Dear Tom Lee, Your Consensus Rally Prediction has Not Failed Yet
For some reason the media narrative is that the post-Consensus crypto rally did not occur, Tom Lee even agreed. I disagree that we can make that claim yet.
Bitcoin (BTC)
Bitcoin is the most commonly known cryptocurrency. It’s a decentralized digital currency that is secure and private and can be used in transactions worldwide. It carries with it a number of pros and cons and is currently rather volatile.
In this section we discuss everything Bitcoin including how it works, what it’s worth, how you can “mine Bitcoin”, and more.
Market Cycles in Cryptocurrency
Market cycles are a natural advent in any market. However, because the cryptocurrency market moves so quickly, market cycles are especially important to understand in cryptocurrency specifically.
The San Fran Fed Blames Crypto Crash on Bitcoin Futures
Federal Reserve Bank of San Francisco published an analysis of Bitcoin prices and the crash of 2017 – 2018, pointing to Bitcoin futures as the main catalyst for the crash.
A Few Bits of Bad News Help Turn the Crypto Bull Run into a Bear
A few bits of bad news helped spur on a crypto correction that started when Bitcoin failed to break $10k. This included a rumor that the MtGox trustee had moved a 8,000 or so Bitcoin onto the exchanges, news of a raid on the popular South Korean exchange Upbit, and to a lesser extent the potential of regulation of ICOs in the US.
Bill Gates Vs. Tommy Lee
Bill Gates said he would short Bitcoin if he could (he can) and Tommy Lee of Fundstrat thinks Bitcoin will go to $25k. Time will tell who is right.
NYSE Parent Company Working on Bitcoin Trading and Custody Service
According to the New York Times, the parent company of the New York Stock Exchange (NYSE) has been working on an online trading platform that would allow large investors to buy and hold Bitcoin.
The 12 and 26 Day Bitcoin EMAs Are a Good Gauge of Crypto Trends
One of the simplest ways to gauge the medium term price trends of the crypto market are the 12 and 26 EMAs on Bitcoin on daily candles (the only indicators on GDAX).
Over 17 Million Bitcoins Mined, Only 4 Million More to Go
Over 17 million Bitcoins have now been mined. That means there are only 4 million more that will ever be mined.
The Kimchi and GBTC Premiums are Good Indicators of Crypto Sentiment
In some markets, people will pay a premium for Bitcoin products when crypto is doing well. Specifically, this can be seen in South Korean markets and in GBTC.
Thomas Lee’s Tax Season Bitcoin Prediction was Spot on
Thomas Lee of Fundstrat had a spot on prediction about Bitcoin, predicting it would go up as tax season ended (it did). His other predictions include $25k Bitcoin in 2018 and $91k by 2020.