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December 15th, 2017- In This Issue:

Bitcoin Price Alert! Bitcoin @ $17,730

Bitcoin hasn't made a new high in days, could this be the end of bitcoin as we know it? 

All kidding aside, it does seem a bit boring now that all the fan fair about record prices has subsided, sure was fun while it lasted. 

Heading into the holidays we expect the market to trade sideways as the price consolidates while waiting for the next big news story to break.

Here are some big name's predictions for bitcoin that we thought we'd share.

This will be the last Roundup before the Holidays but we are still available to all our clients with any questions you may have. 

We wish you all a very Happy Holiday, Merry Christmas, Happy Chanukah, or Fabulous Festivus!! Whichever fits best. :-)

As always, 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, and if they don't listen you can always tell them "I told you so"

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)

Saxo Bank's Van-Petersen: Bitcoin Price At $100k By 2019 Is 'Prudent'

Saxo Bank global macro strategist and famous Bitcoin bull Kay Van-Petersen has said Bitcoin prices will hit "$50,000 - $100,000 within the next six to 18 months."

Speaking to  Bloomberg in a short interview, Van-Petersen explained that the influx of institutional money would be the "catalyst" in pushing Bitcoin prices even further.

"We'll get a cascade of ETFs, mutual funds and other investment vehicles breaking out," he forecast, describing the $100,000 price tag as a "prudent" prediction.

Not just Bitcoin, but other cryptocurrencies could "do better" in terms of price growth from the same phenomenon, the analyst continued, highlighting Ethereum as a possible next contender specifically for ETFs.

"The astonishing thing - mindblowing if you will - is that you take a step back and look at the price appreciation... a lot of this has happened without traditional institutional money, and that's basically going to be coming on board over the next six to 18 months," Van-Petersen continued.

As Bitcoin continues to go well beyond any analyst's expectations for short-term growth, even the most hardline proponents are being  left to wonder what could be next.

Even Van-Petersen's own prediction of a  $100,000 Bitcoin within 10 years, which he delivered in May, now seems less surprising.

Bitcoin prices have  recovered since CBOE's futures successfully launched, with exchanges currently eyeing $17,000 per coin after a drop below $13,000 over the weekend.

Bitcoin Price Will Hit $1 Million, Says Social Capital Founder

Chamath Palihapitiya, founder of Social Capital and co-owner of the Golden State Warriors, voiced his opinion on the value and potential growth of Bitcoin in an interview on CNBC on Tuesday..

The business leader, who first invested in Bitcoin in 2012, indicated that he sees the price of Bitcoin rising massively in the next 20 years as adoption continues to grow.
His analysis echoes  other commentators and investors who have seen the potential for Bitcoin's price to reach levels close to $1 mln. Palihapitiya explains his prediction as based on the evaluation of Bitcoin as a  store of value comparable to  gold. He said:

"This thing has the potential to be comparable to the value of gold...This is a fantastic hedge and store of value against autocratic regimes and banking infrastructure that we know is corrosive to how the world needs to work properly...I think this thing is a $100,000 a coin in the next 3-4 years, and in the next 20 years will be $1 mln."

Bitcoin as a hedge against banks
The main argument, according to Palihapitiya, is that Bitcoin presents a hedge against potentially massive problems being caused by the  current banking infrastructure.

Should the banking structure  fail  Bitcoin is "fundamentally disconnected" from the current platform. His final advice? Put at least one percent of what you invest into Bitcoin -- it "may actually save us all"

Is it Ever Too Late to Buy Bitcoin? $100 
Then and Now

One of the reasons that Bitcoin is capturing the hearts and minds of individuals is the stories of instant millionaires who have made their fortune from  being an early adopter. People who were mining the coin or accumulating it by the hundred, and were smart enough to hold onto it today are experiencing unprecedented profit.

With the monumental price gain, however, people are starting to wonder where the ceiling is, and if it is not fast approaching. To this end, there is a section of the population who are wondering: 'is it too late to get into Bitcoin?'

However, this is not a new question, it is a question that was asked when Bitcoin was at $10,  $100, $1,000 all the way up to over $17,000 where it sits today.

There is, of course, no doubting that those who were really early to the party are the biggest profiteers, and for envy's sake, it is worth looking at what has been achieved in just seven years.

What would $100 of Bitcoin be worth today?

Had you put $100  into  Bitcoin starting back in 2010 , and going through the years, you would have made massive profits along the way.
July 28, 2010: 
$100 back in 2010 - baring in mind this is a full two years after Satoshi Nakamoto put out his whitepaper on Bitcoin - would net you at today's value a whopping $28,341,266. One Bitcoin back then was worth just $0.06
Dec. 12, 2011:
Within 18 months, there would have been plenty time to get involved in Bitcoin, but by this time the price was up over 3,000 percent, and people were already asking, 'is it too late?'. Bitcoin was worth $3.19 and $100 back then would net you over half a million dollars ($533,065)
Dec. 10, 2012: 
A year later, and Bitcoin was still climbing high, now breaking into the teens sitting at $13.54, a gain of 300 percent. $100 would have turned to $125. Still remarkably impressive in terms of gains, but slowing somewhat from 18 months earlier - Does that mean its rise is coming to an end perhaps?
Dec. 16, 2013:
Hindsight is, of course, a fantastic thing as the next year the price of Bitcoin was up to $638 and thus doubling as an investment. So, $100 worth back then would be pocket change right? Well, it would be worth $2,665 today.
Dec. 8, 2014: 
Bitcoin was starting to be heard in whispers around the dinner table about now, but people also heard that there were black markets, hacks, and other nefarious uses, yet $100 worth back then would be worth $4,859 today.
Dec. 12, 2016:
Through the harder years from 2014 and the slowed growth, Bitcoin would not have been that attractive, but really, it would have been a perfect time to buy. The explosion was just about to happen. Bitcoin was trading for $780. Had you put $100 into it, that investment would have increased by more than 2,000 percent to $2,180.
June 12, 2017: 
Six months ago, no one thought Bitcoin could go much higher than the $2,500 it stood at. But of course, it was about to take off again.
Dec. 5, 2017:
This week alone has seen some crazy movement. Had you bought $100 worth of Bitcoin just a few days ago, you could sell it today for $145.
Dec. 10, 2017: -
If you had bought at the low on Sunday's slump (when prices fell to $13,160), that $100 would be worth $129.

Bitcoin ETFs Seek Approval Following Launch of Futures

Two companies have recently applied to the US Securities and Exchange Commission ( SEC) for approval of their new Bitcoin Exchange-Traded Funds ( ETFs).

According to its  real-time filings system EDGAR, the SEC received new applications for REX Bitcoin Strategy ETF, and REX Short Bitcoin Strategy ETF on  Dec. 8 and VanEck Vectors Bitcoin Strategy ETF on  Monday.

Neither of the companies operating these funds would hold Bitcoin directly - the ETFs will be based on futures contracts and other Bitcoin-linked derivatives. If any one of the applications gets approval it would become the first operating Bitcoin ETF in the world.

Why Bitcoin ETFs are important

An ETF is an investment fund that tracks an underlying index, asset, or basket of assets, and itself trades like a common stock. An ETF for Bitcoin would provide investment and trading opportunities for players who don't want to deal with buying and storing cryptocurrency directly.
For more traditional, wary investors a Bitcoin ETF would be an ideal solution as the entity offering the ETF, not the ETF investor, is responsible for the ownership and security of the underlying cryptocurrency.

Bitcoin Price Headed for $100,000, Says Trader Who Called Q4 Rally

A Hong Kong trader who successfully forecast the bitcoin price's dramatic year-end ascent believes that the flagship cryptocurrency's rally is far from over.

Dave Chapman, managing director of cryptocurrency trading firm Octagon Strategy,  told CNBC's " Squawk Box " that many analysts scoffed at him when he predicted the bitcoin price would more than double in the fourth quarter and reach $10,000 before the end of the year.

"I was quoted back in August when bitcoin was trading at around $4,000 that we would have a five figure headline by the end of this year," he said. "I think a lot of people thought I was crazy, a lot of people scoffed at me, but that's OK."

However, despite condescending looks from bitcoin bears, the bitcoin price has met - and exceeded - Chapman's prediction. At the time of writing, bitcoin was trading at $16,615, fresh off a 20 percent rally fueled by the launch of  CBOE's regulated bitcoin

Chapman said that the  launch of bitcoin derivatives  is a sign that cryptocurrency is "growing up," and he added that he would not be surprised if the bitcoin price reaches $100,000 before the end of 2018. Nevertheless, he cautioned that becoming too fixated on cryptocurrency prices will cause people to lose sight of the truly revolutionary aspects of the technology. futures contracts.

Survey: Most Bitcoin Investors Expect Even Fatter Returns in 2018

Most bitcoin investors in the U.S. are expecting the cryptocurrency to perform even better next year than this year's seventeen-fold appreciation, according to a newly published survey.

LendEDU, a digital student loan startup which has now published four such surveys asking various questions about bitcoin and cryptocurrencies, polled 565 Americans between Nov. 9 and Nov. 13, 2017. It found that roughly 77% of participants believe bitcoin's price will grow more quickly in 2018 than it did this year.

While bitcoin started 2017 hovering just below $1,000, it was trading at more than $16,500 with highs above $17,000 as of Dec. 14, according to CoinDesk's Bitcoin Price Index ( BPI)

Perhaps as a result, nearly 75% of investors plan to increase the size of their investments in bitcoin next year, with less than 10% not planning to, the LendEDU survey found.

On the other hand, about 31.5% of respondents plan to sell at least some of their bitcoin in 2018, with 40% stating they would not and 28.5% being unsure.

A smaller majority, 51%, said they would make at least one physical purchase using the cryptocurrency, with 30% being unsure if they would or not.
LendEDU stated that regulation could help stabilize bitcoin's price, but excessive regulation could conflict with its core principles and alienate some of its supporters. When asked, some 50% of respondents said they would not like to see more regulation, while a hair over 30 percent of respondents said they would like to see more regulation.


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