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Bitcoin ETF: Latest updates and all you need to know

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Bitcoin ETFs are nothing but a type of Exchange Traded Funds which acts as a security for its underlying asset, here Bitcoin. Full analysis on ETFs

Complete insights concerning Bitcoin ETFs.

 

Various cryptocurrency advancements

Advancements in the cryptocurrency domain have alternatively spurred lots of other financial domains as well, due to the precise reason that the market is in its developmental stages. The cryptocurrency world has been continuously expanding since 2009, with thousands of cryptocurrencies and a variety of subdomains. All such activities of advancements directly contribute to the development of cryptocurrencies and help the market in attaining maturity. Security is the utmost priority for the cryptocurrencies, as they are more vulnerable to attacks due to their online nature, and constant improvements to secure the Bitcoin funds in alternate ways have been tried out.

 

Bitcoin ETFs would be a great venture

Bitcoin ETFs is one such initiative that has continuously been the center of discussion for various cryptocurrency blogs and discussion forums. Bitcoin ETFs are nothing but a type of Exchange Traded Funds which acts as a security for its underlying asset, here Bitcoin. An ETF tracks its underlying financial asset and distributes it in the form of shares before various institutions as well as the individual investors, and provide them with the choice of trading them. According to experts, the inception of Bitcoin ETFs would result in a higher stability of the crypto market, as it is traditionally traded on the stock exchanges.

 

How did Bitcoin ETFs start, along with dates

The Winklevoss twins had initiated a proposal before the Securities and Exchange Commission to trade Bitcoin ETFs, on the New York Stock Exchange along with Chicago Board Options Exchange. Their proposal was rejected by the Securities And Exchange Commission, as they cited Bitcoin ETFs to be highly regulated in nature.

Their second proposal towards the Bitcoin ETFs with certain modifications also had to deal with rejection on 26th July 2018. The solidX Bitcoin ETF is another Bitcoin ETFs which was proposed, but on August 7th, 2018 the decision regarding this particular Bitcoin ETF was postponed to September 2018. This particular Bitcoin ETF is highly talked about, as it is going to be listed on CBOE which also trades Bitcoin futures.

 

Further updates concerning Bitcoin ETFs

On August 23rd, 2018, it became apparent that the Securities And Exchange Commission was highly reluctant when it came to giving a green signal to the Bitcoin ETFs. According to the most recent update, on September 20th, 2018, the decision regarding the Van Eck SolidX ETF was again postponed by the SEC, due to its relaxing nature towards the Bitcoin ETF. This particular initiative would result in creating high amounts of liquidity within the Bitcoin market, and indirectly would elevate the functionalities of Bitcoin, in general. Many investors who are reluctant due to the unregulated nature of Bitcoin, might consider investing in it, through Bitcoin ETFs.

 

Various advantages and disadvantages of Bitcoin ETFs

One must know that this initiative of ETFs is towards the centralized economy and therefore the cost of security must be borne by someone and this burden would be in the form of related transaction fees. This might turn away many institutional investors from this initiative. The decisions of the Security And Exchange Commission is creating market fluctuations in the Bitcoin prices, as most of them consider Bitcoin ETFs to be, highly futuristic. It is to be known that, even if the Bitcoin ETFs would be permitted, then it would be launched not anywhere before January 2019.

 

Opinions regarding the Bitcoin ETFs through tweets

1. Gabor Gurbacs, director of digital asset strategy at VanEck mentions various pros of Bitcoin ETFs.

 

“What an #ETF brings to #Bitcoin: -Increased liquidity via the AP & ETF ecosystem -Lower counter-party risk -Better valuation and execution practices”

 

 

2. According to a Twitter handle, ‘Bitcoin ETF’, they are trying to find out the efficiencies of incorporating Bitcoin ETFs,

 

“ The Holy Grail for bitcoin bulls is a U.S.bitcoin ETF, which would truly bring the cryptocurrency to the masses #bitcoin #bitcoinfutures #bitcoinetf $btc”

 

3. According to The Element Group,

 

“ The VanEck SolidX #bitcoinETF represents the last credible hope for a near-term approval of a bitcoin ETF because there are currently no other outstanding applications in the pipeline.”

 

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#Bitcoin

Bitcoin institutional adoption rising: BTC price analysis

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Amidst the crypto winters which led to the price of bitcoin falling massively, institutional adoption is on a rise with many analysts predicting that the bear market was being manipulated by large institutional investors in order to buy bitcoin at the cheapest rates before the entering into the markets.

Greg Tusarm an ex Goldman Sachs executive is comparing the current situation in the cryptocurrency market as early days of equity trading according to Bloomberg. The ex Goldman Sachs executive sees a great future for bitcoin and other cryptocurrencies ahead and believes that there are a lot of opportunities for businesses in the crypto space. Greg has also launched his own crypto brokerage called Tagomi Holdings which is backed by large investment firms such as Founders Fund.

Just a few days back, Jeremy Allaire, the CEO of Circle predicted that the price of bitcoin along with other cryptocurrencies will be rising tremendously in the next 3 years.

Paypal Co-founder launches Tagomi Holdings Inc

Peter Thiel, the head of ‘Paypal Mafia’ which is a group of former Paypal employees and founders who have since founded and developed companies such as Tesla motors, Linkedin, Youtube etc. has successfully launched an electronic brokerage startup Tagomi Holdings Inc. The company will help to overcome operational challenges in relation to trading digital assets such as bitcoin. The launch was announced by the company in a press release. Peter had also claimed that Bitcoin can be a hedge against economic downturns. The Founders Fund led by Peter has made huge a massive fund allocation in cryptocurrency startups all around the world.

Bitcoin Price Analysis:

BTCUSD Bitfinex 24 hour chart

BTCUSD Bitfinex 24 hour chart

After being bearish for a over a month, bitcoin started a bull run yesterday rising over $200 in just a matter of minutes. Though time volumes are quite low in comparison to last year’s trading volumes, the current volumes are quite higher than the last few months. Since yesterday Bitcoin is continuing its bullish pattern currently trading around $3641 on Bitfinex (at the time of writing). The price is expected to rise further as a major bullish pattern is formed with the new key support at $3550 (In accordance to Bitfinex Chart). The major bullish pattern line formed will most likely push bitcoin price above $4000 in short term.

 

Bears turning bullish

Market analysts who were earlier predicting bitcoin to fall below $3000 have now started to make bullish predictions stating that the price of bitcoin can soon reach its original position above $6000 where it was trading earlier before the start of the bearish trend in November this year. More and more institutional investors are buying cryptocurrencies at the current price which is the lowest price for bitcoin for more than a year. Diar has reported that more and more institutional investors are shifting to large over the counter trades for buying bitcoin and other cryptocurrencies lately. The total market capitalization of cryptocurrencies has risen more than $12 billion in 2 days. On Monday, the total market cap was around $103 billion which today stands at around $115 billion.

 

The following article is not financial advice. The readers are advised to do their own research and analysis before making any investment decisions in the cryptocurrency markets. The following are the viewpoints of the writer and not Coinnounce.

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#Bitcoin

Seven Popular Ways to Earn Bitcoin

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Here we have enlisted some popular ways to start earning Bitcoin with the least possibilities of risks. You will discover some amazing opportunities

It has always been hard to believe that the blockchain-driven cryptocurrency is yielding a real-time value. The crypto-world is blurring the lines between the real and the virtual, therefore, now is the right time to join this virtual league of crypto-users and earn some Bitcoin. Even if you are fascinated by the idea, you must be troubled with the means to begin your journey with Bitcoin. Solving this issue, here we have enlisted some popular ways to start earning Bitcoin with the least possibilities of risks. You will discover some amazing opportunities to capitalize on the cryptocurrency trend and earn some extra bucks while coping-up with your regular jobs.

 

1. Bitcoin Mining

Bitcoin Mining is one most conventional way of earning Bitcoin. Mining is the process of solving mathematical operations using a set of computer hardware and software to create Bitcoin. It is not an easy job; Bitcoin Miners need to be ultra-skilled to be successful at this job. Since a lot of miners have entered the market, it is easily noticeable that the difficulty of this job is increasing exorbitantly. Though, taking the support of external devices with better processing ability can be a relieving factor.

 

2. Micro Tasks for Bitcoin

For those looking for small-scale means, you can go for some micro-tasks that pay in terms of Bitcoin. Cumbersome efforts are not required to do these micro-jobs. They are small, easy and less time-consuming jobs which may include watching an advertisement, posting on social media, filling a survey etc. This is similar to the ordinary micro-jobs; the only difference is the pay. The payment is done in the form of Bitcoin. The pay is low but apt in terms of the time invested and the low risks involved.

 

3. Invest in Bitcoin and Bitcoin Derivatives

It is the most recent development in the bitcoin world. It is a popular investment asset providing lucrative means of making money with Bitcoin. The most common way is to buy Bitcoin and sell them after a point when the price is increased enough to turn a profit. Using this method, people have turned millionaires after the record-breaking hike in the value of Bitcoin in 2017.
Investing in Bitcoin is a new yet extremely profitable source of investment. Before selecting one of the ways, opt for a rational approach. There is an infinite potential to earn in this market but being a beginner, begin with tiny steps. It requires heavy investments to earn heavy amounts which are not usually affordable. Bitcoin Investments can be fairly profitable but nobody can take charge of the reliability. They are risk-prone investments which tend to fluctuate all the time. One mindful suggestion could be to invest while considering your personal level of risk tolerance.

 

4. Bitcoin Games and Gambling

There are abundant games available online that payout in Bitcoin. The payments are equivalent to the amounts one would get by doing the micro-tasks. They are fun and enjoyable, something that micro-tasks can never be. If you are a gaming fanatic, look out for such games and get yourself rewarded.
Casinos and in the virtual realm are called the digital casinos, same goes for betting and Sportsbet is an extension of the same concept. It uses Bitcoin as currency while the rest of the elements remain the same. However, it’s not a reliable source of money. Indulge in bitcoin gambling and betting only if you don’t mind losing your money.

 

5. Become a Freelancer and take payments in Bitcoin

Freelancing is a profession almost everyone is aware of. There are multiple platforms that help buyers and sellers to trade services. The services range from making a graphic art to creating a computer algorithm. The buyers pay these freelancers for their bit of work.
A delightful twist in the process is the introduction of Bitcoin Payments. Only a handful of sites have introduced this feature. If you have a skill that you think you can sell, join such site today!
Freelancing is a good option for various reasons. First of all, unlike mining or investing, there are no initial costs. You just have to log in, create a profile and start making gigs. Second, you can earn decent amounts. You will be paid for a skilled job, unlike the micro jobs. Third, you will get better at your work and get recognized for your work. Freelancing is a reasonable way to earn bitcoin without investing a large amount of money.

 

6. Bitcoin Blogging monetized with Bitcoin-based Advertisements

Bloggers earn through their content on their websites. They place ads in between the content and the more clicks they get, the more money they make. If you wish to earn Bitcoin by content creation, you can sign-up Bitcoin-based ad network. These networks pay in terms of Bitcoin.
The ads on the blogs match the context of the content. That is why it is always a good idea to create content that revolves around cryptocurrency. This method allows you to diversify your income stream into two. You can earn Bitcoin and Dollars simultaneously from one website.

 

7. Lend your Bitcoin

Lending is a very traditional way of earning a passive income and the now the same proposition holds true with Bitcoin and other cryptocurrencies. ‘Peer-to-peer lending’ is an emerging form of lending which is done via online portals. It has eradicated the roles of the bank and other financial institutions. You can earn Bitcoin through loans by using one of these lending platforms. Remember that you need to have some initial Bitcoin in the first place, to begin with, this practice. Also, the default is a possibility in the lending process. Make sure that the person taking the loan is reliable enough to return your Bitcoin along with interest.

 

We thank Davey Cross for this guest post.

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Bitcoin Whale Alert: 5351 BTC transferred to Bitfinex

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Just a few hours ago, around 5351 Bitcoin was transferred from unknown wallets to Bitfinex exchange probably for selling when the bulls show up.

Bitcoin showed quite a bullish momentum today rising around $200 in just a couple of hours. Bitcoin is currently trading around $3397 (at the time of writing) according to CoinGecko. The current price is a bonus for the bitcoin whales who were waiting for the best moment to sell their holdings in the midst of crypto winters. Though bitcoin showed bullish pattern today, the market trend still seems to be bearish as market analysts are predicting that the current bounce is just an illusion which is soon going to turn into a disaster for the price of bitcoin. Seeking the best opportunity, big bitcoin whales were already ready to sell their holdings in order to gain profits when the market crashes again.


 

Just a few hours ago, around 5351 BTC were transferred from unknown wallets to Bitfinex exchange probably for selling when the short term bulls show up. Here are the details for the transactions:

 

Transaction 1: 1909 BTC

https://www.blockchain.com/btc/tx/622ddee30e9b5bbac2053ef4042d37e8ba6b2728ccdcedc85f5aac4c8a3fa9a3

 

Transaction 2: 1721 BTC

https://www.blockchain.com/btc/tx/39616ab5255bf9c58875f66431e06b4c57b4825bebb912e246585b290a8440b9

 

Transaction 3: 1721 BTC

https://www.blockchain.com/btc/tx/a9ed866dcb578155cefa2d8bce16a1b22f4ff016584f8ff131437a944025316b

 

The crypto market trend is quite bearish at the moment with the price of bitcoin crashing down from above $6500 to around $3200 in just a month of time. The small-time investors should be quite cautious while trading in such a market situation as the large whales maybe waiting for the best time to make a profit out of your anxiety.

 

The following article is not financial advice and readers are advised to do a thorough research and analysis before making any investment decisions in the crypto market which is quite volatile.

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