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.

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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>

Bitcoin, Ethereum, Litecoin: Price Analysis, August 31

BTC/USD 31.08.2017

After multiple retests, the $4400 resistance zone has been hit by a powerful impulse. Though not so long ago, one can assume that the new resistance zone in the BTC/USD pair is $4650.

Technically, the picture is as follows:

  • $4400 is the support zone. There has been no full-blown retest, therefore $4400 test scenarios are highly likely.
  • $4650 is the resistance zone. We’ve seen a lot of buys at this level over the last couple of days.
  • Globally, the uptrend continues. But the movement has slowed down a bit, as there is probably a gradual shift of money flow from BTC to altcoins.

What to expect:

  • The most likely scenario of price behavior for the coming week is in the $4400-$4650 range. BTC will experience tests of support and resistance zones without any rapid price movements during the last hours of summer, after impressive growth in August.
  • The uptrend pressure may hit the $4650 zone. Apart from that, there are no other triggers. There’s no breaking news that could influence the price. In case a hit does take place, it’s very likely to be false.

The only factor that can profoundly change the course of <Read More>

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>

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 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>

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>

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>

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>

A Teenage Bitcoin Millionaire is Launching Taylor Swift’s Music Into Space

Bitcoin millionaires are being made every day as the cryptocurrency’s value continues to climb. One making waves in particular is Erik Finman, who first invested in Bitcoin in 2011 – when he was only 12 years old.

Now, Finman is working to send a multimedia time capsule into space. He’s gathering videos from artists and fellow teenagers. The archive will also reportedly include Taylor Swift’s album “1989” and contributions from X Prize founder Peter Diamandis. Finman told TechCrunch that the archive element of the project is meant to commemorate the 40th anniversary of the Voyager probe launch, which <Read More>

Pro-Bitcoin US Congressional Candidate Starts Accepting Bitcoin Donations for 2018

Former New York State Legislature staffer Patrick Nelson is accepting donations in Bitcoin for his candidacy as congressman for New York’s 21st Congressional District. Nelson has filed his candidacy in early 2017.

According to Nelson, he is accepting contributions as a candidate through the payment processor BitPay.

He added that taking Bitcoin as donations reflects his <Read More>

Chinese Producer Embeds Bitcoin Mining Chips In Household Appliances

Chinese electrical appliances manufacturer, the Midea Group, has filed a patent for a technique for mining Bitcoin using household products. The patent application was published earlier in 2017 by the State Intellectual Property Office (SIPO) of the People’s Republic of China.
Based on the patent application, Midea plans to embed specialized mining chips inside its appliance products like air conditioners, dehumidifiers, and TV for the purpose of digital currency mining. Once the chips are programmed, the products will then connect to a cloud-based service and contribute their hashing power to mine cryptocurrencies.

Midea Group

The Midea Group currently ranks 450 on the Fortune Global 500 list as of August 2017. The company has more than 125,000 employees around the world. The household appliances manufacturer posted over $22 bln in revenue and $2 bln in profits for its fiscal year (FY) 2016.

Among the products manufactured by the firm are <Read More>