‘Decent Probability’ Bitcoin Price Goes to Zero: Vanguard Economist

Join our community of 10 000 traders on Hacked.com for just $39 per month. An economist at one of the world’s largest asset managers believes there is a “decent probability” that the bitcoin price will eventually crash to zero. Joe Davis, the chief economist for $5.1 trillion asset manager Vanguard, wrote in an ETF.com op-ed that although the firm is enthusiastic about blockchain technology in general, it does not believe cryptocurrencies constitute a viable use case.” “I’m enthusiastic about the blockchain technology that makes bitcoin possible. In fact, Vanguard is…

Bitcoin Bull Tom Lee Sticks to Strong Forecast Despite Failed Prediction

Join our community of 10 000 traders on Hacked.com for just $39 per month. Widely followed cryptocurrency analyst Thomas Lee’s short-term market forecast may not have materialized, but he’s sticking with his bullish long-term prediction despite the setback. If anything, Fundstrat Global Advisors’ Lee is digging in his heels even further, reportedly reiterating his forecast for a $25,000 BTC price by year-end. What Happened Lee placed a great deal of stock in last week’s Consensus conference, having said that a combination of a “sanity check” among market participants that innovation on the…

How Bitfinex Tax Requirement May Have Contributed to the Bitcoin Correction

Join our community of 10 000 traders on Hacked.com for just $39 per month. On May 17, one of the world’s largest cryptocurrency and bitcoin exchange Bitfinex officially asked its users to submit tax IDs and social security numbers that could be utilized by government agencies in the countries its users are based into tax gains recorded in the cryptocurrency market. “We request that you complete the appropriate self-certification form and upload it to your Bitfinex account by May 24, 2018, at the latest. If you are a US person…

Fundstrat’s Bitcoin Price Rally Prediction Fell Flat: Tom Lee Explains Why

Join our community of 10 000 traders on Hacked.com for just $39 per month. Fundstrat Global Advisers is a finance market strategy firm well-known for making bullish predictions on cryptocurrency prices. Co-founder Thomas Lee posted the group’s predictions that the bitcoin price would reach up to $64,000 by the end of 2019, citing the future trajectory of Bitcoin mining infrastructure growth as an underlying cause. He also predicted $91,000 in two years. CRYPTO: Our quant/data scientist @fundstratQuant publishing #bitcoin mining white paper. Crypto mining economics lead/explain $BTC price—suggests $39,000 per…

Cryptocurrency Market Drops $42 Billion in Three Days, Most Tokens Struggle

Join our community of 10 000 traders on Hacked.com for just $39 per month. The cryptocurrency market has dropped by more than $42 billion in the last three days, from $412 billion to $370 billion. The daily trading volume of the market also declined by around $3 billion, from $22 billion to $19 billion. Poor Conditions Earlier today, on May 18, the bitcoin price dipped below the $8,000 mark, entering the $7,000 region for the first time since mid-April. Traders that expected the Blockchain Week in New York and the…

Bitcoin Price Will Reach Record Highs This Year: Fmr. JPMorgan Trader

Join our community of 10 000 traders on Hacked.com for just $39 per month. The bitcoin price entered another bearish trend this week after failing to pierce $10,000 earlier in the month. The flagship cryptocurrency now sits more than 58 percent below the all-time high it set in December, but one former JPMorgan trader remains confident that it will trade above $20,000 before the year is out. Danny Masters, who now serves as chairman of investment firm CoinShares, told CNBC that, despite last year’s parabolic run-up, the cryptocurrency is still…

Cryptocurrency Market Loses $100 Billion in the Past 7 Days,: Factors and Trends

Join our community of 10 000 traders on Hacked.com for just $39 per month. The cryptocurrency market has continued to fall over the past 24 hours, after seeing a decline of more than $40 billion on May 11. The bitcoin price fell to $8,250 while the majority of tokens recorded losses in the 20 percent range. UPbit + Mt. Gox On May 11, CCN reported that UPbit, South Korea’s biggest cryptocurrency exchange, was raided and investigated by local police, the Korean Financial Intelligence Unit (KIU) and Financial Services Commission (FSC).…

The Planet Uranus Told This Ex-NFL Star to Buy Bitcoin — and He Listened

Join our community of 10 000 traders on Hacked.com for just $39 per month. Ricky Williams is a former NFL star, and now he’s looking to the stars for investment advice. It’s not unusual for professional athletes to turn to financial services after earning millions of dollars in their career and looking for ways to manage it. For Williams, a former Heisman Trophy winner, the future is in astrology, and when he looked up, the stars aligned for him to buy cryptocurrencies. Williams told CNBC: “When I look at things,…

Cryptocurrency Market Sees $50 Billion Loss, Major Currencies Down Significantly

Join our community of 10 000 traders on Hacked.com for just $39 per month. The cryptocurrency market has declined by more than $50 billion over the past 24 hours, as the bitcoin price declined by more than 8 percent and other major cryptocurrencies along with tokens experienced an intensified movement on the downside. Bitcoin Price at $8,500 Over the past 24 hours, the bitcoin price has dropped by more than 8 percent mainly due to two major factors: police raid into the headquarters of major South Korean exchange UPbit and…

South Korea’s Biggest Cryptocurrency Exchange Raided by Local Police

Join our community of 10 000 traders on Hacked.com for just $39 per month. UPbit, South Korea’s biggest cryptocurrency exchange, was investigated by local police and 10 investigators after its headquarters in Seoul were raided. Chosun, the country’s biggest mainstream media outlet, reported that the South Korean authorities are suspecting UPbit of illicitly moving customer funds to the account of its executives. Investigation Ongoing On May 10, the Seoul local police and 10 investigators from the Korean Financial Intelligence Unit (KIU) and Korean Financial Services Commission (FSC) raided the headquarters…