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    [Daily Discussion] Thursday, September 06, 2018 Bitcoin Markets

    September 06, 2018

    [Daily Discussion] Thursday, September 06, 2018 Bitcoin Markets

    [Daily Discussion] Thursday, September 06, 2018

    Posted: 05 Sep 2018 09:05 PM PDT

    Thread topics include, but are not limited to:

    • General discussion related to the day's events
    • Technical analysis, trading ideas & strategies
    • Quick questions that do not warrant a separate post

    Thread guidelines:

    • Be excellent to each other.
    • Do not make posts outside of the daily thread for the topics mentioned above.

    Other ways to interact:

    submitted by /u/AutoModerator
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    [Altcoin Discussion] Thursday, September 06, 2018

    Posted: 05 Sep 2018 09:06 PM PDT

    Thread topics include, but are not limited to:

    • Discussion related to recent events
    • Technical analysis, trading ideas & strategies
    • General questions about altcoins

    Thread guidelines:

    • Be excellent to each other.
    • All regular rules for this subreddit apply, except for number 2. This, and only this, thread is exempt from the requirement that all discussion must relate to bitcoin trading.
    • This is for high quality discussion of altcoins. All shilling or obvious pumping/dumping behavior will result in an immediate one day ban. This is your only warning.
    • No discussion about specific ICOs. Established coins only.

    If you're not sure what kind of discussion belongs in this thread, here are some example posts. News, TA, and sentiment analysis are great, too.

    Other ways to interact:

    submitted by /u/AutoModerator
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    Coinbase is exploring a crypto ETF, and it has sought help from $6 trillion Wall Street giant BlackRock

    Posted: 06 Sep 2018 07:18 AM PDT

    Business Insider reporter Frank Chapparo is reporting that:

    • Coinbase is looking to create an exchange-traded product tied to crypto, according to people familiar with the matter, as a way to allow retail investors to gain access to the volatile market.
    • The firm in recent weeks has held conversations with members of BlackRock's blockchain working group to tap into the firm's expertise at launching exchange-traded products.
    • Coinbase announced in March an index fund of cryptocurrencies aimed at accredited investors. An ETF, however, is geared towards more mainstream investors.
    • If Coinbase were to develop a crypto ETF, it would join a number of other firms also looking to launch their own, including rival Gemini, Bitwise Asset Management, and VanEck.

    Article URL: https://www.businessinsider.com/coinbase-is-exploring-a-bitcoin-etf-2018-9

    Archived URL in case of paywall: https://web.archive.org/save/https://www.businessinsider.com/coinbase-is-exploring-a-bitcoin-etf-2018-9?r=US&IR=T

    Thoughts?

    submitted by /u/dnivi3
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    16 Predictions for the Bitcoin Price from Industry Experts

    Posted: 06 Sep 2018 12:38 AM PDT

    Source: https://hackernoon.com/experts-forecast-bitcoin-will-rise-by-2019-f4af8807036b

    1.Gavriel Shaw, CMO at Bitcoin.com:

    As a hobbyist trader and self-proclaimed market psychologist, my best guess at the bitcoin price by January is 'way up' due to strong market forces and price chart patterns. A break-out appears to be imminent and it will be a very strong bull run. By Jan 1st… BTC at $10,500 and BCH at $1,500.

    2.Khaled Khorshid, Co-Founder at Treon ICO:

    In my view, we did not see BTC getting dumped nor have we seen it brake it's crucial resistance points since August 15. I believe, if the SEC approves the BTC ETF by late September, we'll see the price rally reaching its all-time of high of around $20K before the end of 2018.

    3.Alexander V. van Dijl, Financial expert:

    At the beginning of this year I predicted a bitcoin value of 150.000. While that seems like a lot today, I believe some firm price movements will take place in the (very) near future. Something big will happen, perhaps a large retailer will accept bitcoin, perhaps adult advertising will accept bitcoin as payment. Something big will happen that will cause the price to skyrocket again. 150.000 is my prediction for January 1st.

    4.Ronald Shi, Head Trader/Analyst at Virtuse Exchange:

    Bitcoin is often called "digital gold" and we often find a resemblance between the two. The volatility and price action of bitcoin today resembles the same price movement of gold prices in the 1980s. We believe that Bitcoin prices are in its late bear phase and if a Bitcoin ETF being approved by the SEC before October, bitcoin sentiments will turn and creep back to the $10,000-$12,000 range.

    5.Luke Lombe, Head of Blockchain at PlayChip:

    We've been in a strong bearish trend for all of 2018. Institutional money has been accumulating during the lows and I expect some positive developments on the ETF front within the next 6–9 months. If we can break the back of this bear run and push past US$8500, by January 2019 Bitcoin should be around double where we are now = US$12600.

    6.Eric Brown, Founder and CEO of Aliant Payment Systems:

    My Bitcoin price prediction for 1 January 2019 is $23,000.We were practically at this price once, and we know what it takes to get it back there. We are very much in the infancy of this type of currency, and as technology grows, so does the value of the currency. The future is technology and Bitcoin is the currency of that technology.

    7.Hans Battle, Co-Founder and CFO of Incremint:

    $10,000 — "After a period of obvious, frenzied speculation, we're now seeing a pickup in requests for our escrow services in bitcoin for actual commercial applications. This will provide a floor in underpinning bitcoin's value

    8.Sam Russell, Co-Founder / EVP Strategy and Innovation at WORBLI:

    If the fundamentals on Bitcoin positively change in September with the upcoming proposals for an ETF approval by the SEC, we can expect buying pressure to increase pushing price up to previous market structure highs of $11,400 testing resistance in that area. Should that happen, Bitcoin would effectively change in trend. My guess — 17,000 USD.

    9.PK Banks, Co-Founder at CBlocks:

    Using a very conservative and reasonable framework, it's easy to see that bitcoin is currently undervalued, relative to its historical average. Bitcoin typically trades in a range of about 1.30 to 1.75 times its 200-day moving average (200 DMA). 9,420 within the next 4–5 months is easy to achieve, when bitcoin mean-reverts to a 1.25–1.40 200 DMA.

    10.Collins Brown, Co-Founder at Market Protocol:

    $14,000 BTC/USD. Bitcoin has shown a tremendous amount of resilience relative to the rest of the market as prices have declined. As we continue to work through this bear market, sentiment will eventually turn and BTC will be the largest benefactor over a short time horizon.

    11.Kyle Fournier, Crypto Analyst at CryptoManiaks:

    On January 1st, 2019, I expect the price of Bitcoin to be about $10,000.

    Bitcoin and the crypto market go through clear cycles of bull markets followed by bear markets. Vitalik Buterin, the creator of Ethereum, tweeted on July 31 of this year saying that we're at the tail end of this crypto bubble. Bitcoin will soon start to gradually climb back up.

    12.James Stefurak, Founder at Monarch Research:

    Our year-end bitcoin target is $7700. Two main sources for this demand-

    1) Tariff tensions increase the need for faster executions for import-export businesses

    2) inevitable approval for a bitcoin ETF, probably within twelve months.

    13.Kyle Asman, Co-Founder at BX3 Capital

    I believe Bitcoin will hit $24,500 by the 1st of the year. When the Bitcoin ETF gains approval toward the end of September, Bitcoin should be around $7,000 and will see an increase of about 350% like the gold ETF did when it gained approval. The price of Bitcoin will continue to move higher throughout 2019.

    14.Sam Olmsted, Consultant for Pelicoin:

    At the beginning of 2019, Bitcoin is expected to hover right above $10,000 per coin. As global currency markets like that of Venezuela see hyperinflation, confidence in Bitcoin and other cryptocurrencies will increase and raise prices.

    15.David Hanson, Co-CEO of gaming distribution platform Ultra

    I believe bitcoin will see a slight price recovery, rising to $8,500 by January 2019.

    Following the SEC's rejection of the Winklevoss ETF last month, the price of bitcoin and other cryptocurrencies fell, however the effects of that will not be long-lasting. Similarly, I believe that the SEC will reject all ETFs for the rest of the year, but this will not cause the price of bitcoin to crash.

    In fact, it will be beneficial to investors and encourage them to revert to the fundamentals and think long-term, as opposed to speculating in the short-term.

    After bottoming out at $5,400, bitcoin will go sideways for a few months before recovering slowly and climbing back to $8,500.

    16.Danny Scott, CEO and Co-Founder at CoinCorner:

    Based on our existing data combined with industry trends, we predict the price of Bitcoin will level around $15,000 by 1st January 2019. We take this view as the industry is growing at a healthy rate, with the retail market developing steadily and considerable new interest from high net worth individuals and institutions being recorded.

    submitted by /u/CryptoTrue
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    Uzbekistan just opened the world's first government-backed crypto exchange with South Korea's help

    Posted: 06 Sep 2018 08:15 AM PDT

    reported in thenews.asia

    Uzbekistan's new cryptocurrency exchange is expected to be exempt from taxation on corporate and investor profits, including investment from non-residents of Uzbekistan. Cryptocurrency transactions will also not be in violation of existing laws on currency regulation. This should include trading cryptos on the new exchange and liquidating for fiat.

    Sources working directly with the development team for the exchange state confidently that Tong Bloc will be the first Korean company to take advantage of Uzbekistan's new cryptocurrency haven. Tong Bloc CEO, Jingil Lee, serves as CTIO of the Uzbek exchange.

    Following this news, Uzbekistan is expected to become a new special coin region in the same fashion as Malta. Blockchain companies will likely begin to flock to the central Asian country to enjoy the benefits of relaxed laws related to cryptocurrency.

    submitted by /u/CoKBrian
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    Descending Triangles have a 64% Chance of Breaking Down in Traditional Markets.

    Posted: 06 Sep 2018 12:24 AM PDT

    Hi traders,

    According to T. Bulkowski, descending triangles like the one that's been forming for a few months now have a 64% chance of breaking downwards in traditional markets.

    On the bullish side, this last dump could signal the second higher low since $5700.

    Do you see the possibility of a dump below $6k?

    Full analysis with links to resource here: https://www.f0x.tips/fffe8e40

    submitted by /u/DanJaay
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    China Leads the Way in Blockchain Patents: Report

    Posted: 06 Sep 2018 07:55 AM PDT

    American companies still own the lion's share of blockchain patents, but Chinese firms are closing in fast, according to a report from the Chinese site IPR Daily. Looking at patent filing data from the US, Europe, China, Japan, and Korea, the report found that in the first half of 2018, Chinese companies filed for more new blockchain patents than anyone else.

    In fact, among the top 20 most active companies filing, Chinese firms accounted for 537 of a total of 880 patents filed, or 61%. And it was a Chinese company, Alibaba, that nabbed the number one slot, with 90 blockchain patents filed during the first half of the year. IBM, Mastercard, Bank of America, and Bank of China rounded out the top five, and Alibaba's local rivals Tencent made number eight on the list, with 40 patents filed.

    China has cracked down harshly on cryptocurrency trading over the past year, and as we recently reported, even the peer-to-peer Bitcoin trading markets that flourished in the wake of the initial ban seem to be evaporating. But these patents are the latest sign of China's pro-blockchain, anti-crypto stance.

    Source: https://www.longhash.com/news/china-leads-the-way-in-blockchain-patents-report

    submitted by /u/LongHash
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    How to join to 10% investors tight elite which earn money every single year with no risk?

    Posted: 06 Sep 2018 08:58 AM PDT

    I know it's controversial.... but let's talk about facts...

    90% losers vs TOP 10% sad true is: Losers always are fed with the same "news" and they are so naive that their thoughts (predictions) are worth more than others. I know the same what everybody knows but I am smarter…

    Full article here: What 10% TOP investors do different than 90% of losers?

    submitted by /u/marcepolak100
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