onyeolu123's blog

Investment Analyst Pegs Bitcoin Price to Hit $3,678 If SEC Approves ETF

Emerita Capital, a provider of quantitative analysis for investment assets, believes bitcoin price could hit $3,678 if the Securities and Exchange Commission (SEC) approves the Winklevoss ETF on March 11.

The company, writing in Seeking Alpha, recommends portfolios hold between 0.2% and 5.0% in bitcoin. It recommends purchasing bitcoin on an OTC spot exchange.

India’s Currency Ban Could Increase Bitcoin Demand

India’s new PM, targeting people who skirt taxes, outlawed 500 and 1,000 rupee bills – a staple in ATMs in the country. He did it in what’s being called a “shock and awe” manner so that black market savers didn’t have enough money to figure something out to do about it

People have stood in line at banks to receive new currency and ATMs, no longer stocked with the larger denominations, are running out of money. The moves will likely lead to an increase in demand for Bitcoin in India.

Bitcoin jumps above $1,000 for first time in three years

Digital currency bitcoin kicked off the new year by jumping above $1,000 for the first time in three years late on Sunday, having outperformed all central-bank-issued currencies with a 125 percent climb in 2016.

Bitcoin - a web-based "cryptocurrency" that has no central authority, relying instead on thousands of computers across the world that validate transactions and add new bitcoins to the system - jumped 2.5 percent to $1,022 on the Europe-based Bitstamp exchange, its highest since December 2013.