Bitcoin Whale Spotted – Anonymous trader buys $400 million in bitcoin
We reported Bitcoin whales behind the recent rally of Bitcoin going over $10,000 a couple of days ago. One Bitcoin whale spotted got the attention of everybody; he gulped up some 41,000 Bitcoin totaling $400 million over the span of three days. Looking at the seven day Bitcoin price chart he already made a very handsome profit thanks to this latest Bitcoin rally.
Who is the Bitcoin whale spotted?
Nobody knows who or she may be but everybody knows this is one smart Bitcoin investor. They bought near the latest bottom and already made a ton of money on gains. Other investors see the $6,000 Bitcoin price earlier this month as the bottom leaving nowhere to go but up. And that is holding true; Bitcoin has nearly doubled in value in the past two weeks and is up 35% compared to this same time last week.
Apparently, the anonymous cryptocurrency trader who made what may very well be the largest single investment in Bitcoin ever and has an optimistic outlook. And with good reason. Bitcoin is on the march back up and heading towards an all time high. Most experts agree that Bitcoin will rocket up to the $20,000 level sometime during summer ending 2018 at $40,000 or even higher.
Buying on a Bitcoin dip is a proven investment strategy and the Bitcoin whale spotted is not alone. With jitters over potential US regulatory action out of the way coupled with similar relief out of Asia, Bitcoin bad news is in the rear view mirror. Anybody who bough Bitcoin at the $6,000 or $7,000 level earlier this month has already seen an impressive gain in value.
The purchase was made between February 9 and February 12 via Bitcoin address address 3Cbq7aT1tY8kMxWLbitaG7yT6bPbKChq64. That account has seen its bitcoin balance balloon from 55,000 BTC up to more than 96,000 BTC
Bitcoin Futures on E-Trade – Yet More Proof that Bitcoin Is Still the King of Crypto Currency.
CME Bitcoin futures on E-Trade unveiled last night was just the next chapter in Bitcoin’s bright future. With a Bitcoin price slide last month yet still closing out the year on a high note of 1300%+ gains, there was talk of Ripple XRP dethroning Bitcoin as THE digital currency. Not only is Bitcoin holding steady at higher prices today and yesterday, the news of Bitcoin Futures on E-Trade just cemented Bitcoin squarely as king of the hill of cryptocoin.
E-Trade customers can now trade Bitcoin futures via the CME by placing orders through E-Trade. Expanded trading of Bitcoin futures on E-Trade is just more proof that Bitcoin is far and away the only digital currency to really make it mainstream. Truly Bitcoin is Badasseum in terms of being the very best digital currency investment anyone can make. These tangential relationships stemming from the trading of Bitcoin futures is just the next step in Bitcoin’s rise.
With nearly 4 million brokerage accounts and over 3,000 employees Bitcoin futures on E-Trade is serious business. Trading began last night and while it’s too early for any numbers, we don’t doubt they will be very pleasing to the eye. As 2018 unfolds we’re reminded all over again of Bitcoin price predictions of $40,000, $60,000 and even $100,000 before the year is out.
E-Trade is the latest online brokerage house to expand trading in this somewhat new line of Bitcoin products. Futures exchanges CBOE and CME began offering Bitcoin futures in mid-December after a wild bull run on Bitcoin pricing. With things moving so fast in the cryptocoin world, some may have forgotten that online brokers rolled out Bitcoin futures trading last month when TD Ameritrade and E-Trade began offering customers access to CBOE Bitcoin futures.
How to Buy Bitcoin – It could take just a couple of minutes or a couple of days.
According to CNBC “how to buy bitcoin” was the third most used Google search time in 2017. That’s understandable; Bitcoin is dominating dinner conversations, most cable news shows and the lives of would-be cryptocoin investors who want their share of the pot of gold.
When you decide to get on the Bitcoin bus- as millions of others already have – asking yourself “how to buy Bitcoin?” you start your ride with opening an account with one of the major exchanges (like Coinbase or CEX or Bittrexx), connect a bank account or credit/debit card and transfer money over. All of this takes about five minutes then you’re ready for your first Bitcoin buy.
Despite its turbulence in 2017 with downtime and outages due to growing pains, Coinbase is the preferred choice. To be fair to Coinbase, they have added millions of users this year alone and have been struggling to keep up with seemingly insatiable demand. Coinbase has made tremendous progress in scaling to accommodate all of these new cryptocoin investors as they continue to position themselves as the dominant cryptocoin exchange in the world.
The next most important people ask right after “how to buy Bitcoin” is WHEN to buy Bitcoin. Trying to time any market is tricky for even a seasoned investor. Trying to time the Bitcoin market is like trying to capture lightning in a bottle. As we publish this article Bitcoin is priced at $14,390, well off its all-time high of nearly $20,000 just two weeks ago. So RIGHT NOW would be a good time to buy as the consensus remains very bullish for Bitcoin. Experts are forecasting Bitcoin to run as high as $30,000 or $60,000 or even $100K per coin depending on who you ask.
That being said, there is no bad time to Bitcoin but buying Bitcoin on a dip like now is always a good idea.
Bitcoin Price Fluctuations Hit a Fever Pitch Yesterday. Here’s what probably happened.
As December 6th came to a close we reported “Bitcoin Gains $2,000 in 24 hours” settling in at just over $14,000. I stopped checking on Bitcoin price fluctuations shortly after BTC passed the $14,200 mark. I woke up on December 7th to Bitcoin at $16,000 – another $2,000 gain in just about 12 hours. I was stunned. It woke me up faster than morning coffee. Then Bitcoin went up ANOTHER $1600 in about 15 minutes. $17,600 overnight. I didn’t know what to think.
Then Bitcoin price fluctuations took the bitcoin price so high anybody watching got a nosebleed — Bitcoin hit $19,000! And then it plummeted. That all time high was gone in 60 seconds. Bitcoin pricing went into free fall losing $3,000 in value in a matter of minutes. The price went up and down like an unsure elevator the whole day. I was watching the price moves all day long to the point it was hard for me to concentrate on anything else. When the clock turned 12 and December 7th became December 8th Bitcoin was still well north of $16,000 – a tidy gain at the end of the day.
Bitcoin price fluctuations didn’t stop there. As I write this at 5:30 AM PST Bitcoin dipped below $15,000 to $14,800 then came back to $15,225 in a span of five minutes.
I think this latest mess of Bitcoin price fluctuations started when Bitcoin hit $19,000. I think the emotional alarm bells in a lot of investors went off forcing fearful investors to sell right then and there and take profits. Then more aggressive (and some might say insightful) investors who saw the opportunity in buying Bitcoin on a dip swooped in causing new demand — and the next price spike.
In my opinion, anyone thinking Bitcoin is crashing or there is a Bitcoin bubble is very short-sighted.
According to this quote found in a CNBC article entitled “Bitcoin Price Wild Price Swing After New Record” , this sentiment prevails:
“It goes without saying that prices have reached a level where sentiment is exhibiting short-term euphoria,” Mark Newton, managing member at Newton Advisors, wrote in an earlier note to clients. “But to think prices are at mania levels where this could suffer a serious crash here… is a bit ridiculous.”
I concur; Bitcoin prices are going to continue to go up and up and up day over day. As I publish this article Bitcoin is now at $15,550. See?
Bitcoin Futures – What This Means For Your Future
Thanks to Bitcoin futures trading starting in just five days, a Bitcoin clampdown in the United States is now off the table. The SEC and FTC won’t fool around with Bitcoin now that the CME and CBOE are involved, bringing institutional order to Bitcoin chaos. With published guidelines already out there (such as a 20% price swing leading to a halt in trading) Bitcoin futures look very bright indeed.
Many were surprised by the sudden announcement made by the CBOE (Chicago Board Options Exchange) yesterday to start trading in Bitcoin futures on December 10th – eight days ahead of the previously announced Bitcoin futures trading options that will be offered by the CME (The Chicago Mercantile Exchange).
Bitcoin enthusiasts are hopeful that a bitcoin ETF (Exchange Traded Fund) might be coming. Indeed, the SEC denied an application filed by CBOE earlier this year on the grounds that the cryptocurrency was “unregulated,” but CBOE head Ed Tilly said he plans to reapply with the SEC for a Bitcoin ETF. This new application is widely favored to be approved now that Bitcoin futures – and related market-based rules – will be in effect.
The argument may be helped by two features that will be a part of trading Bitcoin futures: price limits and margin rates.
The CBOE and CME will have margin rates of 30 percent and 35 percent, respectively, where a lot of money will also be made.
Shark Tank’s Mister Wonderful was recently quoted as saying he tried to short Bitcoin but couldn’t. He should be happy to know that he will be able to short Bitcoin now. In addition to being able to short bitcoin, there’s considerable speculation about whether futures will lower or increase the volatility level of bitcoin. We predict that Bitcoin will continue its unstoppable course of ever-increasng value with lots of ups and downs as history as already shown.
The CME says it will be using price limits that kick in during gains or losses of 7 percent, 13 percent and 20 percent that would slow trading with a complete halt at a 20+/- swing based on the prior day’s closing price.
Upping the ante while heating up the Bitcoin futures war, the CBOE made a point to say trading would be free through December, with no published fee schedule for January as yet.
The CME says Bitcoin futures will be priced at a premium in line with the pricing conventions of other premium products. We see this putting upward pressure on Bitcoin pricing. With the recent price surges of Bitcoin tied to the news of futures trading I see Bitcoin as having a very bright future.
Bitcoin $11,000: An 11% Gain in 11 Hours is the stuff of legend and Bitcoin is nothing if not legendary. In some markets like Japan and South Korea BTC is now at $12,000. Clearly, Bitcoin is going nowhere but up. Lately, the cryptocurrency has been breaking through psychological as well as symbolic price barriers every few days. Picking up speed since the weekend it took Bitcoin a little over two weeks to go from $7,000 to $8,000, just a week to reach $9,000, and only two days to rise to $10,000 then $11,000 and beyond.
Bitcoin $11,000:An 11% Gain in 11 Hours could be a “movie of the week” title yet somehow I don’t think the screenplay can be completed as yet. At the current rate of price growth a $1,000 or even a $2,000 price gain in a single day is entirely possible. Case in point; Bitcoin went from $10,000 to $10,660 within a couple of hours. Bloomberg just published an excellent article encapsulating the thinking of some of the foremost cryptocoin experts. The most frightening feedback, if you could even call it that, is some experts are expecting a market correction which will lead to a buying opportunity (see Buying Bitcoin on a Dip) which will lead to a rapid price rebound. Like always.
No Bitcoin bubbles here. Nothing to see. Move along.
New investors to Bitcoin are still sitting on the sidelines but itching to get in. The most common question floating around the Internet runs along the lines of “Is it too late to buy Bitcoin?” Hell no.
Price predictions for Bitcoin peg it at $40,000 or even $50,000 by the end of 2018 depending on the digital currency expert you ask. Seeing Bitcoin $11,000:An 11% Gain in 11 Hours should be proof enough for any cryptocoin investor — novices and veterans alike — that buying as much Bitcoin as possible as soon as possible is the smartest possible play.
Remember: Any investment comes with risk. In as much as Bitcoin has an incredible track record and a very bright future, any Bitcoin investment is putting your money at risk. Do your own research, assess your own tolerance for risk and buy only as much Bitcoin as your budget will allow
After teasing the $8,000 mark a couple of times last week Bitcoin is solidly in $8,000 territory with a $9,000 price point on the horizon. For all the naysayers and doubters let’s look back to the events of just a week ago when Bitcoin “collapsed” to roughly $5500 on the news that Bitcoin Cash was gaining ground in cryptocurrency. All told Bitcoin rebounded by nearly 50% to fresh all time highs.
While Bitcoin Cash remains viable the blistering blast of Bitcoin values smashing through all previous records earns center stage.
While there is no end of speculation as to which new cryptocoin will emerge as “the next big thing” there is even more speculation and common concurrence that Bitcoin itself remains that next big thing. And growing bigger every day. Bitcoin’s price dip last weekend came after a proposed upgrade to the bitcoin network, SegWit2x, which was planned for November 16, was called off leading to something of a Bitcoin rebellion whereby many cryptocin enthusiasts switched to Bitcoin Cash. The original purpose of the hard fork was to increase the transaction speeds of bitcoin by upgrading from 1MB to 2MB blocks as 1MB blocks are seen as too cumbersome given the sheer volume of transactions which seem to be experiencing increasing back ups to work flow.
Meanwhile, there has been a slew of positive news which has supported the bitcoin price such as Square’s announcement of allowing Bitcoin trades in their app. Then there’s the favorable adoption of Bitcoin in swaths in Africa and in Japan which has counterbalanced clampdowns from regulators in countries including China and South Korea.
CME CEO Terry Duffy told CNBC that the futures product could be available by the second week of December. It would not surprise us to see Bitcoin blast straight through $9,000 and into $10,000 territory by the beginning of 2018.