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October Is The Month For Bitcoin BTC

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Happy new month to you and all our readers! The last one month has been a tumultuous one for any crypto enthusiast, trader or hodler of any digital asset. Most of the days were filled with declining values and panic due to the news. Bitcoin BTC being the King of Crypto and being volatile during the last month, all alt-coins also suffered due to its relative instability.

A Recap Of September FUD and ETF Anxieties

First, there was the Goldman Sachs news of September the 5th that they were ditching plans to open a Bitcoin and Crypto trading desk. The news went to state that the firm was focusing on custody services that will bring the much-needed funds to the industry. In a sense, the news had stated that Goldman Sachs would not pursue digital assets as forms of investments. However, this news turned out to be fake, but the damage had been done.

Secondly, there was an air of anxiety for the SEC was scheduled to rule on the Bitcoin ETF application by CBOE, VanEck, and SolidX, by the 30th of September. However, the authority announced on the 20th of September, that it needed more time to make a decision. They also requested for the input of the public with regards to the rule change in the ETF. This, in turn, pushed the SEC decision to late December.

Thirdly, there was a bunch of Bitcoin futures contracts by the CME expiring on the 28th of September. Therefore, due to the historical past performance of Bitcoin BTC when futures contracts are about to expire, many traders had held back making any major moves for there was uncertainty. Many of the savvy traders headed to BitMex to attempt to short Bitcoin BTC and other digital assets, but Bitcoin proved to have a good support level above $6,500.

What October Holds For Bitcoin BTC

The first good thing about October, other than it being the month of good sports around the world, is that there is no pending major decision from the SEC. A Bitcoin ETF will not hover over the minds of traders as they attempt to make gains in the markets for the next few weeks.

Secondly, October comes before November and when the Bakkt firm is scheduled to launch. This then leaves the crypto space wide open for natural gains without fears of any bad news. Bakkt aims at bringing Bitcoin and crypto investing to the mainstream using existing regulation, rather than trying to change the rules like the pending Bitcoin ETF.

The firm also plans on providing custody services for the institutional investors who want to buy in bulk. Therefore, the challenge of storing large volumes of cryptocurrencies is left to Bakkt which is regulated and has all the necessary licenses.

Given the fact that the US stock market is worth an estimated $30 Trillion, Bakkt will make it possible for cryptocurrencies to bite off a small chunk of this value as investors look for alternative, untapped sources of attaining considerable gains. Bakkt recently tweeted their first investment product as follows:

Our first contracts will be physically delivered Bitcoin futures contracts versus fiat currencies, including USD, GBP and EUR. For example, buying one USD/BTC futures contract will result in daily delivery of one Bitcoin into the customer’s account.

In conclusion, and not hating on the month of September, October brings in a breath of fresh air in the crypto markets for there is no reason to be nervous in the markets. But as is always suggested, it is good to set stop losses and keep up to date with news from Global Coin Report.

Check out the Global Coin Report talk show as we address all the highlights in crypto and the financial markets. With guests from all over the cryptosphere bringing you news, editorial, and of course, money making opportunities.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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Bitcoin

Behold The Cryptopreneurs – Overcoming The Obstacles Facing The Blockchain Industry

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Integrating blockchain technology is fast becoming a necessity for enterprise ventures and small or large businesses, but with a growing number of choices in the tech revolution, it’s difficult to pick a direction without feeling overwhelmed or taken advantage of. This is where BEHOLD THE CRYPTOPRENEURS comes in.

Private keys, the myth of anonymity, and the battle against anarchist ideology are only a few of the difficult challenges faced by businesses that want to incorporate blockchain into their culture. Author Dennis H. Lewis guides the reader through those challenges and helps them discover the true potential of investing in this new economic paradigm.

Every business has pain points that must be overcome in order to branch out and thrive in an ever-changing commercial environment. Blockchain has real world solutions and cryptopreneurs are not limited to the cryptocurrencies they invest in but rather how they seize economic and technological opportunities to make it work for them.

Innovation, trust, and solutions can differentiate your business from all the noise, but without a solid marketing plan, a cryptopreneur can have the best idea and never get far. Remember: a million great ideas times zero market presence equals zero success.

Investors want to know there is public interest and enthusiasm in a project before they commit any money to it. As a cryptopreneur, you are tasked with generating that interest from the…

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