$125,000 BTC? Tom Lee thinks so. 😏
In my humble opinion...
the truth may surprise you!
Coin of the Day
(CRYPTO: BBC) TraDove is a business social networking platform for business-to-business (B2B) marketing, sales, and trade platform. There are currently no platforms on which businesses can interact with one another, and the process of corporate sellers finding buyers is highly inefficient and time-consuming. TraDove will be a social network for businesses where they can endorse and make references to other businesses. By making reputations salient, it allows for interactions with credible businesses. Furthermore, TraDove has an AI integrate into its platform which optimizes the matching between buyers and sellers. TraDove has already been operating for over 5 years, serving over 100,000 companies. As the founder, Kent Yan put it, TraDove will help businesses find sellers and/or buyers “in clicks, rather than weeks.”
You may be worried about your crypto portfolio, but the head of research at Fundstrat thinks we're looking at a $125,000 Bitcoin...in 2022.
In the crypto world, some exciting things are happening! Tom Lee, the head of research at Fundstrat Global Advisors, thinks that the most recent market meltdown was "the biggest buying opportunity in 2018" (we hope you saw that as well), and Bitcoin's price may reach a jaw-dropped $125,000 by the year 2022. You may think the number's unattainable, but many people thought Mike Novogratz was smoking something funky when he declared that Bitcoin would hit $20,000 by the end of 2017 – and it did. Oh, and Novogratz thinks that it'll reach $40,000 by the end of 2018 (nice). Unfortunately, Lee predicts that crypto returns will be a bit smaller this year than in 2017. So, you should probably strike those 30,000% ICO returns from your annual budget.
If you're into crypto going mainstream (which is, at this point, equivalent to you making more money), you'll be happy to hear that Morgan Staley joined Goldman Sachs as the financial institutions clearing Bitcoin futures for their clients. While Morgan Stanley's CFO claims their involvement is for their institutional clients who are hastily trying to become involved, it'll clearly help the banks when it comes to history. The NYSE's parent company, the Intercontinental Exchange (ICE) is working with Blockcstream to launch a new crypto-based data feed that will gather data from 15 different crypto exchanges around the world. No word on whether or not South Korea will make the cut (we're thinking they will).
To ban or not to ban...a question governments can't seem to answer anymore. Nonetheless, things are getting heated.
It seemed that we've passed our blissful ignorance phase of 2017, and moved to a more analytical regulation period. If you've been hiding on some remote island, you probably missed that South Korea's been under fire recently for allegations of insider trading; more specifically, a government official sold his Bitcoins before false claims of cryptocurrency restriction were announced (the article linked is factually incorrect). A recent South Korean online petition asked the government to not restrict crypto trading (although the petition was fine with limited regulations) because the digital asset and its trading has become a "happy dream." The petition garnered over 200,000 signatures, which required a response from the government. The South Korean Fair Trade Commission replied that they have no legal authority to close the exchanges, as it's "impossible in reality" due to the fact that no existing legislation that would cover this kind of circumstance exists. That's a big win, in our books.
While governments around the world apparently can't make up their mind when it comes to crypto, it seems the people have spoken. 7% of Indians say they own either Bitcoin or an altcoin, and 68% of respondents think that most people will be using crypto in the next decade. This seems like a pretty realistic reality for the Asian country, where the government has been working on a centralized form of the blockchain and is heavily favored as one of the first countries to introduce a cashless society. In late 2016, the Indian Prime Minister discontinued all 500- and 1,000-rupee notes (valued at $7 and $14, respectively).
Ledger, the hardware wallet maker, raised $75 million in their Series B funding. You may not believe in crypto but boy is there a market for cold storage.
Belarus' president signed a decree that legalizes all cryptocurrencies, initial coin offerings, and smart contracts starting in March.
DASH donated $350k to Arizona State University to fund blockchain research, improve cryptocurrency issues, and develop the token. Go Sun Devils!
Coin to Watch
Nothing like a mixed market to make the game interesting. I spy with my little eye, Kin (KIN), which was having a tremendously rough day yesterday, but is making a comeback.
Did you catch our feature article last night?
CryptoMania chatted with two team members of Vaultbank: one of the most promising ICOs of 2018 that looks to bring old-school finance together with cryptocurrency’s groundbreaking technology. Christopher Cummock and Eric Clarke spoke to us about convincing some of the finance world’s most influential business people to hop on board and creating a product that makes sense for both merchants and consumers.
Spend your crypto on...
— David Gokhshtein (@davidgokhshtein) January 19, 2018