1 million to $10 million in assets and liabilities.
The Hayward, Calif., third-party logistics company, founded in 2009, provided final mile, less-than-truckload and full truckload services, as well as warehouse and fulfillment services in the San Francisco Bay Area.
The Chapter 7 filing also implemented an automatic stay against all legal proceedings, as the company listed its involvement in four legal actions that were ongoing or concluded. Court papers reportedly did not list amounts for damages.
In some cases, debtors don't have to take a drastic action, such as a liquidation, and can instead file a Chapter 11 reorganization.
Shutterstock
Nationwide Cargo seeks to reorganize its business
Nationwide Cargo Inc., a general freight trucking company that also hauls fresh produce and meat, filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the Northern District of Illinois with plans to reorganize its business.
The East Dundee, Ill., shipping company listed $1 million to $10 million in assets and $10 million to $50 million in liabilities in its petition and said funds will not be available to pay unsecured creditors. The company operates with 183 trucks and 171 drivers, FreightWaves reported.
Nationwide Cargo's three largest secured creditors in the petition were Equify Financial LLC (owed about $3.5 million,) Commercial Credit Group (owed about $1.8 million) and Continental Bank NA (owed about $676,000.)
The shipping company reported gross revenue of about $34 million in 2022 and about $40 million in 2023. From Jan. 1 until its petition date, the company generated $9.3 million in gross revenue.
Related: Veteran fund manager picks favorite stocks for 2024
bankruptcy pandemic covid-19 stocksUncategorized
Key shipping company files Chapter 11 bankruptcy
The Illinois-based general freight trucking company filed for Chapter 11 bankruptcy to reorganize.
Share this:
The U.S. trucking industry has had a difficult beginning of the year for 2024 with several logistics companies filing for bankruptcy to seek either a Chapter 7 liquidation or Chapter 11 reorganization.
The Covid-19 pandemic caused a lot of supply chain issues for logistics companies and also created a shortage of truck drivers as many left the business for other occupations. Shipping companies, in the meantime, have had extreme difficulty recruiting new drivers for thousands of unfilled jobs.
Related: Tesla rival’s filing reveals Chapter 11 bankruptcy is possible
Freight forwarder company Boateng Logistics joined a growing list of shipping companies that permanently shuttered their businesses as the firm on Feb. 22 filed for Chapter 7 bankruptcy with plans to liquidate.
The Carlsbad, Calif., logistics company filed its petition in the U.S. Bankruptcy Court for the Southern District of California listing assets up to $50,000 and and $1 million to $10 million in liabilities. Court papers said it owed millions of dollars in liabilities to trucking, logistics and factoring companies. The company filed bankruptcy before any creditors could take legal action.
Lawsuits force companies to liquidate in bankruptcy
Lawsuits, however, can force companies to file bankruptcy, which was the case for J.J. & Sons Logistics of Clint, Texas, which on Jan. 22 filed for Chapter 7 liquidation in the U.S. Bankruptcy Court for the Western District of Texas. The company filed bankruptcy four days before the scheduled start of a trial for a wrongful death lawsuit filed by the family of a former company truck driver who had died from drowning in 2016.
California-based logistics company Wise Choice Trans Corp. shut down operations and filed for Chapter 7 liquidation on Jan. 4 in the U.S. Bankruptcy Court for the Northern District of California, listing $1 million to $10 million in assets and liabilities.
The Hayward, Calif., third-party logistics company, founded in 2009, provided final mile, less-than-truckload and full truckload services, as well as warehouse and fulfillment services in the San Francisco Bay Area.
The Chapter 7 filing also implemented an automatic stay against all legal proceedings, as the company listed its involvement in four legal actions that were ongoing or concluded. Court papers reportedly did not list amounts for damages.
In some cases, debtors don't have to take a drastic action, such as a liquidation, and can instead file a Chapter 11 reorganization.
Shutterstock
Nationwide Cargo seeks to reorganize its business
Nationwide Cargo Inc., a general freight trucking company that also hauls fresh produce and meat, filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the Northern District of Illinois with plans to reorganize its business.
The East Dundee, Ill., shipping company listed $1 million to $10 million in assets and $10 million to $50 million in liabilities in its petition and said funds will not be available to pay unsecured creditors. The company operates with 183 trucks and 171 drivers, FreightWaves reported.
Nationwide Cargo's three largest secured creditors in the petition were Equify Financial LLC (owed about $3.5 million,) Commercial Credit Group (owed about $1.8 million) and Continental Bank NA (owed about $676,000.)
The shipping company reported gross revenue of about $34 million in 2022 and about $40 million in 2023. From Jan. 1 until its petition date, the company generated $9.3 million in gross revenue.
Related: Veteran fund manager picks favorite stocks for 2024
bankruptcy pandemic covid-19 stocks
Key shipping company files for Chapter 11 bankruptcy
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