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hey everybody it is Maddie here with altcoin buzz hope you're having a great day on this Saturday and an excellent weekend so far so we're gonna look at a few stories today we're taking a look at fun strats Tom Lee who's sick and tired of people calling him out for his previous Bitcoin price predictions as high as $25,000 oh poor baby he's being held accountable for what he said would come to pass we'll get Luke's take on that we'll also take a look at Luke's piece here about opera which has launched a cryptocurrency wallet in its Android browser we'll take a quick video which overviews that whole development and that project as well but let's begin as always on altcoin buzz IO with this piece by Li Jie pretty optimistic millions of new users entered the crypto system according to a new report we'll take a look at least his breakdown of this report it's entitled the second global crypto asset benchmarking study by Cambridge Centre for alternative finance and they've presented a comprehensive overview of the current crypto market and its developments one of the key findings is that the number of crypto users has doubled and this is kind of counterintuitive if you look at the trajectory of the market of course it's been quite dismal as 2018 has you know plotted along here but nonetheless a doubling of crypto users the report is based on the data collected from over 180 startups established companies and individuals from 47 different countries across all major regions including Europe Asia the Middle East and America between May of 2018 and July of the same year some of the participants which include among others circle coinbase bit max filled out two online surveys between May and July via secure web-based questionnaires and the findings show that in spite of the problems the crypto community is enlarging and maturing so the market explosion of 2017 has attracted numerous new users in fact millions of them have entered the ecosystem so now the number of total user accounts as service providers quote exceeds 139 million with at least 35 million identity verified users the latter growing nearly four times in 2017 and doubling again in the first three quarters of 2018 the trend also seems to be that altcoins were on the rise it is stated that the multi coins author chose to call the multi coins they've received a lot of support this year from crypto exchanges in fact it nearly doubled going from 47% of all service providers in 2017 to 84% in 2018 the author posits that the primary reason behind this is quote the emergence of common standards on some crypto asset platforms for example ERC 20 with aetherium which have resulted in a rapid increase in the supply of tokens airdrops and forks you can take a look at the rest of Lea's article here there's a lot more information she also describes what the report has to say as far as mining goes which has taken a hit as of late quite a bit of information here let us know what you think about this does it even matter whether we have a doubling of users in the crypto space what if we have a tenfold increase does that make a difference until some of the fundamentals are gotten right interesting question that I'd like to hear some of your around your responses to let me know your opinion about that but does it matter whether or not we have a doubling of our users unless it really hits a critical mass I would say we're not there yet whether it's a doubling or tripling or anything however a little bit of positive news and not really what I was respecting but the findings are the findings and data don't lie let us know what you think about that in the comments below in other news here by Luke fun strats Tom Bitcoin 225-thousand Lee is sick of people asking about price targets throw all the price predictions out the window Tom Lee the best-known Bitcoin boat on Wall Street for giving his price predictions is getting tired of forecasting short-term prices fun strats Tom Lee who has been answering questions about Bitcoin for months claimed he is growing tired of giving price targets for crypto currencies too bad exactly I totally agree so you may remember at the beginning of this year Tom Lee suggested that Bitcoin was going to be trading around $25,000 by the end of 2018 just for context we're sitting at about $3,300 US per Bitcoin at the time of this video he did change his price predictions throughout the year to be fair in July for example he said that Bitcoin was going to be worth $22,000 and in November he adjusted his prediction to $15,000 by the end of 2018 we still have two weeks to go and for it to get to 15,000 dollars is gonna mean that we need about a quintuplet of the current price just a little bit shy of a quintuplet so is it realistic to assume that bitcoin is right Luc's is going to 10,000 or more dollars in the next 17 days of December I'm not so sure about that and I think Tom Lee now is feeling the pressure he's being held to task with some of these quotes that he's made in the past so he's really tired about giving predictions poor baby and he said quote given we are so close to your end we are not providing any updates to near-term price objectives this as we are tired of people asking us about price targets yeah I bet you're tired so what's needed for the next bull market Tom Lee stated that for Bitcoin to see a price for rebound user adoption needs to increase and it needs to be embraced as a real asset class according to Lee looking at the longer term if the number of Bitcoin users approached even 7% of visas total 4.5 billion currently Lee's regression model would place fair value at about $150,000 per Bitcoin final quote by mr.
Tom Lee quote hence the risk reward is still strong given the steep discounts of Bitcoin to our fair value models the excessive bearish sentiment about fundamentals does not seem warranted I kind of feel for the guy he's backed into a corner nobody can really predict was able to predict rather how much of a hit we have taken but look if you're in the business of quantifiably making predictions I think it's fair to come under scrutiny when you're so far off the target and I mean he was far off the target he was very wrong so I do feel a little bit of sympathy you know I'm not one that's been able to make any better predictions but this is the guys job and yeah I think criticism is fair at this point let us know what you think about that in the comments below and finally from a couple of days ago article we weren't able to get to but an important development written here by Luke Opera launches cryptocurrency wallet in its Android browser good news for Android users the new version of the Opera browser with cryptocurrency wallet has been released the company announced the news at a blockchain event in London the wallet will first only support aetherium but the support for other crypto currencies is likely to be added later opera said the following about the support for aetherium quote we've decided to support a theorem as it has the largest community of developers building gaps and has gathered a lot of momentum behind it the browser also supports aetherium gaps and the web 3 API it will enable users to make transactions online and also securely store their digital within the browser itself users can get started with the cryptocurrency wallet by downloading the latest version of the Opera browser for Android after that users are ready to go so let's take a quick look at the video that was included in Luke's article here so if you're an Android user that may be something that should be on your radar you may want to check it out let us know what you think about loops points leave us your comments and let us know whether you're gonna be keen to download this browser and as always guys make sure you're following all Point buzz and altcoin buzz news you know that we're also on Facebook Instagram and telegram check out our last video here invest wisely and carefully if you choose to do so I wish you the very best of luck if that's the case and we hope to see you all again soon in our next video have a wonderful Saturday a great start to your weekend take care
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