Bitcoin dead or is now the time to invest?

The current state of the market, which has been dubbed «the cryptocurrency of the winter,» causing of a considerable number of investors two questions: «Who is to blame?» and «What to do». According to analyst Phillip Nunn, if you recently saw the price of bitcoin at $3500, you shouldn’t complain about why it’s so low, and I wonder whether ever in the history of cryptocurrency such a situation, so that it can be bought for little money? Crypto-enthusiast, Bobby Lee, brother of Tom Lee, founder of Fundstrat Global Advisors, this drew attention to the fact that buying cryptocurrencies in this market is not easy, as it is easy to feel «black sheep» when most of the sprinkles ashes on the head and sells kryptonite. All this is a reasonable assertion, but whether they take heed of the current and potential investors in cryptocurrency?

The negativity in the media «crushed» bitcoin

Upon review of bitcoin shows enviable zero correlation with many market settings, however, the impact of media publications on investor sentiment can hardly be overestimated.

Thus, the company Clovr summarized research articles about cryptocurrencies that are coming out in 2013 and the beginning of autumn. Just the focus of attention was 7500 publications. It turned out that for three consecutive years, until the beginning of 2017, positive publications about the cryptocurrency was more than neutral or negative. However, in the first months of last year began a gradual «colouring» of most of the articles in a neutral color, and when cryptocurrencies went to historical highs, «black paint» of negativity began to take more and more place. In the future, the decline of crypto-currencies was accompanied by an increase in such negative light.

Classical financial world is ready for its disappearance

What does it mean? If a long time has been positive, even in classic media, then it has changed to negative. It is possible for the reason that to the world of traditional Finance came to understand that cryptocurrency is not just transforming the force, and disruptive, that is not «transformative», and «destroying» the principles of classical Finance.

What it is, a recent study sentiment in the banking environment in Belgium — a key European Finance for the country. It was found that 62% of bankers believe that the banks in the near future, may simply disappear as unnecessary, and the whole range of financial services will move on a decentralized platform. This kind of research are hardly ever on the pages of leading business Newspapers and magazines of the world, even despite the fact that in this case, for example, it stands for influential national Bank of Belgium.

Society is set up for cryptocurrency, but not necessarily bitcoin

Meanwhile, various polls show that the global community has matured a huge demand for change that are expected from classic financial markets. Generation Z, that is, those who are now no more than 22 years, most clearly demonstrates his rejection of working with traditional financial institutions, including banks with their Bank cards.

However, such sentiments have increasingly become mainstream, even if the key business publications in the world, «not notice» this. A large survey in the Twitter account of former US Senator Ron Paul participated 94,894 person, of which only 2% have declared that are ready to accept US dollars as an investment against the present 50% in favour of bitcoins as a symbol of crypto-currencies (other cryptomonad option was not offered). Analyst Ren Neuner, conducted a similar survey, but adding different cryptomonad, received responses from 15,816 people, 93% of whom chose to have any cryptocurrency, for example, than bonus miles to save when you travel. Interestingly, in the study by Neuner and in the ensuing polls in Twitter account businessman Wolfman, Cryptojabroni and Analytics eToro’s Mati Greenspan, bitcoin is in competition with other cryptomelane lost «the palm».

All this also reflects the pessimism that spread in the traditional media, which are the primary target of their negativity chose the oldest cryptomonad. Noteworthy is that with the thin justification for the possible «death» of bitcoin in the face of competition with other cryptomelane are even members of the cryptocurrency community, in particular, Samuel Leach.

Pessimism about bitcoin is not justified

It is not surprising that against this background measurement of public opinion showed that 74% of respondents do not believe that bitcoin to the end of the year can exceed $8000. It is important to note that this survey collected a large number of representatives of the cryptocurrency community, and yet the pessimism is obvious. What can we say about the poll in Twitter account Charlie Bilello, Director of research company of new York Pension Partners: 86% of 3358 respondents believe that in the next 12 months bitcoin will not be able to rise above the level of $4200.

The survey was conducted on November 21, and bitcoin then was able to reach the level of nearly $4500, that is, the majority of subscribers Billelo, among which a significant number of his colleagues are professional managers of investment portfolios have been mistaken.

Massive buying of cryptocurrency in real time is a reality

For a small number of market players, especially whales, it is clear that currently there is a great opportunity to buy more cryptocurrencies before they again rose: here we see that the largest investors are now record-increased investments, e.g. Ethereum. A large amount of savings amount of cryptocoins seen on Litecoin-wallet. But about bitcoin do not have such information. The impression is that the cryptocurrency No. 1 betrayed, and «drowning» not only traditional financial institutions, but also, apparently, some members of the cryptocurrency community, seeing it as an unnecessary competitor.

False modesty due to the growth of bitcoin prices in December 2017

In addition, instead of closing ranks, we see that members of the cryptocurrency community begin to «repent» that bitcoin is strongly rose in price in December of last year, laying the foundations for doubt that this crypto currency could grow «naturally».

This is evidenced by Michael Casey from mit, and analyst Jill Carson who claim that in the past year, interest in bitcoin was purely speculative. Meanwhile, there is nothing speculative to expect that the asset that has the perfect formula of limited supply in the market, can not simply increase in price, and to demonstrate the permanent, long-term trend growth, and shows that bitcoin, despite the current downward correction.

USA «offended» for cryptocurrencies, which cancel the sanctions

Only the speculative motive may explain the reluctance to invest in bitcoin when it costs so cheap attractive in this refusal it is difficult not to suspect an attempt to derail the price of the cryptocurrency even lower. It is no coincidence that the authors of the petition on sapced «to stop the fall of bitcoin» indicate as the addressee the U.S. regulators: fed, SEC and CFTC.

Although the pressure source to crypto currencies should not even look there, and the Office for foreign assets control (JFAC) is a division of the U.S. Treasury, which is responsible for the development of sanctions. There is a clear line: at a meeting held on 30 November−1 December the G20 summit, it was decided to adhere to regarding the regulation of cryptocurrencies of the recommendations of FATF, which deals with combating crimes in financial sphere on the global level. Meanwhile, the head of the FATF, Marshall Billingsley, who served as Deputy head of OFAC, in October called on all G20 countries to urgently «to regulate» the cryptocurrency, offering simply to ban them, if «undetectable by any risk.» And the main «risk», which revealed, is that the existence of cryptocurrencies negates U.S. financial sanctions that became apparent with the failure of attempts to block the work of two bitcoin addresses, which are associated with Iran, which fell under the American economic limitations. It is clear that the cryptocurrency community should be opposed to the actions of the US authorities, which are aimed at the infringement of the bitcoin is determined by political motives.

The image of the cryptocurrency’s most important

Bringing objective and positive information to users of news agencies and readers of traditional media, including the Internet, is what is called «public relations». But who will do it on a regular basis in the case of bitcoin? It is obvious that such operation is necessary, and the decentralized nature of the cryptocurrency doesn’t excuse what is essentially targeting with traditional media is not conducted.

What do the owners of large fortunes in bitcoins? 20 Aug brothers-billionaires the Winklevoss founded the Association of virtual goods, however, its main goal is the creation of industry standards. There is also no emphasis on working with the media and the General public are among the goals established for the Association markets digital assets. However, what is more important? In the report of the WTO on the blockchain and cryptocurrency alleges that the main thing for cryptocurrency infrastructure development, and this requires investment. Partner Morgan Creek Capital Anthony Pompliano also supports this point of view, considering that it is even more important than «buying cryptocurrency on centralized exchanges». However, not everyone agrees with this opinion. So, one of the Ethereum founders, Joseph Lubin, I’m sure it’s about the people and not technical solutions.

But still we can say that the main thing is a delicious message, which is very important for any product or service that claims to be global, and cryptocurrency is that such assets, the message will no longer be able to ignore traditional media. Improving the efficiency of transactions using cryptocurrency is worth billions of dollars that saved the remittances of migrants. It is also a charity that gets an amazing boost with cryptomonas. All are small examples of something that would have to write for traditional media.

Cryptocurrency as a way of addressing world problems: step-by-step solution to retirement planning

Joseph Lubin is confident that crypto-currencies solve the problem of «world-class». So why do whales not to do in order to promote cryptocurrency solution to the global problem of pension provision, which applies to many countries, from the United States and Canada, ending with France and Russia? In Russia now there is a $461.8 billion in reserves. A considerable part of them is kept in US dollars, in which case the Issuer in its recent first report on financial stability explicitly warned the U.S. currency may start to roll downhill together with other assets.

Capitalization of all bitcoins now exceeds $69 billion. Enough to invest $10 billion to set up, first, by 2020, to bring the level of Russia’s international reserves to $1 trillion. And secondly, to set a new trend addressing the issue of improving the welfare of pensioners in the world, because the more countries will develop their pension plans on the basis of the investment in bitcoins, the more will go up this limited in the amount of the asset.

It all seems someone unlikely, however, that the country which first invest their reserves in bitcoins, will be able to provide its population the maximum benefit. Will it be Russia, USA or France, only time will tell, however, that this development is irreversible, is obvious.



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The price of Ether fell amid reports about a ban ICO in South Korea

According to CoinDesk, amid reports on ban of ICO in South Korea Ether price fell to $280 per coin.

In General, the Ether today held firm, reaching a high of $300,14 and at least $280,59. For comparison, after reports on the prohibition of the ICO in China, the price of the ETH fell to $200 per unit. However, in the last two weeks – amid news that the Chinese traders are moving to Japan, South Korea and Hong Kong – the prices returned to previous levels.

It is not excluded that the new reports from regional regulators will further undermine the exchange rate, notes CoinDesk. Analysis of prices shows that the cryptocurrency has not yet overcome the crisis and not fully recovered.

According to Coinmarketcap, Ether also saw a decline. As of 3:54 UTC, weighted average rate of bitcoin has reached the minimum daily level of $279,77 per unit. Around 13:00 UTC it rose to $297,30, and after 2 hours, decreased to $292,45.

As of 18:48 (Kyiv/Moscow) Ether was trading at $291,92.

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The crypto currency exchange BTCC closes your mining pool

The company BTCC, the operator of one of the oldest cryptocurrency exchanges, has announced the closure of the mining Pool Limited pool BTCC after four years of work.

In his statement BTCC described the reason for the pool closing “adjusting business”. The company reported that November 15 will turn off all the servers, and from November 30 the activities of its mining business will be discontinued.

The miners proposed before November 15 to be disconnected from the pool your hashing power. As promised the company, rewards the users will be fully paid.

In June of this year it was reported that the BTCC reached a preliminary agreement on selling 49% of its mining business investor from Hong Kong. It was assumed that financial company, Value Convergence (VC) Holdings Limited will pay for a share of $17 million But reports of the closing of the transaction was not.

In early July, the BTCC resumed work on the new crypto currency exchange trading platform. In October, the company announced the opening of the cryptocurrency exchanges in South Korea.

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What is a bitcoin ETF?

1

What is an ETF?

Exchange traded Fund (Exchange Traded Fund, ETF) — an index Fund, whose shares are traded on the stock exchange.

In fact ETF is a type of securities which serve as certificates for share portfolio, bonds, commodities or cryptocurrencies.
The price of this valuable paper follows the index on the basis of certain underlying assets.

In the United States for registration of the ETF Fund provider submits a request to the Commission on securities and exchange Commission (SEC). Last klassificeret shares of such funds as securities (the securities).

2

Than ETF different from an investment Fund?

Unlike the investment Fund (e.g. mutual funds), ETFs can perform the same operations as with stock trading. Thus, transactions in shares of ETFs can be performed during the entire trading day, and their price may vary depending on the ratio of supply and demand, as well as activity of market participants.

Stock ETFs tend to be more liquid than shares in a mutual Fund. The latter are usually treated in the country of establishment of such a Fund. In this case exchange traded funds may be traded on foreign exchanges. Also acceptable ETF margin trading.

Since ETF is traded like a stock, it is not calculated daily net asset value as an investment Fund. Also note that the market value of such assets may be above or below net asset value.

The net asset value (Net Asset Value, NAV) — the price of the investment Fund or ETF per share. Per share of the Fund amount is calculated by dividing the total value of all the securities in its portfolio (less any liabilities) by the number of assets in circulation.

3

Why the attention of cryptoendoliths chained to ETF?

ETF is more or less familiar tool for the world of traditional Finance. The popularity of these products is growing from year to year.

To invest in bitcoin ETF to market participants don’t have to bring a purse, be registered on the stock exchange digital assets to worry about secure storage of funds, etc investors are not subject to the risks of hacking trading platforms of fraud by dishonest owners of stock exchanges, phishing attacks. Consequently, these tools may be of interest to traditional investors who do not want to delve into the technical aspects.

There is a perception that the bitcoin ETF will surely be attracted to the cryptocurrency market a big investment and it will contribute to the growth of its capitalization, as well as the mass adoption of the new assets.

For example, the co-founder of the cryptocurrency hedge Fund BlockTower Ari Paul believed that the main driver of the next medium-term rally of bitcoin prices will be the influx of institutional investors. According to Paul, the main barrier to the entrance of big investors into the industry — a shortage of reliable solutions for storage of digital assets, focused on the «whales» of the market.

CEO IronWood Michael Stratton’m sure if the SEC will approve the ETF on the basis of cryptocurrency, this market will certainly go major investment companies and funds, including Fidelity and Ameriprise Financial.

4

Why are some against bitcoin ETF?

Many famous representatives of kriptonyte skeptical about ETFs.

Well-known in cryptosuite trader and analyst Tone Weiss argues that bitcoin price will not necessarily rise after the launch of the ETF based on it.

Bitcoin Evangelist Andreas Antonopoulos and even calls these funds «a terrible idea». According to him, due to ETF the cryptocurrency market will become more centralized and subject to aggressive manipulation by institutional investors.

With the criticism of a bitcoin ETF made by the famous cryptographer Nick Szabo. He believes that such funds can be more harm than good.

«I’m not lobbying ETF. They can create more problems than value. Recent sales of bitcoin thrown out or soon kicked out of the market many of the ignorant. We do not need more in their place», — stressed clogs.

Ethereum Creator Vitalik Buterin convinced that kriptonyte need not only exchange-traded funds, many practical and useful applications.

5

Which companies strive to launch a bitcoin ETF?

In recent times significant efforts to launch an ETF on the basis of bitcoin make VanEck, SolidX and the CBOE. In particular, these companies regularly try to convince the SEC that the market is ready for such financial products.

VanEck MVIS creates a Bitcoin US OTC Spot Index based on the price of bitcoin supplied by cryptodire Genesis Trading, Cumberland and Circle Trade. The company plans to use this index in a bitcoin ETF.

CBOE plans to launch six ETFs. Their distinctive feature — the futures as the underlying asset.

However, conservative SEC is in no hurry to approve applications for opening a bitcoin ETF.
According to officials, bitcoin is significantly affected by market manipulation.

So, in late August, the Commission rejected an application to open a Bitcoin ETF and ProShares ProShares Short Bitcoin ETF. At the same time, the Agency rejected several applications from companies and Direxion GraniteShares. Shortly before that, in July, the SEC for the second time rejected the request of the brothers Winklevoss to launch a bitcoin ETF.

This fall was postponed «until better times» the launch of ETFs company BlackRock. Her representatives said that would offer clients exchange traded products until you see that the industry was now Mature enough. Shortly before a bid to launch exchange-traded Fund withdrawn company Barry Silbert Grayscale Investments.

6

What is ETP?

ETP (Exchange Traded Product exchange traded product) is a financial instrument traded on a securities exchange. It tracks the dynamics of growth of a particular underlying index, which may be based on stocks, commodities, derivatives or cryptocurrency.

Discussed above ETF is a type of exchange traded product. As the category ETP include:

  • closed-end investment funds (Closed-End Funds). They are publicly traded investment companies and listed on stock exchanges like stocks. Such funds attract the necessary amount of capital only once through an IPO, issuing a fixed number of shares.
  • exchange-traded derivative contracts (Exchange-traded derivative contracts) — standardized derivatives such as futures and options traded on organized exchanges.
  • exchange-traded notes (Exchange Traded Notes, ETNs), are in nature of debt securities. This category also includes exchange-traded certificates (Exchange-traded certificates) and Exchange-traded currencies/commodities (ETCs).

Example exchange traded product is Amun Crypto Basket ETP. At the core of the tool under the Ticker HODL5 is the index on the basis of several the most liquid cryptocurrency, weighted by their market capitalization. It is noteworthy that shortly after launch this product became the leader in trading volume on SIX Swiss Exchange.

7

What is an ETN?

ETN (Exchange Traded Notes, exchange-traded notes) and unsecured debt obligations, the value of which is tied to the price of a certain asset (a basket of stocks, bonds, commodity futures and cryptocurrencies).

One of the factors that affects the value of an ETN is the credit rating of the company issuing such instruments. In other words, the price of the exchange notes may fall because of the decline in the credit rating of the Issuer even if no changes occur in the underlying index.

ETN is also traded on the exchange, but their main difference from the ETF that the Issuer notes are not obliged to buy and hold any assets to track the index price. The main risk when working with notes is associated with the probability of default of the Issuer.

Some ETN follow the given index «with the shoulder». This means that the Issuer is obliged to pay a multiple of the increase or decrease of the index.

An example of such tools in the context of cryptocurrency market are exchange-traded notes on bitcoin from the Swedish company XBT Provider that allows you to invest in a basket of 5 or 10 assets.

In August, tied to USD exchange bitcoin note appeared in a listing on Nasdaq Stockholm. However, these ETN fell out of favor the SEC, which found that the XBT Provider sows confusion with terminology. The Commission decided to suspend the trading in these instruments on the American market.

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Morgan Creek will repeat the bet Warren buffet putting $1 million into cryptocurrency

In 2007, the head of Berkshire Hathaway and legendary investor Warren Buffett has put $1 million on that stock index, the S&P 500 will surpass the dynamics of the group of five hedge funds over 10 years. Now the venture firm Morgan Creek decided to put the same amount that crypto-currencies will outperform the S&P 500 over the same period.

«Time to put skin on the line, critics of the cryptocurrency. Who will agree to take a bet?», — asked the co-founder of the company Anthony Pompliano.

Thus, the dynamics of the cryptocurrency in the future wager will be to monitor the Digital Asset Index Fund.

Earlier, Pompliano said that the bear market crashes. «tourists», leaving only the true entrepreneurs, capable of creating sustainable value.

Recall that in November 2018 bitcoin has demonstrated the worst dynamics for the last seven years.


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The court recognized the right of the founder of Telegram for money Gram

According to the decision of the California district court, the founder of the messenger Telegram Pavel Durov can freely develop and promote their cryptocurrency Gram.

This decision, though an intermediate in one of the biggest patent disputes cryptocurrency market on the basis of the film can officially deny the American startup Lantah use brand virtual money Gram.

For the conduct of the case the founder of a Telegram hired one of the best lawyers of our time John Neukom, which is successfully able to resist all claims to the use of Gram.

We will remind, in may of this year the Telegram has filed a lawsuit against the company Lantah LLC, which planned to issue its own cryptocurrency, called Gram. As stated in the statement of claim, the startup Lantah violated the rights of trademark Telegram when filed for registration of the trademark «Gram» in the month of February.

While Lantah has officially registered the name Gram in the summer of 2018, and Durov have not even filed an application in the patent office. In Russia, it would be a decisive factor, but not in the US.

The film won an intermediate step, because it proved that he had used their brand for commercial activities. This is stated in the judgment and testimony of the Vice-President Telegram Ilya Perekopsky. But at common law the United States is the use of the brand can be decisive in determining its origin.

In investment agreements, which were signed by the investors Durov, said that the money collected under the project called Gram. This convinced the court that the name Gram has been widely used in commercial activities. Especially because under this name attracted $ 1.5 billion. While Lantah startup, set to raise about $5 million, and still have not received from the investors a penny.

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Poloniex unblocked all transactions in Russian startups Soundchain

The exchange Poloniex has released all of the transactions of the Russian blockchain startup Sounchain. This was announced by the founder of the project Artem Abaev on the page in Facebook.

«I am pleased to announce that the epic Poloniex is about to end, last night we unlocked the last of the frozen transactions. Today we start the conclusion, although it is unclear why they do not adhere to its own regulations for closure of the account and did not do so,» he wrote.

According to Abaev, to unblock the funds helped provide extensive coverage of this issue in the media.

«Because of the media hype support Poloniex also responded to other ticket people who sit for a month and can not bring the money,» he said.

We will remind that Artem Abaev reported on the problem with the withdrawal from Poloniex exchange on August 21. However, he noted that the difficulties faced not only the team Soundchain, but many other users of the site.

1 Aug exchange Poloniex has changed the rules of using, adding two new paragraphs. They said that to use the service can now the people who are not residents of the countries which imposed trade embargo, and are not included in the list of excluded entities.

In this regard, many Russian users initiated the withdrawal, but found that their transaction is frozen.

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Blockchain.com has provided a platform for institutional investors

British cryptogenic supplier and provider of crypto-currency wallet Blockchain.com recently launched service platform Blockchain Principal Strategies (BPS) aimed at institutional investors.

The new platform should help investors to access cryptocurrency assets, using the platform-the-counter trading (OTC) with intelligent ordering system (OMS). In addition, users are promised an individual approach to portfolio and access research group.

“We are very excited to present the Blockchain Principal Strategies — institutional-level platform designed for institutions, family firms and individual investors. BPS provides clients the opportunity to invest in digital assets with the same peace of mind and security that has become synonymous with the name of the Blockchain,” said CEO and co-founder of Blockchain ‘s Peter Smith (Peter Smith).

In addition to the BPS platform, startups have promised users to “educational and networking opportunities with the hope of creating a broader, well-informed community, to promote digital currencies”.

Startup Blockchain.com formerly known as Blockchain.info, posted a message about changing the URL in Twitter:

“You may have noticed that all pages with a URL http://blockchain.info now redirected to http://blockchain.com but don’t worry, it’s not goodbye .info forever, just see you somewhere else!”

Recall that in recent months their cryptocurrency products aimed at institutional investors introduced to the company Coinbase, LMAX, Susquehanna and Huobi.

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Users QTUM got access to the coins

QTUM the project, the unifying Protocol of bitcoin with Ethereum technology, has completed the upgrade of its core network by opening the user access to the coins. All previously stored coins were successfully converted. The exchange will no longer accept deposits in the old tokens ERC20.

The platform update QTUM, which is in the top 15 largest by market capitalization of cryptocurrency, is a significant change in the functionality of smart contracts.

First, the team QTUM created Ethereum Virtual machine (EVM) that provides compatibility with smart contracts on the basis of Solidity.

Secondly, the update process creates a new generation of optimized POS contracts as well as a new graphical user interface that allows you to create smart contracts, send Qtum and check the status of the contract.

As a system of smart contracts QTUM – new option for developers outside networks Bitcoin and Ethereum. The latest update of the platform also allows QTUM to cooperate with other systems which require the functionality of the smart contract. One of the latest partners of the project was Matchpool.

It is expected that the update will be welcomed by those users who want to create smart contracts within the system.

According to CoinMarketCap, the average rate Qtum as of 13:30 (Kyiv/Moscow) $12,10 per coin.

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