Positive news about BTCBitcoin Price Prediction 2018: Can cryptocurrency hit $50,000 this year? -Bitcoin News Today – Sun Apr 1Can Bitcoin hit $ 50,000 this year? While most of the cryptocurrencies are much below their earlier highs but there are newer and newer predictions coming up for cryptocurrencies. One such prediction is that Bitcoin can rise to as high as $ 50,000 in the calendar year 2018.
A cryptocurrency portfolio manager by the name of Jeet Singh, stated at World Economic Forum in Davos, that the current volatility is completely normal when it comes to the cryptocurrencies space. He also stated that it is normal for cryptocurrencies to fluctuate by 70% to 80%. This is one of the main reasons why the current volatility does not worry him at all.
He compared cryptocurrencies to the current bellwether companies like
Microsoft as well as Apple. Initially,
their stocks were also pretty volatile. However, as the companies develop their business model, the stocks not only rose but they become much more stable as well.
However, many of the investors are actually currently worried due to the high volatility in cryptocurrencies. According to him, however, long-term investors need not fear the volatility at all. Since they are here to stay for a longer period of time, they would have no problem at all in holding the cryptocurrencies for a longer period of time as well.
He further added that Bitcoin would reach as high as $ 50,000 this year. If indeed that happens, the current price of Bitcoin being around just $ 10,000, that would be a fivefold increase once again.
Whether the portfolio manager is right or wrong, only time would be able to tell. The truth is that currently, many of the investors are worried about putting new money into Bitcoins. Only once they are sure that the volatility would end and the Bitcoin resumes its uptrend you can be sure that most of the investors would actually get ready to invest in this cryptocurrency.
For now, however, most of the investors are keeping away from the cryptocurrency boom. Many of the investors are just holding their holdings patiently in order to find out whether the cryptocurrencies resume their uptrend or not. It is still too uncertain for most of the investors to take a call. On the other hand, institutions are increasing their presence in the cryptocurrencies pace as well which is sure to benefit the cryptocurrencies space and would add value and credibility to the cryptocurrencies in the future as well. This is one of the main reasons why it is not seeing further fall after creating a bottom few weeks back. Also, once the regulatory hurdles are sorted, you can be sure that the value of cryptocurrencies would again more.
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Surely, Bitcoin is headed up – John McAfeeJohn McAfee, Bitcoin supporter and founder of the popular McAfee antivirus software, is being very positive about Bitcoin. He predicted that Bitcoin price will hit $1 million by 2020 following last year’s prediction of $7000 which was well surpassed.
Bitcoin Price Prediction Tracker portal, Bircoin.top, did the maths and explain that Bitcoin needs to grow daily at 0.4840957034310259% per day.to meet McAfee’s prediction. Currently, Bitcoin is around $ 8,207 compared to $ 7,171. Cool right? However, to hit McAfee’s target, BTC would end the year just over $29k.
“BTC has accelerated much faster than my model assumptions. I now predict Bitcoin at $1 million by the end of 2020. I will still eat my d**k if wrong” – John McAfee
Apart from the economics behind the limited supply of Bitcoin, his prediction considered the factors like the increased adoption of Bitcoin and blockchain as well as a total cryptocurrency’s market cap around $162 billion which gives large room for growth.
“I think Bitcoin will be worth a tiny fraction of what it is now if we’re headed out 10 years from now…I would see $100 as being a lot more likely than $100,000.” – Kenneth Rogoff
Rogoff’s prediction is based on his long-held belief that governments will rise against anonymous virtual currencies like Bitcoin. Government regulations, according to Rogoff, will pop the Bitcoin bubble but a Bitcoin pioneer on Wall Street thinks along very different lines.
“We expect bitcoin’s major low to be $9,000, and we would be aggressive buyers around that level,” – Tom Lee
Though Bitcoin went below Lee’s base of $9,000 (nearing $6,000), it has bounced out reaching in March $11,000. It will take a ride similar to the one we witnessed last year for Bitcoin to reach this mark. To make this happen, Lee is counting on more institutional investors taking on Bitcoin and a steady increase in Bitcoin user base. Lee’s target may be half the mark according to fellow crypto-believer.
Volatile Bitcoin to touch $50,000 – Jeet Singh (cryptocurrency portfolio manager)Speaking in January at the World Economic Forum in Davos, experienced cryptocurrency fund manager, Jeet Singh predicted that the price of Bitcoin will go as high as $50,000. He warned of heavy price fluctuations which he believes is only normal for a Bitcoin market that is still maturing.
Bitcoin could definitely see $50,000 in 2018…We will probably go through a suffering period of volatility around the time of Bitcoin’s next $10,000 landmark.” – Jeet Singh
Just like Lee, Singh expects Bitcoin to be adopted not just in the black market but by institutions and entire countries. If 50k seems too optimistic, how about 100k from the “Nostradamus of Markets”?
Bitcoin is the future; Fiat is Past – (Tim Draper, Venture Capitalist)In 2014 with bitcoin at only $413, popular VC, Tim Draper predicted bitcoin to reach $10,000 in three years. This was fulfilled a month earlier than he predicated earning him a reputation among crypto fans. Though he didn’t categorically, predict a $100k Bitcoin in 2018, He said he expected the Bitcoin to continue its growth in an interview with Bloomberg last year. Tim Draper has made successful bets with Tesla, Skype, and Twitter in the past.
Assuming this growth happens at the same pace as the 3-year journey to $10k then we’re in for six digits. Maniacal right? That’s exactly how Draper feels about Bitcoin prospects. Now onto someone who understands a lot about bitcoin’s foundation.
Bitcoin will hit $ 40,000 – Llew Claasen (Executive Director, Bitcoin Foundation)Last month, Llew Classen made a bold statement to reassure Bitcoin believers that the cryptocurrency is on the right track –specifically, on track to reach the $40,000 mark. Though his outlook for some altcoin holders was not very encouraging, he made it clear that as something new, cryptocurrency will be as risky as it is exciting.
Bitcoin to pass $43K by December 2018 – (Survey by Finder.com)Finder.com sought opinions of 13 cryptocurrency experts and concluded that Bitcoin price will witness a 300% growth to land at $43,000 by the end of the year. The site also predicted Bitcoin at over $14K by March 1.
“While we saw the top 10 coins dive by 24 percent last month, our survey shows panelists are expecting this to be a bump in the road as these coins are set to recover.” – Jon Ostler, UK CEO, finder.com
Ostler noted that the predictions were not cast in stone as they can easily be swayed by “outside factors such as regulations, laws, and banking systems”
Bitcoin Will hit $320,000 someday – Cameron Winklevoss (co-founder, Gemini)One of the popular Winkelvoss twins, Cameron Winklevoss recently said that he could easily see the price of BTC go up 40% someday. This year maybe? Not likely. The twin said he and his brother were taking longer outlook, 10 to 20 years.
“Bitcoin is actually fixed in supply so it’s better than scarce … it sort of equals a better gold across the board. We think regardless of the price moves in the last few weeks, it’s still a very underappreciated asset.” – Winklevoss
The fourth wealthiest cryptocurrency investor weighed bitcoin’s prospect against gold and came up with a resounding verdict.
“We believe bitcoin disrupts gold,” He said.
Bitcoin will reach $1million – Bobby Lee (CEO BTCC Exchange)Bobby Lee, CEO of China’s first Bitcoin exchange speaking at the London Blockchain Week went overboard with his prediction. Lee said bitcoin will surpass $1 million but unlike McAfee, he could see this happen in 20 years’ time.
“Bitcoin, I think will get to $1 million per bitcoin…Right now it’s 10,000, it will go 100,000 and then 200,000, 500,000.” – Bobby Lee
IN SUMMARYA good number of analysts have also had their say though very few would be drawn into actual predictions. We observed a general trend in their assessments.
I too believe that bitcoin will hit $50,000.00 by the end of 2018.
Expect Price Fluctuations:At this stage, bitcoin and cryptocurrencies will be greatly affected by speculations. Even small developments in governments, traditional will likely affect prices. Most say the fluctuations are normal and wouldn’t affect the longer term outlook.
SourceBe Positive
Looking Ahead to $20,000 BitcoinIn last week’s Investor Alert, our investment team shared with you a report from Morgan Stanley that says bitcoin’s price decline since December mimics the Nasdaq tech bubble in the late 1990s. This isn’t earth-shattering news in and of itself. The main difference is that the bitcoin rout happened at 15 times the rate as the tech bubble.
Morgan Stanley has some good news for bitcoin bulls, however: The 70 percent decline is “nothing out of the ordinary,” and what’s more, such corrections “have historically preceded rallies.” Just as the Nasdaq gained back much of what it lost in the subsequent years—before the financial crisis pared losses even further—
bitcoin could similarly be ready to stage a strong recovery.One research firm, in fact, believes bitcoin and other digital coins, or “alt-coins,” have likely found a bottom. New York-based Fundstrat, headed by strategist Thomas Lee, issued a statement to investors last week saying that, though a cryptocurrency bull market isn’t necessarily underway, the worst of the pain could be “largely over.”
Take the Long-Term ViewIt’s helpful to compare bitcoin with Nasdaq, as Morgan Stanley did, but what about comparing the current cycle with one from the past?
In June 2011, bitcoin peaked at nearly $30 and found a bottom of $2.02 five months later, in November. It would be an additional 15 months before it returned to its former high. This might seem like a long time to some, but investors who managed to get in at the bottom would have seen their position grow more than 1,300 percent.
But I remain bullish. Cryptocurrencies are still in their very early stages. To return to the comparison with tech stocks, we don’t know at this point which digital coins will be tomorrow’s equivalent of Amazon, Google, Apple and Facebook. A long-term view is key.
Finally, I still believe in the power of Metcalfe’s law, which says that as more and more people adopt a new technology—cell phones, for instance, or Facebook—its value goes up geometrically. A poll conducted in February shows that just under 8 percent of American adults report ever owning or purchasing any cryptocurrencies.
Market penetration, then, hasn’t been as pervasive as some might expect, but as people increasingly become more confident in dipping their toes in the space, demand could rise and, with it, prices.SourceBe Positive
Newegg Expands Its Bitcoin Payment Option to Canadian CustomersMajor computer hardware e-commerce site Newegg is now allowing Canadian customers to pay for products with bitcoin. Newegg primarily sells computer parts and consumer electronics. The majority of Neweggs’ customers are located in the United States, which has been the only group eligible to pay with Bitcoin until now. They started accepting payments in bitcoin for US customers in August 2014. Newegg has over 36 million registered users.
The company cites ‘increasing mainstream awareness of cryptocurrencies’ as the reason for the expansion of the payment option to Canada. Newegg’s CEO Danny Lee made comments about the development:
“IN 2014 NEWEGG WAS AMONG THE FIRST MAJOR COMPANIES TO OFFER CUSTOMERS A BITCOIN PAYMENT OPTION. SINCE THAT TIME THE VALUE OF BITCOIN HAS SKYROCKETED AND CUSTOMERS HOLDING BITCOIN HAVE CONSIDERABLY MORE PURCHASING POWER. WE BELIEVE THAT THE TIME IS RIGHT TO BROADEN OUR ACCEPTANCE OF BITCOIN TO CUSTOMERS IN CANADA.”Newegg uses a third-party payment processor, BitPay, to convert coins into fiat at the time of transaction. BitPay receives a small commission fee for this service. BitPay’s CEO Stephen Pair also commented on the news, saying “We’re seeing a lot of traction in Canada, and we’re happy to see Newegg extend its bitcoin payment option north of the border.” Newegg uses BitPay’s API for creation and management of invoices, bills, refunds, and other services. They have praised BitPay for its excellent service and noted that they have provided ‘unrivaled reliability in the industry.’
The news comes as other online services have recently stopped accepting bitcoin as payment due to rising transaction fees, most notably Reddit and Stripe. Increased usage of the Bitcoin network leads to increased transaction fees. Moving forward, it will be interesting to see whether Newegg and other online retailers begin to accept cryptocurrencies besides bitcoin as payment.
SourceBe Positive
List of the biggest & smaller names who accepts BTC as a currency. 1. KFC Canada
2. Overstock.com – A company that sells big ticket items at lower prices due to overstocking
3. Playboy
4. Subway – Eat fresh
5. Microsoft – Users can buy content with Bitcoin on Xbox and Windows store
6. Reddit – You can buy premium features there with bitcoins
7. Virgin Galactic – Richard Branson company that includes Virgin Mobile and Virgin Airline
8. OkCupid – Online dating site
9. Namecheap – Domain name registrar
10. CheapAir.com – Travel booking site for airline tickets, car rentals, hotels
11. Expedia.com – Online travel booking agency
12. Gyft – Buy giftcards using Bitcoin
13. Newegg.com – Online electronics retailer now uses bitpay to accept bitcoin as payment
14. Wikipedia – The Free Encyclopedia with 4 570 000+ article
15. Alza – Largest Czech online retailer
16. The Internet Archive – web documatation company
17. Bitcoin.Travel – a travel site that provides accommodation, apartments, attractions, bars, and beauty salons around the world
18. Pembury Tavern – A pub in London, England
19. Old Fitzroy – A pub in Sydney, Australia
20. The Pink Cow – A diner in Tokyo, Japan
21. The Pirate Bay – BitTorrent directories
22. Zynga – Mobile gaming
23. 4Chan.org – For premium services
24. EZTV – Torrents TV shows provider
25. Mega.co.nz – The new venture started by the former owner of
26. MegaUpload Kim Dotcom
27. Lumfile – Free cloud base file server – pay for premium services
28. Etsy Vendors – 93 of them
29. PizzaForCoins.com – Domino’s Pizza signed up – pay for their pizza with bitcons
30. Whole Foods – Organic food store (by purchasing gift card from Gyft)
31. Bitcoincoffee.com – Buy your favorite coffee online
32. Grass Hill Alpacas – A local farm in Haydenville, MA
33. Jeffersons Store – A street wear clothing store in Bergenfield, N.J
34. Helen’s Pizza – Jersey City, N.J., you can get a slice of pizza for 0.00339 bitcoin by pointing your phone at a sign next to the cash register
35. A Class Limousine – Pick you up and drop you off at Newark (N.J.) Airport Seoclerks.com – Get
36. SEO work done on your site cheap
37. Mint.com – Mint pulls all your financial accounts into one place. Set a budget, track your goals and do more
38. Fancy.com – Discover amazing stuff, collect the things you love, buy it all in one place (Source: Fancy)
39. Bloomberg.com – Online newspaper
40. Humblebundle.com – Indie game site
41. BigFishGames.com – Games for PC, Mac and Smartphones (iPhone, Android, Windows)
42. Suntimes.com – Chicago based online newspaper
43. San Jose Earthquakes – San Jose California Professional Soccer Team (MLS)
44. Crowdtilt.com – The fastest and easiest way to pool funds with family and friends (Source: crowdtilt)
45. Lumfile – Server company that offers free cloud-based servers
46. Museum of the Coastal Bend – 2200 East Red River Street, Victoria, Texas 77901, USA
47. Gap, GameStop and JC Penney – have to use eGifter.com
48. Etsy Vendors – Original art and Jewelry creations
49. Fight for the Future – Leading organization finding for Internet freedom
50. i-Pmart (ipmart.com.my) – A Malaysian online mobile phone and electronic parts retailer
51. curryupnow.com – A total of 12 restaurants on the list of restaurants accept bitcoins in San Francisco Bay Area
52. Dish Network – An American direct-broadcast satellite service provider
53. The Libertarian Party – United States political party
54. Yacht-base.com – Croatian yacht charter company
55. Euro Pacific – A major precious metal dealer
56. CEX – The trade-in chain has a shop in Glasgow, Scotland that accepts bitcoin
57. Straub Auto Repairs – 477 Warburton Ave, Hastings-on-Hudson, NY 10706 – (914) 478-1177
58. PSP Mollie – Dutch Payment Service
59. Intuit – an American software company that develops financial and tax preparation software and related services for small businesses, accountants and individuals.
60. ShopJoy – An Australian online retailer that sells novelty and unique gifts
61. Lv.net – Las Vegas high speed internet services
62. ExpressVPN.com – High speed, ultra secure VPN network
63. Grooveshark – Online music streaming service based in the United States Braintree – Well known payments processor
64. MIT Coop Store – Massachusetts Institute of Technology student bookstore
65. SimplePay – Nigeria’s most popular web and mobile-based wallet service
66. SFU bookstore – Simon Fraser University in Vancouver, Canada
67. State Republican Party – First State Republican Party to accept bitcoin donations (
http://www.lagop.com/bitcoin-donate)
68. mspinc.com – Respiratory medical equipment supplies store
69. Shopify.com – An online store that allows anyone to sell their products
70. Famsa – Mexico’s biggest retailer
71. Naughty America – Adult entertainment provider
72. Mexico’s Universidad de las Américas Puebla – A major university in Mexico
73. LOT Polish Airlines – A worldwide airline based in Poland
74. MovieTickets.com – Online movie ticket exchange/retailer
75. Dream Lover – Online relationship service
76. Lionsgate Films – The production studio behind titles such as The Hunger Games and The Day After Tomorrow
77. Rakutan – A Japanese e-commerce giant
78. Badoo – Online dating network
79. RE/MAX London – UK-based franchisee of the global real estate network
80. T-Mobile Poland – T-Mobile’s Poland-based mobile phone top-up company
81. Stripe – San Francisco-based payments company
82. WebJet – Online travel agency
83. Green Man Gaming – Popular digital game reseller
84. Save the Children – Global charity organization
85. NCR Silver – Point of sales systems
86. One Shot Hotels – Spanish hotel chain
87. Coupa Café in Palo Alto
88. PureVPN – VPN provider
89. That’s my face – create action figures
90. Foodler – North American restaurant delivery company
91. Amagi Metals – Precious metal furnisher
Source92. Metrodeal & CashCashPinoy
93. TrueProperty
94. The Bunny Baker
95. Wirin Cupcakery
96. Mr. D’s Artisanal Sundries
97. Baicapture
98. Import Valley
99. Cyan Adventures Cebu
100. Canyoneering tours in Cebu
SourceI have faith with these Giants:101. McDonalds
102. British Airways
102. Amazon
SourceIf you have more, feel free to add. Be Positive
BTC loss booked before March 31 can save you capital gains tax this fiscal.Here's how:Had there been a practice of naming a "financial year", then FY18 would have been christened as the year of cryptocurrencies. In just a couple of month, these virtual currencies had risen from its status of charcoal to diamonds and back to black dust. All the windfall gains earned by investors from cryptocurrencies in the second and third quarters of FY18 have been eroded in the fourth quarter. The most popular cryptocurrency, bitcoin, grew more than 1,000 times in 2017 itself. However, in 2018 prices have crashed. Currently, it is trading at below $8,000 per bitcoin from its highs of $19,783.
Despite several admonishments by various entities like the government, central bank and financial institutions, bitcoins has remained as one of the most popular speculative investments in India. With the fond hope of another bounce back in the price of bitcoins, many investors are still holding on to them, while many others have already booked losses.
Investors with short-term capital gains on equity can look at booking losses from sale of cryptocurencies (if deemed as short-term capital assets) before March 31, 2018 and setting of the latter against the former. This would help them save tax on short-term capital gains on listed equity.
But how do you classify a cryptocurrency when it comes to income tax laws? How do you treat the losses you have made on them?
Capital asset or business asset? There is no specific provision in the Income-tax Act, 1961 about the taxability of cryptocurrencies. However, keeping in view the general provisions of the Income-tax Act, cryptocurrencies could be deemed as capital assets if they are held as an investment by the taxpayer.
Therefore, any gain arising from it should be taxable as capital gains. If a cryptocurrency is held for more than 36 months from the date of purchase, it will be considered as long-term capital asset. And if held for less than 36 months, it will termed as a short-term capital asset.
On the contrary, if transactions in bitcoins are substantial and frequent, it could be held that the taxpayer is trading in cryptocurrencies and the resultant profits would be taxable as business income.
With the same analogy, losses arising from the transfer of cryptocurrencies shall be deemed as capital losses or business losses. The Income-tax Act allows adjustment of losses incurred by a taxpayer against other taxable incomes subject to some restrictions.
Speculative or non-speculative business? The Income-tax Act categorizes a business into 'speculative' or 'non-speculative'. Business losses can be set-off against any other income of the taxpayer, while speculative business loss can only be set-off against other speculative business income. In other words, if trading in cryptocurrencies is treated as a speculative transaction, then losses in one cryptocurrency (say, bitcoin) can be set off only against other speculative income or gains from other cryptocurrencies (say, ripple or ethereum).
Section 43(5) of I-T Act provides that a transaction shall be deemed as 'speculative' if it is not followed by an actual delivery. In cryptocurrency trading, the buyers actually get the delivery of underlying cryptocurrency into their wallets. Therefore, these transactions should not be deemed as 'speculative'.
Set-off and carry forward? The Income-tax Act allows 'set offing' of losses against profit. Losses are first set-off against income under the same head (intra-head adjustment) and if any loss remains after such a set off, it will be done so against income from another head (inter-head adjustment). In other words, before making an inter-head adjustment, the taxpayer has to first make an intra-head adjustment.
If a person is unable to set off his losses in the current year due to inadequacy of profits, he can carry forward the losses to a subsequent year to it set-off against future income. All losses can be carried forward for eight years from the year in which such losses arise. However, losses from speculative business can be carried forward only for four years. Further, it is mandatory to file return of income within the due date to carry forward the losses to subsequent years.
The rule of adjustment of losses against profits has followings exceptions in respect of capital gains and business profits:
A. Long-term capital losses can be adjusted only against long-term capital gains. However, short-term capital losses can be adjusted against both short-term capital gains and long-term capital gains.
B. Losses from speculative business can be set-off only against speculative income
C. Business losses can be adjusted against any head of income except salary income.
D. Capital losses can be adjusted only against capital gains. However, losses under any other head can be set-off against capital gains.
If cryptocurrencies are treated as business assets, losses incurred therefrom can be adjusted against any other income including capital gains (both, short-term and long-term) except salary. In contrast, if they are treated as capital assets, the resultant long-term capital loss can be adjusted only against other long-term capital gains. If the resultant capital loss is short-term, which would be so in most of the cases, it can be adjusted against any capital gains, long-term or short-term. In fact, short-term capital loss from cryptocurrencies can be adjusted against short-term capital gains arising from trading in listed securities. Further, short term capital losses from crypto currencies can also be set off against any capital gains (long term or short term) from immovable property or jewellery etc.
Illustration: Mr. A purchased one bitcoin in Rs 8,00,000 in August 2017 and sold the same in February 2018 for Rs 4,50,000. How this loss shall be treated in the Income-tax Act is illustrated below in four difference scenarios: 
Source:
Bitcoin Discussion: Save you capital gains tax,Here's how Be Positive Im hoping this news i read a lot about pumping of coins up to 50k$ and more this year. Thats why i start investing more bitcoin to make a lot of profit.
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