Spring Feelings for Bitcoin and other crypto currencies. For the first time in recent weeks, prices have been noticeably higher for the first time in quite a while. How sustainable the trend is remains to be seen. But many things are positive.
Who got into the Bitcoin before Christmas, has made powerful losses: 17,000 euros was worth the Bitcoin just before Christmas, today, the rate is about 40 percent of it. But the signs are good that crypto currencies in general and bitcoin in particular will recover in the near future. On the one hand, the EU has just passed a clear commitment to the research and sharing of blockchain technology. Last week, a partnership between 22 European countries was adopted on the occasion of the European Commission's Digital Day. And the US Securities and Exchange Commission (SEC) said at the end of March that, in principle, they were prepared to approve and certify crypto products, provided they met a few basic conditions.
Crypto currencies: Confidence seems to be back
But even apart from this symbolic commitment, it looks like investors and established forces can once again give the crypto currencies the confidence they deserve after a first overheating: more than 15 percent price gains last week, especially at Bitcoin speak a clear one Language. And the other crypto currencies also posted more or less broad gains over the past week. Among the top 200 by market capitalization were just four (!) Currencies, which closed the week negative.
Whether the trend can continue is still unclear and you should not bet on it (yet). In the past, there have been several similar weeks and the stock market - whether for crypto currencies or stocks - is not a one-way street. However, the general mood in the markets in recent months has been so anti-crypto that it is now more likely to be underestimated on the topic and (more importantly) bottoming out of the courses.
Soros and Rockefeller are waiting to get started (not just) with Bitcoin
What is still lacking, however, are simple vehicles that allow the non-tech stockbroker to invest in crypto currencies. The regulatory authorities of the industrialized countries (above all the German Bafin) are still struggling to admit, for example, corresponding ETFs, with which institutional investors, but also retail investors interested in the subject, can invest here. Only a few companies that (want to) make money with crypto currencies are grouped together in a corresponding ETF.
The super-rich are not bothered by this. Both George Soros and the Rockefeller family have recently been told that they are interested in investing in crypto currencies. Especially about Soros was rumored that he is still waiting for the appropriate entry point - so it could well be that his employees believe they have found him in the past week. Somewhat different is the case Rockefeller, at least after all, what one hears rumors. Here the venture capital firm Venrock is to be interested in investments in crypto companies - quite a suitable way to participate in the success of the topic.
Bitcoin: Different explanations for price increase
Another element is to be found in the US: This is where the Tax Season ends in mid-April - a time that makes re-entry attractive to many investors. It should also be added that many investors are likely to have waited for a suitable entry point after the turmoil of recent weeks - either to get started on their own analysis or Trading Bot. Especially the current situation with conspicuous increases and corresponding day-lines could have been an entry-level scenario for bots. On the other hand, it is more likely to include an explanation attempt in the realm of legends that dominated social media just last week: A Muslim scholar declared that acting in Bitcoin complied with Muslim laws and therefore was Sharia-compliant. All nonsense, say different Muslims - there are already since 2014 statements, so nothing has changed.
But which crypto currencies will be the best performing in the next few months? That, in turn, is pure coffee-reading, even though there are a few contenders to keep an eye on apart from the usual suspects such as Bitcoin and Ethererum: Bytom, for example, saw a gain of 73 percent last week, especially as a result of a strategic partnership with the East Lake Big Data Exchange. IOTA is (once again) a candidate for a tip - not least due to the support of Fujitsu-Siemens, who recently joined the IOTA Foundation. On the other hand, some other course jumps are highly speculative, for example with Golem (GNT) or Omise Go (OMG).
source t3n newsletter
translation
Coins mentioned in post:
Followed and Upvoted, Keep up the good work and looking forward to more from you.