Bitcoin Development Similar to 1800s Gold Rush

Present day Bitcoin and altcoin development appear to be recounting a theory that played out in the early mining industry.

As was the pattern during the actual gold rush of the 1800s, while some people took the risk and spent their time looking for gold, other folks watched on non-judgmentally and lucratively supplied the "picks and shovels" that enabled the fever-pitched masses to take a shot at "striking it big."

Drawing on some similarities and contrasts between the actual "gold rush" and the new "digital gold rush" provides a good framework to describe how industries today are being impacted by Bitcoin.

Bitcoin evangelist and technologist Melvin Petties explains how the emergence of Bitcoin has given rise to different kinds of related endeavors, pointing out the attitude of some key players and the impact on the crypto ecosystem.

6 Factors Pushing Bitcoin Prices Higher in 2017

For newcomers to the market looking to make a quick win, the rollercoaster of a year has probably been a time of scratching heads and possibly a few tears shed. For the long-term investor, however, these periods are part of the journey and opportune times to snap up some more coins when the price takes a dip.

Despite the precautionary cries of 'bursting bubbles', these market corrections are an anticipated occurrence.

These short-lived 'crashes' are momentary.

Here at Bitstocks, we maintain our prediction of a $3,000(+) Bitcoin by the end of the year.

Buying bitcoin to fund retirement?

Make sure it fits plans

Average investors are often accused of buying high and selling low.

And that may very well be the case for investors who are jumping on the bitcoin bandwagon. Bitcoin, a digital currency, has doubled and then some since the start of 2017 (it's risen from $1,016.30 on Jan. 2 to $2,469.38 as of June 16) and many investors are taking note that a $1,000 investment in bitcoin in 2010 would now be worth $35 million

To be sure, many experts, including Goldman Sachs, are turning bearish on the digital currency at its current price. But that hasn't stopped investors from asking the question: What about the long-term? Should I invest in bitcoin in my accounts earmarked for retirement, which could be decades away and then last for decades?

Does it fit in your portfolio?

In the main, as with any investment, experts say investors should evaluate the pros and cons. What's more, investors should take the very same approach to investing in bitcoin as they would any other investment: Evaluate whether it meets the criteria established in your investment policy statement, which outlines your time horizon, risk tolerance and investment objective.

Bitcoin Bull Novogratz Unfazed as Cyberattacks
Resume Globally

Michael Novogratz says cryptocurrencies could be worth north of $5 trillion in five years -- if the industry can come out of the shadows.

"The Nasdaq got to $5.4 trillion in 1999, why couldn't it be as big?" the former hedge fund manager said in an interview, referring the Nasdaq Composite Index. "There's so much human capital and real money being poured into the space and we're at the takeoff point."

To get there, though, companies need to develop sound business principles to satisfy regulators and lend legitimacy to the budding industry, one of Wall Street's biggest bitcoin bulls said Tuesday at the CB Insights Future of Fintech conference in in New York.

SEC is Still Eyeing to Regulate the ICO Market

US Securities and Exchange Commission is still eyeing to enforce regulations to Blockchain companies engaged in ICO.

With the increase of Blockchain start-ups crowdfunding their projects through ICO, Blockchain experts are worried that the lack of transparency with regards to the issuance of such coins could pose dangers to investors and may be a cause of concern for government regulators as ICOs are " high on radar" of regulators.

According Reuters, Securities and Exchange Commission "is said to be taking a hard look at the increased use of such offerings, with the growth of so-called ICOs surging in recent months."

With its virtual nature, ICO is likely and can possibly be used for money laundering activities , which makes regulating bodies such as SEC to look into it closely.