Category: Bitcoin
The analysis published under this category are as follows.
Saturday, March 04, 2017
Bitcoin Is Now As Good As Gold, Actually It’s Better / Currencies / Bitcoin
By: Jeff_Berwick
It wasn’t too long after I discovered bitcoin in 2011, trading at $3, that I became one of its biggest promoters.
I have even said on several different occasions, that if bitcoin reaches its ultimate potential it will be worth more than $1 million in today’s US dollar terms. Of course, if it did, we wouldn’t be talking about the price of bitcoin in dollars because dollars likely wouldn’t exist anymore.
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Friday, February 24, 2017
Bitcoin Price Hits Record High! / Currencies / Bitcoin
By: Jeff_Berwick
Bitcoin has just smashed through its all-time high in US dollar terms.
The US dollar was the last all-time fiat currency to crack as bitcoin has been hitting all-time highs in every other government/mafia mandated currency over the last few years.
On CoinDesk bitcoin hit an all time high of $1206.60 which is the highest it’s been since Mt. Gox in 2013, which doesn’t count, because it was likely inflating bitcoin prices before it was shut down.
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Thursday, February 23, 2017
Bitcoin Breaks Records and Sits at Cusp of All-Time High…Here’s Why / Currencies / Bitcoin
By: Jeff_Berwick
We have been the biggest proponent of bitcoin in the financial space since it was $3 in 2011.
It now sits just a few dollars from its all-time high (ex-Mt. Gox which wasn’t a legitimate high) of $1,150. And, bitcoin has remained above the $1000 price level for a record stretch of time - seven days!
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Tuesday, February 14, 2017
Bitcoin Price Dancing around $1,000 / Currencies / Bitcoin
By: Mike_McAra
In short: no speculative positions.
Needham & Co., an investment firm, has issued a new report on the potential success of three prospective Bitcoin ETF. In the report, we read:
Given elevated interest in the bitcoin ETFs that are going through the regulatory approval process we're revisting the subject with a deeper dive to take a look at the factors that may affect approval, differences between the three filings, market indicators of approval odds, and the effect of approval/disapproval on price. Overall, we maintain our estimates that the likelihood of approval is less than 25% but that, if it were approved, such an ETF would be extremely successful. That said, there are some market indicators that seem to suggest higher odds than our own estimates. Ultimately, while we don't see any specific reason to disapprove the Winklevoss Bitcoin ETF, we think the SEC is likely to disapprove out of an abundance of caution around bitcoin itself (as opposed to something specific to the filing).
Saturday, February 11, 2017
Bitcoin Making Waves In China and Japan / Currencies / Bitcoin
By: Jeff_Berwick
As we’ve said here many times, bitcoin is not a revolution in money and banking. A revolution means returning to where you came from. Instead, bitcoin is an evolution in money and banking.
It changes the game so massively that the entire financial, monetary and political systems have no idea how to deal with it. For this reason, nearly every country in the world has a different “policy” when it comes to bitcoin.
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Friday, January 27, 2017
Bitcoin Price Above Resistance / Currencies / Bitcoin
By: Mike_McAra
In short: no speculative positions.
The recent drop in Bitcoin volatility is widely attributed to developments in China. On Bloomberg, we read:
Bitcoin's volatility has plunged since China banned leveraged trading and forced exchanges to charge fees.
Perhaps more meaningfully, trading volume has plunged 98 percent compared with the first days of 2017, according to data from bitcoinity.org. On Jan. 1, when bitcoin traded at $1,012.3, 4.8 million coins exchanged hands. On Wednesday, only 80,092 did. Sure, many Chinese investors, who still represent the lion's share of trading, are away from their desks because of the Lunar New Year. Still, the speed and pattern of the decline make it hard not to draw a line to the regulatory action.
Friday, January 06, 2017
Bitcoin Pulls Back After Massive Price Increase / Currencies / Bitcoin
By: Jeff_Berwick
In the last month, bitcoin continued its rise, from $763 to a high of $1,153 yesterday.
Then it fell dramatically on Thursday to a low of $953 on Coindesk and has since been hovering in the $1,000 area.
All of this comes just days after the 8th anniversary of the first piece of the blockchain, known as bitcoin’s “Genesis Block” which was mined by the pseudonym known as Satoshi Nakamoto on the 3rd of January, 2009.
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Monday, January 02, 2017
Bitcoin Price Breaks Above $1,000 On First Day of 2017 / Currencies / Bitcoin
By: Jeff_Berwick
In the first hours of 2017, bitcoin has surpassed the $1,000 USD mark.
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Saturday, December 31, 2016
Bitcoin and Friends in 2017 / Currencies / Bitcoin
By: Submissions
Greetings from Planet Krypto. We are the real deal, long-timer cryptographic-currency geeks; and today I’m gonna interview me, because I know what questions to ask. Please pardon the over-simplifications:
One: will Bitcoin continue to rise in price?
Yes, because consciousness of the deterioration of fiat currencies is growing. Three years ago, the notion that macroeconomic events would ultimately be the primary price-driver of cryptocurrency prices was almost unheard of. It’s now a no-brainer.
[And the Winklevoss Bitcoin ETF? Nooo era! Feel free to ask me.]
Saturday, December 24, 2016
Bitcoin Breaks Out To New All-Time Market Cap Highs…How High Can It Go? / Currencies / Bitcoin
By: Jeff_Berwick
Bitcoin has had quite a month, rising from $725 to a high of $911 today.
Wednesday, December 21, 2016
Bitcoin Price Above Resistance / Currencies / Bitcoin
By: Mike_McAra
In short: no speculative positions.
If you’re wondering how Bitcoin-based systems might influence the stock market, Overstock has just given you an example. In an article on CoinDesk, we read:
Online retailer Overstock.com has closed the first-ever Series A preferred funding round with shares sold on a blockchain.
Of the total $10.9m raised from existing shareholders, about $1.9m was raised via shares traded on the tØ blockchian platform developed by Overstock.com subsidiary Medici.
Wednesday, November 23, 2016
As Cryptocurrencies Grow More Popular, IRS Attacks Bitcoin Exchange / Currencies / Bitcoin
By: Jeff_Berwick
Coinbase, a popular American bitcoin exchange, is under fire by the IRS – one of the most ruthless government agencies – for being suspected of “failing to comply” with tax laws.
Because of the “war on cash,” privacy concerns and price inflation, people are flocking into cryptocurrencies such a bitcoin. But such alternatives to monopoly-fiat paper money are hated by the handful of human overseers who control the monopolized central banking system.
Privately held exchanges like Coinbase facilitate the exchange of fiat currencies and commodities for a given amount of bitcoin depending on the price being quoted.
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Saturday, November 05, 2016
Bitcoin Trading Alert: Bitcoin at Long-term Resistance / Currencies / Bitcoin
By: Mike_McAra
In short: no speculative positions.
Bitcoin is now getting more attention as the currency has shot up in the last couple of weeks. In an article on Bloomberg,we read:
It's happening again. Bitcoin has locked step with gold and taken to the skies as uncertainty about the U.S. election increases volatility in global markets. It is, in short, acting as a haven.
(…)
Aside from facing obsolescence and the threat of competing with actual currencies, the volatility of Bitcoin has to be off-putting for serious investors. During any given period, the digital currency swings three to five times more violently than gold, hardly the behavior expected from a haven asset.
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Wednesday, November 02, 2016
Bitcoin Price Soars on Its Eighth Birthday / Currencies / Bitcoin
By: Jeff_Berwick
As of yesterday it was eight years to the day since Bitcoin’s initial white paper was posted to the internet.
And what a birthday party it had, soaring from $614 on October 1st to around $728 today with gold and silver also rocketing higher, with silver up more than 3% today.
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Tuesday, September 27, 2016
Bitcoin Trading Alert: Starting Point of Decline Not Far? / Currencies / Bitcoin
By: Mike_McAra
In short: no speculative positions.
The treatment of Bitcoin by asset management firms is slowly changing. The digital currency is by no means as popular as traditional assets, however, investment companies sometimes approach Bitcoin as a new asset class, one that might be on its way to maturity. Money Morning cites a report on Bitcoin by Needham & Co.:
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Monday, September 19, 2016
Central Bank Digital Currencies: A Revolution in Banking? / Stock-Markets / Bitcoin
By: Ellen_Brown
Several central banks, including the Bank of England, the People’s Bank of China, the Bank of Canada and the Federal Reserve, are exploring the concept of issuing their own digital currencies, using the blockchain technology developed for Bitcoin. Skeptical commentators suspect that their primary goal is to eliminate cash, setting us up for negative interest rates (we pay the bank to hold our deposits rather than the reverse).
Wednesday, September 14, 2016
A Common Sense Regulatory Framework for Digital Currency / Currencies / Bitcoin
By: Submissions
John Dunham writes: The phrase, horror vacui, or nature abhors a vacuum, was attributed to Aristotle, who suggested that nature contains no vacuums because the denser surrounding material would immediately fill any void. This physical postulate is often applied to the idea of government regulation. If something is not regulated (or in many cases highly regulated) then it is indisputable that some government will step into the void. In the case of digital currency and/or cryptocurrency, the concept of horror vacui is in full swing as governments from the European Union to the United States to China are all proposing broad regulations on the development and operation of digital currency markets. This is on top of local court rulings, such as that made by a Miami-Dade Florida circuit court judge who ruled that Bitcoin was not a currency.
Tuesday, September 13, 2016
Bitcoin Price Back Down / Currencies / Bitcoin
By: Mike_McAra
In short: no speculative positions.
The current banking system is global, at least in theory, but it definitely seems that the term “global” does not actually apply to all parts of the payments space the way we would like it to. International wire transfers still tend to be slow and costly. It is perhaps irritating that sending an email takes seconds but sending $5 abroad is slow, expensive or altogether impossible. This is why companies like Western Union still charge hefty fees for overseas transfers. As it turns out, Bitcoin and other digital currencies might offer a way forward for making the remittance industry more accessible. On Quartz, we read:
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Saturday, August 27, 2016
Bitcoin Is Just a Bit Player / Currencies / Bitcoin
By: MoneyMetals
Over the last few years, so-called "crypto-currencies" – digital equivalents of a monetary exchange unit, have been all the rage. The most well-known in the category, Bitcoin, has had quite a run.
Starting out as a "virtual penny stock" it rose in 2014 to the elevated height of $1,150, before crashing back to earth. This "electronic currency" is created and stored in a computerized "wallet." Purchases and sales are made via a "blockchain" which keeps a memory of every transaction conducted. Private keys (supposedly) provide assurance that a Bitcoin holder's account is safe.
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Wednesday, August 10, 2016
Bitcoin after Recent Decline / Currencies / Bitcoin
By: Mike_McAra
In short: short speculative positions; stop-loss at $657; initial target at $527.
The customers of the recently hacked Bitfinex exchange will most likely share the losses resulting from the theft, we read on the Wall Street Journal website:
Bitfinex, the digital-currency exchange that lost $65 million to hackers last week, plans to spread the losses among all its users, including those not directly affected by the hack.
The Hong Kong-based digital-currency exchange said in a statement Sunday that the losses from the theft would be shared, or “generalized across all accounts and assets” of its clients, with each taking a loss of around 36%.
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