Bitcoin Takes A Step Up

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26. December 2017 15:11 GMT – In a surprising move, Bitcoin made a step up from the $13’500 level where it had stabilised (more or less) to around $15’000 at about 05:00 GMT this morning. It also remained at about tht level until just recently.

Will it hold? No way to know that until it happens, but BTC is increasing again as I write this (about 15:00 GMT). It is taking the futures with it.

27. December 2017 14:00 GMT – There have been a few larger movements up and down in the past 23 hours, but the market is remaining essentially stable (for now). It will be interesting to see if anything unusual happens before (and after) the end of the year.

28. December 2017 15:20 GMT – The more-or-less average exchange rate slid down about $1000 overnight. Mostly caused by some large parcel sells, and the visual average (the eyeball average on a non-logarithmic scale) is now running about $14k or maybe a few hundred lower.

30. December 2017 01:15 GMT – Basically more of the same in the past 12 hours or so There was an upbeat yesterday (29. December) morning – a step up early in the morning and then a similar step down later in the morning. Nothing exciting unless you get excited easily these days.

One interesting thing I have noted is that the large movements in the past few days seem almost (yes there are a few exceptions) always to be sellers. Does anybody have a reason for that? Anyway, see you later today, depending on what happens.

Oh! What are the bets for a strong surge after midnight on the 31st? I think they may be pretty good odds if someone is a betting sort.




This chart uses quotes from “Trading View”, most of our texts use quotes from Bitfinex, which often are lower.

Bitcoin Fortune Builder Newsletter – 2017.10.21

BTC Not-So-Slow Gain

bitcoinfortunebuilder-com-houseownbtcsymbolnewcolour-100x100There was a small “price explosion” in the BTC-USD exchange rates yesterday (Friday, 20 October) and today. I have not seen any particular reason for this; I would write it up to pent-up frustration after a week or so of relative inactivity. At this writing, BTC is sitting at about $6’080 per BTC but who knows whether it will advance or decline or just stay there?

Hard Forks Again

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hard forks maybe
There are two more theoretical hard forks planned for the near future now. One is the Segwit2x that we talked about last week Bitcoin-Fortune-Buider Newsletter-2017-10-08 that is now a little more firmly settled for 18 November.

The other is “Bitcoin Gold” that I honestly thought had disappeared after the August hard fork, but apparently is still around. It is now scheduled for next week (25 October).

To be frank about the whole situation, I am getting bored with these things. I expect very little market movement as a result of either fork. Next week we will see if I am right or not.

Cheers!

Craig
for Bitcoin Fortune Builder

Bitcoin Fortune Builder Newsletter – 2017.09.25

Hello again!

This is a post taken from Jameys.casa that was published this morning. I think it is interesting and maybe you will too?

Patience Is A Virtue – Part 2
Bitcoin Needs Patience, It Seems

There is another slow-down coming down the road, it seems. There is supposed to be another hard fork on the BTC system in this coming November. Are you ready?

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Is This A Hard Fork?
What we expect to see from this hard fork is roughly equal to what we saw last time (prior to and after 1 August). Lots of uncertainty in the BTC price in the run-up to the fork date, and then relief that “nothing happened” afterwards. The only problem with this is that the wait during the run-up will be knocking holes in the appreciation of the BTC during the entire month of October. Well, that’s a little exaggerated – it will be causing a lot of stagnation in the BTC-USD exchange rate, whereas we had all hoped for at least some some increase.

What’s the “Patience” about? Well, last time, the rate lost about 20% ($500) for the 6 weeks before the potential hard fork and then gained about 125% ($2400) in the following peak run. Patience pays! In this case about 5:1 . Those people who sold out before the hard fork lost a lot of potential profits!

What I’m wondering is if this is going to continue with a proposed hard fork every 2-4 months for the next few years? That could cause more damage than any of us had bargained for, including the miners. Is there a way to stop this nonsense?

Please reply using the comment form below the post. We would like to hear what you think.

Bitcoin Fortune Builder Newsletter – 2017.09.14

Hello again,

Well, there is a big panic about the Chinese stopping trading in new coin releases that has spilled over into the Bitcoin market. At this point, the BTC-USD market has fallen almost 13% since it hit the all-time high of over $4900 on September 2 – so less than two weeks ago.

I am not surprised about this – the Chinese are looking for ways to make money any way possible, and taking control of the Bitcoin market – assuming they are able to – is one way to do this. The other side of the coin is that the market rose about 150% (based on the starting point of about $1900 in mid-July this year) in roughly six weeks prior to the peak.

I feel certain that there will be some more downward pressure on the exchange rate, but I also think that there will be a strengthening upward force for a number of reasons:

  • The Chinese do not control the BTC market. They might be able to so if they coordinated their operations, but I do not think they are capable of that, there are too many independent investors involved.
  • The Chinese individuals who are in the BTC market will move their holdings outside China and continue their trading.
  • There is a large number of people who who will continue to invest in BTC in spite of what the Chinese want us to do.
  • The pressure that the Chinese are putting on the smaller alternative coins will tend to drive people to the “safer” BTC market.
  • The pressure that the Chinese are putting on new coin ICOs will also work to BTC’s advantage.
  • I think that part of the logic behind the Chinese move is that their cost of electricity is increasing as their cost of imported fuels increase, and this tends to put them at a cost disadvantage against other competitors.
  • And last, but not least, the Chinese will try to push their own coming coins at the expense of other coins, most particularly Bitcoin.

So, what do YOU think? Please comment below!

Bitcoin Fortune Builder Newsletter – 2017.09.11

Hi again,

Things have been quiet on the BTC-front the past three weeks or so, and on the average, slightly negative. On the other hand, the price today (a little over $4200 as I am writing this) is still above the $4000 level we were excited about just three weeks ago (mid-August). As I wrote in Iliana’s Casa earlier today, “patience, my dear, really is a virtue!” Why is that? Well, think about how your holdings here in your Bitcoin Fortune Builder Fund are growing. That is a much better situation than if you just sat on your hands (or your USD) and did nothing for three weeks! Now, when the BTC-USD rate increases again, you will have more BTC to grow.

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One question about the exchange rate – why is it down or just wobbling where it is? My guess is that the hurricanes in Texas (“Harvey”) and the Caribbean and Florida (“Irma”), and to a lesser extent Mexico (“Katia”) and the southern Mexican earthquake in Oaxaca are mostly responsible for that. People who own property in these areas probably have been converting their BTC to USD or Pesos to be able to get out of Florida the past few days for their personal safety, and also to be sure that they have cash to buy supplies to repair their property after the worst is finished. Don’t doubt it, there is still a lot of damage left in Houston as well as a lot of new damage happening today and later this week in Florida and the southeast US.

One Week Later

bitcoin-fortune-builder-icon-houseown-btc-symbol-100x100After all the flurry of worries and concerns and suppositions about what would happen with the Hard Fork, it appears that things are returning to normal, or at least what passes for “normal”, in the Bitcoin market. Among other things, the market broke through the record $3000 mark.

Actually, I have the impression that the market is starting to unleash a month’s worth of pent-up buying pressure (frustration?) caused by the indecision coming from the Hard Fork concerns. Evidence: the BTC-USD rate has pushed through the 3000 mark and continues to increase from there (see chart below).

Again, please remember that the chart uses OANDA reported information that is one day delayed. The last day’s data here is for 7 August 2017 according to OANDA’s reporting ($3229), but is actually for consensus values of 6 August 2017. At the time of writing this report (approximately 11:30 GMT on 07 Aug 2017), the current exchange rate reported by CoinDesk (https://www.coindesk.com/price/) is about $3264. OANDA does not report current prices for Bitcoin.

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What’s Happening On 1 August

bitcoin-fortune-builder-icon-houseown-btc-symbol-100x100There is a movement called a “User Activated Hard Fork”, something akin to a stock split, that is projected to occur on or about 1 August (that’s Tuesday next week). Of course, everybody and his Uncle John / her Aunt Matilda has an opinion on what is going to happen and how it will impact YOUR holdings.

Our opinion is that this is mostly smoke and little fire. From our point of view, the existing Bitcoin populace is too large and too involved and too concerned about maintaining their capital to make a major boat rocking a high probability. Our advice (and we follow it ourselves, as well) is to hold your BTC and try to keep exchanges down until the dust has settled.

The exchange rate BTC against USD has been held down the past month or so, presumably by concerns over what will happen, and we would not be surprised if there is a large jump in the rate when the event (or non-event) is over. $3000 and higher would not be surprising, more or less making up for the exchange rate increase that was denied by the concerns. If the new alt-coin is reasonably successful, then it might take part in the increase. On the other hand, if it fails, some folks are going to lose whatever they invested in the alt-coin. One other factor here is that the major exchangers are saying (for the most part anyway) that they will continue to deal in BTC and not in the new alt-coin until it has proved itself and stabilised to a reasonable extent.

In any rate, we stick to our advice above: “Hold on to your BTC and try to keep exchanges to a minimum until the dust has settled.”

A second advice: “Stay tuned and we will see what develops!”

Craig Hesser for
Bitcoin Fortune Builder | http://bitcoinfortunebuilder.com

The BITCOIN Advantage

Hello and welcome to The Bitcoin Advantage.
What is this about?

The basic idea is fairly simple – if you play your cards right, you can take advantage of the immense price run-up that Bitcoin has had over the past half-year (from 1 Feb to 28 Aug 2017) that is an increase to 2744.918 from 958.374 => 186 percent increase. If you assume that rate for a full year, then it is over 470% per year. Where else can you get almost 5 times the value of your initial input in one year?

And if you look at the past full years (Jul 1 – Jun 30 or Jul 1 – Jul 1), it is still impressive (looking at USD for 1 BTC):

Year Start Price End Price Percent Percent Increase
2016-17 644.88 2553.40 396 296
2015-16 261.13 628.12 240 140
2014-15 93.22 261.13 280 180
2013-14 6.635 93.22 1404 1304
© copyright 2017 Bitcoin FortuneBuilder.com

What that tells me is that it is important to get in, regardless when you start. Even the lowest return (90% annual increase in from 2014 to 2016) is still an amazing feat.

Here’s a chart using closings as recorded by Oanda, a foreign exchange firm. [ Note: with Oanda, the daily prices quoted are the fixing from the day before. That means a value with today’s date is from yesterday, and the price for today is a look at the present exchange rate, and is constantly moving until it is fixed. ]

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Here is a plot of the value of Bitcoin in USD over six-plus years [the dates are a little bit crazy in this plot]. Suffice it to say that the chart starts in mid-2010 and finishes at the beginning of 2017. Since this chart was made, the price of BTC has more than doubled (to well over $2550 in late July 2017).

BTC Price in USD
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Advice: “Stay tuned and we will see what develops!”

Craig Hesser for
Bitcoin Fortune Builder | http://bitcoinfortunebuilder.com