$BTC.X $ETH.X $XRP.X
Bitcoin has seen its value more than half since hitting a high of almost $20,000 in December. On Sunday, one bitcoin cost investors $7,366. Now, the researchers at New York-based Fundstrat Global Advisors believe they have mapped out the short and long-term trends of the digital currency, including mining costs, trading trends and other technical analysis.
Published by Forbes, the statistics-based graphic compiled by the company’s Head of Research, Tom Lee, shows the currency’s history of dramatic rises following dramatic falls in value. Lee also developed the Bitcoin Misery Index (BMI), a contrarian indicator, meaning the lower it is on the scale, the greater the likelihood of bitcoin will moving up in price. The cryptocurrency is currently at the second lowest point of the past eight years.
Lee’s prediction isn’t shared by billionaire investor Warren Buffett who expects bitcoin, and all cryptocurrencies, to come to a “bad ending.” Buffett added that he doesn’t own a single bitcoin and has no plans of investing in it.
The drop in bitcoin’s value was likely sparked by Google’s announcement Wednesday that it will ban all cryptocurrency ads “including but not limited to initial coin offerings, cryptocurrency exchanges, cryptocurrency wallets and cryptocurrency trading advice.”
Google was responding to a move by its main advertising rival Facebook which had announced the ban in January. The cryptocurrency was also probably hit a warning from the US Securities and Exchange Commission (SEC) earlier this month that cryptocurrency exchanges were not regulated.
Transparent Exchanges are the Future of Bitcoin
Tax evasion and money laundering are not going to be accepted by Governments around the world and the true future of Cryptocurrency is not dependent on criminals and money launderers, some crypto houses like G-BiT have seen the writing on the wall and build a system that is compliant with international Anti Money Laundering and Tax Laws.
There is no doubt some CryptoCurrencies with fail, some will be scams, and some will live on to change the very nature of money and wealth, no wonder the old dudes are scared.
CryptoCurrencies is not about Tax Evasion or Money Laundering, real hardcore fundamental CryptoCurrency Exchanges like G-BiT have seriously tackled the Money Laundering and Tax issues, that’s why they have such a bright future. While the Establishment still wants you to be hit with heavy fees and delays sending money around the world the reality is that is legalized theft built in to the Banking Sector and is not a product of cost or reality, CryptoCurrencies have proven that!
Join the Channel Now, Click Here
Latest posts by S. Jack Heffernan Ph.D (see all)
- Red Element Headlines Bloodstock Auction Sale in Australia - April 28, 2019
- Juddmonte Grand Prix de Paris at ParisLongchamp - April 22, 2019
- Australia’s Horse Racing and Breeding Industry Needs Strong Political Representation - April 13, 2019