· April 19, 2018 · 6:30 pm
Saxo Bank Outlook: Crypto Bull Market Could Return in Q2 2018
Saxo Bank analysts have called the beginning of a new period of growth for cryptocurrency prices, eyeing Q2 2018 as a “springboard” for fresh upside.
‘Self-Fulfilling Prophecy’
In its this week, the famously pro-bitcoin institution said a mixture of global political uncertainty, tightening of credit access and commodities volatility could all see new money pouring into crypto markets.
“In addition to the possible increase in regulations leading to further declines in the short term, the continued selloff of large blocks of cryptocurrency, such as the bitcoin cache of the MtGox trustee, could result in continued selling pressure across the market,” Jacob Pouncey writes.
However, several events could serve as springboards for a cryptocurrency bull market in Q2, whether it is through fundamental drivers, or it is just a self-fulfilling prophecy.
“The end of a cycle like no other” Watch our CIO introduce the major themes of our Q2 Outlook, and dowload the full publication:
— #SaxoStrats (@SaxoStrats)
Will Van-Petersen’s $100k 2018 Price Target Come True?
Saxobank joins an increasing number of cryptocurrency industry sources who have turned increasingly price-positive in recent weeks.
, 2018 has seen at least ten bullish price predictions for bitcoin despite the largest cryptocurrency losing up to 70% of its value since December.
Out of those forecasts, Saxobank’s Kay Van-Petersen topped the bill, calling for BTC/USD to hit $100,000 by the end of this year.
Going forward, Pouncey likewise concludes that the current sideways cycle must give way to optimism.
“In my opinion, we will eventually see the end of the current, negative cryptocurrency cycle, as many of the weak hands have been shaken out by the bear market and the remaining investors are on the ready to latch onto any good news after the bad start this year,” he adds.
The Danish bank nonetheless has a history of outlandish bitcoin guesswork, previously claiming prices in 2017 but then in 2018.
As of press time Thursday, bitcoin was , climbing through $8200 to give short-term hope to traders hoping to break resistance closer to $10,000.
What do you think about Saxobank’s cryptocurrency predictions? Let us know in the comments section below!
Images courtesy of Shutterstock
Published at Thu, 19 Apr 2018 22:30:21 +0000
You might be interested in …
Islamic Financial Institution to Launch Interbank Blockchain Tools
Coinjournal Islamic Financial Institution to Launch Interbank Blockchain Tools An agreement has been signed between iFinTech Solutions, a Tunis-based fintech firm, and the Islamic Corporation for the Development of Private Sector (ICD), the private sector […]
How to Send A Lightning Transaction (Even If You May Not Want To)
How to Send A Lightning Transaction (Even If You May Not Want To) It’s like the early days of bitcoin all over again. Comprised of invite-only chat channels, alien terminology and warning signs at every […]
iEx.ec Distributed Cloud Computing Platform Announces Cryptocurrency Crowdsale
, the distributed cloud computing platform has announced the dates for its upcoming crowdsale. The platform that has been on a crusade to change the future of computing will start offering the RLC tokens during the scheduled to start on April 12, 2017, at 1300 GMT.
[Note: This is a press release]
The team behind iEx.ec has been working on a groundbreaking initiative that will allow individuals and enterprises to tap into the power of distributed cloud computing, better known as desktop grid computing. As it strives to break the dominion of academia over such facilities, the development team will fund its venture from the proceeds of the upcoming crowdsale. iEx.ec has set the crowdsale target to $2 million, which will go towards supporting the creation and launch of distributed cloud environment to meet the increasing need for computationally intense and decentralized business practices.
The iEx.ec crowdsale is open for cryptocurrency community members and investors. They can buy into the project by purchasing RLC crypto-tokens — the native currency of iEx.ec ecosystem with bitcoin or Ether. The iEx.ec team is looking forward to launching the platform sometime later this year, complete with off-chain computation and DApps capabilities.
While announcing the launch of the crowdsale and the need for a distributed cloud computing system, the CEO and Co-founder of iEx.ec, Gilles Fedak was quoted in the platform’s press release saying:
The simple truth is that centralized cloud services are falling behind current demand for computing resources. The iEx.ec team knows this through our work at the leading edge of distributed and cloud computing. With blockchain we see how a new paradigm of cloud computing is not just possible but absolutely essential, to meet the current needs of cloud SaaS, PaaS and IaaS markets, and to meet the needs of the next wave of innovation such as High Performance Computing, Artificial Intelligence, Internet of Things, Blockchain Computing and other forms of distributed business.
iEx.ec distributed cloud computing platform makes use of the powerful Ethereum blockchain and its smart contracts capabilities to manage the network. The smart contracts ensure that all participants in the network are well-compensated for their contributions in the form of rewards. It also automates payment transactions for the “give and take” of services on the network.
The team of renowned experts in the field of computing is working on making iEx.ec’s vision a reality. Creators of the open access platform include Gilles Fedak (Ph.D.) and Haiwu He (Ph.D.) known for their work on distributed computing, HPC and cloud systems design.
The platform will be free for anyone to join, with revenue models kicking in for a range of premium services availed by enterprise users. The iEx.ec platform further simplifies the smart contracting feature with ready-made contract templates that is set for release soon.
The platform already has a in place, which has been successfully demonstrated. Gilles Fedak has been presenting the platform at various international events and conferences, the latest one being BlockchainUA conference in Kiev on March 17, 2017. The next presentation will be at the Berlin Blockchain Expo scheduled for June 1 and 2, 2017.
Investors intending to be part of the blockchain-based computing revolution can find more information about the upcoming ICO . Early bird investors also stand to gain 20% bonus, making the investment an exciting affair for them.
Images courtesy of iEx.ec, Shutterstock
The post appeared first on .