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August 15th, 2017- In This Issue:


Look out below! Bitcoin's Amazing run may be coming to an end. After a months long rally bringing bitcoin into the global spotlight and climbing over $2,500 it appears that the market is ready to take back some of those gains. After briefly climbing above $4,480 traders began taking profits and at press time bitcoins is trading at $3,954.87.

Now the question is where do we go from here?
It is our opinion that this draw back was necessary and is a healthy correction that was inevitable and predicted by all rational market observers.

We are looking for the market to find support in the $3,600 dollar range where we expect the price to rebound as the bull market continues towards the $5,000 mark.

We recommend adding to your positions during this Bull market correction.

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 Sets New Record High of $4,483 in Overnight Trading
The news follows days in which the climbing value of the digital asset has seen it repeatedly break new ground.

Since May, bitcoin had been fluctuating in the mid to high $2,000s, then August 4 saw enthusiastic trading that catapulted prices upwards - quickly reaching the $3,000 mark and just nine days later  passing $4,000 for the first time ever.

In a likely surprise for those expecting a sell-off, a fall never came and, yesterday, bitcoin surged on to hit an astonishing $4,483 at around 3:50 a.m. UTC.

Reasons for the buoyant market have been put down to growing interest in the cryptocurrency space by institutional investors, alongside the passing of a split of the bitcoin network to form a new cryptocurrency on August 1. When that event - which saw the creation of a rival digital asset called bitcoin cash - passed uneventfully, money seemingly held back by cautious traders poured into the asset.

After calling latest surge above $4,000, Standpoint's Ronnie Moas raises bitcoin forecast to $7,500

  • The stock researcher issued a $5,000 price target on bitcoin in late July, and raised that by $2,500 Monday after the digital currency's surge to a record high over the weekend.


  • Moas expects the market value of digital currencies to jump from around $140 billion to $2 trillion, and bitcoin to rise alongside that increase.


  • Moas said he never held any of the stocks he issued reports on, but now all of his investments are in digital currencies.

Bitcoin Surpassed $4,300 But 99.98% of World's Capital is On The Sidelines

On August 14, the price of bitcoin surpassed the $4,300 mark, achieving yet another new all-time high. Amidst a strong week-long rally triggered by the rising tension between the US and North Korea, increasing demand from institutional investors and the hotly anticipated activation of Segregated Witness, the bitcoin dominance index recovered to 50 percent, as the market cap of bitcoin surpassed $70 billion.

Yet, Ian Lee, general partner at DAICO and former blockchain lead at Citi, reminded the community that even with the recent surge in the price and market cap of bitcoin, 99.8 percent of the world's capital remains on the sidelines.


GOLDMAN SACHS: Here's when we'll know bitcoin's top is in 2017-2018

Bitcoin is experiencing a monster rally. It has  gained more than 15% since Friday's close, topping $4,000, $4,100, and $4,200 for the first time before putting in a high of $4,216 a coin on Monday morning.

But that's only part of bitcoin's recent success. The cryptocurrency has seen huge gains since the  August 1 fork that split it in two. Since bottoming at $2,643 a coin the day of the split, bitcoin has exploded by 57%, and it is now up 335% in 2017.


In February, the Securities and Exchange Commission (SEC) issued its eagerly awaited ruling on the Winklevoss Bitcoin ETF proposal: denied. Finance and media pundits and immediately declared that Bitcoin wasn't ready for the mainstream, and Bitcoin's price quickly dropped. But then something strange happened: shortly after the reject, the price of Bitcoin began soaring, from around $1,100 at the time of the ETF decision to $3,430 today.

Along the way, something even stranger happened. A different regulator, the Commodities Futures Trading Commission (CFTC), approved LedgerX's proposal to launch a regulated Bitcoin futures market.

Bitcoin's ever-volatile prices have reignited the debate about its usefulness as a currency. Most Bitcoin enthusiasts tend to think of Bitcoin in currency terms, calling it "cryptocurrency," or "digital currency." Concern over Bitcoin's usefulness as a currency has led to  conflicts over the very nature of Bitcoin.

In some ways, Bitcoin suits the definition of currency quite adequately. It allows for the creation of secure and transparent transactions, therefore proving adept at transmitting value. Yet, as most enterprise-level financiers have pointed out, the  volatility of Bitcoin greatly decreases its usefulness as a currency.

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