Bitcoin is trading around $11,000 and other major cryptocurrencies ike ethereum are also up.
There seem to be four major driving factors:
1. The bitcoin price spike was led by India. There has been a bitcoin trading of about $500 premium on the few remaining local exchanges as the government cracks down on internet services such as messaging app Telegram and news aggregator Reddit. The attempt at a crackdown has caused a surge in interest in bitcoin.
2. There is also the FOMO. (Fear of Missing Out). The surge is also a self-perpetuating speculation boom.
3. Facebook is creating the Libra cryptocurrency, a new digital wallet called Calibra, and there are many powerful companies in the Libra Foundation including Visa. This is seen as validation for Bitcoin and the other major cryptcurrencies. There is also the belief that Amazon, Alibaba and other major technology companies could follow Facebook.
4. There is a halvening event coming May 2020. The next bitcoin halvening is expected on May 22 2020 and this means the coin reward for mining new bitcoin blocks will drop from 12.5 bitcoin to 6.25 bitcoin. This will tend to reduce supply of new coins and has historically increased prices in anticipation of each halvening.
Wang is a prolific business-oriented writer of emerging and disruptive technologies. He is known for insightful articles that combine business and technical analysis that catches the attention of the general public and is also useful for those in the industries. He is the sole author and writer of nextbigfuture.com
, the top online science blog. He is also involved in angel investing and raising funds for breakthrough technology startup companies.
He gave the recent keynote presentation at Monte Jade event with a talk entitled the Future for You. He gave an annual update on molecular nanotechnology at Singularity University on nanotechnology, gave a TEDX talk on energy, and advises USC ASTE 527 (advanced space projects program). He has been interviewed for radio, professional organizations. podcasts and corporate events. He was recently interviewed by the radio program Steel on Steel on satellites and high altitude balloons that will track all movement in many parts of the USA.
He fundraises for various high impact technology companies and has worked in computer technology, insurance, healthcare and with corporate finance.
He has substantial familiarity with a broad range of breakthrough technologies like age reversal and antiaging, quantum computers, artificial intelligence, ocean tech, agtech, nuclear fission, advanced nuclear fission, space propulsion, satellites, imaging, molecular nanotechnology, biotechnology, medicine, blockchain, crypto and many other areas.