This Painfully Boring CNBC Crypto Debate Is Bullish as Hell for Bitcoin

By CCN: If you’re looking for reasons behind bitcoin’s recent price surge, this video tells the whole story. Because it’s so completely dull. Has bitcoin gone too far, too fast? Here's how two traders are thinking about bitcoin futures. via @CNBCFuturesNow https://t.co/StSHvYGYD9 pic.twitter.com/aHKgt62GNe — CNBC (@CNBC) May 22, 2019 The two established analysts with decades of trading experience talk about bitcoin with maturity and logic. They make a strong case for allocating portfolio funds to crypto, and no-one mentioned bubbles or scams. The way people talk about bitcoin is changing, especially on mainstream finance outlets. It’s evolving. Bitcoin is a

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Newsflash: Owning Bitcoin Legal Despite Govt Trading Ban, Says Bank of China Council

By CCN: According to Sa Xiao, a Council Member at the Bank of China’s Law Research Association, it is legal for individuals to own bitcoin in China despite the government’s blanket ban on trading. CnLedger, a recognized crypto news source based in China, said: ‘It is legal to own bitcoins in China’ says Sa Xiao, Council Member at Bank of China Law Research Association, cited by The Beijing News. Besides, Xiao considers the occasional exchange of bitcoins between individuals and individuals is legal. In September 2017, Caixin, a Beijing-based mainstream media outlet, reported that China officially banned crypto trading, forcing

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Bitcoin Price Blitzed $20,000, 13 Days After it Last Closed at $8,300; Déjà Vu?

By CCN: Year-to-date, the bitcoin price has surged by 113 percent in a stunning recovery, achieving $8,000 in merely six months after plunging to $3,150 in December 2018. As said by Thomas Lee, a co-founder at Fundstrat Global, bitcoin has historically tended to record most of its gains in a short time frame, typically in a 10-day window, unlike traditional assets and asset classes. 2/ Reminder that BTC generally generates all of its performance within 10D of any year.–ex the top 10 days, BTC is down 25% annually since 2013 pic.twitter.com/zoEocEEZvu — Thomas Lee (@fundstrat) April 2, 2019 According to

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Bitcoin Will Die if These 4 Problems Remain Unsolved: Teen Crypto Millionaire

By CCN: Teenage bitcoin millionaire Erik Finman has once again thrown himself into the spotlight by claiming that the flagship cryptocurrency ‘will die’ unless the sticky issues it is facing are resolved. Speaking to Yahoo Finance, Finman indicated that the sticky issues plaguing Bitcoin are four. This includes its complexity with regards to use, high transaction fees, slow processing speeds and in-fighting among development teams. It’s facing four big problems. One, its high transaction fees. Two, it takes a long time you know to kind of send anything. And then three, the people that are trying to solve those problems…

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Mainstream Business Journalist Foolishly Warns Bitcoin Is Going to Zero

By CCN: Didn’t the “60 Minutes” segment on bitcoin teach the mainstream media anything? New York Post columnist John Crudele is railing against cryptocurrencies. More specifically, he’s rehashing an outdated argument in an article entitled: “Bitcoin Will Soon Be Worth Zero.” His reason for sounding the alarm is simple: “Last Thursday night bitcoin crashed by about $1,000, to around $7,000.” Someone should break the news that $1,000 swings are typical for the emerging cryptocurrency. Not only that, but the bitcoin price has since recovered to nearly $8,000 since he published his article on Monday. Another thorough, thoughtful analysis https://t.co/ob6xyiRx9N —

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Don’t Kid Yourself! Bitcoin is a Terrible Stock Market Hedge: Study

By CCN: Bitcoin is not an effective hedge against an uncertain economy or volatile stock market — despite what crypto evangelists vehemently insist. That’s the conclusion of a report that was just published in the Annals of Operations Research. The paper is entitled “Market Risk and Bitcoin Returns,” and it was authored by Dimitrios Koutmos, an assistant finance professor at Worcester Polytechnic Institute in Massachusetts. Report Touts Itself as a ‘Cautionary Note’ Koutmos says he’s sounding the alarm for investors, calling his report a “cautionary note” for the irrationally exuberant cryptocurrency enthusiast. He says his research indicates that the bitcoin

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Bitcoin Beats Other Cryptos in ‘Smarter’ Bull Market, Says Billionaire Investor

By CCN: Mike Novogratz, the billionaire CEO of Galaxy Capital and a former hedge fund manager at Fortress Investment Group, believes alternative cryptocurrencies, or altcoins, will be outperformed by bitcoin in the bull market. Not this time. Market getting smarter. $btc will outperform. — Michael Novogratz (@novogratz) May 19, 2019 The statement of Novogratz comes after the bitcoin price risen by more than 115 percent year-to-date against the U.S. dollar, leading the crypto market to add $124 billion to its valuation. Will bitcoin continue to outperform altcoins? Historically, altcoins have relied on the price trend of bitcoin and have rarely

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$25,000 Bitcoin Price Next for Perma-Bull Tom Lee after Ringing Crypto Winter Dead

By CCN: Fundstrat CEO Tom Lee says the ‘crypto winter’ is finally over, offering 13 solid reasons to back up his claim. According to the bitcoin perma-bull, there’s nothing but blue sky between here and his $25,000 price prediction. If he’s right, then bitcoin has bottomed for this cycle and we have now entered a bull market. Lee’s 13 signs touched on everything from technical analysis, Wall Street involvement, bitcoin metrics, and generally positive sentiment. After a disturbing pullback to ~$6,200, #Bitcoin back >$8,000 further cementing positive trend intact. As we said a few weeks ago, Consensus 2019 @coindesk was

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JPMorgan Tries Fear-Mongering in Attempt to Sabotage Rowdy Bitcoin Price Rally

By CCN: JPMorgan doesn’t love bitcoin. The bank – the United States’ biggest financial institution by assets – has been historically pessimistic about the flagship cryptocurrency, so just when bitcoin prices started going through the roof, it decided to crash the party with a dire warning. #Bitcoin prices diverge from intrinsic value, carrying echoes of late 2017, JPM says. pic.twitter.com/DImDoSMv8L — Holger Zschaepitz (@Schuldensuehner) May 17, 2019 JPMorgan makes yet another effort to sabotage bitcoin The crypto winter gave JPMorgan’s bitcoin bears reason to cheer earlier this year. The Wall Street firm’s analysts were bandying about a $1,260 bitcoin price

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Bitcoin Price Skyrockets to 2nd-Best Quarterly Gain in 5 Years; New All-Time High Coming?

By CCN: Bitcoin price is on track to having its second-best quarter since 2014 with a 92 percent gain within two months if it remains above $8,000 by the end of June. Since April 1, in about a month and a half, the bitcoin price has increased from $4,100 to $8,000, by nearly two-fold against the U.S. dollar. $BTC current quarter ranks as the 2nd highest quarterly gain since 2014 and the 7th highest quarterly gain all-time pic.twitter.com/bNTohKJREw — Josh Olszewicz (@CarpeNoctom) May 19, 2019 At its lowest point in December 2018, the bitcoin price was down about 85 percent

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