Fundstrat boils down its report into major conclusions:
1. Institutions are significantly more bullish than Crypto Twitter on BTC
2. XRP is the least liked and most polarizing
Opinions: Institutional Investors vs Crypto Twitter
Fundstrat boils down its report into major conclusions:
For those who have cryptocurrency wallets without proper backup, a huge loss may be lurking in the corner if something is not done to safely backup your wallet and recovery seeds. An investor in Turkey is counting his losses right now after losing $170,000 because he lost his password and wallet recovery information. The man, Kerem Albayrak, lost his wallet information while trying to exchange a laptop computer at a store where he initially bought the computer to get a smaller one. Being in a hurry, he forgot to safely save his wallet information or even copy it out. By the time he realized, the computer had been formatted and every information lost. He explained: “My wallet was newly transferred onto a Blockchain wallet created on the iMac after I had an incident with an offline wallet and got scared. I used [an] auto generate password by Apple with no iCloud to backup the keychain. When creating [the password], I took a screenshot on the iMac of the recovery phrase which is also now gone” Albayrak told his sad story in a Reddit post where he detailed the events leading to the loss. The scary thing about Bitcoin or other cryptocurrencies for that matter is that once your password is lost, your funds are gone as well because the wallet admin (Blockchain wallet for example) do not store such information neither do they have access to the wallet. Funds sent to the wrong or non-existent address is also permanently lost unless, in the case of the former, the recipient is kind enough to send back the funds. This calls for utmost care when dealing with wallets especially those with such huge funds like Albayrak’s. He has this advice for all cryptocurrency owners. “It’s not a joke. You don’t realize sh*t happens until it happens don’t be that guy in my position. Please copy your backup codes and secure your wallet … it’s not a good feeling. It’s not even about losing 170K … it’s about losing a wallet with that much money in BTC. It’s there but you cannot use it. When I start seeing the price go up is when it’s going to piss me off.” A 2017 estimation by Chainalysis suggests at least $30 billion worth of BTC may have been lost forever. Out of this amount, more than half has been lost or misplaced, cases such as Albayrak’s accounting for a good number of course. This should serve as a warning to those who hold BTC and other digital assets to properly backup wallet information to avoid this huge loss. The post Turkish Investor loses $170,000 worth of BTC due to lack of Backup appeared first on ZyCrypto.
First Week of December Ends with Flush of Green, Bitcoin Nears $3,700 Sunday, Dec. 9 — The crypto markets are showing a wave of green, as Bitcoin (BTC) trades closer to $3,700 at the end of the week, as data from Coin360 shows. Market visualization by Coin360. After a week of breaking new year-to-date lows, […] Cet article First Week of December Ends with Flush of Green, Bitcoin Nears $3,700 est apparu en premier sur Bitcoin Central.
Bitcoin is going through a historical trend right now, and Twitter commentator Looposhi has plenty to say about it. Looposhi, who has 54,000 followers, has been examining that led up to the halving that is presently occurring. While investors that are less seasoned with this situation are panicking, Looposhi said that this is actually a big opportunity for newcomers to purchase the token at a lower price. So far, there has only been two situations for Bitcoin that resulted in halvings, but the focus of Looposhi remains on the pre-2016 situation involving halving price action. Approximately 550 days before the halving, which ultimately occurred on July 9th, 2016, the bottom of the market was found, as Bitcoin went down to a range between $200 and $300, lasting about seven months. However, it was this lengthy time that immediately preceded a striking high, which ended up occurring about seven months post-2016 halving. Presently, the bear market of 2018 reminds the commentator of the 2014-2015 market, based on only the market structure and the price action. However, unlike that time, there wasn’t a sudden and catastrophic catalyst to cause it. In 2014-2015, there was an 85% correction, while the current market is at about 82.5%. These similar numbers have many investors believing that the market is about to approach its bottom. Looposhi posted an image on Twitter to reflect on the similarities, and how the next year will ultimately bring the Bitcoin bottom before leading to the uptrends the rest of the market has been waiting for. Based on these calculations, the halving should happen sometime in the first half of 2020. Halving changes multiple issues in the industry, like the loss of mining rewards. However, as the market balances out, these rewards will balance themselves out. The temporary loss will leave miners down for a small period, which has previously caused worry about a “death spiral.” Billy Bambrough has mimicked these remarks, talking to Forbes about the dynamic in May this year. He wrote, “While the Bitcoin price has climbed somewhat ahead of both subsequent halving events, the price has gone on to boom in the subsequent 12 or so months.” Still, as far as the crypto market goes, price predictions are largely varied with little history to properly show what will happen. If anything, this year has shown that investing in cryptocurrency is something to be cautious about.