Welcome to the World Blogger digest of interesting and important news and views about Cryptocurrencies.
Analyst Who Predicted 1987 Stock Market Crash Predicts Bear Market for Bitcoin and Altcoins
Market analyst Elliott Prechter has projected that digital currencies, particularly Bitcoin, will experience a sharp decline in the near future. Prechter has correctly forecast the surge of Bitcoin in 2010 when the cryptocurrency’s price was just six cents.
In his July 13, 2017 report, Prechter claimed that the Elliott wave pattern, optimistic psychology, and Blockchain bottlenecks will lead to the collapse of the digital currency market.
"The price activity and manic sentiment that led to present prices have dwarfed even the Tulip mania of nearly 400 years ago. The success of Bitcoin has spawned 800-plus clones (altcoins) and counting, most of which are high-tech, pump-and-dump schemes. Nevertheless, investors have eagerly bid them up.”
Previously predicted the stock market crash
Full story at http://bit.ly/2uL6aeu
Source: CoinTelegraph
SegWit Activation Could Potentially Bring In New Investors
Is the scaling issue going to break the major barrier to the traditional investment market to plunge into the Bitcoin space?
Most enthusiasts would hope so as there has been the narrative that a resolution of the scalability of Bitcoin is what mainstream investors have been waiting for.
If that truly is the case, then could we be in for a huge splash into the combined market of the global stock and bond markets worth over $100 tln?
Take note that is if it can get a tiny fraction as some views show online - a meager one percent of the market share could push the total cap to $1 tln (10x its current cap of about $100 bln).
Full story at http://bit.ly/2eIRqXp
Source: CoinTelegraph
It is Baby Steps But Bitcoin is Taking Root in Africa
Tanzania is the latest African country that is embracing the technological digital currency revolution as it shows some impressive growth, despite the small numbers.
In Africa, it is Kenya, Nigeria and South Africa that are the pioneers of cryptocurrency, but as the world of Bitcoin spreads, places like Tanzania are starting to show growth.
According to Coin.dance, a Blockchain information portal that provides up-to-date metrics on various sectors of the Bitcoin ecosystem, Tanzania has shown a big spike in Bitcoin trading with Nigeria also impressing, more so with their figures.
Weekly LocalBitcoins volume has been up in the second week of July as there was 83 mln Tanzanian shillings (TZS) worth of trading in that week.
Full story at http://bit.ly/2eIdilQ
Source: CoinTelegraph
Rothschild Inv. Corp Invests in BTC Per SEC
In a move that shouldn’t stun most BTC and cryptocurrency followers, Rothschild has purchased Bitcoin via the GBTC (Bitcoin Investment Trust) investment vehicle.
SEC articles signed on Friday indicate that Rothschild has diversified into cryptocurrencies, now owning $210,000 worth of GBTC.
Full story at http://bit.ly/2eIdp0K
Source: CoinTelegraph
BIP 91 Lockin Leads Bitcoin Higher Despite Weekend Worries
The recent lockin of the BIP 91 upgrade to the Bitcoin Blockchain has excited large numbers of otherwise nervous investors.
Miners were signaling 97 percent of as Friday, effectively locking in the BIP 91 solution, as well as Segregated Witness (SegWit).
The news sent Bitcoin price soaring.
Within 24 hours, the price had increased by nearly 40 percent on the week, with the good news signaling to investors that Bitcoin would continue to maintain its otherwise foolproof tech stability.
Full story at http://bit.ly/2eIdpOi
Source: CoinTelegraph
Dash Price Soars After Getting Accepted on App Store
Dash is currently the seventh biggest digital currency in the world in terms of the total market cap, which is valued at about $1.4 bln and has been increasing after getting accepted on the App Store.
Apple has officially authorized the digital currency Dash on its App Store as of mid-July 2017, after previously rejecting the currency.
According to Dash CEO Ryan Taylor, the decision by Apple to accept the cryptocurrency is a recognition of the growing demand and importance of the currency. He expressed that the decision for Apple must have been a difficult one as they are always on the lookout for user safety and ensure that only reputable projects can access the ecosystem.
“Our users can confidently use Dash Wallets that are maintained, officially supported and known to be safe. Apple has shown a willingness to allow worthy digital currencies into their platform, but that requires an incredible amount of due diligence on their part. We’re pleased that they determined Dash was worth the substantial effort to evaluate, and we’re obviously pleased with the outcome.”
Full story at http://bit.ly/2eIdBx0
Source: CoinTelegraph
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