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Currency

Bitcoin Price Cracks All-Time High of $10,000

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Posted by Ezra Dulis - Breitbart News

on Wednesday, 29 November 2017 06:08

Screen Shot 2017-11-29 at 7.18.55 AM

The price of one full Bitcoin (BTC), the original decentralized digital currency, officially hit 10,000 U.S. dollars early Tuesday morning, according to data from CoinMarketCap.

The blockchain “coin” began its latest rally after Black Friday, hitting an all-time high of $9,000 on Saturday, November 25, only to surge past 10k only three days later.

Soon after, the price dipped down to around $9900. At the time of this writing, BTC has risen back to $10499.00.

Why so high?

There are several likely reasons for this massive price surge.

First, a host of big financial players recently announced they will get in on the action. Most prominently, CME Group, the largest futures exchange in the United States, has signaled that it will allow BTC futures trading as early as mid-December. While it bodes well that many traditional investors may make the jump to digital currencies, a considerable number of them seem poised for a big short. The current price spike may indicate a buying frenzy to get in ahead of the short.

...continue reading reasons 2 thru 6 HERE



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Currency

Meet The World’s Most Powerful Bitcoin Backers

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Posted by ZeroHedge

on Tuesday, 28 November 2017 06:22

Cryptocurrency may be one of the biggest threats to governments, security and the entire financial system that we’ve ever seen. 

It can help fund terrorism and its anonymity makes it almost impossible to track. Most importantly, it is poised to revolutionize global finance and banking.

But our new Enemy No. 1 can’t be fought; it can perhaps be controlled. Banks have figured that out and are bringing crypto currency into the fold.

20171128 hack

The superpowers—U.S., China and Russia--will have to face the new reality. They love to hate it and hate to love it. Regardless, if they don’t embrace it, they won’t be able to control it. An enemy you don’t control is a much bigger threat.

....read more HERE



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Currency

Oil: Standing on the Launch Pad

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Posted by Clive Maund

on Friday, 24 November 2017 06:07

Oil Market Update

It’s a good time to take an updated look at oil, because the paradoxes we observed regarding gold and silver, which we looked at in yesterday’s new Gold and Silver Market updates are much more extreme in the case of oil.On the latest 5-year chart for Light Crude we see that oil has in recent weeks succeeding in breaking out of its giant Head-and-Shoulders base pattern at last. We also see that volume has expanded greatly over the past 2 years which is viewed as a sign of a completing bottom. Recent strong upside volume has driven both volume indicators to new highs, despite the price still being way below its 2013 highs – this is viewed as a very bullish sign, and suggests that oil will advance at least to the $80 area.wtic5year201117

......For the reasoning behind a sharp move up continue reading HERE



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Currency

Opinion: Jim Rogers says bitcoin ‘looks and smells’ like all other investment bubbles

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Posted by Jim Rogers

on Friday, 24 November 2017 05:58

MW-FY728 Rogers 20171120135819 ZHThe veteran investor provides a global roundup, with a preference for Asian stocks

At 75, veteran investor Jim Rogers remains as sharp and feisty as he was two decades ago when I first met him at Columbia Business School.

More importantly for investors in search of ideas — he’s just as opinionated. 

Like him or not, Rogers is worth listening to because he has a respectable record. Sure, he makes mistakes. Most recently, he regrets not buying bitcoin ahead of its massive run-up, as a lot of people do (including me).

But he famously made a bundle alongside George Soros in the Quantum Fund. He also made a great call on commodities in the late 1990s when he turned bullish ahead of an extended bull run, and set up the Rogers International Commodity Index (RICI). 

Given his experience and record — and all the uncertainties in the world — I recently checked in with Rogers in Singapore, on what to buy and what to avoid. Here are the highlights.

....continue reading HERE

 

also: The longtime Asia bull and Quantum Fund co-founder thinks the worst bear market of his lifetime is coming. He swung by our Hong Kong bureau to discuss the risks, as well as Trump’s Asia tour and why America could become its own worst enemy if it lets China dominate the region.

Breakingviews - Exchange Podcast: Jim Rogers

Breakingviews - Exchange Podcast: Jim Rogers

 



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Currency

The Bitcoin Bubble Explained in 4 Charts

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Posted by Mauldin Economics

on Wednesday, 22 November 2017 06:12

Cryptocurrencies have surely been the best-performing asset class of 2017.

The crown jewel of the crypto world Bitcoin has run up over 604% year to date. But that pales in comparison to Ethereum’s 3,562% gain this year.

Naturally, these sorts of monstrous returns in such a short period of time spark heated debate. In fact, many financial pundits and crypto advocates have scrambled to argue whether Bitcoin is a bubble or not.

So as the financial community takes sides, I decided to dig into Bitcoin’s tremendous run using nothing but hard data to see whether it’s in bubble territory or not. (Meanwhile, I highly recommend you download our exclusive special report, Investing in the Age of the Everything Bubblefrom Wall Street veteran Jared Dillian.)

Let’s dive in.

Bitcoin’s Performance Dwarfs Tech Stocks’ Run in the 90s, but This Bubble Is Nowhere Near the Dot-Com Mania

The Bitcoin run has drawn comparisons to the dot-com bubble of the late 1990s. While the sentiment and underlying forces of both bubbles may be similar, their performance is a different story.

Image 1 20171121 RH ART JW



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