Michael Oliver, the proprietor of Momentum Structural Analysis (MSA) – a research firm specializing in detecting momentum-based movements – believes the recent gold bull market rally might differ from the other gold rallies. Oliver stated that due to several factors, not investing in gold could mean missing “what will likely be a generational event.” MSA […]
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How Digital Assets Have Revolutionized the Way We Build Generational Wealth
Ten years ago if you asked someone what their plans were for building wealth, their answer would have likely been investing long-term in real estate, the S&P 500, bonds, private equity, or hedge funds. Fast forward to 2022 and the dawn of DeFi has revolutionized the way people seek to build wealth for the future, with digital assets now providing a new alternative for investment opportunities.
Although generational wealth has historically been accumulated through traditional investment streams, a recent survey by CNBC Millionaire Survey found that 47% of millennials have 25% of their portfolio invested in cryptocurrency. Even with such clear signs that cryptocurrency is pioneering a new way to build wealth for years to come, the survey recorded that only about 10% of American millionaires held more than 10% in crypto investments, with 83% holding none.
Evidence also shows that the widespread adoption of cryptocurrency has started to shift the way that the wealth management industry, including private banks, brokers, and wealth management firms, is adjusting to the rapidly evolving cryptocurrency landscape with pension funds starting to invest in crypto as well.
Although cryptocurrency has sprung into the mainstream over the past few years, the digital asset came from humble beginnings. From 2008 when the domain name bitcoin.org was registered, to 2009 when Satoshi Nakamoto sent 50 BTC as the first bitcoin transaction to Hal Finney, cryptocurrency has come a long way since its inception. By 2020, Bitcoin had reached many milestones, including smashing its 2017 record when it traded in the ,000s for the first time. March of 2021 saw its value reach ,000 and in April some of the world’s biggest brands were taking Bitcoin as payment. Come September, El Salvador had become the first country to adopt bitcoin as legal tender.
Many of the industries that have provided investors with substantial wealth have been those that were undiscovered or with untapped potential. A great example of this is growth stocks in tech companies flying under the radar like Shopify before they exploded in value. Investors that were able to recognize the potential behind this opportunity saw a massive return on investment.
Even with cryptocurrency quickly becoming conventional news, it still has room to grow, with experts predicting that bitcoin’s forecasted value is on track to compete with gold—potentially reaching 0,000 within the next five years.
The attraction to digital assets lies in many factors, a major one being that they are decentralized, i.e. there is no central authority or controlling entity that can tamper with or enforce any form of censorship upon your assets. Cryptocurrency is not the only digital asset born off the blockchain as NFTs (non-fungible tokens) have also seen a major uptrend in popularity over the last year. NFTs allow creators to sell art of all kinds—photos, video, or audio—that are all stored on the blockchain.
One of the frontrunners in the DeFi space is Baanx, a corporation building the infrastructure required for the mass adoption of digital assets. By helping consumers and corporations harness cryptocurrency, this fintech is aiming to change how the world interacts with their crypto investments and creating more use cases for their digital asset holdings. An example of this is the recent FCA approval that Baanx received for it’s Cryptodraft product that will allow users to borrow based on their crypto portfolio.
Founded in 2018 by a collective of innovators with a cumulative experience of 100 years in the banking sector, Baanx was built with the intention of tapping into the potential of digital assets and their inherent utility. Fast forward to 2022, and Baanx has already partnered with industry leaders including Ledger and Tezos. Moving forward, the company aims to replace traditional fintech services by bringing trust and transparency to the digital asset market.
Baanx’s infrastructure, powered by its native utility token BXX, allows users to send, spend and manage their crypto efficiently and securely, all the while receiving rewards for these activities and usage of the platform. The token rewards users with network-fee distribution based on the amount of BXX that is held and will allow users to enjoy Cryptodrafts in the future. Users can stake tokens for liquidity rewards, and earn BXX for staking stablecoins.
For those looking to build generational wealth, investing in digital assets provides a new, more lucrative, and more secure alternative to investments made from traditional banking. As companies like Baanx continue to push the envelope and create even more use cases for crypto investments, savvy investors are likely to benefit from early investment.
A Generational Bitcoin Buy Signal Is Almost Back
Bitcoin price has made a decent recovery from the lows put in around ,888 and the yearly open, but still has ways to go to catch up the all-time highs.
A buy signal could trigger just days from now, according to the creator of the tool – crypto expert and founder of Capriole Investments Charles Edwards. Not only is this buy signal significant, it has a reputation for being Bitcoin’s most profitable.
Expert Says Generational Buy Signal Is In The Cards
Over the last few months, Bitcoin experienced one of its largest bull market crashes on record – enough to get the market to question if a bear market had begun.
The dramatic collapse was in part driven by an exodus of miners from China and related energy FUD. It caused the Bitcoin hash rate to also plummet, which in turned caused the hash ribbons to cross back over to capitulation.
Related Reading | The Idea That The Bitcoin Bottom Is In Is Broadening
According to the creator of the tool, Charles Edwards of Capriole Investments, a buy signal should arrive some time this coming week. But what exactly does this mean? There are buy signals galore in technical analysis. This can occur when there’s a TD9 during a downtrend, a decisive close through the middle-Bollinger Band, or at a crossover of the MACD.
A Hash Ribbon buy signal is on the cards for next week
— Charles Edwards (@caprioleio) August 5, 2021
The Most Profitable Bitcoin Buy Signal Is Back
However, the Hash Ribbons buy signal is the buy signal known for the most profits in Bitcoin ever. The last signal of each cycle is especially strong, reaching as much as 5,000% and 3,000% ROI in the past.
The first of the two finale signals took Bitcoin from to ,200, and the second sent the cryptocurrency from 0 to ,000 per coin and made it a household name.
Related Reading | How A Hammer & The Golden Ratio Could Mean 6 More Months Of Bullish Bitcoin
What comes next, could be even more dramatic with the entire world at attention. The law of diminishing returns appears to be present, and there have been more capitulation phases and buy signals than during any other cycle.
These factors could alter the final results, but the tool itself has a track record of success.
5,000% and 3,000% ROI came from the last two signals | Source: BTCUSD on TradingView.com
The Hash Ribbons are a moving average based on Bitcoin difficulty and hash rate. It is supposed to indicate when miners have given up and have started to sell their coins.
If or when it arrives next week like Edwards says, it could be the start of another bullish impulse in crypto – and it could be the last one before the cycle has ended.
Follow @TonySpilotroBTC on Twitter or via the TonyTradesBTC Telegram. Content is educational and should not be considered investment advice.
Featured image from iStockPhoto, Charts from TradingView.com
NewsBTC
The Greatest Shakeout: Bitcoin Reclaims Generational Log Curve With 160% Rally
The devastating day now known as Black Thursday took Bitcoin price down to ,800. The sharp collapse also knocked the asset out of a logarithmic growth curve it had been following its entire history.
This latest, over 160% rally has now reclaimed that generational log curve, making it the greatest shake out the cryptocurrency market has ever witnessed.
Bitcoin Reclaims Log Growth Curve After Greatest Shakeout In Crypto History
Bitcoin price had been trading at over ,000 in February, after an early rally in 2020. The stock market alongside it had set a new all-time high.
But a spreading pandemic and its impact on the economy had other ideas for markets, causing a catastrophic collapse. The stock market suffered its worst quarter close on record as a result, and Bitcoin fell out of a logarithmic growth curve it traded within for over ten years.
Related Reading | Stimulus Checked: Here’s The ROI on a ,200 Investment in Top Crypto Assets
The drop out of the growth curve had even the most dedicated Bitcoin supporters wondering if it could actually go to zero. Oil prices falling into negative territory alongside Bitcoin’s demise only further fueled these fears.
However, markets have been recovering thanks to stimulus checks handed out by the US government. The economy is reopening, and the pandemic is slowing.
Bitcoin has now rallied over 160% from its recent bottom and has reclaimed the log curve, leaving the greatest shake out in crypto history on Bitcoin price charts.
Possible Price Targets Based on Logarithmic Growth Curve
Bitcoin is trading back withing the all-important logarithmic growth curve. It can once again be used with some confidence for upside price targets and finding the next potential peak.
Upside targets can be established by targeting the upper band. Selecting key dates that may act as logical tops for Bitcoin, can provide sensible and realistic price levels.
There is a tendency for Bitcoin to reach set its tops and bottoms in December, so December 2020, 2021, and 2022 have each been selected.
Potential top levels put Bitcoin price reasonably at ,000, 0,000 and 0,000 respectively. As time goes by, the potential growth slows and volatility within the curve declines.
Related Reading | One Week Away: Comparing Past Pre-Halving Bitcoin Price Action
Each time the crypto asset passes through the median line, it has set a new all-time high price record. Falling through it has resulted in a bear market. In the example above, it failed to break through the median in June 2019.
Each new bull market has been the result of Bitcoin’s halving, which is just three days away. Now that the shakeout is over, Bitcoin has reclaimed the log curve, and the halving is here, the next bull market may finally be next.
Featured image from Pixabay, Charts by TradingView
NewsBTC
New Survey Finds “Generational Shift in Trust” from Stocks to Crypto
The post New Survey Finds “Generational Shift in Trust” from Stocks to Crypto appeared first on DCEBrief.
CFTC Chairman Claims Interest in Bitcoin Is a ‘Generational’, Calls for ‘Respect’
The chairman of the U.S. Commodity Futures Trading Commission (CFTC) and the Commissioner at the U.S. Securities and Exchange Commission (SEC) have commented on cryptocurrencies at this week’s Milken Institute Global Conference.
Christopher Giancarlo, chair of the CFTC, likened Bitcoin to the baby boomer generation’s rejection of past societal norms through their experimentation with ‘sex, drugs, and rock and roll.’ Meanwhile Michael Piwowar, commissioner of the SEC, stated explicitly that Bitcoin should not be considered a security, but that most initial coin offerings (ICOs) have been illegally organised and operated according to existing regulations.
Is Bitcoin This Generation’s Rock and Roll?
Giancarlo spoke about Bitcoin during a presentation titled, ‘Financial Regulation: New Era, New Regulators’ on Monday. Rather than dismissing it outright as many associated with traditional finance have, the chair of the CFTC called for ‘respect’ for ‘this generation’s interest’ in Bitcoin. He continued, citing the financial crisis of 2008 as spurring interest in the financial innovation:
“There is something going on here that is generational. Just as the baby boomer generation lost faith in the leaders that came before them and tried to seek a cultural change in those days through sex, drugs and rock and roll, I think there is a generation that also has lost faith in us that led them through the financial crisis and they see technology as a way of disintermediating institutions for which they don’t have a great deal of respect.”
According to a report from Reuters, he surmised the current fascination with cryptocurrencies as being a struggle to fit dated principles of law to ‘new and different applications.’
During the same presentation, Piwowar turned the attendees’ attention to the craze of ICOs.
He stated that he believed every ICO he had personally looked at should be deemed a security. Piwowar then went on to classify securities under three general categories: registered public offerings, exempt offerings, and finally, illegal securities. In his own words:
“If you are not falling into the first two buckets, we’ve said we’re coming after you. Bitcoin itself is not a security but these customised tokens for these initial coin offerings, most of them are. There is some legitimate stuff going that is on and then there is literally the fraud ones.”
For those who are unaware of what the Milken Institute Global Conference is, you can think of it as a global think tank that discusses practical ways to widen access to capital and promote prosperity. They hold various conferences every year with some rather eclectic speakers and panellists.
The institute’s flag ship event, this week’s global conference, featured the likes of primate expert Jane Goodall and five-time Super Bowl Champion Tom Brady, along with more typical speakers from the world of global finance. The comments on cryptocurrencies were just a very small part of the entire event’s program.
Image from Shutterstock.
The post CFTC Chairman Claims Interest in Bitcoin Is a ‘Generational’, Calls for ‘Respect’ appeared first on NewsBTC.