It has been a rough year for cryptocurrency enthusiasts, with the price of Bitcoin dropping 54.43% so far in 2018.
However, analysts are starting to get bullish again…
Samson Williams of Axes & Eggs believes the price of Bitcoin will reach $20,000 by Dec. 31, 2018.
"As fiat/stock markets correct, money will flee into the cryptomarket. Why? [Because] this will be the first time that such a liquid option will be available," Williams told Finder.com.
Here is a recap of the top five cryptocurrencies by market cap as of 9:30 a.m. ET
|Cryptocurrency||Market Cap||Price||Change (24h)|
|Bitcoin Cash (BCH)||$8,654,982,090||$499.32||-11.75%|
The Top Cryptocurrency Stories for Sept. 6
- Twitter Inc. (NYSE: TWTR) CEO Jack Dorsey says his social media company is exploring ways to utilize blockchain technology. Through blockchain, Twitter could potentially use blockchain solutions to verify identities and prevent scams. Dorsey is also the CEO of Square Inc. (NYSE: SQ), a financial platform that generated $34 million in revenue on Bitcoin in Q2.
Stunning: New innovation will be like "adding twin turbos to the Bitcoin engine" – and could send its price to $100,000. Learn more…
- Put a circle around Sept. 30 on your calendar. That is when the U.S. Securities and Exchange Commission has to decide whether it will approve or disapprove the VanEck SolidX Bitcoin Trust ETF. It may still take another year for a Bitcoin ETF to get approved, but when it happens, Money Morning Cryptocurrency Expert David Zeiler believes it will be a game changer.
- The fantasy football platform FanDuel is offering players a chance to win crypto. In its NFL Crypto Cup, players can enter contests to win Dash Digital Cash. Dash allows for instant, private, and secure transactions, according to its website.