Beyond Bitcoin


Bitcoin is changing us. Whether you want to admit it or not, it has changed investing.

Going into 2017, there weren’t a lot of people thinking about Bitcoin… which means they definitely weren’t thinking about the impact the cryptocurrency was going to have on all of us.

The digital currency was just below $1,000 in the beginning of the year. No one was taking it seriously. Well, I wouldn’t say no one

Wealth Daily was taking it seriously. In fact, before the end of 2016, my colleague Jason Stutman wrote about the digital currency. He put together a list of 5 things every investor should know about Bitcoin. He knew it was going to be a big year for the cryptocurrency.

Sometimes we’re a little early to the game. But what’s so wrong with that? If you were subscribed to Wealth Daily and listening to us about Bitcoin in the beginning of the year, you’d probably be happy with the money you’ve earned. I’m not trying to rub it in, but you’d be up about 1,570% from the beginning of the year. 

As I’m writing this, Bitcoin sits at $16,709. And honestly, I don’t see it sitting there too much longer. It’s going to go up even further.

A managing director for cryptocurrency trading firm Octagon Strategy, Dave Chapman, said, “I wouldn’t be surprised to see a six figure headline.” Frankly, he’s not alone in predicting that Bitcoin hits a six-figure price before the end of 2018.

This wasn’t the first time Chapman saw Bitcoin surging. Back in August, when Bitcoin was trading around $4,000, he made the bold statement that it would have a five-figure headline by the end of 2017.

Chapman added:

Bitcoin allows the immediate transfer of value from one individual in the world to any other individuals in the world, and it does that without a middle man. That’s its value.

Bitcoin has gone mainstream. It’s a household name now. There’s no turning back. Everyone is talking about it.

That’s great news for the underlying factors that make Bitcoin and other digital currencies worthy investments. The technology involved with digital currencies is getting some much-deserved recognition that could unleash a whole new world of opportunities.

Bitcoin Futures

On Sunday, the Chicago Board Options Exchange (CBOE) launched a Bitcoin futures product. The CBOE is one of the world’s largest futures exchanges. The introduction of Bitcoin to the futures market is going to be a true test of where Bitcoin’s price is headed.

So, how did the market feel about Bitcoin futures? They surged as much as 26% in their debut on the CBOE.

Craig Erlam, a senior analyst in London at online trading firm Oanda, had this to say about the Bitcoin futures debut:

It was smooth, and Bitcoin traders don’t seem to be put off by futures… There was a fear that short selling would have an adverse impact on price, but we haven’t see that yet.

Initially there were fears that futures could bring down Bitcoin’s price. However, that wasn’t the case at all. In fact, the high volume of interest even had an effect on the CBOE’s website, causing delays and temporary outages.

Randy Frederick, vice president of trading and derivatives for Charles Schwab in Austin, Texas, said, “You are going to open up the market to a whole lot of people who aren’t currently in Bitcoin.”

Bitcoin futures expiring in January were 20% higher as of 9:50 a.m. in New York on Monday. According to the CBOE, more than 800 Bitcoin futures contracts were traded in the first two hours of trading.

Futures allow investors to speculate on the asset’s future price. They give investors a gauge of where they might see the price going forward.

They also allow larger investors, like institutional investors, to start investing in Bitcoin without actually buying it.

Ophir Gottlieb, CEO of Capital Market Laboratories in Los Angeles, California, had this to say about Bitcoin futures:

Hypothetically, volatility over the long run should drop after institutions get involved. But there may not be an immediate impact, say in the first month.

Bitcoin futures have the potential to stabilize Bitcoin and reduce the volatility that’s been associated with the cryptocurrency, which is something larger investors are interested in.

Right now, Bitcoin futures are showing that the cryptocurrency still has a lot of room to climb. While it might not be as sporadic or impressive as it has been in the last few months, it’s still climbing.

Beyond Bitcoin

If there’s one takeaway from this year, it’s that Bitcoin put digital currencies on the map. Investors worldwide, large and small, are now aware of cryptocurrencies.

It’s hard to avoid getting caught up in the craze. Admittedly, earlier this year I was a little skeptical of the digital currency. But in the end it got my attention. And that could be said about a lot of people.

Bitcoin has captivated all of us. And maybe that’s not such a bad thing.

There’s a lot to learn from this market, and there will be even more opportunities to come from it.

One thing that’s going to come from Bitcoin is the emergence of other digital currencies with similar potential. My colleague Alex Koyfman has been following cryptocurrencies that hold the same qualities Bitcoin did when it first started out.

He’s even identified two early-stage cryptocurrencies that are already growing faster than Bitcoin.

Last year, we told you what was going to be big in 2017. Now, it’s time to tell you what’s going to be big in 2018. So, listen up!

Take the chance you wish you would have taken earlier in the year with Bitcoin. Check out Alex’s detailed research report on these two early-stage cryptocurrencies.

Take advantage of the information we’re sharing with you!

Click here to access the report.

Until next time,

Monica Savaglia
Wealth Daily

Sign up to receive the Wealth Daily newsletter – it’s absolutely free! In each issue, you’ll get our best investment research, designed to help you build a lifetime of wealth, minus the risk. Plus, by signing up, you’ll instantly receive our new report: Surviving the Coming Economic Collapse.

We never spam! View our Privacy Policy

After getting your report, you’ll begin receiving the Wealth Daily e-Letter, delivered to your inbox daily.


Source link

قالب وردپرس

We hope you enjoyed reading the above post. How about helping us share the information to your fans and friends on social media? Meanwhile, you can rely on us daily for the latest and relevant free forex trading signals, free forex trading market news, free forex trading technical levels, weekly Pool draws, latest news from Nigeria and the world, educational articles and quality academic information, insurance news and scientific knowledge.

Do you need a classical ORGANIST or an excellent music teacher? CALL Fabian on 08033983034 or email him at

Follow us on twitter @newsbeatportal

learn how to make profit from your losing bets on nairabet, bet9ja, merrybet, surebet. 07030635051
Engage #SantexTech today to build & install inverters, training on inverters & other electronic designs, projects/kits. Call 08039574535

Click to join Talk Nigeria Today, a group where hot, controversial, and breathtaking issues are brainstormed upon.

Konga Verified Blogger

Leave a Reply