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Bitcoin regains the $ 50,000 mark: doubling possible by the end of the year – 08/24/21

Bitcoin has regained the $ 50,000 mark. A bull run to $ 100,000 and more is quite realistic by the end of the year. Many altcoins will outperform this. From Gerd Weger

For the first time since May, Bitcoin was able to break the important mark of $ 50,000. In terms of charts, the picture had gradually improved over the past few weeks. The price has now risen well above the 200-day line and is approaching a Golden Cross in September. The next target is the April highs of $ 65,000. Thereafter, the $ 100,000 mark should be targeted by the end of the year. At the beginning of the week, Bitcoin, with a market capitalization of $ 940 billion, is only $ 60 billion away from the trillion mark.

The altcoin season continues. This is understood to mean phases in which many Altcoins perform better than Bitcoin. Two weeks ago, seven promising Altcoins were presented here. Last week the Qtum and Iota were discussed in more detail. Both coins have already risen by around 30 percent in the past two weeks. Bitcoin only managed a little more than ten percent in the same period.

Ontology has also grown by around 30 percent since then. Like Qtum, the coin of the project founded in 2017, which works closely with the Chinese government, is receiving a lot of attention, especially in Asia. The project is aimed at installing blockchain technology in companies without them having to make major changes to their internal systems. One focus is digital identity and data management. The blockchain solutions can be used in the Internet of Things (IoT). A large number of devices must communicate with each other, whereby it is essential that only authorized parties can access verified data. Ontology also offers solutions for digital financial applications (DeFi). In terms of charts, the coin continues to have very good potential after the increases and is about to jump over the 200-day line. Most recently, it gained increased attention when it was first listed on a Japanese crypto exchange.

Icon’s coin is also very popular in Asia. Since it was presented two weeks ago, it has increased by around 50 percent. The prospects for further price gains are good. In terms of the chart, he jumped over the 200-day line at the beginning of the week. In the past few weeks, some altcoins turned on the turbo after jumping over this line.

The Icon project aims to connect different blockchain systems. This interoperability is achieved through smart contracts. The Icon Coin is the fuel of the system, similar to ether in Ethereum. Icon is therefore also known as the South Korean Ethereum. The aim is to become an aggregator chain for various blockchains and thus a blockchain of blockchains. However, there are several competitors.

Editor’s note: Investors can now invest widely in the crypto world with the Euro Krypto Maxx certificate (ISIN DE000LS9RPE9). In addition to selected cryptocurrencies such as Bitcoin or Ethereum, the Euro Krypto Maxx also invests in the entire value chain of cryptocurrencies from mining to payment. Further details on the Euro Crypto Maxx can be found at Wikifolio.

Another disadvantage is the unlimited number of coins. New cross-chain applications are planned for the course of the year. There is already a collaboration with Polkadot. Four weeks ago, Near joined Icon’s blockchain transmission protocol, which is used to transmit blockchain information and data.

Hasan Sheikh
Hasan, who loves technology and games, is studying Computer Engineering at Delhi JNU. He has been writing technology news since 2016.


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