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A while back, the former head of NASDAQ projected that by 2022, all tradable instruments including Real estate, stocks and bonds would be tokenized. If that is the case then the world would be tokenized in the next three years according to Robert Greifeld and we know what will happen if the global stock market valued market cap is valued at around $73 trillion is broken down to divisible assets that everyone can own—extreme demand, liquidity and an immediate spike in asset as well as asset market capitalization.
Read: Former NASDAQ CEO Predicts the Multi-Trillion-Dollar Global Market to be Tokenized, Is He Right?
The global stock market stands at $73 trillion but the combined value of the stock, bond, and real estate market cap is estimated to be around $503 trillion. Tokenization would not only mean an immediate windfall for coin asset prices but new regulator demands would emerge. Note that the SEC has the hands off these assets and to ensure fair playing field, rules have been formulated to punish those who flout these bare minimums.
On the other side, Bitcoin and most assets operate under the premise of decentralizationand are global. This means applicable rules in one state may not apply in other areas opening out fractures that can be exploited for personal gains.
Also Read: Binance CEO Changpeng Zhao on the Bitcoin Revolution: “Beginning of the Beginning” Still
The modus operandi and the open-end nature complete tokenization combined with decentralization is what makes Jay Clayton wary of approving a Bitcoin ETF. To the SEC, before this new product rollout, sponsoring exchanges should employ better monitoring tools to prevent market manipulation.
BTC/USD Price Analysis
BTC bulls are back. Following Friday’s super surge from spot rates, it is clear that bulls found support, bouncing off $3,500 at the back of decent volumes. All the same, this is bullish and as long as prices are above $3,500, we expect bulls to jump in and propel asset prices above $4,500 and even to $6,000.
While we may be bullish thanks to the injection of demand, we also recommend patience. Our minor bull trigger is at $3,800. It wasn’t retested on Friday neither was the follow through bars strong enough to close above this mark.
All we can see is that bulls of late Dec were confirmed as prices continue to oscillate horizontally inside a $1,000 range with caps at $4,500—Dec 2018 highs and recent lows of $3,500—Data streams from BitFinex.
As such, our previous BTC/USD trade plans hold true meaning it is only until after BTC surge above $3,800 that we shall initiate first positions with first targets at $4,500. Ideally, gains above Dec highs satisfactorily confirm bulls of the week ending Dec 23, 2018, forming the basis for a possible wave of higher highs with first targets at $5,800–$6,000 zone.
Bitcoin (BTCUSD) weekly forecast on February 18 — 24, 2019
Cryptocurrency Bitcoin (BTC/USD) is trading at 3587. Cryptocurrency quotes are trading below the moving average with a period of 55. This indicates a bearish trend for Bitcoin. At the moment, cryptocurrency quotes are moving near the upper border of the Bollinger Bands indicator.
Bitcoin (BTCUSD) weekly forecast on February 18 — 24, 2019
As part of the Bitcoin exchange rate forecast, the test level of 3820 is expected. Where should we expect an attempt to continue the fall of BTC/USD and the further development of the downward trend. The purpose of this movement is the area near the level of 2700. The conservative area for selling Bitcoin is located near the upper border of the Bollinger Bands indicator at the level of 3850.
Cancellation of the option to continue the decline in Bitcoin will be the breakdown of the area of the upper border of the Bollinger Bands indicator. As well as the moving average with a period of 55 and closing of quotations of the pair above the area of 4250. This will indicate a change in the current trend in favor of the bullish for BTC/USD. In the event of a breakdown of the lower border of the Bollinger Bands indicator bands, we should expect an acceleration of the fall of the cryptocurrency.
Bitcoin (BTCUSD) weekly forecast on February 18 — 24, 2019 implies a test level of 3820. Further, it is expected to continue falling to the area below the level of 2700. The conservative area for selling Bitcoin is located area of 3850. Canceling the option of falling cryptocurrency will break the level of 4250. In this case, we should expect continued growth.
BTCUSD Analysis: Bitcoin still trading in a bearish consolidation [Video]
Any upside moves are classified as corrective ahead of what could be the next downside extension and bearish continuation. It would take a break back above 4,380 at a minimum to take the immediate pressure off the downside. Next critical support comes in the form of the July and September 2017 lows, around 2,000 and 2,975 respectively.
In this analysis, we take a look at Bitcoin each day, highlighting all of the need to knows for anyone looking to extract up to date information about major levels and relevant trends, both short term and longer-term. The analysis is designed for the trader, investor and even those simply holding the crypto asset, looking for an idea of where they may want to consider making that next conversion.
The cryptocurrency update is new each day and is presented with an added layer of animation, in an effort to make the analysis as engaging as possible, while also communicating the message with respect to key trends and levels in an easy to understand, seamless manner with great value add to all.
Are Central Bank Digital Currencies (CBDCs) Net Positive Or Negative For Bitcoin And Crypto Assets?
Central Bank Digital Currencies (CBDCs) have been analyzed by several banking institutions around the world, specifically by several central banks in different countries. However, they are different than virtual currencies such as Bitcoin (BTC). How would the issuance of CBDCs affect Bitcoin and the whole crypto market?
There are some important differences between Bitcoin and CBDCs. For example, Bitcoin is permissionless, decentralized and censorship-resistant while CBDCs are permission, centralized and censorable. Thus, they are almost contrary to Bitcoin. While the most popular cryptocurrency provides freedom to users, CBDCs allow governments to have larger control over their populations.
A few days ago, the popular investment bank JP Morgan unveiled a stablecoin called JPM Coin that would be used to make transfers between customers in just a few seconds. Although JP Morgan’s CEO Jamie Dimon has been against virtual currencies, it seems that the bank will be using blockchain technology to power their virtual currency.
There were several individuals in the market claiming that the new JP Morgan digital coin killed Bitcoin, or at least, it is going to kill the most popular cryptocurrency in the market. However, it is important to understand that these coins will never be similar and work in a completely different way. CBDCs and stablecoins issued by financial institutions such as JP Morgan work in a centralized and controlled way.
Indeed, these new digital assets do not seem to present a threat to cryptocurrencies such as Bitcoin. SWIFT could be affected by these new coins. SWIFT is the mainstream and most popular system to perform cross-border payments. This system has proven to be slow and costly for many financial institutions and banks all over the world. Indeed, Ripple’s services could also be affected by the growth of new CBDCs.
CBDCs legitimize that virtual currencies are the future of money. Because of this, it might be possible for Bitcoin to distance itself from drugs and criminals. At the same time, with CBDCs individuals will discover that there are several advantages of using digital assets.
Individuals will clearly have their funds frozen at any moment using CBDCs if the financial institution regulating the asset decides so. Moreover, their accounts can be suspended and users would not be able to use these funds anymore.
There are some crypto experts that believe that CBDCs could be very harmful to societies. For example, China is currently trying to control its population with new surveillance systems related to how individuals use their funds.
Crypto fiat (i.e. government controlled permissioned cryptocurrencies) will be the biggest battleground globally for human rights over the next decade. China is leading the way, many other countries, including some big western democracies, will follow. https://t.co/8BqfmBJ2mP
— Ari Paul (@AriDavidPaul) February 13, 2019
With CBDCs, people will realize that there is no more freedom and that the government is ultimately controlling everything. This is why Bitcoin could grow as a safe haven where users can feel free to use their funds as they want without being controlled by governments.
That does not mean that Bitcoin will be used to perform illegal things. It means that users will protect their privacy and what they do with their funds.