Bitcoin? Ethereum? Ripple? Three Reasons to Consider Investing in Cryptocurrency

Bitcoin? Ethereum? Ripple?
Three Reasons to Consider Investing in Cryptocurrency

    

Bitcoin is beginning to seem like a viable currency,

especially since reaching the $2,000 mark. Major setbacks, such as the loss of $480 mln due to Mt. Gox’s neglectful management of Bitcoins, have caused the cryptocurrency to plummet in the past. Slowly but surely, the first-ever Blockchain currency has climbed back.

Presently, Bitcoin is performing better than it ever has. Early in 2017, Bitcoin price hit historic highs, surpassing the value of gold. Nearly a decade after Bitcoin’s quiet release, dozens of copycat currencies have arisen. Utilizing Blockchain, a public database or ledger that records transactions involving encrypted keys, developers are vying to improve the original digital currency. A few, namely Ripple and Ethereum, have proved to be exceptional competitors. Indeed, the Ethereum Enterprise Alliance was formed by “Fortune 500 enterprises, startups, academics, and technology vendors” to establish standard practices for the use of the platform/currency hybrid

“at the speed of business.”

You may shy away from joining speculators on the ups and downs of the cryptocurrency markets. However, there are a few strong cases for investment.

Here are three reasons to consider investing in cryptocurrency:

Bitcoin is experiencing massive growth

By far the most popular digital currency is the progenitor of Blockchain technology. Bitcoin owns the lion’s share of the emerging market. Its trading volume is much larger than any other competing currency and its valuation is many times more than the second cryptocurrency of choice, Ethereum. Wider adoption and regular mainstream coverage have elevated Bitcoin from an intriguing security experiment to a possible real-world asset. Additionally, Bitcoin’s exponential growth may portend good things for Blockchain currency in general. After a few major cases of theft for both Bitcoin and Ethereum, trust in the currency seems to be rebounding. Some believe the cryptocurrency is a bubble about to burst, but contentious political and economic conditions could push the price up even further.

Ethereum is gaining traction

Ethereum is the silver to Bitcoin’s gold.

Although it currently sits at under $100 a unit, it’s the most viable alternative to the dominant cryptocurrency. In fact, the competing form of cash was crafted by one of Bitcoin’s co-founders.

Ethereum is both a platform that allows for the creation of decentralized applications and a currency. The currency, Ether, fuels the platform. Its incorporation of smart contracts, which allow for anonymous agreements on the Blockchain, spawned the DAO (decentralized autonomous organization). The currency is more flexible for developers and has attracted major tech players, such as Intel and Microsoft.

It may see friendly regulation

The anonymity and lack of oversight concomitant with decentralized currency create opportunities for abuse. Certain alternative cryptocurrencies (altcoins), ones that enforce private transactions and anonymous transfers, such as Zcash and Monero, have been used extensively by criminal organizations. Although altcoins like Monero have increased in value due to acceptance from darknet users, this illicit usage of cryptocurrency has dealt damage to overall adoption rates.

Thankfully, we may see tighter regulations. Ethereum famously experienced a massive theft of $53 mln in Ether due to an exploit in a smart contract. Theoretically, the Ethereum Blockchain is immutable. The community voted to override this “immutability” in order to return stolen funds. Further, in 2013, a representative for the Bitcoin Foundation told US regulators that they would be open to transparent rulemaking. According to MarketWatch, digital currency advocates are pushing for

more regulation.

With recent interests from Japan and Russia to legitimize Bitcoin, these rules and regulations could help further cryptocurrency as a legitimate finance asset.

Diversify

Blockchain technology has the capability to change everything. The currencies running on the distributed ledger model could revolutionize how we interact with all forms of liquidity. While it is unlikely that fiat currency will be subsumed or overtaken by the digital mint, it’s quite possible that these currencies will see greater integration with our current systems.

At the very least, cryptocurrency is seeing a meteoric rise in the short-term. What the future holds for digital currency is uncertain. Currently, there is a cautious sort of endorsement for Bitcoin and Ethereum. Some speculators are pouring their cash into speedier alternatives, such as Litecoin and Dash. Still, most remain hesitant about moving their assets into an unbacked,

unregulated currency.

Although the Bitcoin ETF was recently shot down by the SEC, there is still plenty of reason to diversify your portfolio with a small investment in decentralized digital currency. As time has worn on, cryptocurrency has steadily risen in price and has experienced wider adoption.

To be sure, there has also been a great deal of volatility concomitant with Bitcoin’s rise. Valuation specialists continue to have trouble pinpointing the exact value of the currency itself and sentiment can vary wildly. Still, market capitalizations continue to grow. If you are able to steel yourself against booms and busts, you may profit from cautious investment. Continue to do your due diligence. If you remain uncertain, consider consulting a financial analyst. Remember to monitor updates, vigilantly investigating changes in sentiment. As always, be prepared to lose any amount you put into a speculative investment. Dedicating yourself to mindful investing will undoubtedly lead to the best result – especially in a market as volatile as the cryptocurrency market.

Chuck Reynolds
Contributor
Please click either Link to Learn more about – Bitcoin.

Alan Zibluk – Markethive Founding Member

This Might Be The Key Reason Behind Bitcoin, Altcoin Price Surge

This Might Be The Key Reason Behind Bitcoin, Altcoin Price Surge

    

The first two-quarters of the year 2017

have seen the crypto industry experience a massive growth in awareness and adoption. From a perspective of economics, the high demand for Blockchain products, whether for preliminary investigations or systematic adoption has automatically generated an influx of capital which consequently reflects the value of the tokens of these Blockchains. The growing Blockchain partnerships offers an explanation for the significant increase in market capitalization of various cryptocurrencies and the consequent surge in Bitcoin price and several top altcoins.

Partnership is key to adoption

One of the major ways being observed for the enhancement and adoption of the Blockchain technology is through partnerships with existing conventional companies. Recently, Ripple experienced a significant surge in value and market capitalization. This is perceived to be as a result of the establishment of a collaborative project amongst banks in the Japanese Consortium for cross-border and domestic payments. Another example of partnerships that have significantly impacted on the market capitalization and overall value of the Blockchain technology is the implementation of a partnership-based strategy by Ethereum with the launch of the Enterprise Ethereum Alliance earlier this year. A partnership which attracts large-scale conglomerates like JPMorgan.

Another emerging collaboration

With several more partnerships expected, PwC Greater China Chairman, Raymund Chao believes that such partnerships are essential for robust execution in the present day business environment.

Chao says:

“Embracing advanced technology for growth becomes the top priority for many business sectors. Innovative applications and solutions could improve the effectiveness of supply chain, brand reputation, and even customer experience.”

Chao’s comment comes in the event of yet another partnership within the Blockchain industry. A partnership that sees business solutions company, PwC make its first Blockchain investment by adopting BitSE’s VeChain, a Blockchain-based anti-counterfeit and supply chain company out of China, with the aim of accelerating Blockchain adoption in Hong Kong and Southeast Asia.

More partnerships to come

The impact of Blockchain adoption through partnerships by conventional entities has become very significant. As the industry grows and tending towards reasonable global adoption, more partnerships are expected. The direct consequence of such development is increased demand for the technology, which directly implies a surge in market capitalization and subsequent rise in the value of associated cryptocurrencies.

Chuck Reynolds
Contributor
Please click either Link to Learn more about – Bitcoin.

Alan Zibluk – Markethive Founding Member

Ethereum Classic Soars Along With ByteCoin, Pulled By Ethereum Price

Ethereum Classic Soars Along With ByteCoin,
Pulled By Ethereum Price

    

Wonders shall never end in Cryptoland!

On Sunday Cointelegraph predicted that it is going to be hot at the top 10 on CoinMarketCap this week. Truly less than 24 hours, on the early mornings on Monday, Ethereum Classic flew so much to make an upward adjustment of 31.46 percent.

ETC conquers Dash

In the process, ETC knocked down Dash to take over as the sixth most valuable cryptocurrency in the world. Nothing surprises anyone anymore in this ecosystem when it comes to the growth of altcoin. Just when everyone thought the battle between Dash and Ethereum Classic is over and that Dash has conquered, the latter has called it a bluff. This brings ETC's market capitalization to almost $900 mln and a market price of $9.72. The gap between it and the pacesetter of decentralized community governance is over $170 mln and even two steps behind.

A couple of weeks ago Cointelegraph spoke to Carlo Vicari of Ethereum Classic about its current impressive growth and he was really optimist of the future. He revealed how the Ethereum Classic community is bulging with newcomers. Looks like ETC is gunning for the top to get off his senior brother, Ethereum out of the way, even though it looks unfeasible at the interim. But then again, altcoin growth is like we are in wonderland.

Ethereum takes back number two

Moreso in a classic move Ethereum has regained the number two position from Ripple deepening the gap between them to more than $3 bln. It was with such great improvement of over 36 percentage point of growth. Its market price is now an admirable $174.81. As Cointelegraph predicted, the battle between the two is not yet over, and this was informed by how the two are all well-patronised utility. Whether Ripple can make another come back to the number two spot is just another interesting trend to be on the look out for in this space.

Bytecoin is biting

Yet still, the most intriguing development is Bytecoin that was firmly rooted on the tenth rank rising all of a sudden to the seventh position overnight. It made a casualty of Dash and Stellar Lumens and is now behind Ethereum Classic. On Sunday Cointelegraph asked whether Bytecoin has come to the elite echelons to stay or just one of those flash in a pan you see with altcoin. It appears they are proving it is not a fluke at all. The adjustment is unbelievably impressive! A 61.76 percent gain to knock out two strong cryptos tells you they mean business. Anyway, it doesn't look well for Monero at this stage. It's now sitting at number 10 with Dogecoin barking to push it away. For a few months now Cointelegraph has been referring to it as ‘gradually declining' Monero.

Chuck Reynolds
Contributor
Please click either Link to Learn more about – Bitcoin.

Alan Zibluk – Markethive Founding Member

Bitcoin Price Flips Downward After Almost Reaching $3,000

The price of bitcoin has been surging over the weekend almost touching $3000 per BTC on Sunday, June 11 across most global exchanges. The following day roughly around 6:30 am bitcoin’s price took a steep decline dropping to a low of $2700 but has since bounced back a touch after the dip.

Also Read: Russian Government To Introduce KYC Guidelines For Cryptocurrency Purchases

Bitcoin Comes Close to $3K, but Highs Were Followed by a Steep Correction

During the weekend throughout June 10-11 bitcoin’s price seemed to be forming a strong consolidation in the $2970-2980 range. It tried to cross the $3000 mark multiple times (it did on a couple of exchanges) with little success as the price per BTC topped a high of $2980 on the trading platform Bitstamp. After that, the June 12th morning dip seemed rather unexpected and looked to be merely some profit-taking for the time being. At press time the price has rebounded and is sitting roughly around the $2775 mark.

‘The Flippening’

Bitcoin's Price Flips Downward After Almost Reaching $3,000 One of the most topical discussions at the moment is the market capitalization of Ethereum (ETH) and the possibility of it surpassing bitcoin’s market cap. Ethereum had a pretty good weekend jumping from $300 to $420 across most exchanges. This has led to the ethereum market capturing roughly 78 percent of bitcoin’s valuation in what a lot of people are referring to as the ‘flippening.’ Currently as far as a flippening is concerned ethereum has already surpassed bitcoin trade volumes, mining reward and even 24-hour transaction volume. As of right now, ETH market dominance is 32 percent, and BTC is 40 percent among the 870 cryptocurrencies in existence.

24-Hour Price Analysis

Looking at the charts on Bitstamp bitcoin’s price is trying to regain ground at the moment. Technical indicators are showing the 100 Simple Moving Average (SMA) is still above the 200 SMA — which is a good sign showing the gap may indicate more bullish trends in the future. Right now order books on Bitstamp are moving faster than the eye can catch but there are big sell walls in the 2850 range and there are even larger walls above this mark. Both the Stochastic and Relative Strength Index (RSI) levels show a healthy correction was due and bulls will remain on the sidelines for better entry points. It’s safe to assume Bitcoin trading markets will be quite volatile over the next 24-hours and day traders, and intra-range players should have a field day scalping profits.

Just an Average Day in the Land of Cryptocurrency

Overall things have been quite positive within the cryptocurrency space, and the correction has taken place across most crypto-markets after a few digital assets touched all-time highs. Mainstream media is reporting about bitcoin’s rising price but are also speculating on the performance of ethereum markets. The likelihood of bitcoin breaking the $3000 range and finding new highs is not out of the question, as we’ve seen corrections like this on multiple times over the past two months. Alongside this, at the token’s current rate of growth, the possibility of Ethereum experiencing a larger market capitalization than bitcoin is also a possibility.

Bear Scenario: The price of bitcoin has dipped quite a bit since the June 11 high to a low of $2700. At the moment bears seem like they are having a hard time pulling down the price further but it’s possible they could bring BTC down to the $2600 range. At the moment there is a strong foundation between $2600-2700, but the price could go lower if psychological patterns cause panic.

Bull Scenario: Bitcoin’s price looks as though it just received a healthy correction and bulls have possibly pulled the elastic back once again to set up for the next spring upwards. The price per BTC could easily break the $3000 mark, as we’ve seen after every correction there have been higher follow-ups in price. Trade volume is healthy with over $2 billion worth of BTC traded daily, and higher price points are achievable even in the short term.

What do you think about the price coming close to $3000 then toppling back down into the $2700 range? Also, do you think Ethereum’s market value will surpass bitcoin? Let us know what you think in the comments below.  

Disclaimer: Bitcoin price articles and markets updates are intended for informational purposes only and should not to be considered as trading advice. Neither Bitcoin.com nor the author is responsible for any losses or gains, as the ultimate decision to conduct a trade is made by the reader. Always remember that only those in possession of the private keys are in control of the “money.”

Chris Corey

CMO Markethive Inc

By Jamie Redman – June 12, 2017

Alan Zibluk – Markethive Founding Member

Japan’s Largest Online Travel Agent Bringing Bitcoin to 1400+ Hotels This Summer

The bitcoin exchange Bitpoint has partnered with Japan’s largest online travel agent Evolable Asia to bring bitcoin payments and exchange services to over 1,400 hotels and inns across Japan this summer.

Also read: Japan’s Bitpoint to Add Bitcoin Payments to 100,000+ Stores

Bitcoin Coming to 1400+ Accommodation Facilities

 

 

https://www.ivocalize.net/#room/TheHive

Bitpoint, a subsidiary of the publicly traded conglomerate Remixpoint, last month partnered with Peach Aviation and announced that it was bringing bitcoin payments to over 100,000 stores in Japan. Last week, it has fulfilled some of its promises and confirmed that over 1,400 accommodation facilities across Japan will soon start accepting bitcoin. This is made possible through a partnership with Japan’s leading online travel agent Evolable Asia.

According to Bitpoint:

The aim is to enable customers to exchange bitcoin to Japanese yen at hotels and inns across Japan, including at Airtrip Exchange stores and 1400 contract facilities in the Evolable Asia Group. This service will begin this summer.

Bitcoin can both be exchanged for yen and be used to pay for lodging by customers in each participating accommodation facility, according to the company.

Japan's Largest Online Travel Agent Bringing Bitcoin to 1400+ Hotels This Summer

Japan’s Largest Online Travel Agent

Japan's Largest Online Travel Agent Bringing Bitcoin to 1400+ Hotels This Summer

Evolable Asia handles online ticket sales for many websites. “If you’ve ever booked a flight or vacation package in Japan, there’s a good chance you did it through Evolable Asia – though you may not know it,” wrote Tech in Asia. In addition to its own online travel portals, more than 600 domestic travel sites use its in-house technology to power their own flight, hotel, and tour package searches, the publication detailed.

Japan’s leading independent investor relations support service company, Investment Bridge Co. Ltd, provides analysis of publicly traded Japanese companies. In March, the company published a report on Evolable Asia, stating that:

Evolable Asia Corp. is Japan’s largest Online Travel Agent (OTA) in terms of its number of domestic airline tickets handled. It is the only OTA that has signed agreements with all of the domestic airline groups.

Headquartered in Tokyo and Ho Chi Minh City with four offshore offices spread around Vietnam, Evolable Asia became a publicly traded company on the Tokyo Stock Exchange on March 31, 2016. It also opened headquarters in Silicon Valley early last year.

Evolable Asia has partnered with airlines, railway companies, and accommodation facilities to provide various tourism services. Among its partners are Japan’s largest airline All Nippon Airways (ANA), Peach Aviation, Japan Airline (JAL) and East Japan Railway Company.

The company offers an integrated mobile travel service platform called Airtrip, available for iOS and Android. In February, it also entered into the currency exchange business and launched a subsidiary called Airtrip Exchange.

The aim of the exchange service is to meet the needs of foreign travelers, especially during times which banks are not open. Subsequently, through a partnership with leading Japanese telecommunication service company Vision Inc., Airtrip Exchange opened two booths in April and the third one on June 1. The exchanges currently handle 12 major currencies, but will soon add bitcoin exchange as well, Evolable Asia announced.

What do you think about Evolable Asia bringing bitcoin payments and exchange services to 1400+ accommodation facilities across Japan? Let us know in the comments section below.


Chris Corey 

CMO Markethive Inc

Images courtesy of Shutterstock, Evolable Asia, and Bitpoint

By Kevin Helms 

 

Alan Zibluk – Markethive Founding Member

Hedge Funds Are Quietly Investing in Bitcoin

Hedge Funds Are Quietly Investing in Bitcoin

Hedge Funds Are Quietly Investing in Bitcoin

Bitcoin’s price has gained over 180 percent this year, while hedge funds have only returned 3.5 percent on average. Most hedge fund managers have stayed away from bitcoin. However, the few that have included it are significantly outperforming their peers.

Average Hedge Funds Return 3.5% This Year

Hedge fundsHedge Funds Are Quietly Investing in Bitcoin are investment funds whose clients are accredited or institutional investors. They are less regulated than mutual funds since they are not subject to strict rules designed to protect investors. Some of them are not even required to register or file public reports with financial regulators.

Investments in hedge funds are only restricted by each fund’s mandate. They can effectively be anything including land, real estate and currencies, as long as they seek to maximize investors’ returns while reducing risks.

The comprehensive overall returns of hedge funds are measured by the hedge fund absolute return index (HFRX), which is representative of all hedge fund strategies. Hedge Fund Research (HFR), which provides data on more than 150 hedge fund indices, is the industry’s leading provider of hedge fund index data. According to HFR, the HFRI Weighted Composite Index only returned 0.46% in May and 3.5% year-to-date. In comparison, the S&P500 total return was 1.16% in May and 9.61% year-to-date.

Bitcoin Helps Hedge Funds’ Bottom Line

HFR’s data reveals that most hedge fund strategies underperformed the market both in May and year-to-date, CNBC reported. The index provider noted that technology and currencies were the only two strategies that performed well in both time periods, adding that:

The FX funds did well because of exposure to digital currencies like bitcoin.

The hedge funds that do invest in bitcoin currently do not have large positions. The best performing hedge fund index in May was the HFRI Macro Currency Index which gained 3.49% in the month and 8.22% year-to-date.

“In addition to contributions from Euro, Swiss Franc, New Zealand Dollar and Korean Won, the Currency Index also had strong contributions from exposure to digital currencies,” according to the HFR report.

Why Don’t More Hedge Funds Invest in Bitcoin?

“Many hedge funds are still very reluctant to dip a toe into the asset class,” CNBC recently reported. One hedge fund veteran, with 16 years of experience, told the news outlet:

To be honest, I just don’t know enough about it.

The reasons hedge funds are reluctant to invest in bitcoin “really boils down to concerns over volatility, security and perception,” Louis Gargour, the founder of asset manager LNG Capital, told the publication.

He listed three concerns. Firstly, “bitcoin’s extreme volatility doesn’t sit well with managers working on a risk-adjusted return basis.” Secondly, fund managers are concerned with the digital currency being hacked or stolen. Lastly, “there’s a perception that bitcoin remains a niche, retail investment that does not yet demonstrate sufficient quality to be seriously considered for many reputable institutions,” he explained.

However, as bitcoin continues to outperform other asset classes, more hedge fund managers may start following their peers and invest in the digital currency. At press time, Bitstamp shows that bitcoin has gained over 180% so far this year and over 70% in May.

By Kevin Helms

 

David Ogden
Entrepreneur

Alan Zibluk – Markethive Founding Member