The current bitcoin transaction issues is the only thing that might stop bitcoin from reaching to every level where people are predicting over time. I'm still thinking there is a probability for bitcoin price reaching $50,000 around the end of this year 2018.

Yes, there is a chance for bitcoin price to climb to $20,000 in the next 2-3 months. Some people are just Fascinated about bitcoin and new comers would also invest in bitcoin regardless of the bitcoin situation. Due to such factors bitcoin price will easily recover in 2-3 months period.  

Ethereum can't make it because it's still suffering from Cryptokitties issues, ethereum network is still slow. Ripple has a better chance of maintaining the No. 2 position on the cryptocurrency market because it is very cheap, fast, and more investing are putting their money into XRP everyday.    

No. It is never too late to invest in bitcoin because most people that makes a lot of money from bitcoin invested year ago or more. So, if you want to make money from bitcoin then you should invest now and plan for a year and expect your returns the next year.

The market correction for bitcoin and altcoins is mandatory the only problem is no one knows exactly when the correction is coming. People may just woke up in the morning and realize they are experiencing a correction in the market. Correction normally happen in every 3-4 months period (but that's unofficial).  

Bitcoin was at 66% market domination in Mid-December 2017. This basically shows that people are moving to other altcoins with more speed, and less transaction fee, such as Ripple, Bitcoin Cash, or Dash.

Well, it appears bitcoin reached an unimaginary level in January 1st, 2018. Bitcoin selling at $13,000 this time, very few people thought it was possible back in January 2017.

No. The bitcoin price used to fluctuate. The bitcoin price is not always stable, some time the price went up and some time it went down. But there is no way bitcoin price will be going down straight without getting back up even ones.

Well, my prediction will be somewhere around $18,000 even though it is too early to predict the bitcoin price by the end of January. We shall see who is right, then.

Without the bitcoin current transaction issues, bitcoin can reached $40,000 or even higher as it has so many potentials and everybody loves bitcoins. The demand of bitcoin was unbelievable in 2017 but due to the high transaction fee and slow transaction speed, people started losing interest in bitcoin and start looking for another solution.

I don't think Mr. Novogratz is always right about the bitcoin price prediction. Yeah, he might predict so many things about bitcoin in the past that turned out to be wright, but nobody is perfect that is why i'm not agreeing with his statement this time. Don't see bitcoin going back to even $10,000 talk-less of $8,000 - I don't buy that line. Mr. Novogratz might be spreading FUD to make people sell their bitcoin so he can buy more bitcoins in a cheaper price. 

Yes, that is a huge prediction for bitcoin right now because bitcoin is currently selling at $13,500. Perhaps, it may reach there by the end of the year 2018. 

Bitcoin ‘Adds 0.3%’ To Japan’s GDP, Claim Nomura Analysts



Analysts from Japanese finance giant Nomura have found Bitcoin could be contributing as much as 0.3% extra GDP to Japan.

In a client note translated by Business Insider, Yoshiyuki Suimon and Kazuki Miyamoto praised the positive effects on consumer spending resulting from large numbers of Japanese holding Bitcoin.

The optimism capitalizes on Japan’s Bitcoin breakout this year, which saw the country take pole position in Bitcoin-to-fiat trading, as well as adopt nurturing regulatory frameworks to further Bitcoin’s implementation into its economy.

Following the firming up of its legal stance, Bitcoin accelerated in price to such an extent that Nomura suggests holdings could have a “measurable effect” on Japan’s GDP.

“The scale of this increase in assets can hardly be ignored,” the commented on Bitcoin’s growth.

The sentiment contrasts sharply with the new round of doom-mongering which surfaced in mainstream media in the US this week. Dennis Gartman and gold mining CEO Sean Boyd both told CNBC in the past week that investors will seek out a return to gold once Bitcoin’s characteristic volatility proves too much for them.

In addition, Gartman forecast a crash to below $5000 for BTC, but could not specify when this was likely to occur.

Separately this month, central banks in Poland and Denmark both produced strong warnings to consumers not to invest in cryptocurrency.


Source: https://cointelegraph.com/news/bitcoin-adds-03-to-japans-gdp-claim-nomura-analysts

India Falsely Condemns Bitcoin as Ponzi Scheme, Flawed Logic



Recently the Indian finance ministry criticized Bitcoin and the rest of the digital currencies in the market for their lack of intrinsic value.

The Indian finance ministry stated:

    "There is a real and heightened risk of investment bubble of the type seen in Ponzi schemes which can result in sudden and prolonged crash exposing investors, especially retail consumers losing their hard-earned money. Consumers need to be alert and extremely cautious as to avoid getting trapped in such Ponzi schemes.”

Flawed logic

Billionaire investor Mark Cuban, a former Bitcoin critic turned holder, previously emphasized that the concept of intrinsic value simply does not exist. Even fiat currencies such as the US dollar and Indian rupee do not have intrinsic value, given that their valuations are decided by two major factors: the market’s demand and the manipulation of supply by central authorities. Cuban said:

    “It is interesting because there are a lot of assets which their value is just based on supply and demand. Most stocks, there is no intrinsic value because you have no true ownership rights and no voting rights. You just have the ability to buy and sell those stocks. Bitcoin is the same thing. Its value is based on supply demand. I have bought some through an ETN based on a Swedish exchange.”

Hence, the Indian finance ministry’s argument in that Bitcoin and other cryptocurrencies are Ponzi scheme-like because they do not have assets backing their value is flawed, as the same argument can be applied to fiat currencies.

More importantly, analysts have questioned such irrational statement from the Indian finance ministry considering that the country has just recovered from a disastrous financial turmoil triggered by the country’s Prime Minister Narendra Modi controversial decision to crackdown on criminals by eliminating 500 and 1,000 banknotes.

Sunny Ray, the co-founder and president of Unocoin, India’s second largest Bitcoin exchange, wrote:

    Is bitcoin a pyramid or ponzi scheme? Short answer: no. Long answer: see below. #IndiaBitcoin pic.twitter.com/58eQa2lI1f
    — Sunny Ray (@SunnyStartups) December 29, 2017

A sudden and unforeseen crackdown on the national currency led to months-long confusion and financial instability, leading to a period in which fatalities were recorded as people died out of exhaustion waiting in lines to withdraw cash. Because the supply of banknotes was cut so significantly in a short period of time, at one point, more than 90 percent of the country’s ATMs did not have any cash to dispense.

In November 2016, LA Times reported that the unprecedented ban on large bills and banknote denominations backfired on the poor, and the vast majority of the population struggled to obtain enough cash to finance day-to-day operations. Ramesh Sisodia, a local merchant, told LA Times:

    "People don't have money to buy bread — why would they stroll out for a coffee? Those who can afford it would prefer to pay 10 times more for a coffee at Barista — a Starbucks-like chain — because they can pay by card.”

Highly regarded Indian Entrepreneur Gaurav Munjal also revealed that a large portion of the population had relied on the barter system to exchange goods because cash was no longer available for the poor and middle class.

    Day 2 in Bombay with no cash - no ATMs working. Paid the autowalla 5kgs of rice from a store. Long live barter system. pic.twitter.com/uWtejp60AM
    — Gaurav Munjal (@gauravmunjal) November 13, 2016

The Indian government was condemned for its statement on Bitcoin and the cryptocurrency market because it has irrationally attacked a decentralized currency system and stores of value that are providing financial stability and independence to their users, unlike the government-owned and issued fiat money.

It also falsely claimed that the price of Bitcoin and other cryptocurrencies are based on pure speculation, failing to acknowledge the fact that crypto assets of the Bitcoin network, Ripple, Ethereum, and others are being used to send and receive transactions, store wealth, process large payments, run decentralized applications and settle private transactions.

"The price of Bitcoin and other virtual currencies, therefore, is entirely a matter of mere speculation resulting in spurt and volatility in their prices,” the finance ministry added.
Why is Indian government harsh on Bitcoin?

As a decentralized and distributed currency system which exists on a peer-to-peer protocol, Bitcoin eliminates the necessity of intermediaries and third-party service providers like the Indian central bank. It could render the existence of central authorities and their control over the country’s monetary system useless.

But, over the upcoming years, it would become more difficult for certain governments to remain indifferent or negative toward the cryptocurrency market because major markets like the US, Japan, and South Korea have already embraced Bitcoin as a legitimate currency and asset class.


Source: https://cointelegraph.com/news/india-falsely-condemns-bitcoin-as-ponzi-scheme-flawed-logic

2017 Market Performance: Crypto vs. Stocks



When looking across the globe, there were plenty of strong performing equity markets in 2017. Nevertheless, none compare to the massive appreciation seen within the cryptocurrency sector.

Warning: If you are primarily an equity investor, you may soon be compelled to enter the world of cryptocurrencies as the relative outperformance of the top cryptocurrencies in 2017, when compared to equity markets, was astronomical.

The top-performing stock market last year (excluding Venezuela with a 3,884 percent gain due to rampant inflation) was Zimbabwe with a 117.7 percent advance, while the top cryptocurrency Ripple, left Zimbabwe in the dust with an eye-popping 28,963 percent return. Ripple ended 2016 at $0.0065 and by Dec. 31, 2017 had risen to $2.25.

By the end of 2017 Ripple has overtaken Ethereum as the second largest cryptocurrency by market capitalization, at $77.1 bln and $72.9 bln, respectively. Although still far behind Bitcoin’s approximately $248.3 bln market capitalization, they are rising fast. The market capitalization of Ripple is up approximately 31,637 percent from a year ago and Ethereum has increased around 1,300 percent. A distant third is Bitcoin, up 447 percent over the past 12 months.


Top stock market performance 2017

As you can see in the following table, Top Stock Market Performance 2017, relatively high returns came from less developed and emerging stock markets such as Argentina with a 77.7 percent return, Mongolia which rose by 68.9 percent, and Kazakhstan, climbing by 59.3 percent. Of course, for most investors, there are barriers to accessing these stock markets. That may be one of the reason’s global investors have taken a liking to cryptocurrencies as they are global, can be accessed and traded 24 hours a day, seven days a week.

Top Stock Market Perfomance 2017




Major developed equity markets

In major developed stock markets, Hong Kong’s Hang Seng Index led the way with a 36 percent return, followed by India’s BSE Sensex 30, up 27.9 percent. The Hang Seng ended December at 29,919.15, close to the high for the year, and the second highest monthly closing price ever, second only to the record high peak from November 2007 of 31,958.41.

Since 2009 low the Hang Seng has been progressing higher in an ascending parallel trend channel. The index is now heading towards the top channel line, which will put it in the area to test resistance around the 2007 highs. That’s only 6 percent or so higher. It’s interesting to note that the Hang Seng has only had one down month during 2017, a testament to its strength.


Stock Market Perfomance 2017 (Major Markets)


India’s BSE Sensex 30 Index ended the year almost 10 percentage points lower than the Hang Seng, but a strong finish nonetheless. The Sensex had a solid close at a record high of 34,057, very close to the year’s high of 34,127.22. December triggered a monthly bullish trend continuation signal and follows a breakout of a two-year base in May. This is very healthy price behavior and supportive of a continuation of the bullish trend. As long as the Sensex continues to progress with a series of high monthly highs and higher monthly lows, further upside is likely.



The third best performing major stock market index last year was the S&P 500 (SPX), up 19.4 percent to end at 2,674. For the past 13 months the SPX has advanced as much as 29.3 percent, as of the year’s 2,694.97 high, in a sequential series of higher monthly highs and higher monthly lows, all in the face of growing choir of bears, waiting and ready to bounce. This monthly pattern continues to define a strong uptrend.

In addition to ending the year technically strong, in the upper third of December’s high-to-low price range, the close was at a new monthly closing high. When measuring the current advance from the February 2016 swing low, the SPX was up as much as 48 percent as of the recent high.

Can it keep going? Well, the prior rally (swing low to swing high) on a monthly basis, starting from October 2011, saw the SPX increase as much as 99 percent before moving into a prolonged consolidation base period. So far the advance is approximately half of that. By itself, this would indicate more upside potential.


Bottom stock market performance

Of course, not all stock markets were bullish last year, but the worst performers were relatively smaller exchanges. The bottom performing market for 2017 was the Sarajevo Stock Exchange. It ended the year down 18.5 percent to close at 562. Coming in second was the Qatar Exchange Index, with a loss of 18.3 percent, followed by the Karachi Stock Exchange Index, which dropped by 15.3 percent. Qatar, of course, has been negatively impacted by an economic blockade since June spearheaded by Saudi Arabia with support from other Arabian Gulf countries.


Bottom Stock Market Perfomance 2017


Cryptocurrencies: 2017 performance
This next chart shows the performance of the five of the larger cryptocurrencies including Bitcoin (BTC/USD). The cryptocurrencies shown in this chart and the accompanying table further down, is not comprehensive and is chosen as a sample of the more popular and widely traded cryptocurrencies.

It is interesting to see that the cryptocurrencies shown all started to accelerate higher around early-November, except for Ripple (XRP/USD). Ripple was late to the party but doesn’t seem to be losing any time making up for the slow start. You can see how it has been rising rapidly recently while the other major cryptos start to pullback. For the month of December Ripple has advanced more than 700 percent. The Ripple token is used to facilitate global payments by banks and other financial institutions.


Chart BTC/USD

Following the strong performance of Ripple is Dash (DASH/USD). Dash was up at least 9,400 percent for 2017 through Dec. 31. Dash broke out of a 32-month base into new high territory in February and has barely looked back. Over the past 10 months, since the breakout, Dash as advanced as much as 10,584 percent, as of its recent high of $1,595.76 reached in December. So far, since reaching that high, Dash has moved into a pullback, falling as much as 51 percent before bouncing.


Cryptocurrencies - Perfomance 2017

Ethereum (ETH/USD) was the third-best performer for the year, up at about 9,000 percent to $757 at Dec 31. It started 2017 very strong, rising over 5,000 percent in the first five months before moving into a four-month or so consolidation phase. A classic symmetrical triangle consolidation pattern formed subsequent to the top. Ethereum broke out of that pattern with conviction in November, rising a little over 100 percent before confronting resistance at $863.0 last decade of December and sliding into a retracement. To date, the retracement has seen as much as a 40 percent loss in value from the high.


Chart ETH/USD

In fourth place comes Litecoin (LTC/USD), with a 5,582 percent advance of the year so far. Litecoin has been pulling back over the past couple of weeks, since hitting resistance at a record high of $420.0. That high completed a 735.8 percent increase in only six weeks, starting at the low of a three-week pullback at the beginning of November. The move was accompanied by increasing volume until the top, which is where weekly volume reached a record high.


Chart LTC/USD

Let’s now jump to Bitcoin, which comes in sixth place for the year out of the cryptocurrencies selected. Of course, Bitcoin has been the one getting much of the attention in the sector since the summer. It is up 1,390 percent year-to-date and was up as much as 1,935 percent at the record high of $19,666 hit mid-December. Interestingly, the second highest volume week of the past two years was seen in the next week following that record high. That was a down week.

Bitcoin had been advancing in a nicely formed parallel trend channel since the first quarter of the year until later in November. At that point, Bitcoin broke out through the top trend line of the channel and began to accelerate higher. This can be seen in the increase in the angle of ascent of price in the following chart.


Chart BTC/USD

Going back one to fifth place is Monero (XMR/USD). Monero is up 2,481 percent. It ended 2016 at $5.90 and jumped to at least $348.02 over the subsequent 12 months. This coin has been a steady progression higher throughout the year and recently hit a record high of $477 before pulling back. It remains in a clear uptrend.


Chart XMR/USD

IOTA (IOT/USD) takes seventh place with an advance of 1,356 percent since June, when it was launched. The high for 2017 was two weeks ago at $5.80. At the point, IOTA was up over 1,700 percent in just seven weeks. It subsequently declined as much as 80 percent off the high.


Chart IOT/USD

Finally, there is Bitcoin Cash (BCH/USD), released in August. Since then BCH has risen to $2,553 from $320. It continues to progress in an uptrend with higher swing highs and higher swing lows. It was up as much as 1,150 percent at the recent $4,000.10 high from Dec. 20.


Source: https://cointelegraph.com/news/2017-market-performance-crypto-vs-stocks

NiceHash CEO Quits After 4,000 BTC Hack, Service To Continue Work



Slovenian mining service NiceHash has swapped CEOs several weeks after hackers stole Bitcoins worth around $63 mln in 2017’s last major attack.

After the embattled platform relaunched Dec. 22, local news media reported original CEO Marko Kobal had left, himself confirming on LinkedIn:

    “As you are aware, since the recent security breach we at NiceHash have been working round the clock to rebuild our internal systems as well as management structure. I shall now stand aside and allow new management to lead the organization through its next, exciting period of growth – therefore I decided to resign as CEO of NiceHash.”

The total spoils from the NiceHash hack reached 4,000 BTC. Despite the severity of the attack, Kobal appeared confident the service would continue to operate in the same capacity.

2017 has seen a continuation of the infrequent yet poignant major hacking attempts hit well-known entities in the cryptocurrency industry, notably exchanges. Korea’s Youbit became the most recent victim, declaring bankruptcy after hackers stole funds amounting to 17 percent of its net asset value.

Speaking to Bloomberg in December, Blockchain CEO Peter Smith said the industry was overdue a major hack.


Source: https://cointelegraph.com/news/nicehash-ceo-quits-after-4000-btc-hack-service-to-continue-work

I don't know why people are always so negative about bitcoin, saying negative stuff about bitcoin all the time. Bitcoin is a currency just like USD but even better because it digital currency that is fast, secure and decentralized. With bitcoin you can buy almost everything these days.

Whenever there is a product in the market and nobody is buying the product value will surely drop next to zero because the demand is what determines the product price. If a product has no demand it is basically useless.

Not this time, a lot of people are leaving bitcoin because of the bitcoin high transaction fees and very slow transaction speed. I can't believe people are now moving from bitcoin to bitcoin cash because of these issues.

Bitcoin and cryptocurrencies are changing the way how people work, invest, and handle their money. Cryptocurrencies contributed a lot in providing jobs and investment opportunities. Many people are now fully dependent on cryptocurrency to live their lives and also to help others.