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Bitcoin, Ethereum, Litecoin: Price Analysis September

The views and opinions expressed here are solely those of authors/contributors and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

Bitcoin/USD 07.09.2017

Chinese ICO ban was this week’s hot topic. The news hit the market and it instantly reacted. Bitcoin looked stronger than the rest of the market but was going down as well.

The $4400 support level was easily hit, even though it used to be a key level in August.

Current situation:

  • Since the downfall was caused by the big news, the resistance zones did not work out. As a result, a local $4400 support zone has been formed.

  • Following the news, BTC hit a strong uptrend line. A strong downtrend formation could have started, but the price has recovered really fast. It’s a rather bullish sign.

  • The major news flow is expected later this year in November.

Scenarios:

  • $5000 high test. BTC will probably test high if the rest of the market will show strong growth. For now, no strong triggers that could cause movement.

  • In case of the market being stable, $4400 level can show its strength. During possible slight corrections watch for volumes around the $4400 zone. This level has been rather strong in August, so it’s possible that buyers’ consolidation will happen there.

  • $4000 test. Round levels are traditionally very strong. $4000 level is no exception. If the general market correction happens, then this level will become a key <Read More>

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How to Make Profit: Basic Rules for Beginners in Bitcoin Trading

There has been a protracted debate on the actual identity of Bitcoin, whether it should be regarded as a currency or a commodity.

With reasonable support on each side of the debate based on its inherent characteristics, a huge segment of the ecosystem is of the opinion that Bitcoin can, and should be regarded as both a currency and a commodity.

Whatever definition attached to Bitcoin, the constant variation in price offers an opportunity for investors to make a profit by trading the cryptocurrency, either as a long term investment or in a speculative short term pattern.

Can a few hundred dollars make you a bitcoin millionaire?

Cryptocurrency is all over the internet, however there was only one that really made it work, and that was Bitcoin. “Bitcoin” has all the infrastructure that Billionaires around the world have invested in. Now you have the opportunity to become the next bitcoin millionaire <Learn More>

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How Bitcoin Rescued Victims of Hurricane Harvey

The International Cherch of Blerk, a registered crypto-based 501(c)(3), and recognized religion, is revolutionizing peer to peer charitable works. They are using crypto currency to target aid where it’s needed most.

Hurricane Harvey

After Huricane Harvey struck South Texas, Cherch of Blerk Executive Director Jason Seibert, along with Blerk Medical Director, Dr. Rhiana Ireland, loaded up a truck with a chainsaw, generator, fuel, water and coffee and drove as far into the storm as they could. They finally arrived in Bay City, Texas in the heart of hard-hit Matagorda County after dodging tornadoes and plowing through pouring rain.

In the following days, Seibert and Ireland coordinated the creation of several shelters in the Galveston County area.

Dr. Ireland was recognized nationally for her life saving efforts in JEMS (the Journal of Emergency Medicine). Seibert implemented infectious disease control protocols in food service and meal plans, ran a makeshift kitchen, and produced nearly 12,000 meals for four shelters. Blerk ran all the efforts, advising local officials on how to proceed and how to create new shelters. Blerk even ran medical supplies between shelters as the Red Cross was nowhere to be found.

Bitcoin to the rescue

While running supplies, Blerk’s trucks died. With only a few hours’ notice, Blerk found a truck on the north side of Houston, however, wire transfer of funds was not possible due to the limitations of banks and the time of day. Relying on banks would mean that Blerk would have no transportation for five days..

Jason Seibert contacted Robert Gonzalez, founder of the over the counter (OTC) trading company UTXO, LLC. Gonzalez collaborated with Jesse Wilkinson, a well-known OTC trader in Dallas/Fort Worth area, for a solution. Jason liquidated personal crypto assets <Read More>

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Number of Bitcoin ATMs Will Increase in Australia from 20 to 500

Australia could gain up to 500 two-way Bitcoin ATMs following a partnership between two native fintech firms.

Under the deal between Stargroup and Digital X, bespoke ATM software will run in tandem with a special API to ‘retrofit’ Stargroup’s standard ATMs with Bitcoin purchase and sales functionality.

Once complete, a full roll-out would see the number of Bitcoin ATMs increase in multiples from the current nationwide total of just 20 machines.

“This development may also be able to be applied to other cryptocurrencies and be distributed internationally,” Stargroup’s CEO Todd Zani said in an accompanying press release.

Australia has been comparatively quiet in the ATM sector until now. In the US, competition has heated up among manufacturers aiming to corner the market with roll-outs of dozens of machines across the country this year.

The move marks a show of confidence from <Read More>

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How Much $100 Investment in Bitcoin A Year Ago Worth Now?

Bitcoin price managed to rise above the $5,000 mark in trading today, fulfilling the expectations and predictions of a number of Bitcoin faithful. However, it has also led to widespread concerns that a bubble is forming that will eventually crater the portfolios of many investors.

The massive rise is difficult to grasp, without considering what the value of what an investment would be had it been purchased last year.

Consider an average investor who purchased $100 of Bitcoin in September 2016 when Bitcoin was selling for $572. Had they managed to hold the currency through all the ups and downs of the last year, they would be sitting on $850 with today’s $5,000 price point.

Is there an easier way to turn a few hundred dollars into thousands?

Billionaires around the world have invested in bitcoin.  Now you have the opportunity to become the next bitcoin millionaire; regardless, of the bitcoin price.  <Learn More>

Bubble talk

This fantastic level of value growth in a short time has led to wide speculation that Bitcoin is in a bubble. Consider Bloomberg’s analysis via Twitter:

While it is clear from the chart that the Bitcoin price has skyrocketed in recent months, pundits disagree with the bubble analysis. Industry leaders who are otherwise notoriously bearish have seen substantial growth potential for Bitcoin.

The argument is that Bitcoin was substantially undervalued until this recent run-up, and that the only thing that had limited its growth potential was increasing mainstream adoption.

New Satoshi Cycle?

However, as news of returns spread, adoption will certainly increase, leading to greater levels of investment and growth.

This cycle of adoption and growth leading to greater adoption and growth (termed a Satoshi Cycle) may well drive prices far higher in <Read More>

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Gold Losing Safe Haven Status Due to Cryptocurrencies, Monetary Policy

Gold prices jumped 1% on Tuesday morning, fueled by geopolitical and market concerns, with the latest North Korean missile launch being the immediate catalyst.

However, according to Bloomberg, the jump in gold prices is a ‘too little too late’ response to the general state of geopolitics and market uncertainties. The precious metal appears to be losing its ‘safe haven’ status. Traditional models should have gold prices well above what they are now, and there are two things to blame for gold’s relatively poor performance.

Eroding Gold

Part of the reason gold hasn’t performed as well as expected is because investors are shifting their funds to digital currencies. Currencies such as Bitcoin have held their value quite well during recent crises, such as Venezuela’s hyperinflation.

Unconventional monetary policies by central banks has also eroded a bit of gold’s value. The unwinding of central bank balance sheets which must eventually happen is leaving investors nervous. Some of them are seeking a safe haven in Bitcoin.

Investors have fled the precious metals and stock markets in favor of the greater returns and general stability of Bitcoin and <Read More>

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Radio Host Raises $50k in Dash and Bitcoin to Help Hurricane Victims

Hurricane Harvey pummelled the State of Texas and the Gulf Coast, causing massive damage and displacing hundreds of thousands. It will undoubtedly go down as one of the worst hurricanes to hit the United States in decades.

Danny Sessoms, host of a cryptocurrency-themed radio show based in Austin, teamed up with Unsung.org to hold a fundraiser for the Hurricane Harvey victims. On his radio show, Sessoms announced that he would be accepting donations via the digital currencies Bitcoin and Dash, and would use those funds to buy basic necessities for the victims.

This effort raised about $50,000, and Sessoms stocked up his RV with goods purchased at Wal-Mart, and hit <Read More>

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Bitcoin Price Hits New All-Time High, Industry Expects $5000

Bitcoin has reached a new all-time high of $4580 as prices shoot up a further six percent in 24 hours.

Data from Coinmarketcap shows averaged exchange trading values at $4576 as of press time Tuesday, a clear $130 higher than the previous all-time high on Aug. 15.

Reacting to the news, industry commentators were quick to praise previous bullish price forecasts from figures such as John McAfee and Max Keiser, who are confident $5000 per coin is an imminent occurrence.

There’s been similar action for <Read More>

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Cryptocurrency Market Cap Reaches Record $161 bln, Investments Flow

The cryptocurrency market cap has passed $160 bln for the first time, as trading platforms post new records.

Data from Coinmarketcap and Coin Dance show market activity and growth spiralling in the week ending Aug. 26.

The growth to almost $162 bln caps an extraordinary month for cryptocurrency, which began in August below $90 bln.

ICO token popularity has contributed to the sudden increase, with Bitcoin dominance falling below 50 percent once again in the second half of the month to currently sit at just below 45 percent.

At the same time, trade volumes for Bitcoin shot up last week in line with steadily increasing prices.

Localbitcoins posted its second-highest weekly figure of $44.4 mln for the seven days to Saturday, while fellow platform Paxful established a new all-time high of $8.7 mln.

Funds flowing into cryptocurrency versus traditional assets has become an increasing talking point in recent weeks.

Mainstream investors have gone on record to state their preference for crypto over gold or commodities for the rest of 2017, while figures highlighted by Chinese exchange BTCC today show the extent to which gold has taken a back seat for <Read More>

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Investors Pull Billions from Stocks As New Bitcoin, Crypto Options Appear

The withdrawal of funds from stocks and precious metals has coincided with the massive price increase of Bitcoin and other cryptocurrencies. It seems that investors have realized that Bitcoin is a more stable ‘store of value’ investment than gold.

CNBC has reported that the stock market has seen the largest withdrawal rate since 2004, with more than $30 bln being taken out of the markets over the past 10 weeks. The major withdrawal also included a huge abandoning of precious metals.

Precious metals at loss

Private client allocation to precious metals has seen a massive reduction, with portfolios holding 10 percent in 2013 being reduced to below two percent in recent weeks.

The precious metals investment decline has coincided with a removal of funds from the stock market overall, with investors choosing to pull back from the market, though the market continues to post gains. Concerns about current market levels and monetization policies may be fueling to flight.

Crypto-investment opportunities

Blockchain technology is producing new investment opportunities <Read More>