Hedge Fund Manager Predicts $10,000 Year-End Price For Bitcoin

Spencer Bogart of Blockchain Capital has recently predicted a bullish retracement for bitcoin and the rest of the cryptocurrency market on CNBC’s “Fast Money.”

He states that recent week’s development in crypto-market could be the main reason why bitcoin is close to bottoming.

These news include TD Ameritrade's investment into a crypto-related exchange, billionaire Ric Edelman's investment in Bitwise Asset Management and Yale’s investment on blockchain firm Paradigm.

He also added that crypto market would not react immediately to these events, but the inbound institutional capital will be the building blocks of the next bull run.

Bogart’s prediction seems to be in line with Fundstrat's survey which states that 54 percent of institutional players think that bitcoin has bottomed out already.

Insurance For Cryptocurrencies Now Available For Gemini Customers

Gemini has recently announced that effective October 1, 2018, digital assets held in its custodial service will be ensured.

According to Yusuf Hussain, the firm’s Head of Risk, many of its customers are looking for the same protection found in traditional financial institution.

This initiative allows them to provide such protection for its customers and also sets the expectation for consumer protection across the crypto industry.

By providing insurance-backed custodianship, Gemini shows focus on adding services that legitimize the cryptocurrency trading industry.

Most of the firm’s initiatives bring features that are consistent with traditional financial institution and bringing them over to the crypto space.

It seems that the Winklevoss twins was able to convince insurers that their company is a safe and secure exchange and custodian, where customers can buy, sell and store digital assets in a regulated, secure, and compliant manner.

Litecoin Can Now Be Used To Buy Amazon Gift-Cards and Will Be Re-listed In Cex.io

Litecoin has pride itself as a faster and more efficient version of bitcoin.

This was demonstrated at the time of December bull run where the top two cryptocurrencies, Bitcoin and Ethereum, were congested.

Traders found Litecoin (LTC) as being the best option during that time to shoot funds across exchanges where the trading action was.

In a recent development, founder and creator of Litecoin Charlie Lee revealed that he was able to buy an Amazon gift card using Lightning Network on Litecoin in which his payment went through instantaneously and got his purchased gift card right away, demonstrating the potential of Litecoin as a payment alternative to fiat.

On another development, Cex.io, the exchange that chose to stop support for Litecoin last year plans on re-listing Litcoin to its platform.

Trading will be available for LTC/BTC and LTC/USD pairs.

Exact date has not yet been revealed but there are indication that it will be re-listed sooner than later.

Chris Larsen Named By Forbes The Wealthiest In Crypto Space

Chris Larsen was name one of the top 400 richest person for the year’s Forbes 400 rich list.

He is ranked 383 richest person and is the first to ever make the list whose net worth came solely from cryptocurrencies.

Forbes estimated Larsen’s net worth to be around $2.1 billion which is significantly lower with what he had at the beginning of the year.

This was because of the volatility of Ripple (XRP) where he holds most of his fortune.

Last January Larsen’s net worth was about $37.3 billion when ripple was worth around $2.39.

Currently the worth of XRP as dropped significantly to $0.047 leading to the decline in Larsen’s net worth to what it is now.

Larsen is reported to own around 5.19 billion XRP tokens, as well as shares in XRP’s parent company Ripple.

Anti-cryptocurrency Economist And Blockchain Lobbyist On Senate Blockchain Hearing On October 11

A committee hearing by the U.S. Senate Committee on Banking, Housing and Urban Affairs will be held in Capital Hills on October 11, 2018 where two opposing views of blockchain technology will be squaring off to discuss advantages and disadvantages of the nascent sector.

The Senate hearing is dubbed as “Exploring the Cryptocurrency and Blockchain Ecosystem” and will be attended by Coin Center Director of Research Van Valkenburgh, and New York University Professor Nouriel Roubini.

Roubini, a noted economist, is well-known for his disdain towards cryptocurrency and blockchain and has gained his fame by predicting the 2008 financial crisis before it started and have become one of the world’s most respected economist.

The professor has long been an adamant basher of bitcoin, remarking in November of last year that the popular cryptocurrency is not a good way to store capital or serious payment method.

Headlines for the world of Cryptocurrencies - October 08, 2018 U.S. Court Cases Confirms Cryptocurrencies As Commodities / Block Size Increase In Bitcoin Without Hard Fork Possible / SEC Files Multiple Amendments Signaling Bitcoin ETFs Approval / European Banks Probed For Facilitating 661 Million Worth of Crypto In Two Years / Yale Invests In Crypto
Headlines for the world of Cryptocurrencies - October 07, 2018 Institutions Are More Bullish On Bitcoin Than Retail Investor / Countries Trying to Appeal To Crypto Businesses / 1 Million Euro Budget For FinTech and Crypto Supervision For EU Financial Regulator / Bithumb Will Release Own Decentralized Exchange / Soulja Boy Releases A Bitcoin Rap
Headlines for the world of Cryptocurrencies - October 06, 2018 Binance Invests $2.5 Million in Blockchain-Based Travel Startup / Holding 0.28 BTC Makes You Part Of The 1% / TD Ameritrade Sets Their Eyes On Cryptocurrency Market / US Legislators Files Bill To Define Blockchain Technology Definition / Ripple Shaping Up To Be The Microsoft Of Crypto