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September 5th, 2017- In This Issue:
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AAHHH!! THE SKY IS FALLING, THE SKY IS FALLING!
BITCOIN DROPS OVER $600 FROM
THE
ALL TIME HIGH
PRICE OF $5,000!
Well here we have it, once again the headlines decry the death of bitcoin.
Between the negative articles regarding the ICO market, China's ban on the initial coin offerings, a tiny little bit of profit taking, and sell orders triggered at $5,000, all of a sudden bitcoin is the worst investment ever...
Or is it?
For those of you that have been around bitcoin for any length of time, this kind of knee jerk reaction is something you are used to, how many times has bitcoin been declared dead already? (visit
https://99bitcoins.com/bitcoinobituaries/) to read the stories going back as far as 2010 when it was only 23 cents. Bitcoin has been pronounced dead 156 times since then.
Had you bought bitcoin on the heels of any of those articles you'd a have made somewhere between a huge fortune to a hefty profit.
Of course timing is everything in any investment and often times the best time to buy is when the negative news depresses prices offering the smart money a chance to buy low.
That's our advice as it has been every single time another RIP headline about bitcoin emerged.
So take advantage of the dip in prices, as far as we are concerned bitcoin is on sale for a limited time only..
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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| Bitcoin Breaks $5,000 in Latest Price Frenzy |
The price of the world's best known digital currency briefly crossed the $5,000 mark on a major index for the first time on Friday evening ET, before retreating about 5% in subsequent hours.
The idea of Bitcoin breaking the symbolic milestone of $5,000 would have been unthinkable to most people at the start 2017, when the price topped
$1,000 for the first time. If you're keeping track, the digital currency is up 500% this year, and nearly 2200% since mid-2015, when it was in the doldrums at around $220.
Read More...
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By now, many Bitcoin enthusiasts are trying to work out a realistic projection for Bitcoin over the next few years.
From analyst Ronnie Moas who sees a
$15,000-$20,000 value by late 2020 to independent views that point
at $1 mln per Bitcoin, some of these predictions seem outrageous and outright impossible.
Following the activation of the SegWit protocol and early testing of the Lightning Network that SegWit enables, the Bitcoin market has been gradually edging to a capitalization of almost $80 billion. Bitcoin's market capitalization is now
about 50% of the entire crypto market and has now exceeded 1% of gold's estimated $7 tln market cap. Bitcoin is nearly half of Visa's $200 bln cap.
Read More...
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Uncertainty Lingers In China as ICO Exchanges Begin Customer Refunds
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That's how James Gong, founder of ICOage, described Monday, the day on which seven China-based regulators took
sweeping action against domestic initial coin offerings (ICOs), the
nascent funding mechanismhis startup was founded to enable.
In a broad series of releases unrivaled so far globally, China's regulators took aim at all aspects of the market, calling on exchanges cease the trading of ICO tokens and demanding that platforms issue refunds to select customers.
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Bitcoin took Warren Buffett to the cleaners last year.
In fact, forget last year - Bitcoin has beaten the billionaire investor two years in a row!
Don't believe me? Let me show you.
Investors in Warren Buffett's company Berkshire Hathaway (NYSE: BRK.A) faced a 12% loss in 2015. In the same time period, Bitcoin made investors 34% gains.
In 2016, Bitcoin did it again, doubling its value with gains of 122%. Meanwhile, Berkshire Hathaway made investors a mediocre 25%.
Perhaps calling 25% gains mediocre is a bit harsh, but it's important to point out that
Bitcoin more than doubled that number.
And the digital currency isn't slowing down.
Since the start of 2017, Bitcoin has made investors gains upward of 360%.
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Bitcoin Price Drops to $4,300, What's Next: Factors and Trends
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Subsequent to achieving a new all-time high at $4,975 merely two days ago,
Bitcoin price has decreased to around $4,350.
Many analysts including Welt financial desk senior editor Holger Zschaepitz attributed the decline in Bitcoin price to China's recent crackdown on initial coin offerings (ICOs).
Over the past week, prominent financial analysts such as RT's Max Keiser predicted
Bitcoin price to increase at an exponential rate in consideration of the successful integration of the Bitcoin Core development team's transaction malleability and scaling solution Segregated Witness (SegWit).
Through SegWit, the Bitcoin network has already shown tremendous progress in terms of scaling, reducing its average block size to 0.8 MB and its mempool size from over 140 mln to 10 mln bytes.
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Bitcoin Will Hit $5 Trln Market Cap: Aaron Lasher
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Digital currency wallet Breadwallet co-founder and chief marketing officer (CMO), Aaron Lasher, has projected that the leading cryptocurrency Bitcoin will reach a market capitalization (cap) of up to $5 trln in the next 10 years as of early September 2017, according to
Market Watch.
However, he claimed that the digital currency can experience some setbacks along the way.
In an interview, Lasher claimed that the current exemplary performance of
Bitcoin
and other virtual currencies could be followed by a very brutal bear market.
"As a longtime Bitcoin holder, I'm greatly enjoying the recent price action, even though I understand that this bull market will likely be followed by a pretty brutal bear market. Are cryptos in a bubble? Yes, absolutely. Is that a bad thing? Not necessarily."
Read More...
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Bitcoin Cash Price Drops Below $500 on Chinese Exchanges
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The bitcoin cash price dropped below $500 on Chinese exchanges on Tuesday following investor panic about the Chinese ban of initial coin offerings (ICOs).
The ban, which was
announced by the People's Bank of China (PBoC) earlier this week, bars Chinese citizens and residents from hosting or participating in ICOs. The ruling further ordered groups that have already completed ICOs to return the funds to investors. Panic ensued, and traders initiated a
massive sell-off that extended far beyond the cryptocurrencies
directly affected by the PBoC ruling, including bitcoin cash.
Read More...
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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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