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August 29th, 2017- In This Issue:


    Better late then never, in our Aug, 18th news round up we predicted bitcoin would see resistance at $4,600 and hit $4,800 by Monday (8/24), well we were off by a bit, sue me... 

All bets are off now folks, $5,000 is the next stop if we can close above $4,600 today, we predict $5,000 by Friday, it all depends on how much profit taking we're gonna see today. 

I want to take a moment to discuss the ICO/altcoin market and whats going on with all these ICO - altcoin scams.

Buyer beware is the name of this game.

I've been speaking to people on a daily basis all asking the same thing. What about this coin or that ICO token, do you think xyzcoin will go up, how about that move made by abc token up 400% this month etc etc.

Yes Ripple, Litecoin, Monero and a few others have taken off as of late and everyone who missed Bitcoin and the rest are scrambling around desperate to find the next moonshot.

The huge number of ICOs that have launched or are about to are hungry for your money. All that's happening is that you're giving massive amounts of money for them to pocket, for what? A bunch of bs papers and another crappy token. Does anyone need $300 Million to modify the Bitcoin or the Ether code just to make another coin? Look at GNO, SNT, BAS, SNC, all Scams, the EOS token is worthless even before the end of the crowdsale.

Simply said stay away from these teams of scammers, their company is in Seychelles, their videos are fake, everything is fake, there is no traceability. It is modern day robbery at its best, and don't believe their videos, they are staged.

All you have to do is to pay. $3000 here, $4000  there, with a $20,000 budget you can make another ICO about anything, and get promoted everywhere, with an actor posing as you, in a big office and many people you don't know pretending to be busy.

All these Russian scammers are killing the ICO/altcoins, real investors with real money are not that stupid, they are out of the game, hence the volume is awful. They are not going to invest in scams, and with fake videos, fake offices and fake actors and neither should you. 

The people who are trying to get rich with ICO's overnight are the ones that will lose their money.

Do your research, invest in real business models that can make real money, check that the people are real, have an office and are really working on something innovative.

To be safe stick to Bitcoins, other coins we feel have a future are, Litecoin (LTC), Ripple (XRP), Ethereum (ETH), (although it may lose some ground when the SEC begins retroactive prosecutions and fines of the ICOs using Ether's platform).

For those of you that do not know, Bitcoin is the diamond of the digital currency world.  It has more actual utility then all the other coins combined. It can be used to make peer to peer payments without an intermediary (i.e. a bank). It has quickly become gold 2.0, safe haven hedge against inflation, store of wealth and traditional investors and hedge funds are piling on.

Bitcoins have no central backer and rely on a decentralized network of record keepers that work off of the same ledger of transactions (called the "blockchain"). The idea of bitcoin's blockchain is to record all transactions and share this information with the Bitcoin network without having to rely on one entity to verify or control the currency.

The best thing about Bitcoin is that there is a fixed supply of Bitcoins that can ever be "mined."  Currently, there are over 16 million Bitcoins in existence (with a market cap of about $40 billion), but the theoretical limit for total number of Bitcoins is 21 million, which we are predicted to reach by 2140.

This matters to you as an investor, because a cryptocurrency, like Bitcoin, may one day replace the U.S. dollar as the reserve currency of the world. I think this is unlikely to happen soon, but if we get closer to this possibility, the value of Bitcoin will soar. This is the fundamental relationship behind all currency valuations, belief. As more people believe in Bitcoin as a legitimate currency, the value goes up, and as less people believe in it, the value will go down.

To start with some context, Bitcoin has been on a wild ride upward this year:

While this may look enticing, you have to realize that getting to this point was not easy.

To make this feel more real, imagine owning Bitcoin in late 2010 and watching the value of it drop by over 50% on more than 4 occasions. Though this would have been difficult to endure, you would have been rewarded handsomely had you held on.

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)

The Bitcoin Price Just Set a New All-Time High Above $4,700
The price of bitcoin is now trading at its highest level ever.

At press time, the average price of bitcoin across global exchanges was $4,703.21, a figure that was up roughly 4% from a previous high of $4,522.13 set on August 18.

The move comes as bitcoin prices edged up over the day's session, beginning an upward ascent around 12:20 UTC. Since that time, the price of bitcoin is up more than $100, rising from $4,342 at the time.

Overall, the price of bitcoin is up from a daily low of $4,400. On the year, bitcoin is now up 350% from roughly $1,000 on January 1.

Elsewhere, the price of ether, ethereum's blockchain token, was nearing all-time highs, reaching its highest total observed since mid-June.

Swedish Investor Goes 100% Bitcoin, Becomes 100x Richer

After selling all his investments and swapping his life's savings for bitcoin, a Swedish computer engineer has now seen his capital grow a hundredfold, due to bitcoin's value gains over the years.

In an interview with  Business Insider Nordic, Swedish encryption and computer science expert Alexander Bottema revealed he went all-in on bitcoin as early as 2013. While he did not reveal how much bitcoin he possessed, he stated:

My capital has grown by a factor of more than one hundred since I sold all my stocks and liquidated my savings in order to buy bitcoins in 2013.


Long and Short Bitcoin ETFs filed with SEC
Two more bitcoin ETFs have been filed with the U.S. Securities and Exchange Commission (SEC). "Rex Bitcoin Strategy ETF" and "Rex Short Bitcoin Strategy ETF" are not expected to invest directly in bitcoin. Their investments will include US-listed bitcoin derivatives as well as "an actively managed portfolio of fixed income instruments."

Why you pay up to 35% more for Bitcoin in South Africa
South Africans are beginning to ask why the price of Bitcoin on local exchanges does not translate to the dollar price when converted using current exchange rates.

This is because the ZAR price, taken from local exchange Luno, is reflective of the supply/demand situation in South Africa, says finance analyst and CEO of  PowerStocks Research, Dwaine van Vuuren.

"Buyers of Bitcoin on Luno have to purchase from local sellers on Luno and vice versa," he said.

"The global supply of Bitcoin is limited, with only 1,800 new Bitcoin minted per day. When the local demand outstrips local supply, the local price has to rise to coax holders to part with their Bitcoin."

As a result, the local price of Bitcoin in ZAR can trade up to a 35% premium to the global dollar average taken from all major exchanges, he said.

Jihan Wu of Bitmain Confident that Bitcoin Will be Valued $100,000 in 5 years

A possible future global currency,  Bitcoin  has gained a lot of attention recently. Because of its exceptional price performance and the improving regulatory landscape, more high  profile individuals  and  corporations  are taking note.


Faithful techies think in coming decades one digital coin will be worth $500,000.

The price of a Bitcoin broke $4,000 this month. It's up 400% in 2017, and only two years ago it stood at around $230. With 16.5 million Bitcoins in "circulation," and the potential for 4.5 million more, the market value of Bitcoin is now a whopping  $72 billion. Sister currency Ethereum is worth another $32 billion.

Early Snapchat investor Jeremy Liew thinks Bitcoin will reach $500,000 by 2030. Tech eccentric John McAfee believes it'll take only three years. That's $1 trillion of digital coins. Now companies with an idea for applications built on top of these currencies are raising hundreds of millions through initial coin offerings. Is Bitcoin the greatest rocket ship ever or will it end up a giant smoking hole in the ground?

Is Bitcoin the New Gold?
Gold has always been considered a safe haven asset.

Now  Bitcoin is appearing to exhibit gold-like properties. Will Bitcoin replace gold as the new safe haven asset?

Anti Danilevski, CEO of  KICKICO, a Russian blockchain platform for initial coin offerings, explains that during financial difficulties, Bitcoin has already been performing in analogous ways to gold -- representing a calm harbor for investors.

"During the last year S&P 500 index was decreased, gold ( GLD)  increased by 14.4%, whereas Bitcoin increased by 74.9%," Danilevski said. "During the last five years, S&P 500 increased by 68.8%, gold decreased by 26.5%, whilst bitcoin grew by an impressive 24.9%."

Danilevski believes cryptocurrency is not only a good backup plan, but compared to gold, it grows considerably more in its price with a growing market.

Taking into consideration the recent events such as the clash between North Korea and President Trump, we saw gold rise on the back of genuine fear of conflict.

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