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November 28th, 2017- In This Issue:


Well not quite yet on Coinbase or Bitstamp, although we're awfully close @ $9,967.34

We have no doubts that bitcoin will at least touch $10k, the question is what happens after? If you read the articles attached to this Roundup things will look pretty rosy for the near term outlook. 

However, you never know, we may be a little jaded being that we've been through some dramatic price swings over the course of the last 4 years since we began mining bitcoins. And to be perfectly honest we would love to see a $3-$4k pull back so we could all have one last chance to buy the dip. 

One thing is for sure, investors from all walks of life are piling in on bitcoin. We are swamped with people of all ages that are suddenly consumed with an controllable desire to buy bitcoins. 

It seems everybody loves a bull market and an investment that keeps doubling people's money every few weeks. 

The crazy thing is we couldn't give bitcoins away @ $250 in 2015.
Times sure are a changing..

It is our opinion that we see 10k within a few short hours and that the price will move quickly past 11k most likely by the weeks end. After that we expect a correction which may be rather severe with possible lows in the $7,500-$8,000 range. This is probably the healthiest scenario for bitcoin's immediate future and price stability.

Our recommendation is to find more money to put into bitcoin, buy the dips and hold on for as many years as possible.  The likelihood of bitcoin's long term price appreciation is all but assured in our minds. There is a virtual wall of money coming into bitcoin. 

With the futures market about to open up for bitcoin futures trading, we have little doubt that a game changing ETF will soon be available to the public. Once this happens the price of bitcoin stands to increase another ten fold. Don't be surprised to see $100k and above by 2020 possibly much sooner if current momentum and investor interest stays this high. 

Congratulations to all of you smart enough to already be invested and to those who aren't, your not too late.. I think.. 

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)

Ladies and gentlemen, one bitcoin is now worth $10,000

Bitcoin has finally surmounted the greatest psychological barrier of all, passing  $10,000 and showing no signs of stopping. Following a week of consolidating at all-time high levels around $8,000, Bitcoin found the strength to move up powerfully over the Thanksgiving weekend.

Black Friday saw the currency hit new highs in the upper $8,000s before surmounting the $9,000 level Saturday and immediately charging toward the $10,000 mark Sunday. These price increase come on unusually high volume, with fear of missing out (FOMO) bringing new investors in rapidly.

Bitcoin has had a stunning year, by anyone's accounting. Having started the year at just under $1,000, the price jump to over $10,000 represents some incredible changes. This growth is not a flash-in-the-pan either, but is supported by growing mainstream  adoption and massive trading volume. In just the past 24 hours Bitcoin's trading volume  has exceeded $5 bln.

Major announcements

The year has been filled with major announcements that signal the widespread acceptance and growth of Bitcoin. Extensive coverage by mainstream analysts was followed by huge growth in Bitcoin hedge funds and institutional investors.

Now the launch of regulated futures markets is imminent, and Bitcoin has become the investment du jour of the financial community. Whether they love it or hate it,  big bankers can't keep their mouths shut about Bitcoin.

The attention Bitcoin has garnered from mainstream media has been astounding. Only a year ago, news would spread of a local newspaper mentioning Bitcoin, and the community would be thrilled. Now, major publications mention Bitcoin daily, and no one is surprised. Bitcoin has literally gone viral.

Further, the growth in hedge funds that invest in cryptocurrencies has exploded as well. As early as August, the news that  70 new funds could be starting was a headline. Now, the  existence of 120 new or modified crypto related funds barely warrants a head nod.

Another major contributing factor for Bitcoin's sizeable gains is the reality that Bitcoin futures will soon be traded on major regulated markets. Two of the world's largest futures markets, the  Chicago Mercantile Exchange (CME) and the  Chicago Board of Options Exchange (CBOE), will soon launch Bitcoin futures.

Coinbase Becomes #1 Trending Apple App Amid Record-Setting Bitcoin Price Rally

In the latest sign that bitcoin is becoming a mainstream financial asset, the iOS app for bitcoin exchange Coinbase is now the top trending search in the App Store.

Last week, friends and families across the U.S. gathered together to celebrate Thanksgiving. As in previous years, the subject of bitcoin was likely broached around many tables. However, unlike in previous years, the subject was not necessarily introduced by the resident bitcoin investor, and - perhaps for the first time - the other people at the table truly listened when he or she explained what has fueled the bitcoin price's dramatic year-to-date increase.

Bitcoin was trading at a record level when the holiday arrived, but it has left that mark in the dust in the intervening days. Since Thanksgiving, the bitcoin price has risen approximately $1,600, perhaps in part due to new investors entering the market following those dinner table conversations. The effect of this grassroots bitcoin evangelism is impossible to measure, but this theory is supported by the fact that Coinbase has become the top trending search in the iOS App Store.

Ronnie Moas Sets New Sights for 2018 - $14,000 on the Cards

Less than two weeks ago, Standpoint Research's Ronnie Moas, who is famed for his stock picking, put another target prediction for Bitcoin to reach for 2018,  eyeing $11,000. Having seen many of his targets smashed earlier than expected, the Bitcoin Bull has moved the goalposts again.

Moas now predicts that Bitcoin will be at $14,000 by the time 2018 rolls around, however, his calculation is slightly different to most as he explains in an exclusive interview with Cointelegraph. Moas adds the Bitcoin, Bitcoin Cash and Bitcoin Gold prices together in his calculations.

Surpassing expectations

Moas has been trying to keep abreast with his predictions of late, starting back in July 2017,  prior to the Aug. 1 fork where he boldly stated it would  reach $5,000 in a few months. The price was hovering below $3,000 at the time.

In August 2017, the rapid increase in Bitcoin price led to Moas  revising his projection to $7,500 by the start of 2018. But he has since raised that to $11,000 earlier this month when it was just under $8,000 and now, a few factors have caused him to again revise the target for 2018 to $14,000.

Headlines, such as the announcement by  CME, and the fact that  Square Cash App is allowing selected users to buy and transact in Bitcoin. Additionally, on the altcoin side, American Express and Santander announced a  partnership with Ripple. XRP is now fourth with a $9.2 bln valuation.

Moas said in an exclusive interview with Cointelegraph:

"There have been a number of key developments for cryptocurrencies recently that have made me revise the target. There have been some positives headlines for cryptocurrencies, and they have been knocking over obstacles."

Bitcoin could 'easily' reach $40,000 by the end of 2018, hedge fund legend Novogratz says

Former Fortress hedge fund manager Michael Novogratz said Monday that  bitcoin  can multiply more than four times in roughly the next 13 months.

"Bitcoin could be at $40,000 at the end of 2018. It easily could," Michael Novogratz said Monday on CNBC's "Fast Money." "Ethereum, which I think just touched $500 or is getting close, could be triple where it is as well."

Bitcoin was trading near $9,656 late Monday afternoon, after hitting a record high above $9,700 earlier in the day, according to CoinDesk. Ethereum hit a record high of $493.40 Monday, according to CoinMarketCap, and last traded near $482.

The total market capitalization of all digital coins on CoinMarketCap hit $304 billion Monday. Novogratz said he expects that could increase by about six times to $2 trillion at the end of next year.

"There's a big wave of money coming, not just here but all around the world," said Novogratz, formerly a macro hedge fund manager at Fortress Investment Group. He is planning to launch a $500 million digital assets fund through his new firm, Galaxy Investment Partners.

Demand from Asia has contributed to bitcoin's gains. Japanese yen trading in bitcoin dominates trading volume at about 62 percent, according to CryptoCompare. U.S. dollar-bitcoin trading accounts for about 21 percent, and trading in South Korean won accounts for about 9 percent.

"What's different about these coins than other commodities ... there is no supply response here," Novogratz said. "So it's a speculator's dream in that as buying happens there's no new supply response that comes up. So every price move gets exaggerated. It's going to get exaggerated on the way up. There will be 50 percent corrections. It will get exaggerated on the way down."

$10,000 Bitcoin Price is "Cheap, Highly Undervalued", Says Gatecoin Executive

Hong Kong-based cryptocurrency exchange Gatecoin's marketing chief has stated that bitcoin price, despite these boom times, is "undervalued.

In a televised interview with Bloomberg today, Gatecoin's marketing chief and head of business development for Asia Pacific Thomas Glucksmann was led onto the subject of bitcoin's "fair value", at a time when prices are nearing $10,000 - a remarkable 10x gain since the turn of the year. The bitcoin executive professed the market remains relatively "illogical" compared to traditional financial assets where price predictions are analyzed over usual valuation metrics.

Asked if it was "impossible" to determine bitcoin's fair value, Glucksmann acknowledged and replied:

"I would still argue that it is highly, highly undervalued. If you look at the long-term potential of the technology in the next 10, 20, 30 years, $10,000 is cheap in my opinion."

While bitcoin is now seen in the mainstream as a store of value among retail investors, it remains a peer-to-peer decentralized electronic cryptocurrency, a fact Glucksmann is keen to point out even if or when the cryptocurrency is valued at a million dollars. "Bitcoin is divisible up to 8 decimal places," the Gatecoin executive told the interviewer, referring to the smallest fraction of a Bitcoin, also known as Satoshis (0.00000001 BTC - a hundredth of a millionth BTC).

Bitcoin Is What Email Was In Early 90s

With all the news of  adoption and mass appeal, people need to remember that despite Bitcoin price  breaking $10,000, less than one percent of the world's population actively uses it. There is a lot of noise around the digital currency, but it is still  a small fish in the global economy.

Many have likened Bitcoin to the  dotcom bubble, waiting to burst as people throw money at it like the companies back in the emergence of the Internet. But Bitcoin is not a company, it is a technology, and it sits on the precipice like email did in 1994.

The Killer App

Back in 1994 email was globally adopted by around 0.25 percent of the population. However, it was invented in 1972 by Arpanet engineer Ray Tomlinson. It was, for a very long time, the only 'killer application' for the Internet.
It all sounds quite familiar. Bitcoin,  invented in 2008, was mostly a toy for tech geeks and anarchists who saw a revolution in money as the global economy collapsed. But it was just a hobby, nothing else.
Then, as it gained momentum, it became the only 'killer app' for the Blockchain, and dominated that space for some while by itself.

Making the jump

In order for email to move from being more than just a toy for techno geeks into the space of mainstream commercial and retail use, it needed to tick three boxes.
The technology itself had to develop so far that it was standard and stable and of course useful to users. It had to be made approachable and the User Interface had to shift to be accessible to the every-man. And, finally, the user base needed to grow as that in itself gave email its value in a virtuous cycle.
Bitcoin's path

The early similarities between email and Bitcoin are there. But it is when you start to plot its adoption graph that you note more similarities. 2013 had signs of adoption as  Coinbase did a lot to open the market up with easy access and a good interface for any user to understand and use Bitcoin.

But, there was still a lot of technological issues that needed to be solved. Problems like an unintentional hard fork, few user-friendly interfaces, and a minimal network effects, all dogged Bitcoin's growth and adoption.

That has changed now, in 2017, as even the so-called ' civil war ' is over and the protocol has proved steady in the face of most technological gremlins.

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