Coin Name: Bitcoin (BTC)
Price:6,611.85 Down 67% from it’s all-time high of $19,665.39
Market Cap: $114,457,752,866
Wallet: Ledger Nano S, Trezor, Ledger Blu
Exchange: Coinbase, Binance, Kraken, Bittrex, Genesis, Cryptopia, Shapeshifter
We’re going to assume that we’re not “breaking” this coin to most of our readers. We’ve decided to break our typical format of finding an up and comer and instead revisit Bitcoin, for those of you who subscribe to our newsletters this should come as no surprise and recommend you a 2nd, 3rd, 30th, 300th 3024th look at Bitcoin. Bitcoin is a purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution, it is the first digital coin utilized by the blockchain and it had stood the test of time, repeated doubters, dozens of significant market corrections and an equal amount of unexpected crashes and manages to overcome all of these obstacles with bullish tendencies and more believers and supporters than it had previously. As we come to a close of what will surely be known as “The great Crypto Correction of 2018” Bitcoin has stronger and more powerful friends than ever before. While Hedge Funds that are either primarily based in Cryptocurrency or have added Cryptocurrency as a secondary derivative are now well into the hundreds, positioning institutional investment capital to soon enter have Bitcoin as it’s primary derivative.
The blockchain phenomena have split financial institutions right down the middle, but nevertheless, noteworthy firms, financial institutions and even national governments that are in the process of building or recently finalized a major project based in or utilizing blockchain technology include:
Singapore National Bank
Thailand Stock Exchange
Bloomberg (added on Cryptocurrency news and research teams)
Reuters (added on Cryptocurrency news and research teams)
The Bank of England
CME (Chicago Mercantile Exchange)
Are just to name a few, and the list continues to grow. To give you an idea of the true numbers on the “pro-crypto” side of things Reuters released a report recently stating that 20% of all financial institutions will have adopted cryptocurrency by the year 2019.
With all of these companies positioning into Cryptocurrency, it is important that we remind you that Bitcoin is the ambassador of Cryptocurrency, all companies, and funds entering this space need to start with Bitcoin, you can argue they have the choice between Bitcoin and Ethereum but the majority of major institutions consider Bitcoin the standard. At the moment It is the only digital coin with a tradeable futures contract on the US Commodity Exchanges.
Much of the action that will result from the list above is waiting on the regulatory actions and investigations currently being conducted by the SEC and CFTC the two major United States Regulatory Agencies for both Securities and Commodities which it appears Cryptocurrency falls under both categories. During the due diligence process, the price of Bitcoin has been systematically driven down, making the mass entry into the market all the more monumental. With a Market Cap 1/3 of the all-time high reached in December, this makes the market 3 times easier to move to generate instant profits for investors a factor that is no doubt on the minds of Hedge Fund Managers throughout the US. The time to get into this coin is during the quiet segments we have been experiencing lately, because during the next frenzy is going to lead to lost opportunity, this bullish run that could rival or even surpass 2017 is likely to happen over the next few weeks to as late as beginning of the 4th quarter, it’s hard to say exactly when, but the goal should always be to be in before it.