Heroes of Ukraine

«Market Leader» - news and previews making you rich.

Thursday, 19 April 01:36 (GMT -05:00)



Foreign exchange market

Pavel Krymov: Crypto Currencies Are Some of the Most Promising Investments


For those of you who don't know, Bitcoin has been one of the biggest financial newsmakers over the last few weeks. After a prolonged rally (at some point, Bitcoin even got more expensive than gold) connected with certain events, the crypto currency unexpectedly dropped only to recover most of the lost ground a few days later.
 
For many investors out there, the biggest deterrent was a prolonged rally without retracements, which would have to end at some point. In other words, buying an overbought asset wasn’t a good investment idea at best. Eventually, amid the events taking place in the first half of March, not did Bitcoin just drop, it crashed by $250 at a time. However, this was a short-term plunge.
 
So, what actually happened and why didn’t investors stop seeing Bitcoin as a promising investment? Let’s try to figure this out in this article…
 
“Explosive” Bitcoin. Is It Good or Bad for Investors?
 
 
The price roller-coaster recently shown by Bitcoin was triggered by the Security Exchange Commission’s decision to reject the listing of the world’s first Bitcoin ETF initiated by brothers Cameron and Tyler Winkelvoss, who are private investors and Internet entrepreneurs.
 
The thing is, the SEC assumes that the Bitcoin market lacks all the necessary regulation and is subject the very high risk of market manipulation by big players. This was actually the reason why the crypto currency crashed by $250 at a time. Later on, the currency regained most of the lost ground and traded just 6,3% below the local high around $1116.
 
Probably, to some extent, the existing trend has to do with the fact that two more companies are waiting for the SEC to make up their mind regarding the listing of the ETFs offered by them: The New York Stock Exchange (requested by Grayscale Bitcoin Trust for their personal ETF exchange NYSE Arca) and NYSE Arca (requested by SolidX Bitcoin Trust).
 
We also remind you that before the SEC’s first rejection of the mentioned Bitcoin ETF, the BTC exchange rate used to be growing so fast that it eventually set a new all-time record at $1303. After the roller-coaster, the exchange rate is now somewhere around $1220.
 
 
Given the growing interest shown by the reader in crypto currencies, we decided to interview Pavel Krymov, a well-known expert in financial marketing. During the interview, we found out how promising the crypto currency can be for a retail investor and what are its mid-term and long-term prospects.
 
Bitcoin Has a Lot of Upward Potential, Pavel Krymov Says
  
 
When asked about whether investors should buy Bitcoin now, he said that if they want to win big and are willing to risk, then they should. His prediction for early 2018 is at least $2000 per 1BTC.
 
Some experts say that Bitcoin has been overpriced for years. However, Pavel Krymov assumes that this is not really the case since Bitcoin has a considerable upward potential, which is partially proved by the fact that Bitcoin managed to recover quickly after it crashed not so long ago after the SEC’s decision on Bitcoin ETFs. It took Bitcoin under 48 hours to gain back almost all of the drawdown. All in all, the strong rally we can see over the last few weeks means that there is a lot of people out there seeking to load up on Bitcoins. And chances are that the current Bitcoin rally may well get even more people on board after they learn about Bitcoin.
 
As for risks for various governments, the decentralized system reduces those risks to the minimum, the expert says. Even if some governments ban Bitcoin, the crypto currency is not going anywhere, it will just go underground. Apparently, any resistance coming from the government may make things more difficult for Bitcoin users but a lack of decent alternatives won’t affect the amount of users seriously anyways. The only big thing that can affect Bitcoin is if China decides to forbid the currency. However, the People’s Bank of China is not going to do this. On the contrary, the Chinese central bank seems to be advocating Bitcoin. Not so long ago, they released the rules and regulations for local Bitcoin exchanges.
 
Some other national banks had to be honest and announced that they cannot control Bitcoin, since this is a global trend. Banning means pushing it underground, which is why they decided to put up with it and to try adopting it instead by regulating those institutions that exchange Bitcoin for fiat money.
 
The expert also evaluated the possible reaction of various Forex brokers to the increasing popularity of crypto currencies. He thinks that the savviest brokers will definitely join the Bitcoin market, especially as they have all the required infrastructure to do that. To be more specific, the client will be offered to buy either Bitcoin directly or BTC derivatives. By the way, some of those brokers are already doing so. The next step will be all about creating various BTC-based investment products.
 
Also the expert assumes that there are several reasons why the crypto currency id destined to go even more popular and conquer the financial online world. First of all, it all about the financial attractiveness of digital currencies. Secondly, it’s all about decentralization and absence of regulation amid tougher rules for transactions using fiat money. And lastly, the block chain technology gives us an opportunity for a much wider use of any crypto currency and make it more efficient relative to fiat money.

 

 

You are free to discuss this article here:   forum for traders and investors

 

Add to blog
Got a question? – Ask it here »
 

Bitcoin Gains Value: 2 Days in a Row. Over 10% a Day

Now it seems that the long-term retracement of the USD/BTC exchange rate seen over the first quarter of the year is gradually reversing back for the uptrend.

Publication date: 13 April 12:57 PM

Bitcoin Rate and US-China Trade War

The cryptocurrency market has been going down steadily for a while. According to CoinMarketCap, the Bitcoin exchange rate has been moving around 6800 USD/BTC. Ethereum, Ripple, Bitcoin Cash and Litecoin have been trading around 382, 0,49, 633, and 119 dollars per coin respectively.

Publication date: 06 April 10:02 AM

It’s the Day of Reckoning for Cryptocurrency Funds, Bloomberg Says

Bloomberg experts claim that the day of reckoning for cryptocurrency funds has finally come. Last year, when the world’s first digital currency (Bitcoin) went sky-high in mid-December and reached another all-time high at 20000 USD/BTC, over 150 funds specializing in cryptocurrencies emerged on the Internet. In 2017, their profits reached 1000%.

Publication date: 05 April 09:43 AM

Masterforex-V Expo Names World’s Best Forex Brokers For Beginners in March 2018

Each and every forex trader out there faces the same challenge at some point in their career. This challenge boils down to choosing the right forex broker. This holds especially true for beginners who are just getting their feet wet in the forex trading environment. This choice is fairly significant for all of them since their future trading performance will depend on that choice. The truth is, all of those forex companies may differ in a number of aspects, including the offered trading conditions.

Publication date: 04 April 12:01 AM

Bitcoin 2018: New Cryptocurrency Realities

In March, the BTC exchange rate dropped by almost 3000 dollars. Some experts predict a further downtrend in the near future, Market Leader reports.

Publication date: 28 March 06:22 AM

Experts Predict Bitcoin Move Above $10K

This week Bitcoin may come close to the psychological level of 10000 USD/BTC and break above it, some international experts say.

Publication date: 26 March 02:10 AM

Masterforex-V Tells You What You Don’t Know About Bitcoin

How do you treat Bitcoin and other cryptocurrencies? Usually, those who ask you this question expect you to be either pessimistic or optimistic on the future of digital currencies, ICO and blockchain.

Publication date: 23 March 11:27 AM

Google Bans ICO and Cryptocurrency Ads

A couple of days ago, the top management of Alphabet Inc. announced that Google would ban any ICO and cryptocurrency ad campaigns starting from June 2018. On top of that, they would toughen the requirements for advertising other risky financial products, including binary options.

Publication date: 18 March 05:54 AM

Both Gold and Dollar Go Down in Advance of Fed Meeting

Interestingly enough, despite having a negative correlation, both the U.S. Dollar and gold started going down in value against other majors earlier today. International experts assume that there are several factors pressing down these assets.

Publication date: 16 March 04:07 AM

Tillerson Gets Fired, Dollar Responds with a Drop

 International investors are concerned about Donald Trump’s decision to fire another high-ranking politician from his administration. This time it was Rex Tillerson. He used to serve as the U.S. Secretary of the State, which means he used to be responsible for the United States’ foreign affairs. Later on, Donald trump tweeted that he was going to make Mike Pompeo the next Secretary of the State. For those of you who don’t know, Mike Pompeo used to serve as the Director of the Central Intelligence Agency.

Publication date: 15 March 04:01 AM