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January 30th, 2018- In This Issue:
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BITCOIN PRICE ALERT! DOWN 25% @ $9,750.45
N
ow's not the time to panic, now's the time to load up on Bargain Bitcoins.
W
arren Buffett
"
Be fearful when others are greedy and greedy when others are fearful."
Bitcoin Obituaries
Bitcoin has died 236 times
(and counting...)
Most Recent Death: January 12, 2018 - Bitcoin's Demise Moves Closer
Oldest Death: December 15, 2010 - Why Bitcoin can't be a currency
Deaths by Year: 2018 (8) 2017 (109) 2016 (28) 2015 (39) 2014 (29) 2013 (15) 2012 (1) 2011 (6) 2010 (1)
2nd - 3rd week of January is historically the best to time to buy!
BUY LOW & SELL HIGH!!
BTC/USD Historical Prices (Bitstamp)
2016 Low = Jan. 16th = $352
2017 Low =Jan. 11th =$755
2017 Year close = $13,880
2018 Low = $9,141
2018 Year close ??,???
Ok, so Bitcoin is correcting,, um, a lot, not just Bitcoin, the entire crypto-currency market is experiencing a major correction (folks are selling and the price is going down). Is this good or bad, what to do next? The simple answer is BUY MORE BITCOINS!!
Corrections are good, if you are looking at the long term view then this is and should be treated as a gift, a second chance to get in on the lower end of the trading range. This type of correction happens after a phenomenal bull run, the price reached all-time highs. Now everyone wants to know where the bottom is? Who knows, and trying to catch the absolute bottom is nearly impossible so why try? The idea is to buy as close to the bottom as you can and hold on to your bitcoins as long as you possibly can.
What to do next? BUY MORE BITCOINS!! If you bought at higher levels, buying now will bring your overall price down and when the price recovers to where you bought in at you'll have a tidy profit rather than just breaking even.
We can't stress it enough, now is the time to buy we believe the price is within a few percentage points of the bottom, don't let this last chance to buy under 10k pass you buy!!!
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)
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Top 4 Bitcoin Price Predictions for 2018
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Ever since Satoshi Nakamoto published his famous paper detailing how Distributed Ledger Technology (DLT), which is another nomenclature for Blockchain technology, can underpin a digital currency, the first of which would later be known as Bitcoin, the world has been taken by storm by this new form of settling financial transactions. The general sentiment alternated between fascination and awe on the one hand, and skepticism and incredulity on the other.
However, regardless of what the naysayers have to say, it is now apparent that Bitcoin is here to stay. In early December, a Bitcoin's price has surpassed 19,000 $, going well beyond plenty of predictions out there, and the underlying Blockchain technology has been used to create multiple forms of cryptocurrencies, including Ethereum, Litecoin, and Ripple. Despite Bitcoin's price being extremely volatile over the past couple of years, this article will attempt to make a few Bitcoin price predictions for 2018, in the hopes of shedding a little light on this fascinating subject.
1. Bitcoin's Price Will Surpass the $100,000 Mark by Mid-2018
Originally, the dominant Bitcoin price prediction was that Bitcoin would reach the $14,000 mark by mid-2018. However, recent developments have blown that prediction out of the water, and optimists are hoping that Bitcoin will break through the $100,000 barrier within the next year. In fact, some people, including CNBC's Jim Cramer, are predicting that Bitcoin will go as far as shatter the million dollar threshold one day.
Is difficult to say if it can really reach $100,000 per coin. Market capitalisation should be 1 trillion USD just on BTC to reach $60,000 per coin. Now the entire market cap is at $700 billions. Considering it was $170 billions 4 months ago, is not that impossible, don't you think?
2. The Original Intent to Use Bitcoin as a Means of Transaction May Give Way in Favor of Using It as a Means of Storing Value
It is very likely that Bitcoin usage will shift from a currency that we all use, to atool used to store value. To begin with, owing to the major increase in Bitcoin price, investors have been using Bitcoin as a vehicle for their investments. Additionally, Bitcoin's security features make it all the more attractive to be used as a proverbial vault rather than a transactional currency. Furthermore, Bitcoin has issues regarding scalability (scalability refers to adding more users to the network), and all attempts to address these issues have been met with resistance and failure. This, in turn, means that the cost of each transaction has increased, and will keep going up so long as these issues are not addressed. Finally, the appearance of new cryptocurrencies that are better equipped to handle a large number of transactions in comparison to Bitcoin may force the incumbent currency to take a backseat
3. The Emergence of a Futures Market Will Be a Game Changer, for Better or Worse
Bitcoin come mid-December, everybody started realizing the possible implications this might have. On the positive side of the equation, futures facilitate trading a certain asset, making it more accessible to investors and the general public alike. As a result, the rate of adoption of Bitcoin should increase commensurately. Furthermore, the cost of trading futures is quite low, whereas an increasing rate of adoption and a stagnant underlying technology have been driving the cost of transacting via Bitcoin up. Over and above, futures are pivotal in the process of price discovery, which means that they can help Bitcoin gain some price stability.
However, a futures market could also mean that there will be some downward pressure on the price of Bitcoin. This stands to reason as a futures market will make it easier for large institutional investors to short sell Bitcoin, and take bets on both sides of the table. It remains to be seen which effect will dominate the other.
4. There Is Reason to Believe that Bitcoin Is in a Bubble Which May Burst at Any Moment
Despite there being plenty of optimism surrounding Bitcoin, there are some who are concerned that this is all a speculative bubble. Firstly, the fact that Bitcoin's underlying technology is antiquated when compared to its younger peers means that unless it experiences a radical advancement, Bitcoin won't be able to enjoy its first mover advantage forever. Another point is that Metcalfe's law concerning the size of networks won't be as applicable should Bitcoin become a vehicle for value storage, regardless of the amount of people who adopt this technology. Simply put, a network will become useless if all the members in it are hoarding the currency and not interacting with one another.
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Bitcoin headed to $100,000 in 2018, says analyst who predicted last year's price rise
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Bitcoin could hit $100,000 in 2018, an analyst who correctly predicted the cryptocurrency's rally at the start of last year told CNBC on Tuesday.
Kay Van-Petersen, an analyst at Saxo Bank, added that other rival digital coins could also outperform.
Van-Petersen forecast in December 2016 that bitcoin would reach $2,000 in 2017. At the time, bitcoin was trading below $900, according to CoinDesk, a website that tracks the price of digital currencies on a number of different exchanges.
Bitcoin blew past the $2,000 figure in May.
Van-Petersen said Tuesday that bitcoin could hit between $50,000 and $100,000 in 2018.
"First off, you could argue we have had a proper correction in bitcoin, it has had a 50 percent pull back at one point, which is healthy. But we have still not seen the full effect of the futures contracts," Van-Petersen said.
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Wall Street Vets Raise $50 Million for Crypto
Fund of Funds
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Sitting at his desk at Credit Suisse, Sina Nader watched the bottom fall out of the global economy.
As a junior associate helping manage a $100 million portfolio of equities, he had a first-hand view
of the 2007-2008 collapse from the Swiss bank's Los Angeles offices and recalls frantically taking screenshots of the price as Lehman Brothers' stock collapsed to "essentially zero."
"My first thought was, 'Holy shit, some traders just took out Lehman,'" Nader told CoinDesk. "My next thought was, 'Holy shit, if the fifth-largest investment bank in America can be taken out like this, is the banking system actually safe?'"
Likening it to the feeling kids get when they learn Santa Claus isn't real, Nader says that the day changed him forever - and eventually sent him into the wild world of cryptocurrency.
After going down the crypto rabbit hole, Nader, who's also worked for Morgan Stanley, teamed up with a former private wealth analyst at Morgan Stanley, Jacob Kirschenbaum, and others to launch Cryptolux Capital, a crypto
fund of funds.
And revealed exclusively to CoinDesk, Nader has secured about $50 million of the $100 million the fund is seeking.
While the number of crypto hedge funds
has grown from about 124 in October to 175 today, Nader positions his experience in one of the traditional financial system's worst hours as the key to Cryptolux's success.
"I look back to what I saw in the financial services world, and that really sets the stage for me to be excited about crypto," Nader said. "When you're watching the five biggest investment banks in the country either go out of business or change their entire business model, you realize that the banking system is not as strong as many people may have believed it was."
Read More...
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Bitcoin could hit $50,000 this year & such volatility is normal, expert tells RT
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Missed any of the issues of our news round ups?
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Copyright © 2017. All Rights Reserved.
Disclaimer: The information contained herein is not guaranteed, does not purport to be comprehensive and is strictly for information purposes only. It should not be regarded as investment/trading advice. All the information is believed to come from reliable sources. BitvestMint llc does not warrant the accuracy, correctness, or completeness of information in its analysis and therefore will not be liable for any loss incurred.
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