The first batch of CME Bitcoin Futures has expired as of 8am UTC. Previously, CBOE Bitcoin Futures expired on January 17th at $10.9k. From here on out, expect the entire market sentiment to be extremely bullish. The Coincheck hack, the largest theft in human history at $723mil USD, only led to a brief Bitcoin price dump to $8k USD before quickly correcting. The market has seemed to grown immune to FUD and most likely is about to enter the next major bull market.
Unlike the past few months, Altcoin movements are now following Bitcoin movement. Previously, any sort of Bitcoin price movement would stunt altcoin growth, but now the entire market seems to be moving together. New ICOs are also performing incredibly well, quickly hitting 10-20x after exchange listings. The year has only just begun, but Q1 and Q2 2018 should be some of the most profitable quarters ever for cryptocurrency.
The recent Weiss cryptocurrency ratings were heavily criticized for their lack of legitimacy and poor metrics. However, they are another clear indication of the legitimization of cryptocurrency. As mentioned before, "no one has ever seen so much money leaving wall street to enter a different asset class." Expect a lot more formal regulation to come in place this year, as well as the cryptocurrency marketcaps hitting new ATHs, easily surpassing $1 Trillion USD.
Unlike the past few months, Altcoin movements are now following Bitcoin movement. Previously, any sort of Bitcoin price movement would stunt altcoin growth, but now the entire market seems to be moving together. New ICOs are also performing incredibly well, quickly hitting 10-20x after exchange listings. The year has only just begun, but Q1 and Q2 2018 should be some of the most profitable quarters ever for cryptocurrency.
The recent Weiss cryptocurrency ratings were heavily criticized for their lack of legitimacy and poor metrics. However, they are another clear indication of the legitimization of cryptocurrency. As mentioned before, "no one has ever seen so much money leaving wall street to enter a different asset class." Expect a lot more formal regulation to come in place this year, as well as the cryptocurrency marketcaps hitting new ATHs, easily surpassing $1 Trillion USD.
Dear Reader,
Friends, there is nothing insignificant about a large pullback when you are going through it.
That said, I just shot a quick video to illustrate how insignificant these pullbacks look once a little time has passed. Hopefully, this video will provide you much-needed perspective on how you should view the recent market action.
So, what’s causing this recent spate of selling? And should we be paying attention to it?
Here’s what’s happening:
Right now, the crypto market is fixated on recent developments involving Tether (USDT).
Tether is a “stable” coin that claims to be backed by dollars. It claims that for every tether in the market, it has an actual dollar bill in a vault somewhere.
Let me be clear: I HAVE NEVER BELIEVED THAT CLAIM. That’s why I never recommended the token.
However, many people do use Tether. At last count, there are more than $2.3 billion worth of tethers.
Here’s why folks are worried…
Tether received two subpoenas from the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC). Plus, its audit firm recently quit. The market is now afraid Tether may be a fraud.
No one knows what the implications of a Tether fraud would be. Just like in the stock market, uncertainty breeds doubt, and doubt leads to weak hands selling.
So, what should we do?
The answer is nothing. Absolutely nothing.
In any market, there will always be scandals, bad news, and busybody regulators. This is the nature of markets. Our focus is squarely on riding the long-term trend.
And, friends, regardless of Tether fears, meddling regulators, or the threats of central banker and government clampdowns… the long-term trend of crypto assets is solidly higher.
Markets fluctuate. That’s what they do. Sitting and worrying about Tether won’t do a darn good thing for you.
Don’t let the market rob you of the joy of living. So, get out there, go take your significant other out on a date, hug your grandchildren, and get busy doing something fun.
Friends, there is nothing insignificant about a large pullback when you are going through it.
That said, I just shot a quick video to illustrate how insignificant these pullbacks look once a little time has passed. Hopefully, this video will provide you much-needed perspective on how you should view the recent market action.
So, what’s causing this recent spate of selling? And should we be paying attention to it?
Here’s what’s happening:
Right now, the crypto market is fixated on recent developments involving Tether (USDT).
Tether is a “stable” coin that claims to be backed by dollars. It claims that for every tether in the market, it has an actual dollar bill in a vault somewhere.
Let me be clear: I HAVE NEVER BELIEVED THAT CLAIM. That’s why I never recommended the token.
However, many people do use Tether. At last count, there are more than $2.3 billion worth of tethers.
Here’s why folks are worried…
Tether received two subpoenas from the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC). Plus, its audit firm recently quit. The market is now afraid Tether may be a fraud.
No one knows what the implications of a Tether fraud would be. Just like in the stock market, uncertainty breeds doubt, and doubt leads to weak hands selling.
So, what should we do?
The answer is nothing. Absolutely nothing.
In any market, there will always be scandals, bad news, and busybody regulators. This is the nature of markets. Our focus is squarely on riding the long-term trend.
And, friends, regardless of Tether fears, meddling regulators, or the threats of central banker and government clampdowns… the long-term trend of crypto assets is solidly higher.
Markets fluctuate. That’s what they do. Sitting and worrying about Tether won’t do a darn good thing for you.
Don’t let the market rob you of the joy of living. So, get out there, go take your significant other out on a date, hug your grandchildren, and get busy doing something fun.
Bittrex will be supporting USD pairs, possibly removing USDT pairs.
https://twitter.com/rahulsood/status/958730989940781057
https://twitter.com/rahulsood/status/958730989940781057
Twitter
Rahul Sood 🦄
Icymi @BittrexExchange CEO Bill Shihara announced upcoming USD pairings. Listen to UnikrnRadio: Bittrex CEO Bill Shihara + Rahul Sood by UnikrnRadio https://t.co/gRI5RWdeDc #BITTREX #Tether #Ethereum #Bitcoin #Blockchaim #Cryptocurrency
ICBC, the largest bank in China and Globally, and CCB, the third largest bank in China, have been reported transporting Crypto ATMs across the country. These two banks are part of the "Big Four" state-owned banks in China.
Livestream — Virtual Currencies: The Oversight Role of the U.S. Securities and Exchange Commission and the U.S. Commodity Futures Trading Commission.
https://www.banking.senate.gov/public/index.cfm/hearings?ID=D8EC44B1-F141-4778-A042-584E0F3B9D39
https://www.banking.senate.gov/public/index.cfm/hearings?ID=D8EC44B1-F141-4778-A042-584E0F3B9D39
Обращение Тиики к своим подписчикам и рассуждения о нынешней ситуации и о ближайшем будущем.
Why Fear in the Crypto Market Is Overblown
By Teeka Tiwari
You’d have to be living under a rock not to know about the vicious sell-off currently going on in the cryptocurrency market.
But what you might not know is that this type of volatility isn’t new.
Even as recently as last March and September, we dealt with similar market meltdowns. What was especially tough for us was that our most important positions actually ended up dropping far lower than the general market.
At certain periods last year, we experienced peak-to-valley drops of:
65% in Monero
73% in NEO
67% in Ethereum
90% in BitShares
66% in Ripple
68% in NEM
It was a bloodbath.
Hackers attacked Ethereum—my most important position… and the one I had staked my reputation on—every day. I can’t count how many times Ethereum forked its code to deal with various attacks.
Aside from the normal angry emails we receive when prices are tanking, I received many mocking emails from “friends” reveling in my perceived “misery.” More than one person asked, “How are your ‘tulip bulbs’ doing?”
Then, like now, I knew the slings and arrows of the market would ultimately strengthen the entire crypto asset ecosystem.
Whether it was hackers trying to destabilize the Ethereum network or the Chinese government trying to ban exchanges, I’ve always known that the decentralized nature of crypto assets makes them very resilient to external threats.
That resiliency is what attracted me to bitcoin in the first place.
For example, in 2013, the Chinese government banned its banks from dealing with bitcoin. This was at a time when 90% of all bitcoin mining and the majority of bitcoin activity took place in China.
On top of that, hackers broke into the world’s largest bitcoin exchange at the time (Mt. Gox) and stole nearly 850,000 bitcoin.
Bitcoin dropped 80%… But it still refused to die.
When I finally became convinced to buy bitcoin in early 2016, it was at $450 and had a $6.6 billion market cap.
I knew that any asset class that could survive so much negativity had to have long-term value. Since then, of course, bitcoin has been as high as $20,000.
Now that bitcoin has dropped to about $7,000, does that mean the party is over?
Technology Has a History of Fits and Starts
I’ve been fortunate enough to meet many bitcoin millionaires—some now billionaires—who lived through bitcoin’s 80% drop in 2013.
I asked them what kept them in bitcoin through the negativity. After all, they had made fortunes from bitcoin… So why stick around?
What separated them from the hordes of “investors” who sold was their unswerving belief that the world needed a practical alternative to fiat currency.
Bitcoin is the first currency that can’t be devalued by a government. It’s the first asset that we’ve had complete ownership over.
It’s the most difficult asset to seize in the world. Barring torture, there isn’t a government in the world that can take your bitcoin from you (assuming you’ve stored it securely). That makes bitcoin—and crypto assets overall—unique.
In my opinion, bitcoin’s unique qualities will continue to create value for its holders. But it won’t move in a straight line. No asset ever moves in one direction.
Even the biggest stock winners of the last two decades—Microsoft, Apple, Google, and Facebook—had long periods of price drops, price consolidations, and fears about their long-term viability as businesses.
In the 1990s, the government tried to break up Microsoft. Apple traded for barely the cash on its balance sheet in 2003 as people failed to see the significance of the iPod. In 2007, Google dropped 70% as investors thought it couldn’t survive the Great Recession. And Facebook dropped 50% right out of the gate when it went public.
Just like those tech giants, bitcoin and crypto assets are now under a global microscope.
More Scrutiny Is Not a Bad Thing
China wants nothing to do with cryptocurrencies. And banks are banning the use of credit cards to purchase them. (That’s actually good news. As I’ve said before, you should never borrow money to fund a crypto investme
By Teeka Tiwari
You’d have to be living under a rock not to know about the vicious sell-off currently going on in the cryptocurrency market.
But what you might not know is that this type of volatility isn’t new.
Even as recently as last March and September, we dealt with similar market meltdowns. What was especially tough for us was that our most important positions actually ended up dropping far lower than the general market.
At certain periods last year, we experienced peak-to-valley drops of:
65% in Monero
73% in NEO
67% in Ethereum
90% in BitShares
66% in Ripple
68% in NEM
It was a bloodbath.
Hackers attacked Ethereum—my most important position… and the one I had staked my reputation on—every day. I can’t count how many times Ethereum forked its code to deal with various attacks.
Aside from the normal angry emails we receive when prices are tanking, I received many mocking emails from “friends” reveling in my perceived “misery.” More than one person asked, “How are your ‘tulip bulbs’ doing?”
Then, like now, I knew the slings and arrows of the market would ultimately strengthen the entire crypto asset ecosystem.
Whether it was hackers trying to destabilize the Ethereum network or the Chinese government trying to ban exchanges, I’ve always known that the decentralized nature of crypto assets makes them very resilient to external threats.
That resiliency is what attracted me to bitcoin in the first place.
For example, in 2013, the Chinese government banned its banks from dealing with bitcoin. This was at a time when 90% of all bitcoin mining and the majority of bitcoin activity took place in China.
On top of that, hackers broke into the world’s largest bitcoin exchange at the time (Mt. Gox) and stole nearly 850,000 bitcoin.
Bitcoin dropped 80%… But it still refused to die.
When I finally became convinced to buy bitcoin in early 2016, it was at $450 and had a $6.6 billion market cap.
I knew that any asset class that could survive so much negativity had to have long-term value. Since then, of course, bitcoin has been as high as $20,000.
Now that bitcoin has dropped to about $7,000, does that mean the party is over?
Technology Has a History of Fits and Starts
I’ve been fortunate enough to meet many bitcoin millionaires—some now billionaires—who lived through bitcoin’s 80% drop in 2013.
I asked them what kept them in bitcoin through the negativity. After all, they had made fortunes from bitcoin… So why stick around?
What separated them from the hordes of “investors” who sold was their unswerving belief that the world needed a practical alternative to fiat currency.
Bitcoin is the first currency that can’t be devalued by a government. It’s the first asset that we’ve had complete ownership over.
It’s the most difficult asset to seize in the world. Barring torture, there isn’t a government in the world that can take your bitcoin from you (assuming you’ve stored it securely). That makes bitcoin—and crypto assets overall—unique.
In my opinion, bitcoin’s unique qualities will continue to create value for its holders. But it won’t move in a straight line. No asset ever moves in one direction.
Even the biggest stock winners of the last two decades—Microsoft, Apple, Google, and Facebook—had long periods of price drops, price consolidations, and fears about their long-term viability as businesses.
In the 1990s, the government tried to break up Microsoft. Apple traded for barely the cash on its balance sheet in 2003 as people failed to see the significance of the iPod. In 2007, Google dropped 70% as investors thought it couldn’t survive the Great Recession. And Facebook dropped 50% right out of the gate when it went public.
Just like those tech giants, bitcoin and crypto assets are now under a global microscope.
More Scrutiny Is Not a Bad Thing
China wants nothing to do with cryptocurrencies. And banks are banning the use of credit cards to purchase them. (That’s actually good news. As I’ve said before, you should never borrow money to fund a crypto investme
nt.)
This week, two federal agencies—the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC)—are preparing to send reports to Congress about crypto assets.
Even the G20 (a group of 19 major national economies and the European Union) is threatening to take cryptos more seriously.
All of this scrutiny has people scared that we’ll see a coordinated global effort to snuff out bitcoin and crypto assets.
I believe this fear is overblown.
Global governments have much bigger problems than bitcoin. The idea that they’ll all join hands and put their differences aside in the relentless pursuit of crushing bitcoin appears farfetched to me.
Instead, we’re seeing the maturing of the crypto asset class.
None of this is inherently bad. For cryptos to make the leap to a multitrillion-dollar asset class… some form of regulatory framework must be in place.
I think it’s an overreaction to assume that all governments want to destroy the crypto asset market.
Even if they wanted to, the decentralized nature of bitcoin and other crypto assets makes it impossible for governments to eliminate them (just ask China).
Governments can certainly make things more difficult by shutting down the exchanges. But as we’ve already seen, even when the most important market in the space—China—decided to shut down its exchanges, other countries such as Japan welcomed the Chinese exchange operators with open arms.
The Crypto Genie Is Out of the Bottle
Governments can wail and gnash all they want… but nothing will remove cryptos from the market. The asset class is here to stay. And I think U.S. regulatory bodies understand this reality.
That’s why I think the CFTC and SEC hearings will be more concerned with curtailing initial coin offering (ICO) fraud than trying to kill all things crypto-related.
The CFTC approved bitcoin futures this past December. It would hardly make sense for it to greenlight futures and then expend resources to destroy the asset class.
That’s why I think the current regulatory fears washing through the crypto markets are overblown. Just like they were during the many scary periods I went through with crypto in 2017.
Then, like now, I offered the same advice: Make sure you have rational position sizes. Stop checking prices. Don’t worry about how long this sell-off will last. No one can answer that question with anything more than a guess. (That said, I’m currently working on an essay that will offer my best guess.)
I’ll leave you with this…
The biggest mistake I made in the decades of the late 1980s and ’90s was to underestimate just how powerful an impact technology would have on the future. I under-owned—and sold too quickly—some of the biggest winners of the past 25 years.
I’m not going to make that mistake twice.
The blockchain and crypto assets are a new breed of technology that will have as much (if not more) of an impact on the world as the tech companies of the 1980s and 1990s have today.
Let the Game Come to You!
Big T
This week, two federal agencies—the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC)—are preparing to send reports to Congress about crypto assets.
Even the G20 (a group of 19 major national economies and the European Union) is threatening to take cryptos more seriously.
All of this scrutiny has people scared that we’ll see a coordinated global effort to snuff out bitcoin and crypto assets.
I believe this fear is overblown.
Global governments have much bigger problems than bitcoin. The idea that they’ll all join hands and put their differences aside in the relentless pursuit of crushing bitcoin appears farfetched to me.
Instead, we’re seeing the maturing of the crypto asset class.
None of this is inherently bad. For cryptos to make the leap to a multitrillion-dollar asset class… some form of regulatory framework must be in place.
I think it’s an overreaction to assume that all governments want to destroy the crypto asset market.
Even if they wanted to, the decentralized nature of bitcoin and other crypto assets makes it impossible for governments to eliminate them (just ask China).
Governments can certainly make things more difficult by shutting down the exchanges. But as we’ve already seen, even when the most important market in the space—China—decided to shut down its exchanges, other countries such as Japan welcomed the Chinese exchange operators with open arms.
The Crypto Genie Is Out of the Bottle
Governments can wail and gnash all they want… but nothing will remove cryptos from the market. The asset class is here to stay. And I think U.S. regulatory bodies understand this reality.
That’s why I think the CFTC and SEC hearings will be more concerned with curtailing initial coin offering (ICO) fraud than trying to kill all things crypto-related.
The CFTC approved bitcoin futures this past December. It would hardly make sense for it to greenlight futures and then expend resources to destroy the asset class.
That’s why I think the current regulatory fears washing through the crypto markets are overblown. Just like they were during the many scary periods I went through with crypto in 2017.
Then, like now, I offered the same advice: Make sure you have rational position sizes. Stop checking prices. Don’t worry about how long this sell-off will last. No one can answer that question with anything more than a guess. (That said, I’m currently working on an essay that will offer my best guess.)
I’ll leave you with this…
The biggest mistake I made in the decades of the late 1980s and ’90s was to underestimate just how powerful an impact technology would have on the future. I under-owned—and sold too quickly—some of the biggest winners of the past 25 years.
I’m not going to make that mistake twice.
The blockchain and crypto assets are a new breed of technology that will have as much (if not more) of an impact on the world as the tech companies of the 1980s and 1990s have today.
Let the Game Come to You!
Big T
Основная рекомендациия pbc:
Recommendation: Buy GIFTO (GTO)
Buy-up-to Price: $0.80
Stop Loss: None
Buy It On: Binance
Store It On: MyEtherWallet
Recommendation: Buy GIFTO (GTO)
Buy-up-to Price: $0.80
Stop Loss: None
Buy It On: Binance
Store It On: MyEtherWallet
Впредь тут будет появляться свежий выпуск переведённый профи на рус язык. Знаменитого Блогера Картера Томоса .
Читайте сутра вместо газетки))
Читайте сутра вместо газетки))