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September 1st, 2017- In This Issue:
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ANOTHER BITCOIN PRICE ALERT? BITCOIN ROCKETS OVER $4,800!
It seems that almost everyday we see another all time high, well here we are again and congratulations to all the folks that are already invested.
The real questions are, how long can this persist? How high will it go? Is it too late to get in?
We can only answer these questions from a long term outlook, what will happen tomorrow or the day after is anyone's guess.
Although we feel
like this will continue until November when the Segwit2x software upgrade is scheduled to take place.
Short term certainly $5,000 resistance will be tested, and most likely overcome. There is so much new money pouring in right now it seems that the top of this market is nowhere in sight.
We're looking for $5,000 by Monday and an attempt at $5,500 within the next 10 days. It's hard to see what the landscape will look like after that.
Long term our thoughts are that bitcoin will eventually trade between $20,000 - $50,000, Most likely within the next 3-5 years. So if you're not looking to trade in and out of the market, there is still plenty of time to get in, especially if you plan on using your tax deferred retirement savings to buy bitcoin.
Tell everyone you care about about bitcoin, you will possibly be giving them the best investment tip anyone ever gave them.
Good luck to us all and have a wonderful Labor Day weekend!!
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)
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| $4,880: Bitcoin Price Climbs to Another All-Time High |
Having only briefly topped the $4,800 mark for the first time yesterday, bitcoin's price has bounced back to achieve a new high just cents below $4,880 today.
Opening the session at $4,764.87, vigorous trading has seen the value of a bitcoin rise this morning to a record-setting $4,879.24 - up around $115 for the day so far, according to CoinDesk's
Bitcoin Price Index. At press time, the price had dropped slightly to $4,876.
The market capitalization of the number one cryptocurrency has now reached over $79.7 billion - also a new high - and a market share of 45.4 percent, according to data from
CoinMarketCap.
Elsewhere today, litecoin has also
set a new all-time high of over $78, as has the combined market cap of all cryptocurrencies, which now stands at over $175 billion.
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Bitcoin Is The New 'Gold'
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North Korean dictator Kim Jong-un is launching missiles over Japan. China is trying to write its own navigation rules in South China Sea. Washington is in disarray. Global debt continues to pile up. And central banks continue to hold interest rates at near zero levels.
Global uncertainty is rising. Yet, gold isn't rallying.
Bitcoin, the new 'gold,' is.
Once, gold was the hedge against uncertainty, the asset where investors could park their cash in times of political and economic turmoil. Now Bitcoin is taking its place, as evidenced by the performance of the two assets in recent months.
Read More...
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Bitcoin Price at $10,000 For GBTC Shares, Trading at 120 Percent Premium
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The Bitcoin Investment Trust (GBTC) is currently trading at $927 per share, with each share representing approximately 9/100 of a Bitcoin.
This price, if calculated with Bitcoin Cash disbursement, represents a price of $10,000 per Bitcoin, almost 120 percent premium on the current Bitcoin price.
The analysis was brought to light via Tuur Demeester, the economist and editor at Adamant Research.
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Gold Losing Safe Haven Status Due to Cryptocurrencies, Monetary Policy
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Gold prices
jumped
1% on Tuesday morning, fueled by geopolitical and market concerns, with the latest North Korean missile launch being the immediate catalyst.
However, according to
Bloomberg, the jump in gold prices is a 'too little too late' response to the general state of geopolitics and market uncertainties. The precious metal appears to be
losing its 'safe haven' status. Traditional models should have gold prices well above what they are now, and there are two things to blame for gold's relatively poor performance.
Eroding Gold
Part of the reason gold hasn't performed as well as expected is because investors are shifting their funds to digital currencies. Currencies such as Bitcoin have held their value quite well during recent crises, such as Venezuela's hyperinflation.
Unconventional monetary policies by central banks has also eroded a bit of gold's value. The unwinding of central bank balance sheets which must eventually happen is leaving investors nervous. Some of them are seeking a safe haven in Bitcoin.
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| Hedge funds are cashing in on bitcoin mania - there are now 50 dedicated to cryptocurrencies |
The market for cryptocurrencies is red-hot, and dozens of crypto-focused hedge funds are looking to get in on the action.
Digital currencies, such as Bitcoin, are powered by distributed ledger technology and are not controlled by a centralized authority. The market for such currencies has exploded with over 800 coins on the market with a combined marketcap of $166 billion.
Autonomous NEXT, a fintech analytics firm, released a list of 55 cryptocurrency hedge funds on Tuesday, illustrating the mounting interest in the space.
Read More...
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How Bitcoin's Retail Champion Rolls With Volatile Punches
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Overstock's policy with the Bitcoin it receives from their online store is to keep half, and turn the other half into dollars. This effectively gives them a reserve of Bitcoin as an investment, that is currently paying off quite nicely.
"What we do now is 50 percent gets turned into US dollars and 50 percent gets held as Bitcoin. So we're accumulating that Bitcoin."
Read More...
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Shipping Logistics Firm Completes Successful Blockchain Pilot
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MTI has announced details of a blockchain pilot wherein multiple parties - the supplier, shipper, load point, customs and terminal authorities, were able to access real-time data over an interoperable blockchain. The results of the successful pilot were verified by computer scientists at the University of Copenhagen in Denmark and maritime technology leads at Blockchain Labs for Open Collaboration (BLOC).
Jody Cleworth, CEO of Martine Transport International added:
"The blockchain has proven to be an excellent way of connecting the different parties involved in any supply chain environment due to the transparency and security-by-design of the technology."
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Copyright © 2017. All Rights Reserved.
Disclaimer: The information contained herein is not guaranteed, does not purport to be comprehensive and is strictly for information purposes only. It should not be regarded as investment/trading advice. All the information is believed to come from reliable sources. BitvestMint llc does not warrant the accuracy, correctness, or completeness of information in its analysis and therefore will not be liable for any loss incurred.
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