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November 18th, 2017- In This Issue:


Once again bitcoin has proved to be resilient to say the least.

Once again bitcoin has spat in the eyes of all their detractors and once again we are
celebrating another all time high as market price of a single bitcoin briefly breached a whopping $8,000.

And once again we are congratulating everyone savvy enough to already be invested into bitcoin.

Just amazing, like living in a dream come true.

But more importantly the news that has triggered this rally is solidly great news across the board. 

Big business is coming in to bitcoin like never before, review the articles below for further details about Square accepting bitcoins "( Square's market capitalization swelled from $15 bln to $16 bln following the announcement, so Wall Street is apparently just as pleased as the Bitcoin community."

CME expecting to start trading bitcoin futures within the next 30-60 days "
British hedge fund Man Group , with over $100 bln in funds under management, announced they will begin trading Bitcoin once  CME's futures market  is launched."

Adding to the good news, Coinbase today announced Coinbase Custody, a Bitcoin storage service intended for hedge funds that might want to invest in the digital currency.

Coinbase announcement stated:
"Over 100 hedge funds have been created in the past year exclusively to trade digital currency. An even greater number of traditional institutional investors are starting to look at trading digital assets (including family offices, sovereign wealth funds, traditional hedge funds, and more).
By some estimates there is $10B of institutional money waiting on the sidelines to invest in digital currency today

$8,000 bitcoin, wow! Sounds high, it may be. But we still feel that this is still just the tip of the iceberg.

Bear in mind that only one out of every 28,000 people on the planet own a bitcoin. This new asset class is still in its infancy, which is why many experts have increased their predictions of bitcoins future price, some are calling for $500,000 valuation within the next 3 years.

For that kind of reward potential even the most conservative average Joe investor will be scooping up a few bitcoins just in case.. 

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)

Bitcoin Breaks Through $8,000 Following Massive Head Fake

Bitcoin just surmounted the $8,000 level, topping out at $8,020 on Bitfinex before retreating to $7,900 at press time. By now, reading about Bitcoin's breach of its previous high might be getting repetitious, so strong has the currency's bull run been. This time is an exception, though, because Bitcoin just pulled the mother of all head fakes.

Looking back

About a week ago,  the SegWit2x hard fork was cancelled and the price immediately spiked from $7,200 to $7,800. But within the hour, the price had dropped and continued to fall further. Just a few days later, Bitcoin had sunk to a local low of $5,500, while rival  Bitcoin Cash shot up from $600 to $2,600. At the time, a large number of Bitcoin miners had moved to Bitcoin Cash and the number of  unconfirmed transactions soared to over 135,000. Fees increased commensurately.

Things didn't look good. Bitcoin had just officially eschewed the only near-term solution to the scalability crisis. SegWit, which was adopted back in August, will take time to gain traction as wallet providers must include the feature and users must voluntarily begin using it.  Lightning Network, Bitcoin's long-term scaling plan, is still in testing and not ready for primetime yet. With the cancellation of 2MB blocks, it became obvious that there would be no quick fix to the currency's scaling problem.

Waves of good news

However,  Bitcoin Cash began rapidly dropping from its nearly vertical price ascent, miners came back to Bitcoin, and the transaction backlog subsided. Bitcoin's price began to rise, and as good news arrived, the price moves became even larger.

What good news? Well, the  British hedge fund Man Group, with over $100 bln in funds under management, announced they will begin trading Bitcoin once  CME's futures market is launched. Immediately following this, Payments app Square announced its full integration of Bitcoin into the payments platform. 

$16 Bln Payments App Square Integrates Bitcoin, What's Next?

Earlier this week, $16 bln payments app Square officially integrated Bitcoin into its mobile platform, enabling three mln active users to buy, sell and store Bitcoin seamlessly.

Jack Dorsey, the CEO at Twitter and Square, particularly expressed his enthusiasm towards the potential of Bitcoin as a robust store of value, and the Square team's optimism surrounding the long-term growth trend of Bitcoin.

In an interview with Forbes, a Square representative  explained:

"We're always listening to our customers and we've found that they are interested in using the Cash App to buy Bitcoin. We're exploring how Square can make this experience faster and easier, and have rolled out this feature to a small number of Cash App customers. We believe cryptocurrency can greatly impact the ability of individuals to participate in the global financial system and we're excited to learn more here."

Market cap of Square surges by $1 bln after Bitcoin integration

Since Friday, the share price and the market cap of Square have increased by nearly 10 percent, as the company's market cap rose from $15 bln to $16 bln within a five day period.

Billionaire Bull Novogratz: Big Money is Coming to Bitcoin, Real Soon

The former hedge fund manager of Fortress Investment Group believes that institutional investors will adopt bitcoin in the next six months.

Mike Novogratz, a retired Wall Street macro fund manager, firmly believes that financial companies will start offering bitcoin as an investment option. So much so, that he thinks it will be as simple as ordering over the phone, reports  CNBC.

Speaking at the Reuters Global 2018 Investment Outlook Summit in New York, Novogratz, who owns  10 percent of his net worth in bitcoin and ethereum, said:

When it's that easy, the price of bitcoin or ethereum is going to go much higher. And that is a lot closer than people think.

Novogratz, who is chief executive of Galaxy Investment Partners, a firm that bets on cryptocurrencies, claimed last month that Jamie Dimon, JPMorgan Chase CEO, was a 'rent-taker' and that he's going to lose the fight against cryptocurrencies.

At the time, Novogratz was speaking out against Dimon's 'bitcoin is a fraud' remark, stating that as a banker Dimon had no choice, but to belittle the digital currency. Yet, despite critics voicing their opinions about the market, the former hedge fund manager's confidence with the cryptocurrency remains. So much so, that in October he was reported as saying that it would reach $10,000 in six to 10 months, claiming that institutional investors had already begun investing in bitcoin.

Bitcoin $400,000 Says Investing Guru Mark Yusko

he Chicago Mercantile Exchange (CME) has  announced it will add Bitcoin futures trading in the fourth quarter of 2017.  Bitcoin price almost instantaneously jumped on the news, reaching all-time highs over $7,500.

However, the cancellation of  SegWit2x has led to a sudden slump in the price, and would-be investors have been scared away from previous high priced predictions. However, Mark Yusko, founder and CEO of Morgan Creek Capital Management ($3.7 bln in assets under management) has not shied away from making predictions, suggesting that Bitcoin will eventually be worth $400,000.

The investing guru first bought into the cryptocurrency scene in 2011 but regrets not purchasing more. He was clear about the future, however, in spite of the lack of support among institutional bankers. He noted:

"This will change the supply and demand equation for banking. It is that big. I'm not surprised at all that bankers, financiers and Saudi Princes are coming out against it. This is a truly disruptive technology."

$100 Billion Hedge Fund Man Group Plans to Add Bitcoin to 'Investment Universe'

Historic British hedge fund Man Group says that it will likely add bitcoin to its "investment universe" once U.S. exchange CME launches bitcoin futures contracts next month.

The London-based Man Group, which was founded in 1783 as a sugar cooperage and brokerage, is one of the world's largest hedge funds and has close to $100 billion in funds under management.

Responding to the news that the Chicago-based derivatives market CME intends to launch bitcoin futures during the second week of December, Man Group CEO Luke Ellis told Reuters that the firm intends to add bitcoin to its "investment universe" once the futures contracts are officially listed for trading.

"Conceptually digital currencies are an interesting thing," he said. "It's not part of our investment universe today - it could be. If there is a CME future on bitcoin, it would be."

CME Group's Regulated Futures Market May Enable Retail Giants to Accept Bitcoin

CME Group's announcement that they will begin trading Bitcoin futures catapulted the Bitcoin market to new highs two weeks ago. Many Bitcoin investors are waiting with bated breath for trading to commence and are expecting further price growth. Indeed, when the world's largest futures market recognizes Bitcoin as a legitimate asset and decides to integrate it into their offerings, it would seem to be a very good thing.

What does it actually accomplish?

But why? Other than CME Group's imprimatur, which is undoubtedly valuable in itself, what specific good is going to come from this new marketplace? After all, creation of a large and regulated futures market will make it far easier for  deep-pocketed traders to short Bitcoin , potentially causing the price to tumble.

Cointelegraph had the opportunity to speak with David Johnson, CEO of Latium and experienced  foreign exchange (FX) trader, to get his take on what CME Group's announcement means. Johnson believes the biggest boost to Bitcoin will come not from the trading of futures per se, but from what that trading enables: retail adoption.

A lesson from the airlines

The airline industry is one of the biggest buyers of  oil futures in the world. The reason is obvious; they need to "lock in" the price of jet fuel so they can charge passengers an appropriate fare. If airlines were subject to the daily whims of the oil market, they would find it nearly impossible to operate effectively.
The process of locking in prices on a commodity or asset is referred to as " hedging." The airlines don't want to buy massive amounts of jet fuel and have to store it for long periods of time; all they want is a stable price. Therefore, they go to the futures market and buy or sell specific types of options which effectively guarantee the price they will pay for fuel for a period of time.

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