Bitcoin to 500k by 2030

[Bouncer]

Crypto Market Suddenly Adds $26 Billion Overnight

$50,000 by 2018 Target Still in Play
Arthur Hayes, the CEO at BitMEX, a major bitcoin exchange, stated that his mid-term BTC price target of $50,000 by the end of 2018 is still in play.

Hayes emphasized that the correction of BTC and the crypto market is different to its correction in 2014, because a significantly larger number of investors are involved in the market.

“In 2013 to 2015, we went for $1,200 to $200. In 2015 to 2017, (we went from) $200 To $20,000. So, we’ve done these sort of moves before. I think the time span is going to shorten because you have many more people involved in the market, who have invested capital and resources to trade this asset class,” said Hayes, noting that if BTC is capable of rising to $20,000 in a single year, a drop to $6,000 should also be expected.

https://www.ccn.com/bitcoin-and-ethe...ion-overnight/

[Keiser]

^ This is why you don't panic when it's down. You either hold steady or accumulate more.

[Bouncer]

^ This is why you don't panic when it's down. You either hold steady or accumulate more.

Just imagine being the sorry fuckers who put thousands into the market in December. lol.

They will eventually make their money back probably many times over long term but short term (last 6 months) has been brutal.

Those people in general weren't market geniuses either so many of them put more then they could afford to lose into the market. You see many of these types on the Bitcoin subreddit. They absolutely hate BTC with a passion. Lmao

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[Keiser]

Just imagine being the sorry fuckers who put thousands into the market in December. lol.

They will eventually make their money back probably many times over long term but short term (last 6 months) has been brutal.

Those people in general weren't market geniuses either so many of them put more then they could afford to lose into the market. You see many of these types on the Bitcoin subreddit. They absolutely hate BTC with a passion. Lmao

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Yeah true, especially if they sold and got out. They lost big time. I of course bought crypto in December and January but since I've been buying it since 2013 I'm still in the green. Also traded quite a bit and did well enough throughout the year in 2018.

[Bouncer]

Another couple billion pumped into the crypto market over night. traditional stock market is going to take a dive in the coming weeks and months and much of that money is going to transfer into crypto. it's already happening.

i think people have more confidence now considering BTC held that 5800-6k level floor for so long. not many people willing to sell below that level.

[boricuarage79]

Market manipulation by the whales so you can buy more. It will drop

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[Bouncer]

Market manipulation by the whales so you can buy more. It will drop

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doesn't matter if it drops temporarily. institutional money is coming in now due to securities and futures contracts expiring. the December high will be nothing in comparison to where this goes in the next 6 months to a year. if we get an ETF (very likely sooner rather then later) you will literally not be able to keep up with the price rise.

add to that crashing stock market and failing fiat institutions like deutsche bank which just failed a major stress test last week will see investors buying up securities like BTC and ETH in the same way people invest in precious metals during economic downturn.

[boricuarage79]

doesn't matter if it drops temporarily. institutional money is coming in now due to securities and futures contracts expiring. the December high will be nothing in comparison to where this goes in the next 6 months to a year. if we get an ETF (very likely sooner rather then later) you will literally not be able to keep up with the price rise.

add to that crashing stock market and failing fiat institutions like deutsche bank which just failed a major stress test last week will see investors buying up securities like BTC and ETH in the same way people invest in precious metals during economic downturn.

You missed my point or i did not specify myself. Its a manipulation that it is looking bullish, but in reality it is probably not.

I think by end of july we will know what's up.

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[Bouncer]

You missed my point or i did not specify myself. Its a manipulation that it is looking bullish, but in reality it is probably not.

I think by end of july we will know what's up.

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no i understood exactly. this particular short term trend doesnt matter one way or another if you are looking at the 6 month picture. big time money is starting to flow into the market that hasn't been able to without certain securities. they are now becoming available.

just today coinbase went live with custodial service for institutional money. thats billions and billions that have been on the sidelines up until now.

the flow has started regardless of what happens today or tomorrow..

[boricuarage79]

no i understood exactly. this particular short term trend doesnt matter one way or another if you are looking at the 6 month picture. big time money is starting to flow into the market that hasn't been able to without certain securities. they are now becoming available.

just today coinbase went live with custodial service for institutional money. thats billions and billions that have been on the sidelines up until now.

the flow has started regardless of what happens today or tomorrow..

Yup. Market is just weird like that.

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[Bouncer]

this is huge. it opens the floodgates to institutions with big $$$ that have only observed up until now...

https://www.ccn.com/coinbase-custody...nal-investors/

Effects on Price and Volume

Already over the past few days, the cryptocurrency market has witnessed an influx of new cash. Based on Coinbase’s announcement, it’s safe to assume that institutional on-boarding started last week, and the team is actively on-boarding new institutions currently.

Over the past 24 hours, Bitcoin (BTC) has enjoyed a 4.50% increase in price and much higher trading volume. The price of Bitcoin currently stands at $6,620.86 on Coinbase.

Bitcoin’s trading volume has spiked at the time of this writing about 9:30 am EDT. Interestingly, this is near the same time US equities exchanges opened. Global equities have turned toward more bearish sentiment as trade tensions have heated up. Bitcoin’s trading volume rise is shown on the 24-hour graph below:



Additional Plans for Coinbase
The Coinbase Custody announcement also included other plans that the company has for expanding business.

Coinbase Custody is only available for institutions in the United States and Europe, but the company plans to open up the service in Asia “before the end of this year.”

The update also re-affirms the Coinbase’s previous statments that they want to open up trading on more coins and tokens. Though no other projects were announced, they will “offer regular updates.” As CCN reported, Coinbase recently announced plans to gradually roll out Ethereum Classic (ETC) trading across its platforms.

Additional integration of hot-wallets and governance options for institutions was also mentioned.

As this is the first of its kind software and launch for institutional investors, it marks an interesting trial period to await developments and listen to these clients’ feedback

Suite of Tools for Institutions Provides the Ramp
As CCN reported, Coinbase has been working on a multi-faceted suite of tools for institutional investors and hedge funds. Coinbase Custody is a combination of tools from the new suite, including secure cold storage, an institutional grade broker-dealer, reporting, and white-glove client services/support.

Alongside the development of the suite, Coinbase has worked strenuously with regulators to obtain the licenses to perform business at the institutional level as well. In order to achieve the status of an SEC-regulated broker-dealer, Coinbase Custody has partnered with Electronic Transaction Clearing (ETC).

The launch of Coinbase Custody is the final result of new software development and improving relations with regulators.

[boricuarage79]

https://youtu.be/vJ2Rs43ai8Y

Hitler on ripple

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[Bouncer]

The ichimoko cloud is one of the best indicators to show what's really going on. The fact that BTC has pushed right through the red resistance cloud and is on the verge of busting out the top is a strong bullish indicator. If BTC pushes through this resistance expect a quick rise to 7000.

[Bouncer]

SOUTH KOREA OFFICIALLY RECOGNIZES CRYPTOCURRENCY EXCHANGES

South Korea has moved to recognize cryptocurrency exchanges as legal entities in their own right for the first time, cementing their position in the local economy.

UNVEILING ‘CRYPTOASSET EXCHANGES AND BROKERAGES’
As local news outlet The B-Chain reports, new “classification” of Blockchain-related industries means exchanges are now considered “cryptoasset exchanges and brokerages.” Previously, as local commentator Joseph Young notes, lawmakers treated them as “communications vendors.”

Blockchain platforms such as Ethereum and EOS will be known approximately as “Blockchain-based software supply and development businesses.”

Various “subdivisions” will exist within the main classification areas, with full details expected to appear later this month, B-Chain reports.

“We are considering a plan to release the standard later this month. It is difficult to talk about the details,” the publication quotes a government source as saying about the prospective full introduction of the new classifications.

INCREASING OFFICIAL STATUS
The move marks a further step forward in South Korea’s increasing legitimization of cryptocurrency.

After a raft of regulatory measures beginning around the new year, exchanges have seen the landscape transform as they comply with taxation and security demands.

Those demands have not always met with universal approval, with Ripple calling for a relaxation of some parts of the framework to allow for easier building-out of the still-nascent cryptoeconomy.

Some of the more stringent government policies, such as the ongoing full ban on ICOs, are meanwhile the subject of review at policymaker level, Bitcoinist reported in May.

Meanwhile, an equally palpable desire to commandeer Blockchain technology’s potential has seen the government earmark $230 million for research purposes. A wide variety of use cases is on the table, these ranging from online voting to customs clearance to document processing.

Fundraising for the plans is set to run until 2022, with the government also planning an ambitious training program involving 10,000 professionals and 100 businesses.

[Bouncer]

Bitcoin Awaits Price Breakout As Trading Range Tightens

The price of bitcoin (BTC) is stuck in a $400 range defined by key technical levels, and the direction of the breakout will likely set the tone for the next move in the cryptocurrency.

The trading range's lower end is $6,341, a double bottom neckline (former resistance-turned-support), which was scaled on June 30. Meanwhile, $6,754 (a 23.6 percent Fibonacci retracement of the sell-off from $9,990 to $5,755), which put brakes on BTC's rally earlier this week, marks the upper end of the trading range.

A convincing move above $6,754 would signal a resumption of the rally from $5,755 (June 24 low) and would open the doors to $7,000, as indicated by the double bottom breakout and bull flag breakout earlier this week.

On the other hand, the bullish case would weaken significantly if prices find acceptance below $6,341.

That said, the short duration charts indicate the odds are stacked in favor of a downside break of the trading range. At press time, BTC is changing hands at $6,520 on Bitfinex - down 1 percent on a 24-hour basis.

https://www.coindesk.com/stuck-betwe...eks-direction/