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August 10th, 2018- In This Issue:





BITCOIN PRICE ALERT! 

BITCOIN DOWN OVER 20% SINCE OUR LAST NEWSLETTER @ $6,385

What a roller coaster ride we have been on, seemingly with no end in sight. It appears the traders are happy to ride this up and down, making money all the way. 

The market has been ignoring news that in the past would have rocketed bitcoin to new all time highs, which to us makes it seem that there's a lot of manipulation going on in the crypto-currency world.

When will it stop? Who knows, but one things for sure if and when the mythical ETF ever gets approved the bears will have no choice but surrender to the massive amounts of money that will pour into this market.

Next date set from the SEC for a decision on an ETF is Sept. 30th, so let's cross our fingers, BUY THE DIPS and HODL what we have until then.

As always, buy the dips, hold on to your bitcoins for as long as you can and spread the word. Tell your friends, your relatives and anyone else who will stand around long enough to listen about Bitcoins, believe me you will be doing them a huge favor.

Visit BitvestIRA for information on using your IRA to invest in bitcoin at 20% below spot price. Or call us directly with any questions at 1-844-BIT-VEST (1-844-248-8378)


Click Here To Watch our new Infomercial 

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Tom Lee Says Bitcoin 'Isn't Broken.' 
Actual Events Prove Him Right




Despite the sharp fall in Bitcoin (BTC) last week, Tom Lee, CEO of Fundstrat, is still spreading his strong bullish sentiment. In an interview for  CNBC,  Mr. Lee commented that Bitcoin (BTC) still had enough reasons to increase its value and that in fact, in the middle of the bearish market, there are signs to show that it is clearly the king of cryptocurrencies.

According to Mr. Lee, even after the overall bearish trend, Bitcoin's dominance increased in proportion, which is a clear indicator of investors' confidence in Bitcoin's strength and its potential as a real and verifiable asset.

He also believes that although last week's news fueled a robust bearish run, the announcements may actually have attracted investors with a more strategic and long-term business plan.

"The news that we have seen, from the SEC saying bitcoin's a commodity, to ... the potential for an [exchange-traded fund] is causing investors to decide that bitcoin is the best house in a tough market"

Long-Term vs. Short-Term

It is important to note that short and long-term trading strategies are very different, even becoming contradictory at particular times. For example, a scalper can profit by shorting bitcoin while having a stronger amount of bitcoin (BTC) in a long-term bullish position. Although a market may be bearish on charts of less than 4 hours, the picture may be completely different on charts with candles expressing longer periods of time.

After a relatively sustained drop that led Bitcoin to reach values below 6k (an important resistance during 2018), Bitcoin had a steady rise of more than 2k USD approaching the 8.4k mark just a few days ago. However, following the SEC's announcement to reject the application for a Bitcoin ETF and the recent delay on another application, the crypto market experienced a sharp decline.

Tom Lee: "Bitcoin isn't Broken"

"Bitcoin isn't broken if it's holding at these levels. I think people are afraid it is going to go back down to $6,000 and never come back from those bear markets ... I think bitcoin dominance is actually showing the market is reacting to what's been taking place."

Generally, in these volatile markets, the social impact of many news can often lead to exaggerated reactions. Both FOMO and FUD are social phenomena that have become very famous in crypto-verse, especially among short-term traders.

A Green Future Coming After The 6K?

Right now, Bitcoin (BTC) has tested once again the 6k USD support, bouncing to 6.5k USD in price with a nice panorama in the short term. Next "soft" resistance is near 6.9k USD, with a stronger test zone around 7.5K USD



This Event Is About to Rock the 
Cryptocurrency Market



As you know, Bitcoin has taken a big dive this year from its peak at almost $20,000 to hovering around $7,000 a coin for some time now.

But here's what most people don't know:

A massive system upgrade to Bitcoin is expected to go live at any time...

And cryptocurrency experts believe that when it does, the price of Bitcoin will soar - potentially to $100,000 a coin, or more!

Why?

Because until now, the one BIG problem with Bitcoin has been that it's virtually useless as an actual form of money.

In its current form, payment transactions are ridiculously slow and the costs are extremely high.

But that will all change overnight when this  new "Bitcoin fix" is released.

This critical upgrade will finally make Bitcoin as easy to use as credit cards - and even cheaper than credit cards for businesses to accept.

When this becomes known, businesses all over the world will rush to accept Bitcoin.
And when the general public gets the option to buy everything from pizza to plane tickets with Bitcoin, look out - it'll create a buying frenzy the likes of which we've never seen.

The announcement of this upgrade could soon push Bitcoin way past the $20,000 per coin price it reached last December... potentially as high as $100,000 a coin.

And it's not just Bitcoin. This system upgrade could send other cryptocurrencies soaring as well.

Investors who make the right moves right now - before the announcement of this massive upgrade starts making headlines - will have the opportunity to make HUGE gains very quickly..
.
So it's critical that you view  this important message from a Bitcoin Investing Pioneer.

He will tell you exactly how you could take advantage of this coming upgrade. I have no doubt millionaires could be created from this event. Don't miss your shot at being one of them.






The market is rapidly approaching the point of acceptance for a bitcoin ETF, and the Securities and Exchange Commission (SEC) will eventually approve an ETF in the near future. This is the opinion of Fatfish Internet Group CEO, Kin-Wai Lau, speaking to CNBC last week.

According to Lau, what the market is experiencing is a "second wave rally" for bitcoin and cryptourrencies, a strong wave of demand driven by institutional investment entry and adoption. This he said, is generally a positive sign for early adopters and people with an interest in the sector. Going further, he also stated that the likelihood of the SEC approving a crypto market ETF is more a function of what organisation will successfully convince the SEC that it has the necessary tools to float an ETF.

He said:

"I think it's a matter of time before we see the SEC approve an ETF. It's just a matter of which organisation will be able to come out with comprehensive tools in terms of monitoring, surveillance, and ability to liquidity. there is a range of tools that need to be equipped, but it's also readiness of the market. We're not far away, maybe a couple of months away from the market accepting an ETF product. I think that's what the SEC will be looking at."

In Lau's opinion, boosted bitcoin demand is being driven primarily by organic demand from everyday people around the world - a pattern that he says will not change in the run-up to the end of the year.

Responding to a question about what markers investors should be on the lookout for in terms of predicting bitcoin price movements, Lau stated that adoption, and not ETFs or other 'abstract' market instruments is what will substantially impact the asset price.

In his words:

"Adoption is what is driving the demand on ground. It's being used widely in many countries and a lot of jurisdictions are starting to regulate it and approach it with a cautious but optimistic approach. That's generally a couple of factors that will affect regulatory interest. It is geared up for a rally toward year end."

CCN earlier reported that Crescent Crypto CEO Ali Hassan estimated the time frame for SEC approval for a bitcoin ETF at just about a year and a half from now.

This comes just a week after investment firm VanEck responded to the SEC's concerns over crypto ETFs in a letter published on the agency's website.



Intuit Scores Patent for Processing Bitcoin Payments With Text Messages




California-based business and financial software company Intuit has been awarded a patent for processing bitcoin payments via text message.

The patent, published by the U.S Patent and Trademark Office (USPTO) on Tuesday, details how a system of virtual accounts could enable two users to transfer funds using mobile phones. The company first filed the patent in 2014, shortly after it launched its QuickBooks Bitcoin Payments service, a bitcoin transaction processor which small businesses could use to accept bitcoin in lieu of fiat currencies.

As the application states:

"The invention relates to a method for processing payment. The method includes receiving, by a payment service from a payer mobile device of a payer, a payment text message comprising a payment amount and an identifier of a payee mobile device."

It goes on to explain that validation of a payment text message would be done in a number of different ways.

One requires sending through "a password request associated with an account of the user" in order to process payment. Another takes into account the use of voicemail as further validation by sending through "a voice phone call [that] is automatically disconnected by the payment service without answering."

Such unanswered voice calls would act as confirmation of all credible payment texts aimed at distinguishing from the potential threat of "random message or spam message sent by a machine."

The company has long been looking into improving access to bitcoin payment processors. While it launched QuickBooks in 2014, the company continued developing its payment platform, most recently partnering with payment provider Veem to enable international cryptocurrency payments.



Bitcoin's Open Secret: 
Lightning Is Making Better 
Online Payments Possible





That may have been a rallying cry for early bitcoin believers who saw the cryptocurrency as a superior form of payment, but excitement tapered off as bitcoin ran up against  technical limitations. Yet, the idea may now be coming back in vogue - apps being built on the layer-two technology  lightning network, which this year entered beta, already showcase transactions traditional payments systems just can't do.

In that way, the technology might allow the cryptocurrency to leapfrog the card networks and other payment startups using traditional rails. The application that's getting the most attention is the ridiculously small digital payments lightning makes possible for the first time.

For instance, an app  called SatoshiTweets allows users to pay a very small fee via the lightning network to send a tweet from a shared Twitter account.

After using the application,  one user tweeted:

The user noted that the punctuation cost 10 satoshis, worth a fraction of a fraction of a penny

While a paywall for tweeting might sound like a user-experience nightmare, SatoshiTweets has drawn excitement for its novelty nonetheless - primarily because these kinds of transactions are unheard of through the payments systems that have mass adoption today.

That's because sending a digital payment isn't without cost, even if it isn't always passed directly onto the user.

PayPal, for example, charges $0.05 plus a percentage fee per transaction. In other words, if you were to make a payment that small, PayPal's fees would  eat the entire transaction, making it nonsensical to execute
.
Teeny-tiny payments might not sound all that compelling (some argue  the mental costs are too high), but researchers working closely to the cryptocurrency now believe it could open up an array of new business models and maybe even enable some more sci-fi-sounding use cases.

As such, lightning's ability to make the dream of bitcoin outpacing the traditional, centralized payment giants a reality is spawning all sorts of experimentation to demonstrate how these new small payments can be applied to apps in other ways.

Lightning's leverage

First and foremost, many apps are taking advantage of the low fees allowed by the lightning network.

"With Paypal, you couldn't really send an amount as low as 1,000 satoshis - or $0.06 - because their fee is higher than that," Rui Gomes, a developer at  Lightning Spin, an online gambling app running on the lightning network, told CoinDesk.

Plus, Gomes argued, when it comes to online casinos, smaller fees are what keep the business alive, since the company can charge a small fee on every play in order to keep a consistent revenue stream.

Lightning Spin also showcases how the lightning network can enable faster payments.
With bitcoin by itself, users still had to wait for miner confirmation on their transactions and so couldn't cash out immediately. But with lightning, real-time payments are a breeze, as long as users already have a payment channel (or a connection with other peers on the network) established.

"I've built [Lightning Spin] with the sole purpose of demonstrating that it is possible to have a betting game where you can deposit and withdraw your earnings instantly," Gomes concluded.

Another advantage of using bitcoin-based payment technology is that the companies launching these applications then have more control over the development.
While Visa, for instance, offers a way for developers to integrate payments into an app, users need to register on the website, which means Visa has some level of control over who uses their system.

Speaking to this, David Knezic, who developed a lightning app that he presented at a recent "hackday," said:

"Bitcoin payments can be integrated by anyone into anything without ever having to ask for permission - unlike many other systems."



Wall Street To Give Bitcoin Another Boost




Wall Street is working on a new platform which will ease the trading, storing and spending digital assets.

That's bullish for bitcoin and other cryptocurrencies. It will help them gain acceptance among investors, merchants and consumers.

Last week, Intercontinental Exchange (ICE)  announced plans to form a new company, Bakkt, with the purpose to create an open and regulated global ecosystem for digital assets. The new company is expected to work with a marquee group of organizations that includes BCG, Microsoft, Starbucks and others to come up with an integrated platform that will ease the trading, storing and spending of digital  assets.

Traditionally volatility scares most investors no matter the asset class," says Christopher Bates, a former Member of the NYSE. "Bakkt will draw resources from reputable companies with knowledge in fields of risk management and technology to create a  federally regulated platform. Once investors feel at ease trading in a regulated environment volatility should ease."

This isn't the first time Wall Street has cozied up to digital assets. In the last two years, Wall Street has been introducing bitcoin futures to help investors hedge their positions. It has also introduced new products like the Investment Trust, which allow for broader investor participation in the Bitcoin market -- and could help the digital currency move from the "innovator" and "early adopter" stage in the Rogers Curve, to the "early majority." That's when demand for a product turns into a cascade, and the product becomes an "epidemic."

That's good news for bitcoin bulls, as an "epidemic" means higher bitcoin prices, especially since bitcoin is in limited supply, provided that big governments, big banks, and hackers do not spoil the party.



Pantera Capital CEO: Investors 'Overreacting' to ETF Delay, Should Focus on Bullish News



Pantera Capital CEO Dan Morehead claimed that crypto markets are reflecting some overreaction from investors recently, in comments to  CNBC August 8.

Speaking in an interview on CNBC's "Fast Money," Morehead suggested that investors have exaggerated the importance of the U.S. Securities and Exchange Commission ( SEC) recent  delay on their decision regarding a  Bitcoin (BTC) Exchange-Traded Fund ( ETF).
 
As per Morehead, crypto investors should instead focus on more bullish events in the market, such as the announcement of upcoming cryptocurrency project Bakkt by the Intercontinental Exchange (ICE). The ICE, which operates 23 large global exchanges including New York Stock Exchange (NYSE), is set to launch a global ecosystem for digital assets alongside Microsoft and Starbucks.

Morehead stressed that Bakkt is "huge news," arguing that the upcoming project will have a "very profound impact over the next five or 10 years for the markets."

As for the recent ETF postponement, Morehead predicted that a Bitcoin ETF approval will take "quite a long time," pointing at the nascent stage of crypto adoption. As an example, the hedge fund manager cited the fact that the most recent asset that gained approval from the SEC for ETF certification was copper, a metal that "has been on earth for 10,000 years," commenting:

"The main thing to remember is that bitcoin is very early-stage venture, but has real-time price feed - and that's a unique thing. People get excited about the price and overreact."

Morehead also mentioned that while the major cryptocurrency has experienced a negative price trend recently, it is still up around 82 percent year over year, noting that "it's all perspective."

listing and trading of a Bitcoin ETF application from investment firm VanEck and financial services company SolidX to the end of September. The price of Bitcoin  dropped on the news, dipping to as low as $6,211 after touching intraweek high of $7,560, according to  Cointelegraph's Bitcoin price index.

Today the crypto markets have  bounced back, seeing gains between 1 and 9 percent in across the top twenty coins. Bitcoin is trading just above $6,500 at press time.



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