Top news and views about Bitcoin and Cryptocurrency for 19 Jun 2017
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In the Green: Cryptocurrency Prices Rebound After Market Correction
Cryptocurrency prices rebounded today, reversing the price declines seen during this week's broad correction.
This rebound was seen across many different markets, with more than 90 of the top 100 cryptocurrencies seeing higher prices in the last 24 hours, according to CoinMarketCap.
This broad rally coincided with the market capitalization (market cap) of cryptocurrencies reaching $107.7bn today, a roughly 17.5% increase over the prior day’s low of $91.3bn, additional CoinMarketCap figures show.
The wider cryptocurrency market saw a notable correction earlier in the week, with its collective market cap falling by more than 20% after reaching an all-time high of $117.2bn on 12th June. This stood in contrast to the significant inflows seen over the past few months, as the total cryptocurrency market cap has risen more than 500% year-to-date as of press time.
Full story at http://bit.ly/2ruyayj
There Will Be No Bubble for Bitcoin and Ethereum, Here’s Why
Tech entrepreneur Mark Cuban has recently stated that Bitcoin is facing a bubble. However, Daniel M. Harrison, the CEO of DMH&CO and managing partner of Monkey Capital, reveals that such a thing is impossible due to the market-influencing capabilities of Bitcoin and Ethereum.
The main factor that makes a digital bubble impossible is market bipolarity. For many people, market bipolarity is confusing but it can be distilled in a few important and understandable viewpoints. Apparently, market bipolarity is directly affected by George Soros’ “theory of reflexivity.”
According to George Soros, market conditions are not influenced by equilibrium. Rather, they are “reflexive” due to the synchronization of two functions: cognitive and manipulative function. The cognitive function is a neutral thinking base - this is where economic participants assess facts for what they are.
The manipulative function, on the other hand, turns one fact (or a couple of facts) in order to gain an advantage. Once the cognitive mind is affected by the manipulative mind, the neutrality will be “painted” in a different light it becomes a manipulated fact.
Full story at http://bit.ly/2ruMZkK
Cashless Sweden Will Host its First Major Cryptocurrency and Blockchain Conference
Stockholm will host its first-ever blockchain and cryptocurrency conference on September 7, 2017. According to the host’s press release, who are hosting a series of events in different European cities, including Moscow, Saint Petersburg, Prague, Kiev, and Tallinn, the participants will pay special attention to discuss the blockchain development in FinTech.
“We’re sure that blockchain will become as commonplace as the Internet and smartphones. The Organizer Smile Expo invites Blockchain-enthusiasts from business and government who are already aware of the benefits of new technology,” the event organizers invite the guests to the conference on its official website.
Participating in the conference is not cheap though, a ticket costs 2,000 SEK or 207 EUR, however, participants will be surrounded by experts in the blockchain technology and cryptocurrencies.
The speakers include IBM Distinguished Engineer Karolina Marzantowicz, who is also a member of the IBM Academy of Technology. She will speak about the “Blockchain impact on Energy & Utility industry”, which is a current concern for Sweden since, in June, the government of the country launched a project to implement blockchain tech to the energy sector. According to the conference’s press release, a department of the government corporation Vattenfal, in cooperation with 20 companies in Europe, started the development of a blockchain platform for electricity trading.
Full story at http://bit.ly/2rv0DUE
Venezuelans Continue to Seek Refuge in Bitcoin, Other Cryptocurrencies
It’s no secret that Venezuela is in an economic tailspin. The country famously sought to end corruption (a la India in November 2016) by removing the 100 Bolivar note from circulation.
The widespread panic that the already nearly valueless currency would now be worthless led to massive lines and protest from citizens seeking the protection of assets.
At that time, many Venezuelans began seeking refuge from the economic turmoil by investing in cryptocurrencies. The market responded and Venezuela’s first Bitcoin exchange was opened.
However, according to a recent report by Bloomberg this week, the demand for cryptocurrencies in Venezuela has continued to soar. This week’s trading volume on Bitcoin soared again to over $1.3 mln, nearly doubling the levels from two months ago.
Full story at http://bit.ly/2rusUuU
Investing legend and Amazon bull Bill Miller likes Whole Foods deal, plus Valeant and bitcoin
Amazon's bold move into the food business Friday with its deal to acquire Whole Foods has the seal of approval from one big name — legendary investor Bill Miller.
A major shareholder in the online retailer himself, Miller said Amazon CEO Jeff Bezos has moved on a company that fits in well with his overall investing strategy.
"Jeff is one of the world's great capital allocators," Miller said during a live interview on CNBC's "Closing Bell." "What this means is he knows, he's highly confident they can earn way above the cost of capital on this one."
In a deal valued at $13.7 billion, or $42 a share, the move takes Amazon from the king of online sales further into the world of brick-and-mortar retail establishments. Investors saw the move as a positive, sending Amazon shares up 2.4 percent to $987.71 in Friday trading, while boosting Whole Foods' price 29 percent to $42.68.
Full story at http://cnb.cx/2rv0FvK
Goldman Sachs Predicts Bearish Movement for Bitcoin Once It Reaches $3,100
Banking giant Goldman Sachs has recently warned its clients that the Bitcoin may halt in its bullish movement and head for a bearish movement very soon, according to a report by Interactive Investor. While the company that does not regularly monitor cryptocurrency news, it recently expressed its own opinion regarding Bitcoin in its report called Blockchain Unchained on June 12, 2017.
According to the bank, once it reaches its high at over $3,100, there would be an expected fall because of its continuous bullish movement.
According to ZeroHedge, there is an expected reversal once it reaches its all time high. This is because he claims that the oscillator shows negatively which indicates an eventual bear movement.
In fact, recent movements in Bitcoin price shows trends of it going lower than the highs that it has accumulated over the past weeks essentially reaching a ten week low of $2,547.
Full story at http://bit.ly/2rv3L2W
Prepared by @SydesJokes
Original post from: http://CrowdifyClub.com/SydesJokes
wow !!! bitcoin and ethereum price are much higher than other cryptocurrency.
I'm with you, I don't think its a bubble. I believe we will see pushes forward and occasional (brief) downward trends as we've seen over the last few weeks. But the prices will then grow into new territory more and more. Sent you a follow if you wish to do the same it would be appreciated! Look forward to reading more!