Bitcoin Up 14% And Altcoins Rip Higher

Bitcoin rose 14% on Thursday, rising close to the $8,000 level before returning to the $7,600 level.

The main means point towards the end of the tax season, during which time some cryptographers had to sell their crypto portfolio to pay taxes on capital gains to the IRS, as a possible catalyst and that can be part of it.

There are many reasons why this market will take off again. Let's look at some of the key improvement fundamentals and see why they can take this market to new historical highs this year.

 

1. Bittrex Reopening For New Clients

About four months ago, Bittrex, one of the largest exchanges of altcoins, was so flooded with new customers that it had to close new account records. At one time, it had 500,000 users operating at the same time, which is simply massive.

The company has been busy updating its infrastructure to handle all the demand, and this week, it finally started accepting new customers. 

This is a big business because Bittrex is one of the main access roads to the altcoins market. It lists more than 100 coins, and around $430 million have been commercialized on the platform in the last 24 hours.

There are some other important exchanges that still do not accept new clients. Others, like Coinbase, are frantically climbing their customer support and teams in general.

The encryption industry is expanding massively often with the leading venture capitalists. It takes time to create systems capable of handling tens of millions of users, but it is happening all over the world.

Once all major exchanges are open again to new users, the altcoin market should have an absolute field day.

In addition, both Bittrex and Binance are planning to accept fiduciary money (dollars, euros, etc.) in the near future. This would be huge because the money could go directly into the altcoin market. (Currently, most users buy the bitcoin market first, send it to an altcoin exchange where it can be used to exchange).

2. Lightning Network Is Being Tested

The bitcoin community has been working hard to test its new ray network that could eventually make the cryptocurrency capable of processing thousands of transactions per second. (Currently, it can process around seven per second).

In essence, Lightning allows transactions to be carried out safely from the blockchain and then established again in the block chain. The blockchain is almost always the "bottleneck" in the performance of the transaction because it takes time to update a ledger in thousands of computers and encrypt/decrypt everything.

And Bitcoin is not the only currency that will benefit from Lightning. Ethereum, Litecoin and many others have their own versions of Lightning in the works.

If Lightning and other off-chain solutions work, cryptography could become more practical as a massive-scale digital currency, used for everyday purchases and other businesses. It would no longer be just "digital gold" but also cash.

3. Early Maturation Projects

Crypto is not just about cryptocurrencies like Bitcoin. Decentralized applications that have their own coins or tokens are also increasing.

These projects are new types of disruptive businesses. They are their own banks with their own currencies. The financing mechanism is the initial offer of coins or the private offer of coins/tokens.

They are decentralized (which means that they work in a network of computers around the world) and are very difficult to censor. Most are "open source", which means that they freely share all the code / software and allow the community to contribute.

Steemit is a great example. It is a social network with its own cryptocurrency, STEEM. Users are rewarded for participating and publishing articles.

Steemit is the anti-Facebook. It gives its users an incentive to participate and does not sell their data.The site is growing rapidly and users publish thousands of articles per day.

Another example is CryptoKitties, the popular collectible game that runs as dapp in the Ethereum network.
 
It's early for dapps, but the potential here is tremendous.

4. SEC Goes After Cryptographic Fraud

Centra recently raised $32 million in its ICO. Boxing legend Floyd Mayweather and other celebrities backed the project, but it seems that all was not well behind the scenes.

Last week, the SEC accused Centra's fraud founders. Apparently, Centra made numerous false claims, including an agreement with Visa and MasterCard.

This and other more recent measures against fraud in the cryptographic space are incredibly positive developments. We need the SEC and other regulators to look for bad actors to discourage others from doing the same.

These are just some recent bullish developments in the world of cryptography. There are too many to list here.

If you add the continued deterioration of the legacy financial system, it has some extremely bullish catalysts.

 

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7 Reasons Why Bitcoin Can Be Unstoppable In 2018

A Bitcoin bull run seems almost inevitable after the currency’s value smashed through the 10k barrier earlier this week, breaking out of the sluggish bear run that has occupied the greater part of Q1 2018.

A swift rise of over 9.2% in the last 24 hours has conservative market observers cautiously predicting a short-lived rally based on BTC’s year-to-date performance, but history has taught us that a Bitcoin bull run can be a force of nature.

Bitcoin may be down 39% on its year to date, but appears to be swiftly recovering from a recent downturn that saw prices drop to almost $6,000 at the beginning of the month.

While the cryptocurrency market may be breathing a collective sigh of relief as the value of the dominant crypto begins to ascend into the 10k resistance zone, it’s highly likely that we’re about to see a repeat of Bitcoin’s late November 2017 ascension— but this time, we’re going to the moon.

Bear with us as we break down the seven reasons why Bitcoin’s 10k break is about to spark a strong bull run that will take us all the way to 40k.

1. Psychological Warfare

The $10,000 Bitcoin barrier has long been held as the psychological breaking point of the cryptocurrency.

In a statement made before BTC’s historic price run last year, CryptoCompare CEO Charles Hayter referred to the $10,000 mark as a “seminal moment”.

“$10k represents the closing of the second cycle in Bitcoin which has drawn the interest of institutional investors who have so far been constrained from trading by their remits. This is starting to change as more sophisticated and regulated instruments are made available. This will lead to Bitcoins third cycle.”

The re-crossing of the $10k Rubicon is set to reaffirm the truth lying dormant in the hearts of HODLers around the world— Bitcoin is here to stay.

Casual investors observing the market are now poised to enter the fray in order to capitalize on a “second chance” at the dazzling profits generated during December ‘17, adding momentum to the positive swing.

2. Historical Trends

Bitcoin first broke the $10k ceiling on the 29th of November last year and, after a short 24-hour feeding frenzy that saw prices shaved back down to a little over $9k, soared to $17,000 in a little over one week.

Bitcoin has remained impetuous over the course of its tenure as the reigning king of the crypto market, defying prediction and exploding in breakout runs without warning.

3. Institutional Money Enters the Battle

Bitcoin, and the cryptocurrency market as a whole, is the target of endless speculation.

Bitcoin has now “died” more than 250 times according to the mainstream media but, in reality, the crypto-party has only just started— and the institutional money is about to arrive.

Infamous crypto-skeptic JP Morgan Chase CEO has recently changed his tune on the Bitcoin debate, acknowledging that “The blockchain is real”.

Incumbent financial institutions around the world are now eyeballing blockchain solutions to hedge their bets against the disruptive potential of the market.

Ultimately, interest on an individual level catalyzes interest from the institutional level.

With Bitcoin hedge funds raking in profits and institutional investors such as Goldman Sachs
considering entering the crypto market directly, you can bet that BTC’s return to $10k has institutional money champing at the bit.

4. Lightning Network Implementation

The number one issue plaguing the Bitcoin blockchain at the moment is scalability.

While Bitcoin may be the biggest, baddest token in the crypto playground, it still hasn’t been able to surmount the ever-growing issue presented by increasing transaction numbers.

As it stands, Bitcoin can only process around 7 transactions per second.

Bitcoin’s recent surge in popularity has slowed its network almost to a standstill, with average transaction confirmation times stretching out to several hours and transaction fees reaching almost $40.

The Lightning Network, however, promises to solve the scalability problem.

By creating payment channels between network participants in an organic manner, the Lightning Network overlay promises transaction speeds of millions or even billions of transactions per second.

If the LIghtning Network solution takes hold, then Bitcoin will have a phenomenally fast transaction per second rate that leaves the competition— including Visa and Mastercard— eating dust.

The Lightning Network testnet is already live, and when it hits the Bitcoin Mainnet, it’s highly likely that we’ll see a dramatic explosion in BTC value.

This, on its own, could usher in a Bitcoin bull run – but as part of the perfect storm of opportunity, it could be the strongest reason yet why the cryptocurrency is heading up fast.

5. Regulatory Legitimization

The behavior of regulatory bodies around the world has a profound impact on the price of Bitcoin and the health of the cryptocurrency market as a whole.

In recent history Bitcoin prices have taken a savage beating due to rumors of crypto-bans in countries such as Korea or China.

The regulatory outlook for a Bitcoin bull run in 2018, however, is looking extremely strong.

With Arizona considering allowing residents to pay taxes in Bitcoin and the US House of
Representatives pivoting to a positive, supportive stance toward blockchain technology, it’s clear that Bitcoin and blockchain technology is rapidly approaching widespread legitimacy.

6. Widespread Adoption

A major driver for Bitcoin’s 2018 bear run will be adoption.

Coinbase announced the launch of a new merchant solution that will allow businesses to accept cryptocurrency on the 15th of February, facilitating the use of Bitcoin, Bitcoin Cash, Ethereum, and Litecoin as an everyday payment method:

“Our mission at Coinbase is to create an open financial system, so we’ve designed this solution to serve merchants worldwide.”

The ability to use Bitcoin as an everyday payment method combined with the dramatic increase in transaction efficiency promised by the Lightning Network will create the perfect storm for widespread consumer adoption, turbocharging BTC into its longest bull run yet.

7. Media Madness

It’s no secret that the volatile cryptocurrency market currently lives and dies by the hand of mainstream media news.

With so many news outlets spreading “FUD” or fear, uncertainty, and doubt during the first quarter of 2018, cryptocurrency market values have been on the ropes.

Bitcoin’s strong return to $10k, however, sustained by a rapid rise on the back of investor confidence, will likely swing the mainstream news media back to a tone of positive astonishment and drive more capital back into the Bitcoin market.

It's not far-fetched to think that Bitcoin may go to the Moon. With the early February dip eliminating weak hands from the market and market analysts predicting a $1 trillion market cap by the end of 2018, it’s clear that we’re about to see Bitcoin bounce back— hard.

Bitcoin Crash Timeline

Bitcoin is known for its wild swings. Last week, it dropped under $10,000... a fall of around 50% from its December highs.

It's been recovered somewhat, but that is a serious drop. However, today I'd like to put that in perspective a bit.

In Bitcoin's history... 50% drops are not uncommon.

Crash #1: In 2013, it dropped from $233 to $67 in a single night!

That's a crash of 72% in 24 hours. Of course, by November of that year, it was back up all the way to $1,150. But then it crashed again!

Crash #2: By December 2013, it was down more than 50% again to $500. But it recovered.

Crash #3: The Mt. Gox Bitcoin exchange got hacked... and Bitcoin again dropped 49%.

And in 2017, we've seen two crashes.

Crash #4: After rising to $3,000, Bitcoin dropped back to $1,869, a fall of 36%.

And finally, we saw the next crash...

Crash #5: When China put restrictions on Bitcoin trading, the cryptocurrency dropped 37% from its $5,000 high.

So what's the point in going through all of this?

First of all, Bitcoin trading takes nerves of steel. There are going to be ups and downs. But the second point is that investors who bought on every single one of these crashes have made a ton of money!

These are buying opportunities every time. And the latest crash means that you can buy Bitcoin at half the price that other people paid. You can check out the post what price should we buy Bitcoins to get a general idea.

In conclusion. if you've followed Bitcoin trajectory, you know that Bitcoin and
other cryptocoins have a long way to run.

Bitcoin Over FIAT Currency

Bitcoin represents the economic power that people can reach. Similarly, it symbolizes the union of all societies not to feel excluded by borders and demagogic bureaucracy.

Although it is increasingly criticized by people who support current economic systems whose source is evidently the main origin of acts of corruption worldwide, Bitcoin supporters just grow everyday.
 
One of the reasons why Bitcoin is ranting is because at the beginning it was used for payments for illicit activities. Although this does not mean that cryptocurrencies and blockchain technology is something evil.
 
When VHS was in its infancy, it was used for the adult film industry. Eventually, they realized its functionality and practicality. And it was integrated to all types of films (general, children's, etc.)
 
New technologies are not regularly dangerous. Dangerous can be the purpose people use them for.
 
To expand a bit on the functionality of Bitcoin over FIAT economic systems, in the following video, the expert Andreas Antonopoulos offers us an overview not only about the Bitcoin, but also about the current financial models.

 

5 Ways The Blockchain Will Change Non-Monetary Transactions

Blockchain involves much more than monetary transactions. It is the invisible technology that simplifies how we do things. Below are some ways blockchain will change important aspects of our lives.  

1. Real Estate

Land is one of the biggest sources of wealth in the world. But an estimated $7–$9 trillion worth of land is “locked up” due to poor recordkeeping and archaic land registries.The blockchain will change all that.

Today, buying and selling real estate is a lengthy process. Most people need to hire middlemen such as brokers, inspectors, appraisers, notaries, and so on to get a deal done.

The blockchain will eliminate the need for these intermediaries— and all their paperwork—by assigning each property a digital address.

The address will contain the property’s entire transaction history and update it in real time.

The blockchain will also allow people to create “smart contracts.” Smart contracts are computer protocols that execute and enforce agreements.

Since cryptocurrencies are “programmable money,” they can be added to a smart contract to automatically pay the first month’s rent or fund escrow accounts... reducing costs and saving time.

Cook County (home to Chicago) is already experimenting with the blockchain. The county is working with startup Velox.re to test the blockchain for recording and transferring property titles and tax liens.

2. Healthcare

Healthcare in the U.S. is an estimated $3.5 trillion industry. One challenge the industry faces is finding a way to protect and share private patient information. Last year, health insurer Anthem’s database was hacked. Nearly 80 million people had their personal information stolen. Several blockchain companies are already working on a solution to protect sensitive medical records.

One is MedRec It’s testing a blockchain-based records system. Instead of saving patient information in a centralized database as Anthem did, MedRec gives each individual patient a log of their own medical records.

Patients can then choose to release their information to doctors, insurers, or researchers.

The blockchain will give patients complete control over their medical records—and privacy.

3. Music Recording Industry

Today, the blockchain is starting to disrupt the $15 billion music recording industry. Like other industries, recording artists have to deal with a myriad of intermediaries (like agents and distributors) to get their music to the public.

The internet has made it easier for artists to disseminate their music. But they still lose an estimated 86% of the money their music makes to third parties (And that doesn’t include “pirating” of their songs).

The blockchain will put artists back in control of their music. For instance, U.K. singer-songwriter Imogen Heap has partnered with a company called Ujo.

Ujo created a blockchain-based platform artists can use to be paid directly for access to their content. Last year, Imogen debuted her song “Tiny Human” on Ujo.

Not only can users buy the song. They also can buy the track’s key, tempo, and stems with digital money. Proceeds are then distributed to all involved in making the music, including singers, producers, writers, and engineers.

4. Voting

Anyone following the U.S. election has heard Donald Trump’s concerns over “large-scale” voter fraud. While many have said his concerns are unfounded, it brings back memories of the 2000 election and the “hanging chad.”

The blockchain will make voter fraud virtually impossible. A company called Follow My Vote has created a blockchain technology that allows you to securely and privately vote from your smartphone, tablet, or computer.

It also features state-of-the-art ID verification. Because of its immutability, the blockchain can’t be hacked. So the vote count can’t be tampered with. And it automatically tabulates the vote without any human intervention.

In addition, the new tech allows you to check your vote to make sure it was counted.

5. The Internet of Things (IoT)

Cisco predicts the global IoT market will be over $14 trillion by 2022. That’s a lot of money sloshing around. And another opportunity for blockchain technology.

IBM is at the forefront of IoT and blockchain technology. It’s building a “proof of concept” called Autonomous Decentralized Peer-to-Peer Telemetry (ADEPT).

ADEPT uses Bitcoin’s underlying blockchain design to create a ledger of existence for billions of devices. Each device on the system can autonomously talk to its peers.

IBM is already testing use cases for ADEPT.

It’s partnered with Samsung to make the AW9000 washing machine. Using ADEPT, the Samsung washing machine was able to reorder detergent and service parts, and control how much electricity it used.

We’re in “the Early 1990s Internet” All Over Again. Today, the blockchain is at a similar point to where the internet was in the early 1990s.

Remember, many people didn’t see the significance of the internet at first. But early investors started pouring in, and that was an indication that the technology was about to take off.

We’re seeing a similar pattern with the blockchain.