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Happy Bitcoin-Mitzvah

The tales of fortunes made on Bitcoin are numerous, but every now and then a unique and lovable tale captures the hearts of many – and has them green with envy. Enter Eddy Zillan, who made a fortune investing the money he was gifted for his Bar Mitzvah on various cryptocurrencies. According …

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Deutsche Bank: Bitcoin Crash Among 2018 Financial Worries

The economy globally has continued its strong uptick throughout 2017, partially spurred on by very low interest rates and massive investment into various markets. However, according to Deutsche Bank Chief International Economist Torsten Slok, the major risks for the global economy in 2018 include a crash of Bitcoin. Slok sees huge potential for volatility in the price of the cryptocurrency, as do other economists, and has indicated that the price may even see huge changes before the close of the current year. His main concerns include regulation, transparency, and disclosure, as well as volatility drifting into the overall market. He said: "It's mainly because it (Bitcoin price volatility) is something that I think financial markets so far have been discounting as a small issue," Slok said. "We do worry a bit that it could become more systemic, in particular, if the current trends continue into 2018.” One of many While Bitcoin presents a potential risk for the market going forward, a multitude of other risks may well take down the economy first. Of particular concern are Brexit developments, US inflation rates, North Korea’s nuclear testing plans, and a potential housing bubble in Sweden or Norway. Of course crypto fanatics would argue that Bitcoin actually hedges against all these other market risks, since it represents a non-fiat connected asset that is not prone to inflationary pressures or market fluctuations brought on by national reserve banks. By internal monetary manipulation, centralized entities produce greater risks. For example, Mike Costache, an advisor of Hdac says: “Bitcoin is anti-trust money that is that antidote to [economic crisis]. The US dollar after several rounds of Quantitative Easing (the exact equivalent of a Corporation purchasing its own bonds, which is self-dealing and more or less illegal) is a bubble. This is why I say ‘Bitcoin isn’t the bubble, it’s the pin.’”

The economy globally has continued its strong uptick throughout 2017, partially spurred on by very low interest rates and massive investment into various markets. However, according to Deutsche Bank Chief International Economist Torsten Slok, the major risks for the global economy in 2018 include a crash of Bitcoin. Slok sees huge potential for …

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Looking Heavy? Bitcoin Eyes Correction After New High

After reaching a fresh all-time high yesterday, bitcoin could be losing its upside momentum. The world’s largest cryptocurrency by market value clocked a high of $11,831 at 20:30 UTC Sunday, but closed below the previous record high of $11,377, according to CoinDesk’s Bitcoin Price Index. At press time, BTC was trading …

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