Keiser Envisions $100,000 Bitcoin High
While the price of multiple cryptocurrencies continue to see their values soar, the current price of Bitcoin suggests it is still very much the father of digital money. Max Keiser, host of Russia Today’s Keiser Report, agrees, and believes that Bitcoin will ultimately reach a price of $100,000.
The price of Bitcoin hit an all time high over the weekend - moving past the $8,000 mark following an uncertain couple of months that had the SegWit2x fork hanging over the markets like a dark cloud. Yesterday, Bitcoin continued its rise, nearly touching $8,400 and establishing another all time high.
Keiser believes that Bitcoin’s ability to survive numerous changes and countless altcoin competitors proves it is the most dependable cryptocurrency:
"“Bitcoin will dominate and lead crypto going forward. Hundreds of obituaries have been written about Bitcoin and none of them have come true and none will. Fact is, Bitcoin is a gift from God to help humanity sort out the mess it has made with its money.”"
Full story at http://bit.ly/2jVGSqB
Source: CoinTelegraph
Bitcoin rally may continue — but is it driven more by high-school dropouts than fundamentals?
On price dynamics alone, bitcoin BTCUSD, +1.68% looks like a sure bubble — a disaster waiting to happen. But bitcoin dynamics are basically not suited for any empirical analysis of any significant accuracy.
As noted by some commentators, bitcoin had numerous 80% to 90% and larger drawdowns in the past, given its immense volatility. It keeps coming back from these. Some claim this to be the evidence that bitcoin it not a bubble. Which is neither here nor there: bubbles are generated by exuberant expectations of investors, not by actual parameters of price processes. Causality does not flow from dynamics to bubbles, but the other way around. So to identify a bubble, one needs to identify exuberance.
In the case of bitcoin fans, there is clearly such.
No investor or serious analyst has been able to provide a fundamentals-based valuation model for bitcoin.
Full story at http://on.mktw.net/2k118Y5
Source: MarketWatch
Wealth Managers Are Being Inundated With Calls About Bitcoin
At 74, Cumberland Advisors’ David Kotok has guided wealthy clients through a long career’s worth of bubbles and crashes. Now he’s being inundated with questions about the latest soaring asset to confound investors -- bitcoin.
“Clients bring up bitcoin all the time,” said Kotok. “They think it’s cool. It has the newness, which is attractive to some people, though others would say newness is a risk they don’t want to take.”
Wealth managers across the U.S. are fielding calls and emails from clients worried they’re missing out on something big by not owning bitcoin. While most advisers don’t recommend buying such a volatile asset with no intrinsic value, they do have tips for clients who have taken the plunge, or are dead set on doing so.
The cryptocurrency has been whipsawing Wall Street: UBS Group AG, the world’s largest wealth manager, is shunning bitcoin allocations because of a lack of government oversight, while Michael Novogratz is starting a $500 million hedge fund to wager on digital assets. As bitcoin mania moves to Main Street, thanks to its spectacular rise from about $750 to $8,200 in a year, five advisers offer some suggestions.
Full story at https://bloom.bg/2jZUfpT
Source: Bloomberg
Do you own bitcoin? You could soon have some without even knowing it.
First they ignore you, then they laugh at you, then they fight you, then they invest in you.
That's the scene that bitcoin investors and enthusiasts are facing. After years as an underground digital currency and a running joke in the world of finance, bitcoin is suddenly attracting attention from the people who once called it a scam: the big institutions of finance, who collectively control trillions of dollars.
And it might not even be a matter of "if." It's now just a matter of "when."
“The institutionalization of this space is coming. It’s coming pretty quick,” former hedge fund manager Michael Novogratz said at a recent conference.
Full story at http://on.mash.to/2jXOnxg
Source: Mashable
The Next Generation of Cryptocurrency Hardware: Advanced ATMs
“Cash is king” as they say, and this saying emphasizes the importance of liquidity in any financial system. Even if Bitcoin is progressing at a quick pace in value and altcoins are being developed to satisfy a myriad of business uses, the whole crypto industry (and especially mainstream user adoption) hinges on the ability to make transactions easy and secure.
This is part of the motivation for the recently planned Bitcoin fork, the Raiden and Lightning Networks and other projects that seek to make using cryptocurrencies easier. But for many, especially those new to cryptocurrencies, the ease of a fiat ATM is something cryptocurrencies can’t match.
Not only do cryptocurrency ATMs have a high rate of fees involved, but they also often don’t have many options for different currencies and also have limits on how much they can be used for. Some ATMs can also only be used for buying crypto.
A European company have what they believe is a game changer of an advancement in ATMs for cryptocurrencies. They are leveraging different efficiencies in exchanges and hardware to reduce fees and make cryptocurrencies easier to obtain for mainstream users. Cointed is a platform that encompasses ATMs, an exchange, a debit card and Point of Sale solutions for a different experience.
Full story at http://bit.ly/2k11eip
Source: CryptoCoinsNews
Wall Street strategist Tom Lee raises bitcoin forecast, now predicts 40% rise
After turning cautious on bitcoin earlier this month, Fundstrat's Tom Lee told clients Wednesday to jump back into the digital currency.
"A few weeks ago, we turned short-term neutral on bitcoin as the price level then (~$7400) exceeded our estimate of fair value," Lee wrote in the report. "Last week, Bitcoin fell to $5,600 and since then rebounded. In our view, this move to $5,600 cleaned up weak hands and we no longer feel caution is warranted. … We recommend steady buying of Bitcoin at these levels."
As a result, the strategist raised his mid-2018 price target for bitcoin to $11,500 from $6,000, representing nearly 40 percent upside to its current level.
Lee is bullish on the crypotcurrency because of his forecasts for strong growth in the number of bitcoin accounts and transaction dollar volume per account. He noted how Coinbase has more than 14 million accounts.
Full story at http://cnb.cx/2k11jCJ
Source: CNBC
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