What Bitcoin Bubble?: Why this rally isn’t like the 2017 rally

Bitcoin’s 2019 rally, which kicked off in March, has gained traction over the last few weeks. As of Wednesday at 6 p.m. eastern, the price had surged more than 9 percent over the previous 24 hours...which naturaly makes a person wonder if

bitcoin will repeat the meteoric 1,400-percent gain it made in 2017.

To begin with nobody knows nothin’ but you have to understand how much the crypto universe evolved and improved since the last crash, explains Campbell Harvey, a finance professor at Duke and student of crypto world..

Now, in spite of the recent dive there are more substantive explanations for why the outlook for bitcoin and cryptos seems to be getting better, Harvey says, citing three primary factors. a.) institutional adoption from the most powerful companies in the world, b.) not only Facebook, c.) but also banking giant JP Morgan, who introduced its JPMcoin.

Who Can trust FaceBook with their money?

For a long time there were rumors of Facebook gnomes slaving away working on a cryptocurrency. Funny names were rumored like the GlobalCoin. Or the Zuckerberg. Some people reckoned that it was all a joke. After all who would trust Facebook, of Cambridge Analytica fame, with their dough?

Here’s the Libra theory. You cash in your hard-earned kroners euros, dollars etc into the Libra reserve, which then “mints” an equivalent amount of Libras (at the prevailing exchange rate). If you want to cash out by returning your Libras, they are “burned” and you get the equivalent back in pounds, euros, dollars, etc. That way all of the available Libras at any point in time remain backed by the reserves held by the association. The idea is you can always get your real money back at a fair exchange rate.

All the central banks have spoken out if not actually attacked. This looks like the standard reaction of the established to an unruly rogue. But before you toss it off as the defensive huffing and puffing of the establishment fat cats, there are some serious questions. One: are we comfortable with the idea of a new global currency controlled by corporate bosses? At least central bankers are appointed by democratic administrations. Who elected Zuckerberg & Co. And secondly, the biggest question of all: what does Facebook get out of it? Who knows?  Rational economics seems to have left the world a while ago.

If Zuckerberg is praising it, not burying it, Bitcoin must be the real thing

If the reports are to be believed Mark Zuckerberg has helped Bitcoin to soar past $10,000 again, a price it hasn’t topped since 2017 when as part of an epic speculative bubble Bitcoin popped not long after. Nevermind the hard-to-miss differences between Facebook’s Libra and Bitcoin the very fact of Zuckerberg and the Winklevoss twins being on the same wavelength – has created a narrative where crypto has “made it.”

Bitcoin soared above $10,000 today, before flirting with $11,000+.

The world's most famous digital currency rose above $10,000 at roughly 07:30 p.m. EDT, before extending these gains in the following hours, CoinDesk reports. To explain the digital currency's recent bullishness, coin watchers have pointed to strong market sentiment, hyped up media coverage and all the excitement surrounding the release of Facebook's libra currency.

Will Winklevoss Boys Get Their Lunch Eaten by Zuckerberg Again?

A long long time ago, Mark Zuckerberg’s hunky Harvard classmates claimed the Facebook CEO stole their idea for the social network when he was just a nerdy undergrad.

Since Harvard the Winklevoss boys have been busy among other things, buying into Bitcoin, the most popular crypto currency. Facebook is hoping to change that with Libra Once again Zuckerberg seems to be beating the “Winklevii” in their own back yard. Libra wants to be the first Bitcoin-like currency with world wide, main street appeal, thanks to familiar big corporate partners like Uber, Visa, and Mastercard. Is there room for some cooperation? Or will the boys get screwed again?

Libra: The game’s afoot!

There’s fresh blood in the water and the sharks are getting ready to circle. Techs, telcos, banks, big retail now have no choice but to sink their teeth into it.

The world won’t sit twiddling it’s thumbs while Facebook put its initials on this big fat marketing potential. Loads and loads of new coin promotions are coming. Starbucks will let you buy your venti with “Starbucks.” Verizon and AT&T will issue money as mobile as what’s already in your hands Target will give you discounts if you pay in Bullseyes. St  Barts will let tourists pay in Barts.

Lots of these coins will bite the dust the way eToys and WebVan did. Most promotions flop. What's the big deal?  Coins are a product now, and if there is one thing every business wants to do, it’s to coin money....

Here’s why Bitcoin Is Breaking the $9K Ceiling

Over the weekend Bitcoin rose above $9,000, bringing year-to-date gains to 150 percent plus The top cryptocurrency was last seen trading at $9,245, a nice 22 percent gain on last Monday’s $7,524.

Crypto market gurus and investors seem to be linking the nice price gains with a number of circumstances over the week, the biggest and most obvious being Facebook’s entry into the exciting world of cryptocurrencies. More institutional investors are paying attention.  Vonse Pupik, our house spiritual advisor, wonders if we maybe just keeping the seat warm for Libra.  We'll know better after tomorrow.....

CBS on Bitcoin: It works like e-mail!

On Sunday morning (Father’s Day), CBS aired an eight-minute segment on Bitcoin — the latest time a mainstream outlet has discussed the matter in depth. During the episode of the fittingly-named “Sunday Morning”, CBS contributors sat down with Tyler Winklevoss, Cameron Winklevoss, and Ben Mezrich (author of the “Bitcoin Billionaires”)….

https://www.newsbtc.com/2019/06/16/crypto-exchange-gemini-on-the-rise-after-cbs-airs-bitcoin-feature/

Bitcoin crosses the $9,000 threshold for first time in more than 12 months

The bulls are at it again! Bitcoin topped around $9,385 in intraday trading, Coindesk reports.. The cryptocoin dipped in the P.M, and was last around the $9,100 level….The digital currency is up more than 22% over the past 30 days, and up 142% year to date. Sunday’s intraday prices were the highest for bitcoin since May 2018, though still well off its all-time high above $19,000 in late 2017.

The Zuckerberg Coin: Coming soon to a screen near you

"Yes we have a few milestones to look forward to," said one market analyst speaking chiefly about Facebook’s new digital coin the media goliath is scheduled to release a white paper about come Friday, The Wall Street Journal reports.

The "Facebook coin announcement" will "likely have a positive effect on prices as it brings more awareness and adoption of digital currencies and bitcoin to main street people," one director of digital currency research was quoted…

Wall Street wags are already calling it The Zuck

How high will Bitcoins go this time around?

Who knows? The way Donny’s first-he-says-yes-and-then-no-tariff talk is going to be hurting the economy and markets, coins look like the only place to make money other than shorting. Until someone pulls the plug, a lot of Wall St. banks and others will be buying in. Better fasten your seat belt

The hottest coin you’ve never heard of

This year’s top-performing cryptocurrency is up fourtimes Litecoin, which has soared more than 360% since the beginning of the year, is beating all its crypto peers, including Ether and XRP, as well as the most-known and biggest token Bitcoin. With a market cap of about $8.4 billion, making it the seventh-largest digital asset, if you can believe the data…..