After Monday's further depressed bitcoin prices, Tuesday brought a warmly welcomed return to gains across the cryptocurrency board. In late afternoon trading, bitcoin rallied nearly 5% to top $11,000 once again. Ethereum, ripple and bitcoin cash all gained, too. These are the top bitcoin headlines you need to know for Tuesday, Jan. 23.
Bitcoin to $55,000 This Year?
Data scientist Xoel L Lopez Barata says that bitcoin could reach $55,530 by the end of 2018, according to his new research. The same study suggests that there is only a 10% chance that bitcoin remains at its current level. The research was first reported by crypto website Bitrazzi. Barata concludes there is an 80% chance that bitcoin will end the year between $13,200 and $271,277.
Bitcoin Billionaire to Launch It Into Space
Venture capitalist Tim Draper of Draper Fisher Jurvetson is advising and investing in startups, cultivating one that wants to bring blockchain technology to space. Specifically, SpaceChain is building the world's first open-source satellite network that runs on blockchain nodes. That means the network uses satellites as blockchain sites for data processing and in-space data storage. The firm is also conducting research to enable space travel and related technology. Draper is well-known in the crypto world -- he won an $18 million U.S. Marshals auction of bitcoin in 2014 that's now worth about $330 million.
Millennials Still Hip to Crypto
TD Ameritrade Holding Corp. (AMTD) - Get TD Ameritrade Holding Corporation Report CEO Timothy Hockey said trading in cryptocurrencies has shrunk some since bitcoin valuation has fallen over the last month. "Media attention on cryptocurrency was at a frothy level, and it coincided with market highs," Hockey told TheStreet in an interview. "Once the number starts to come down a little bit, it became less frothy." Hockey said blockchain is skewed toward a younger audience which will begin investing in growing volume.
Nasdaq Considers Crypto Futures
Nasdaq CEO Adena Friedman confirmed reports that the stock exchange is looking into launching bitcoin futures, according to a report by CNBC. Friedman didn't offer a timeline or many details but did say that Nasdaq bitcoin futures would be "different from what's already out there." Currently, CME Group Inc. (CME) - Get CME Group Inc. Class A Report and Cboe Global Markets Inc. (CBOE) - Get Cboe Global Markets Inc Report offer bitcoin futures contracts. One report on Twitter (TWTR) - Get Twitter, Inc. Report suggested Nasdaq might consider multiple cryptocurrency futures markets not limited to just bitcoin.
TheStreet reached out to a Nasdaq representative for confirmation but had not heard back at the time of publication.
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