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August 21st, 2017- In This Issue:
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BITCOIN HOLDING STEADY @ $4,000
Where's it going next? Probably to test $3,600, but possibly to the moon!
Speaking of the moon, happy eclipse day, I hope nobody stared directly at it, not sure everyone got the message not to look without proper eye protection.
But seriously folks, we have had a difficult weekend with the upstart "altcoin" B-cash doing everything they could to instill uncertainty into the market, yet bitcoin is still trading within a few percentage points of its all time high achieved just last Thursday.
As far as advise goes, buy more bitcoins whenever you can with what ever means you have available, buy them from us, buy them from Coinbase, buy them from your local bitcoin dealer, but whatever you do keep buying them. One day you will look at them as the smartest investment you have ever made.
Review the articles below to find some answers to what's been driving the market since our last letter.
Good luck and happy trading!
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 Not Going Away, Forks Are FUD Projects: Oleg Andreev |
Chain architect and entrepreneur Oleg Andreev has said that in spite of "FUD," markets have accepted Bitcoin is "not going away."
In a series of tweets outlining the short-term prospects for the BTC chain, Andreev demonstrated
recent price action was to an extent due to various industry actors' decisions.
"At this point (2016-2017) it's pretty much settled that Bitcoin is not going away and must be owned, a lot," he wrote.
Optimism from throughout the cryptocurrency industry and beyond over BTC's long-term price has come despite concerns that two hard forks will damage its reputation.
The advent of Bitcoin Cash (BCH)
did little to affect BTC's price despite its continued volatility, but tensions are already rising over SegWit2x's fork in November.
Considering these alternate 'versions' of Bitcoin, Andreev dismissed them as nothing more than "FUD" which would eventually subside, allowing BTC's price to "go up like crazy."
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Wall Street Strategist Predicts Bitcoin Price to Reach $6,000 By This Year and $25,000 By 2022
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One of the biggest bear analysts on Wall Street, Tommy Lee, has maintained his bullish outlook for Bitcoin over the next five years.
The founder of
Fundstrat, one of the largest independent research and analysis firms, has
repeated his projection of $6,000 for this year, and $25,000 by 2022 in spite of recent dips,
according to Business Insider.
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| Now's The Time For Gold - And Bitcoin |
The time for gold and Bitcoin is right now, despite both of these "safe haven" assets already moving to recent highs over the last couple of weeks. We believe both assets will continue to move higher and that this is the time to have exposure to both of them.
The market experienced more jitters this week, just days after we wrote an article suggesting that it could be on a hairpin trigger to the downside. Volatility continued this week, first on a rumor that Gary Cohn was resigning. Even though this rumor was proven to be false, according to official statements released by the White House, the market was unable to bid back all of the ground it had lost when the rumor first hit. This inability to take back the ground it had lost after the rumor was proven to be false shows us that the market may have a little more of a bias to the downside at this point.
Read More...
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| Former Harvard Money Manager Sees Future in Hedging Bitcoin |
In its essence, Ethereum extended over the Bitcoin payment mean, by adding a rich programming language enabling the execution of smart contracts.
While this innovative technology attracted a great deal of crypto-enthusiasts that saw in it great potential, it also became home to cybercrime in a significant way.
As it is often the case with new technologies, hackers embraced it and stole millions of dollars in the past years.
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Bitcoin Cash Wins Mining Power as Price Falls Back Below $600
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Bitcoin may be winning the battle for investment dollars, but when it comes to attracting mining power, competition is heating up.
After the bitcoin cash blockchain experienced a major
adjustment this weekend, the less than one-month-old cryptocurrency has seen a dramatic reduction in mining difficulty, and perhaps more crucially, an increase in its profitability for those
providing computing power
as a means to secure its ledger.
At press time, bitcoin cash has now attracted
nearly 30%
of the mining power of the bitcoin network, a figure that is up from just 5% two days earlier.
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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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