Wealth Articles


Dec 20, 2018 | Wealth Articles

The meteoric ascent of Bitcoin and other cryptocurrencies in 2017 was an amazing event to witness and participate in. while Bitcoin has fallen by 85% since last December, the story of crypto is still being written. In the coming year, a major piece of the puzzle will be added to this mosaic.
This missing link will add legitimacy in the minds of both retail and institutional traders. What crypto investors want, more than anything, is a sense that it’s not just the Wild West. They need to know that transparency, protections, and regulations are in place so they can trade Bitcoin with confidence.
What they’re looking for is price discovery: the determination of the proper price of an asset through supply and demand, without external factors, such as regulatory troubles or lack of proper institutional framework.
The fluctuations of the price of Bitcoin, along with the relatively small size of the cryptocurrency market, $110 billion, compared to the global stock market which is over $60 trillion, have led investors to worry about manipulation by “whales.”

Courtesy: howmuch.net

The “whales” are large institutional investors that have been known to manipulate the price of relatively small asset classes, especially when true price discovery hasn’t been established. These whales won’t be able to use cryptocurrency as their playground in 2019 when some very big players make their move into crypto for the 1st time.

NASDAQ, the world’s second largest stock exchange, is planning to launch Bitcoin futures in the first quarter of 2019. According to a Bloomberg report, NASDAQ is betting on sustained interest in cryptocurrency despite 2018’s price drop in Bitcoin.

When they establish Bitcoin futures, it will provide traders and investors with a centralized marketplace, where proper price discovery can take place within a regulated and secure setting.

This actually isn’t the first time that Bitcoin futures have been launched; in 2017, the CBOE Global Markets and CME Group launched their Bitcoin futures contracts.

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If I thought that this was the only major player betting on the future of this industry, then I wouldn’t be taking notice, but NASDAQ isn’t the only exchange showing confidence in cryptocurrency. There’s only one exchange that’s bigger than Nasdaq, and that’s the New York Stock Exchange. And the Intercontinental Exchange, also known as ICE, is the owner of the New York Stock Exchange.
On January 24, 2019, ICE will launch their own physically delivered bitcoin futures exchange. This will take place on a platform known as Bakkt, which will use Microsoft’s cloud to deliver “a company that will enable consumers and institutions to buy, sell, store, and spend digital assets on a seamless global network.”
You already know I’m profoundly bullish on International Exchange (NYSE: ICE). Pure Blockchain Wealth considers this the best opportunity in crypto right now.
Microsoft, Starbucks, and Boston Consulting Group are partners of ICE in the Bakkt project. They hold the keys in the ignition that will send crypto prices soaring.
It’s all one, big domino effect. With enhanced legitimacy, trust, and proper price discovery for Bitcoin, the SEC will have no reason to deny a Bitcoin ETF any longer.
Their excuse for denying the Winklevoss twins’ application for a Bitcoin ETF in July 2018 will be gone – all of the roadblocks will be cleared – the final piece of the puzzle will be in place.
This industry is so shaken-up right now that some of the early Bitcoin millionaires are ditching and boarding-off the ship. The price is 85% less risky than a year ago. By definition, if the demand increases and with regulatory issues largely solved, 2019 could be one for the record books.

Best Regards,

Brad Robbins
President, PureBlockchainWealth.com

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Legal Notice:
This work is based on SEC filings, current events, interviews, corporate press releases and what we’ve learned as financial journalists. It may contain errors and you shouldn’t make any investment decision based solely on what you read here. It’s your money and your responsibility. The information herein is not intended to be personal legal or investment advice and may not be appropriate or applicable for all readers. If personal advice is needed, the services of a qualified legal, investment or tax professional should be sought.Please read our full disclaimer at PureBlockchainWealth.com/disclaimer

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