Search Results For: nasdaq
5 Jul
4
Four charts that suggest Bitcoin value could be at 10,000 USD next year
Has the Bitcoin Value bubble burst? Looking at the most recent prices, we seem readier for a gentle nosedive than a new rollercoaster ride to the top. Many altcoins are heading down too: Litecoin, Peercoin and your beloved Dogecoin are all in a steady slide to the drain of the cryptocurrency world. But looking at the charts below, many would argue that Bitcoin is up for a new rise to 10,000 USD. This recent bubble wasn’t the first bubble, and it won’t be the last for Bitcoin.
You see that tiny top in April 2013? That was a bubble just like the most recent big one. It was playing out on a lower price level, but the percentage rise was equally big. There have been more bubbles in markets ever since markets were invented. All start with a slow rise in price, then a parabolic jump to the top, and the inevitable crash and rebound. At the end of every bitcoin bubble, the value is about 2x higher than what it was. Every time.
To see this trend in action, we have to display the price on a logarithmic scale. This is useful for values that grow exponentially.
The chart below shows us the Bitcoin/USD value over the same 2013-2104 period on a logarithmic scale.
The chart below shows us the Bitcoin/USD value over the same 2013-2104 period on a logarithmic scale.
This is the very same chart, but on a different scale. You can see exponential growth, more or less stable over the years. In 2012 the price grew from $5 to $13. In 2013 from $13 to $800. If we make a similar jump in 2014, we come to the (crazy) price of 10,000 per bitcoin. For this the value only has to continue its trend. Following the full 2012-2014 chart on bitcoinwisdom, one can see continious valleys followed by spikes. We are currently in a valley, which is very good news. What will be the value in 2015? The chart below takes an educated guess:
Google Trends on Bitcoin
The fact that we are in a valley is confirmed by Google. Google trends shows us how popular a keyword is. It tracks the number of searches for ‘Bitcoin’ and other keywords, and displays that in a graph over time. The resulting chart of user interest shows peaks and valleys corresponding in time with the peaks of the price, as can be seen in the excellent research in this forum post.
Does this mean more user interest increases the price? Or does a higher price generate more user interest? We can’t be sure, but it is clear that they go well together. We are currently in a valley of user interest, which means another top is in the make. Bitcoin news is widespread, but how many people do you know that own one? According to wallet counts, the number of current Bitcoin users has hardly reached more than one million yet. Bitcoin is at it’s very infancy.
“Bitcoin is still in the earliest phases of industry development. The first years of Bitcoin were about building the infrastructure. Bitcoin entrepreneurs were busy setting up the most basic but fundamental aspects, including wallet and mining services. Today, Bitcoin is just starting to enter the investment phase, where venture capitalist, hedge funds and other financial firms are starting to invest money and capital into this nascent technology. Bitcoin isn’t quite ready for the consumer phase, where end users begin to utilize the services. If the entire history of Bitcoin was a clock, we’re still in the very early time. I would say were maybe in the second second of the entire history.” Nicholas Cary, CEO of Blockchain.info (source)
The next jump in price could be ignited by the Winklevoss brothers bringing Bitcoin to the Nasdaq, or by the SecondMarket Bitcoin Investment Trust handing over Wall Street dollars. But wherever it comes from, the charts are definitely bullish. My advice is simple. Buy now, and wait.
Disclaimer: The (funny) definition of an economist is “Someone that can use economic theory today to explain why he got all his predictions wrong yesterday“. The market is unpredictable and I can’t always be right
Open your free digital wallet here to store your cryptocurrencies in a safe place.
2 Jul
1
Winklevii Bitcoin ETF under the ‘COIN’ symbol
A recent filing with the SEC by none other than the Winklevii themselves, reveals some new developments in regards to the twins’ highly-anticipated and upcoming bitcoin exchange traded fund (ETF).
The Winklevoss twins recently filed an amended Form S-1 with the Secutiries and Exchange Commission. While the form acted as nothing more than an update to keep the SEC informed, the filing has revealed what many have been wondering since they first heard of the ETF — the ticker symbol.
The update acts as the fourth filing in total since the ETF’s initial proposal; the process as the twins have explained, is a daunting one that requires a grueling, yet meticulous process. The fund; however, has come a long way since its beginning, which was originally filed for on 1 July 2013.
As some have speculated, evident of the twins’ latest filing, the first of its kind bitcoin ETF will trade on the NASDAQ under the ‘COIN’ symbol.
According to the Wall Street Journal the filing has divulged some of the concerns shared by the twins when it comes to the risks associated with the up and coming ETF. Among those include government regulation, Bolivia’s recent central bank ban and Switzerland’s latest legislative ruling.
On top of the more regulatory risk factors, the filing has revealed what the twins feel to be the technological factors that could threaten the digital currency’s well-being. This including the much-raved about possibility of a 51% attack in addition to what others have voiced as a concern of what would happen if the core developers suddenly stopped sustaining the bitcoin protocol unless they are compensated.
The question everyone wants to know; however, remains a mystery. Which is when the ETF will launch. While the twins are diligently working to make sure the fund is indeed launched as soon as possible, it will for now remain a mystery as to when the ETF will be up and running, this is in part due to the strict laws surrounding these type of filings.
In a conversation with CoinDesk, Cameron Winklevoss reiterated that he cannot speak on a launch date but he did provide a brief statement in respect to the now-revealed ticker symbol:
“Identifying the ticker symbol and the exchange are two major events that further demonstrate that we are moving forward as expected.”
The overall vision of the twin’s bitcoin ETF is to make it simple for institutional investors to buy and sell bitcoin without having to endure the risk of owning bitcoin themselves. The ETF aims to make the digital currency easily accessible to investors of any size, while providing a liquid platform that makes it possible for investors to move in an out of their bitcoin positions with ease.
The Winklevoss twins currently own a reported 1% of all bitcoins in circulation, the twins are well known for their ambitious price targets throughout the bitcoin community of which they expect to see a $40,000 coin in the near future.
Open your free digital wallet here to store your cryptocurrencies in a safe place.
28 May
0
Bitcoin backers work to make it mainstream
When Bitcoin emerged five years ago, it was the payment system many
geeks and enthusiasts had dreamed of: an international, decentralized,
anonymous, and transparent virtual currency that could potentially
replace inefficient traditional ones.
geeks and enthusiasts had dreamed of: an international, decentralized,
anonymous, and transparent virtual currency that could potentially
replace inefficient traditional ones.
(Forbes) As investor Andy Kessler recently wrote in
the Wall Street Journal, Bitcoin participation requires “a certain
faith in the benevolence of strangers.” But instead, the general public
is ambivalent at best about the virtual currency, while
many Bitcoin-related startups fight an uphill battle to convince the
world that it is at least comparable to its established counterparts, if
not better. Some retailers are pro-Bitcoin as well. Overstock.com and
TigerDirect now accept it as payment.
the Wall Street Journal, Bitcoin participation requires “a certain
faith in the benevolence of strangers.” But instead, the general public
is ambivalent at best about the virtual currency, while
many Bitcoin-related startups fight an uphill battle to convince the
world that it is at least comparable to its established counterparts, if
not better. Some retailers are pro-Bitcoin as well. Overstock.com and
TigerDirect now accept it as payment.
And three weeks ago, Cameron and Tyler Winklevoss, famous for having been portrayed in the movie The Social Network, disclosed that they would list a Bitcoin exchange-traded fund on the Nasdaq. The Winklevoss Bitcoin Trust aims to make investing in bitcoins as easy as buying shares of a public company.
The Winklevoss twins, who have themselves been Bitcoin investors for
some time, are also bullish on the future of the digital currency and
believe there should be easier ways to invest in it. They established
their fund for people who are eager to invest in the currency, but who
don’t want to actually own bitcoins. Their first-of-its-kind
exchange-traded fund can be bought and sold on the public markets like a
stock or an index fund. Previously, people interested in trading
bitcoins as an asset class had to store the currency themselves and take
on the risk that goes with that. The brothers were recently quoted
saying their business will remove “the friction of buying…while offering
similar investment attributes to direct ownership”.
some time, are also bullish on the future of the digital currency and
believe there should be easier ways to invest in it. They established
their fund for people who are eager to invest in the currency, but who
don’t want to actually own bitcoins. Their first-of-its-kind
exchange-traded fund can be bought and sold on the public markets like a
stock or an index fund. Previously, people interested in trading
bitcoins as an asset class had to store the currency themselves and take
on the risk that goes with that. The brothers were recently quoted
saying their business will remove “the friction of buying…while offering
similar investment attributes to direct ownership”.
Whether they rally Bitcoin adoption or not, they certainly remove some
longstanding obstacles to its viability as a consumer product. It’s
likely that in the coming months new services will continue to emerge
that aim to make Bitcoin mainstream.
longstanding obstacles to its viability as a consumer product. It’s
likely that in the coming months new services will continue to emerge
that aim to make Bitcoin mainstream.
Open your free digital wallet here to store your cryptocurrencies in a safe place.