Ouch!, just saw the story and decided to share it here for discussion, Never knew it was an offence, thanks for letting me know,

When the IMF (International Monetary Fund) revised its policy on economic growth, risk-off trading circles across the world got quite a boost. The crypto world felt the effects, with Bitcoin surging up to hit the $6,656 mark.

However, this positive effect didn’t last long as it wasn’t supported by a matching trading volume. In essence, a market price increase or decrease needs to be supported by a corresponding trading volume for the effect to hold. If the volume isn’t enough, the breakout can’t last.

While the IMF’s move was a great step in the positive direction, most people missed the point where the international body expressed its reservations about the crypto world as a whole.

In its view, the IMF had issues with the rapid propagation of cryptocurrencies, mainly because of the risks faced in terms of digital security. The IMF’s World Outlook Report mentions cyber security issues as one of the most prevalent problems currently faced in the industry.

The report goes on to opine that these vulnerabilities could seriously impede secure cross-border trade and affect the flow of goods and services in the international market. As such, rapid growth of digital currencies gives rise to new vulnerabilities that further present more hurdles to be dealt with in the international financial system.

A look at the recent market environment suggests that the Bitcoin market, in particular, hasn’t had enough participation from the larger community, and that means that exchanges aren’t handling enough of Bitcoin’s trading volume to warrant a serious breakout.

Read More: https://zycrypto.com/despite-recent-decline-october-could-still-be-the-month-for-a-major-bitcoin-bull-run/

How much are you paying for Rep 59 ?

An increasing amount of bitcoin is being held by active individual users, rather than companies and long-term investors, according to new data from Chainalysis.

Announced Monday, the analytics firm found 4.8 million bitcoin, or roughly 32 percent of the protocol's cryptocurrency supply (minus lost coins), was held in personal wallets with some level of transactional activity as of August 31. That's up substantially from the end of 2017 – around the time the market peaked – when just 3.8 million bitcoin, or 26 percent, was in the hands of individuals.

The August numbers were the second-highest for individual accounts on record, and off only slightly from July's high of 4.95 million bitcoin, or 33 percent of all coins in circulation.

"There are more people who are holding crypto personally," Chainalysis economist Philip Gradwell told CoinDesk.

As a result, Gradwell said, "there's a much larger supply that's liquid. A lot of the people who bought [this year] are buying smaller amounts," adding:

Speaking to that potential, Gradwell said technical solutions aimed at improving bitcoin – like the much-lauded Lightning Network, which could enable faster payment processing options for merchants and service providers – could tip the scales for users deciding whether to transact with bitcoin or cash out during the next bull market.

To be sure, bitcoin is still predominantly held as an inactive investment, whether custodied by an institution or individual, with 6.3 billion held in accounts that had no activity in over a year, according to Chainalysis data.


Read More: https://www.coindesk.com/hodl-no-more-the-amount-of-bitcoin-in-active-wallets-is-near-to-a-record-high/

The Bitcoin market, and the cryptocurrency world in general, may have experienced a significant influx of users as a result of serious targeted campaigns conducted by market players. In fact, the market has seen some very unusual players enter the market of late. One of such is the introduction of institutional trading of cryptocurrencies.

However, as much as these developments have led to many new people getting some clues about cryptocurrencies, especially Bitcoin, and even entering the market to acquire some, significant Bitcoin adoption in relation to the total financial market size is still comparably small, with only a handful of people owning the coins as compared to the huge market population.

At the moment, only about 3 million people are actually active Bitcoin users, and that definitely doesn?t look good to anyone looking forward to the future of Bitcoin as a market dominant and possibly a widely used means of payment.

Indeed, Bitcoin has seen a few market upsets since its debut into the financial market back in 2009. Since then, the pioneer blockchain network has undergone some serious improvements. The Lightning Network is one of such very notable improvements that have greatly improved the network?s efficiency and reliability as a payment system.

Source: https://zycrypto.com/massive-bitcoin-adoption-could-be-the-gateway-to-another-market-boom/

This is Normal Attitude of the Market, there is Always ups and downs, we just have to take it that way and hopefully the market will bounce back before the end of the year, Bitcoin has experienced much more lows in 2014 before but still bounced back hard to  $20k , so i'm very sure that the Bitcoin market will definitely still have another All time high.

One of the cryptocurrency creators that had an early foresight on what cryptocurrencies will be to the world in the nearer future is Charlie lee, the former Google engineer who also worked with Coinbase, before leaving the later to focus on his created crypto litecoin, that could be mined.

In recent times, he said that everyone should try and own at least one bitcoin and in another commented that was widely published online, he said that bitcoin is the gold of cryptocurrency which could suggest that he is a bitcoin fan.

In a chat he had with CNBC which has a good inclination concerning crypto coverage, he was asked some question about plans to buy back litecoin which he sold out late last year and early this year, due to criticism, bitcoin crash and his prediction when when to expect a bitcon rise.

Commenting on what the value of bitcoin is presently and when he feels it could rise past the highest price of $20089 which it reached in Dec 2017, he said,


In answering question on what the present prices of different cryptocurrencies says about their future and usage, Charlie Lee said,


Source: https://zycrypto.com/it-could-take-6-24-months-for-bitcoin-to-return-to-its-level-litecoin-creator-charlie-lee/

Bitcoin Bull Run of Over 500% Might Occur if Bitcoin ETF Gets Approved, According To Research


The recent surge in price of Bitcoin that saw it reached a two month high has been attributed to the fact that many institutional investors believe that Bitcoin ETF could be approved before the end of this year and especially by next month.

An independent research,carried out by a Bitcoin enthusiast , Tom Alford who is an independent cryptocurrency trader and investor had shown that Bitcoin ETF has unique similarities to gold ETF. Since, Charlie Lee, the founder of Litecoin had likened Bitcoin to gold recently, his findings could be true.

Tom Alford said that after gold ETF came into existence in 2003, that by 2011 which is an 8 years gap, its price had increased to about 500% yearly after it was traded previously for 30 years.

Just this week, the Winklevoss twins application for Bitcoin ETF was rejected by SEC, in a vote of 3:1, citing reasons of protecting investors, manipulation and fraud for factors behind the unsuccessful application.

However, many believe that the proposal sent in to SEC by CBOE Global Market that will be decided by August 16, 2018 will be successful.

Read More: https://zycrypto.com/bitcoin-bull-run-of-over-500-might-occur-if-bitcoin-etf-gets-approved-according-to-research/