Price action still seems to be sideways and boring ...
1) Bitcoin SUCCESS sees Australia pledge creation of price stable gold-backed cryptocurrency :
Perth Mint have said they are hoping to capitalise on the rise the trading of digital currencies as a way to help increase interest in investing in Australia.
Mr Hayes argued the decision of the mint to develop a gold-backed currency, similar to how physical currencies have previously been linked in the past, would help bring greater price stability to those investing in the digital money.
He claimed his plans would mean people could trust that the cryptocurrency was actually worth a physical amount.
He said: “With a crypto-gold or a crypto-precious metals offering, what you will see is that gold is actually backing it.
“So it will have all the benefits of something that is on a distributed ledger that settles very, very quickly, that is easy to trade, but is actually backed by precious metals, so there is actually something behind it, something backing it.”
IMO: Although Australia is trying to bank on the cryptocurrency success , what they are trying to do is a gold backed crypto which is like shit wrapped in a gifting wrap, which is quite pointless . The only upside I see to this is more awareness to the general public about cryptocurrency which is always a good thing.
2) Bitcoin bombshell: Cryptocurrency could hit $50,000 THIS YEAR in new prediction :
Jeet Singh, a cryptocurrency portfolio manager for the last six years, says it is common for virtual currencies to fluctuate by 70 or 80 percent. Speaking at the World Economic Forum in Davos, he compared cryptocurrencies such as bitcoin and Ripple to early tech giants like Microsoft.
He said: "If you look at Microsoft or Apple, when they went public their stocks were very volatile because the market wasn’t mature."
The volatility of the market may have worried newer cryptocurrency traders, but long-time investors are less concerned, as they are used to some fluctuations, Mr Singh explained.
Source : https://www.express.co.uk/news/world/911036/Bitcoin-cryptocurrency-2018-expert-predictions-50k-35k
IMO: Finally we have people from the professional financial world recognizing/justifying the price action in the cryptocurrency market, its quite refreshing to read that from the consistent FUD we keep hearing from the corporate world.
3) Bitcoin: Masked thugs stick up investor at GUN POINT in FIRST UK cryptocurrency robbery:
The masked robbers burst into the home in Moulsford, Oxfordshire, tied up the man’s wife, put the couple’s baby outside in a pram and forced the man to give them his bitcoin.It is reported that schoolchildren were locked inside as a police helicopter looked for suspects and quizzed local residents.
IMO: Waht a bunch of retards, their Bitcoin addresses are public so its very easy to track down .. atleast they could have converted it to Monero and transferred it .. haha 😀
4) The key to bitcoin’s next breakout may lie in Google search :
DataTrek Research's co-Founder, Nick Colas, said recently that the key is looking into Google search and wallet growth.
"By looking at the number of people who search for the word 'bitcoin' on Google, which has roughly a 60 percent market share of search globally, we get a pretty good sense of where the interest is,"And, just like the latest search trends, the cryptocurrency's price has been deep in the doldrums. It's been trading in the $10,000 to $12,000 range, off sharply from its record price near $20,000 it hit in December.
"Bitcoin searches have really trailed off. So, the interest levels definitely show you where bitcoin has these big breakouts and then pullbacks," said Colas.
Source : https://www.cnbc.com/2018/01/27/the-key-to-bitcoins-next-breakout-may-lie-in-google-search.html
IMO: If you check the google trends for bitcoin(https://trends.google.com/trends/explore?q=bitcoin)
You will notice a significant increase during the 17-20k region, sadly thats how retail money works, they buy high and sell low. This is the right time to invest with low retail interest and price action I think its an absolute bargain.
5)Why Are Portuguese Increasingly Excited About Cryptocurrency Trading ?
Portugal’s Central Bank Director Hélder Rosalino said that he didn't consider cryptocurrency a currency or legal tender and hinted that the Central Bank of Portugal has a similar position.
Personal income taxation does not apply to cryptocurrency gains in Portugal. “A recent binding ruling from the Portuguese tax administration says that gains from the sale of cryptocurrency are not taxed in Portugal unless the individual taxpayer carries on a business or professional activity and earns said income in that context (profit). The tax administration acknowledges that this sale is not taxable as personal income, particularly as capital income or capital gains. Thus, unless the individual taxpayer carries on an active trade or business concerning cryptocurrencies, income from the sale or purchase of cryptocurrency is not subject to tax in the context of the Personal Income Tax (PIT) code, Rogerio Fernandes Ferreira.
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