Cryptocurrencies latest news and history organized by date that contains 1000000+ news archives. Click here to read what world was saying about cryptocurrencies. Rand strength prevalent across USD, GBP and EUR pairs but how far can risk on sentiment carry the ZAR? Matt’s Ultimate Crypto portfolio is surging … the crypto world is maturing … how altcoins offer a portfolio both offense and defense … the attractive risk-reward set-up Cryptocurrencies latest news and history organized by date that contains 1000000+ news archives. Click here to read what world was saying about cryptocurrencies.
- Binance.US Launches Services in Florida
- XRP Holders Start Claiming Spark Token via Airdrop and Ledger Wallets
- Huawei Helps Beijing Build Blockchain Platform to Track People’s Data for Governance
- Market Analysis Report (25 Aug 2020)
- Aave Becomes Second DeFi Project to Overtake MakerDAO for Most Crypto Deposited
- Top Analyst Says XRP Preparing for ‘Massive Move’ As Bitcoin Begins Grind to $14,000
- Ethereum’s on-chain data suggests the worst is to come after 10% correction
- China quells rumors of real estate purchases with digital yuan
- Bitcoin as a reserve asset: Canadian software firm, Snappa joins MicroStrategy in holding crypto reserve
- Australian Conman Extradited Over Alleged Fraud Involving $1.2M in Bitcoin
- Cardano (ADA) Price Analysis: Risk of Larger Breakdown Below $0.12
- Akon to Head Strategy for Brock Pierce’s Presidential Campaign
- Bitcoin HODLing Behavior Hits 3-Year High; Another Bullish Sign
- Brazil’s central bank forms working group to study digital currencies
- Bitmain inks $18M Bitcoin mining rig sale with Riot Blockchain
- The UK financial regulator adds Gemini and Archax in the list of registered exchanges.
- Bitcoin accumulation alert, here’s what to expect
- ChainLink (LINK) Launches Hackathon with $40k in Prizes
- Bitcoin Cash Companies Are Taking Sides; Mining Tax Will Die On Arrival
- Top Analyst Predicts Bitcoin Price Action Beyond $12K If This Support Level Holds
- Bitcoin is on target to hit $288K as US money velocity collapses in Q2
- Crypto Exchange Bitstamp Reportedly Leaving London Amidst Brexit Concerns
- Dr. Daniel Diemers joins FiCAS Board of Directors following Industry-First ETP Launch
- Bitcoin and Crypto Market Analysis For The Week Gone By
- Waves Tech Partners with Fetch.ai to Boost AI Services
- The central bank of Brazil sets up a working group to study digital currencies.
- 51nodes develops financing method for industrial capital goods on a blockchain basis
- UK Watchdog Eyes Extension of Money Laundering Risk Reporting to Crypto Firms
- Last Week’s Bitcoin, Crypto Market Roundup and What Lies in the Week Ahead
- Barstool Sports Founder Dave Portnoy Wants to Buy Chainlink (LINK) Again
- Satoshi Nakaboto: ‘Ryanair CEO believes Bitcoin is a ponzi scheme’
- 98% Of Trading Volume On Popular Crypto Exchanges Highly Suspected Of Wash Trading- New Research
- Voyager Digital CEO on Building the Crypto Industry in a Post-COVID World
- DeFi project Bella Protocol raises $4 million in seed funding
- BTC Bandwagon: 2 Canadian Firms are Now ‘Holding Bitcoin as a Reserve Asset’
- Apple and Airlines Stocks Pushes S&P 500 and Nasdaq Composite to New Highs
- JustSwap Launches Successfully as TRON’s DeFi Ecosystem Gathers Steam
- UK FCA wants to include crypto firms in financial crime reporting rules
- Litecoin price returns to $60, bears ahead?
- DeFi Startup Aave (LEND) Takes a Giant Step Toward Mainstream Adoption
- Different Ways to Earn Bitcoins (BTC)
- Ripple faces lawsuit over ‘PayID’ trademark in Australia
- 3 Australian Businesses Tap Chainalysis to Monitor Risky Cryptocurrency Activity
- Ethereum May Still Confirm a Pattern That Would Imply a Breakdown to $320
- Expect volatility: Bitcoin futures open interest surges to new all-time high
- Chainlink, Cosmos, BAT Price Analysis: 25 August
- Power Ledger launches renewable energy credit marketplace in SE Asia
- ФРС США приступила к этапу выбора публичного блокчейна для цифрового доллара
- Цифpoвoй юaнь тecтиpуeтcя в poзничныx oпepaцияx
- В Совбезе предупредили об угрозах применения новых технологий. В том числе криптовалют
- В Венесуэле заблокировали поддерживаемую Coinbase биткоин-биржу из-за связи с оппозицией
- Рэпер Эйкон стал главным стратегом президентской кампании Брока Пирса
- Данные тысячи биткоин-трейдеров выложили в даркнет
- ЦБ Бразилии изучит возможность выпуска собственной цифровой валюты
- Канадская компания перевела денежные резервы в биткоин
- FTX запустила бессрочный контракт на топ-100 пулов ликвидности на Uniswap
- Aave получил финансовую лицензию в Великобритании
- XRP Fiyatını Harekete Geçirecek Gelişme Görüldü!
- Işıklar Coin Ana Borsası CoinTiger, ISIKC’nin Talebiyle Türkçe Dil Desteği Ekledi
- DENT Coin Nedir?
- Ransomware Hackers Using Binance to Exchange BTC for Cash: Report
- Aave takes number one slot in total value locked, beats MakerDAO
- Bitcoin Cash price touches $294, what’s next?
- Crypto exchange Binance can now provide its services in Florida.
- China’s consortium chains may not be trusted internationally, says Vitalik Buterin
- Hackers Congress Paralelní Polis (HCPP20) Launches HCPP TV and Announces New Additions to Speaker Lineup
- Epic Games Rival Unity Software Files for IPO on NYSE
- Apple (AAPL) Shares Price Over $500 Ahead of 4-for-1 Stock Split
- Who Wants to Feel Like Billionaire: Citi and Bank of America Can Help You
- China’s Communist Party eyes blockchain for ‘decentralizing’ social services
- Bitcoin miners in China lose access to cheap electricity
- Binance, Huobi, OKEx Announce Support for QTUM Offline Staking to Further DeFi Involvement in Asia
- Ethereum’s Failure to Break $400 Might Soon Send ETH to $370 (Price Analysis)
- Blockchain Project Qtum Moves to Boost Network Participation With Offline Staking
- Ethereum gas price dropped 80% and it’s still expensive
- Asana Files for Direct Listing, It Is to Join New York Stock Exchange
- Rushed upgrade made 12% of Ethereum clients unusable
- Southampton FC Pen Partnership and Sponsorship Deal with Sportsbet.io
- P2P Cryptocurrency Exchanges in Africa Pivot: Nigeria and Kenya the Target Markets
- Powell’s Coming Inflation Speech May Weigh Over Dollar and Boost Bitcoin: Analysts
- EOS price returns to $3.3, move to $5 ahead?
- FTX crypto exchange acquires Blockfolio for $150 million, set to create ‘New trading experience’
- Binance To Launch A DeFi Hackathon In India
- Book review of Don Tapscott’s collaborative ‘Supply Chain Revolution’
- DigiByte Drops Below $0.030 but Holds Complete Support
- First Mover: Ether Price Swings Make Bitcoin Look Tame as DeFi Speculation Spreads
- ConsenSys Acquires JP Morgan’s Quorum Blockchain
- Polkadot’s Valuation Overtakes Ghost Chains EOS, Cardano in Just Six Days
- Tesla (TSLA) Stock Down 1.35% in Pre-market after Showing Strong Bullish Runs
- Increase Your Profit Potential With Margin Trading
- DeFi mania continues as crypto exchange FTX launches “Uniswap Index”
- Bitcoin Trader’s Playbook for Finding Top Altcoins Goes Viral
- BitGo Applies to Be Regulated Custodian in New York State
- Iran Shuts Down 1,100 Illegal Cryptocurrency Mining Farms
- Best Buy (BBY) Stock Recorded New Milestone but Is Down 6% Now, Earnings to Drive Future Growth
- Blockchain tech’s multipurpose role in driving global advancement
- Another Bitcoin Lightning Startup Is Working With Visa to ‘Fast Track’ Card Payments
- ConsensSys Acquires JPMorgan’s Blockchain Platform Quorum
- Global banks lost trillions of dollars in stock value in 2020
- What Bitcoin Holders Should Expect from Fed Chairman Jerome Powell’s Speech This Week
- Binance Exchange to List Paxos’ Gold-Backed Cryptocurrency
- ConsenSys confirms acquisition of JPMorgan’s Quorum, strategic investment from Wall Street megabank
- BitGo applies to become a regulated crypto custodian in New York
- Turkey and Greece “Playing with Fire” Says Germany
- Bitcoin’s Volatility Could Spike as 62k BTC Options Expire Friday
- Bitcoin Cash, Zcash, Dogecoin Price Analysis: 25 August
- North Korean Hacker Group Targeted Crypto Firm Using LinkedIn Ad: Cybersecurity Report
- Ethereum Tokens Worth $1B Vulnerable to ‘Fake Deposit Attack’
- The Aave protocol beats Maker and Compound to become #1 in DeFi rankings
- Bitcoin [BTC] and Gold Drop with Positive Tidings in Global Trade
- ConsenSys acquires JP Morgan’s blockchain platform Quorum
- Fujian Initiates the Construction of A BSN-based Blockchain Backbone Network In the Southeast Region of China
- Lidar Startup Luminar Going Public through Reverse Merger
- Bitcoin: how to play the long game?
- Ripple Files Trademark for Mysterious ‘Ripplex’ and ‘Ripple Impact’
- Shares of Airlines and Cruise Operators Jumped amid Positive COVID-19 News
- DeFi project Perpetual Protocol raises $1.8 million in funding round led by Multicoin Capital
- FTX Launches A Top 100 Uniswap Index Futures As DeFi Demand Grows
- Starbucks to let customers trace their coffee’s provenance from bean to brew
- ChainLink’s Price is Corellated with ETH Gas Cost – Crypto Analyst
- Bitcoin’s Mining Difficulty Hits New All-Time High as BTC’s Price Remains Above $11,000
- What death spiral? Bitcoin mining difficulty rises by 9% since halving
- Traders Eye NASDAQ and S&P 500 Correlations Before Bitcoin’s Next Move: Crypto Roundup
- Analysts Predict US Presidential Election Outcome Could Collapse Dollar, Boost Bitcoin and Gold
- Blockchain Bites: Bitcoin’s ‘Rich List,’ Ethereum’s Volatility, DeFi’s Shakeup
- An overview of NEAR protocol’s Ethereum bridge
- 10,000 Bitcoin Longs Close
- Akoin co-founder Lynn Liss on building the financial tools for Africa to become a crypto powerhouse
- Litecoin short-term Price Analysis: 25 August
- Bitcoin News Roundup for Aug. 25, 2020
- Daily Lost Bitcoins Are Creating Scarcity That Will Eventually Boost Its Valuation, Says Bitcoin.org Co-Owner
- Tether Flips Bitcoin [BTC] as the Medium of Transfer with a Capital Flight to Stablecoins
- IMF Makes Bold Case for Bitcoin and Cryptocurrency As ‘Evolution of Money’
- DeFi giant Aave (LEND) rallies 40% after receiving UK FCA approval
- Bitcoin Price Lost $1200 In a Week: Is The $10,500 Target Incoming?
- Lazarus is attacking the crypto industry via LinkedIn, warns F-Secure
- Aave Nears $1 Billion in Market Cap
- Decentralized exchange dYdX launches LINK perpetual contracts
- ConsenSys acquires Quorum from JPMorgan
- Celo Foundation is giving $1 million to blockchain companies
- Bitcoiner Brock Pierce Chooses Akon to Run His Presidential Campaign
- Ethereum long-term Price Analysis: 25 August
- Wave of Bitcoin-Seeking Bomb Threats Sparks Probe By Austrian Police
- Lazarus hacking group is using LinkedIn ads to target victims
- Telegram Halts Trademark Battle After Ending Crypto Project
- Bitcoin’s price stays above $10,000 for second-longest run ever
- John McAfee Clarifies He Is Still Part of Ghost’s Ecosystem
- UK’s FCA Might Extend AML Regulations to Cryptocurrency Companies
- Australian exchanges delist privacy coins amid Chainalysis integration
- Cardano, Stellar, Ethereum Classic Price Analysis: 25 August
- China’s Ant Group: the Biggest IPO on Earth
- BTC to end 2020 in style: 3 key factors predict Bitcoin price surge
- Amgen, Salesforce and Honeywell to Join Dow Jones in Major Shakedown
- How State Channels aims to make torrenting cool again
- Blank-Check Company Backed by Paul Ryan Files for $300 Million IPO
- Waterloo residents have lost $430k to crypto scams this year
- Brazilian Lawmaker Proposes Crypto Regulations for a Country Devoid of Any
- Riot Blockchain Buys 8,000 of Bitmain’s Latest Bitcoin Miners, Company Targets 1.5 EH/s by 2021
- North Korean Hacking Group Uses LinkedIn to Target Cryptocurrency Firm
- Decentralized VPN Tachyon Hits 1 Million Mark
- Bitcoin Backer Jameson Lopp Defends Support of INX Token IPO
- BitGo Weighs Building a Sidechain for WBTC as Ethereum Fees Climb
- Ransomware Funds Are Moving In and Out of Binance
- Bitcoin correlation tells this story about volatility in the market
- An Unintended Consequence of Low Interest Rates? The Big Get Bigger
- Bitcoin price falls to $11300, what to expect?
- IRS Sends Warning Letters to Suspected Crypto Tax Evaders
- A Blockchain company in Seoul may be ground zero for a fresh resurgence of COVID-19
- Bitcoin CME Shorts At All-Time High: Institutional Investors Know Something Or Short Squeeze Coming?
- Market Wrap: Bitcoin Dips to $11.1K; Ether Mining Difficulty at Year High
- Central bank digital currencies will ‘complement’ cash: BIS study
- Forthcoming Yield Farming Project Dispenses With Governance
- Barstool Sports’ Dave Portnoy Offers to ‘Save Bitcoin’
- Polkadot’s DOT Token Enters Top 10 Cryptocurrencies by Market Cap
- Coinbase Taps Marcus Hughes as New Eurozone Chief
- Aave DeFi Protocol Joins Growing List Of Crypto Startups Authorized Under New FCA Law
- Binance Coin, VeChain, Monero Price Analysis: 25 August
- Bitcoin in Limbo Until Thursday’s Inflation-Focused Speech by Fed Chair Powell
- Top ERC-20 Token Holders Are Moving Assets Off Exchanges- Here’s Why
- Bitcoin ‘maximalists’ accused of ‘shilling’ an SEC-cleared token
- Jack Ma’s Ant Group Files for Big Dual IPO in Hong Kong and Shanghai
- HashCash to supply UAE crypto exchange with trading infrastructure
- Australian Conman Peter Foster Arrested For Bitcoin Fraud
- The IRS has sent another round of letters warning U.S. crypto holders about their taxes
- Cardano, Tezos Flash Buy Signals Despite Crypto Market Correction
- MetaMask taps new software license to boost commerciality
- Coinbase appoints new general manager to oversee Europe operations
- When Will Bitcoin Strike the $12,000 Mark Again?
- How cryptocurrency fuels protests and anti-government movements
- Full-page Bitcoin ad graces the front page of massive Hong Kong paper
- IRS, Ignoring Its Own Watchdog, Sends Letters About Crypto Taxes Once Again
- Chainlink Oracles to Power dYdX LINK/USD Perpetual Contracts
- Asset Giant Fidelity Analyzes Model That Forecasts Bitcoin Rise to $1,000,000
- Bitcoin price drop below key support may trigger CME gap fill at $9.7K
- Cloudy with a Chance of RIBs, Part 2
- Crypto exchange FTX buys Blockfolio for $150 million
- $150 million deal: FTX acquires Blockfolio in bid to expand retail footprint
- FTX Exchange’s $150M Deal for Mobile-First Blockfolio Is a Retail Trading Play
- FTX Crypto Exchange Buys Popular Blockfolio App for $150 Million
- Aave Protocol Outpaces Maker With $1.4B Locked, Defi Project Granted UK Electronic Money License
- Crypto Exchange Coincheck to Launch Japan’s First IEO
- Bitcoin exchanges might soon share money laundering data in the UK
- Record high Bitcoin whale population is bullish for BTC price — Analyst
- Bitcoin Technical Analysis: BTC/USD Plummets To $11,100, Is This The End Of The Rally?
- Tezos improves DeFi infrastructure with Harbinger price oracles
- DLT tracking partnership to fight fake diamonds in China
- Wirecard scandal fallout sees 50% of German staff laid off
- Interview: Inside Look at FTX’s $150M Blockfolio Acquisition
- Developers Plan to Compete in Bitcoin Cash-Fueled Hackathon ‘BCH Devcon III’
- Bitcoin mining reaches its largest difficulty ever, here’s what it means
- Exxon to Exit Dow Jones Industrial Average After More Than a Century
- Tether tops Paypal and Bitcoin for average daily transfer value
- Chainlink Technical Analysis: LINK/USD Bullish Pennant Pattern Breakout Eyes $20
- Aspen launches on tZERO amid record security token volume
- Ripple faces lawsuit in Australia over ‘PayID’ branding
- Hyperinflation and Currency Collapse Fears After Zambian President Fires Central Bank Governor
- Telegram drops lawsuit over ‘GRAM’ trademark, but must cover legal fees
- US Crypto Users Receive Fresh IRS Notices
- Market Watch: Polkadot (DOT) Enters Top 7 After 80% Explosion, Bitcoin’s Bottom In?
- New Payments Platform Australia accuses Ripple of intellectual property infringement.
- В Иране закрыли свыше 1000 нелегальных майнинг-ферм
- ЦБ Бразилии изучит последствия выпуска своей цифровой валюты
- 6 Defi Tokens Priced Over $11000, Are these Defi Tokens Bitcoin Competitors?
- Die Or Shine? Find The EOS Price Prediction 2020
- Top 4 Crypto Podcasts You Should be Listening to in 2020
- Top Crypto Gainers of 25th August: LEND, SNX, DGB
- Число адресов с более чем 1000 BTC обновило исторический максимум
- Telegram отозвал иск о товарном знаке Gram и согласился покрыть судебные издержки
- Австрийские компании получили письма о минировании. Вымогают биткоины
- Майнерам биткоина в китайской Внутренней Монголии на 30% поднимут цену на электроэнергию
- Трейдер указал на высокую вероятность среднесрочного снижения цены биткоина
- В СМИ заявили о покупке Blockfolio биржей FTX, но затем удалили сообщение (обновлено)
- ConsenSys приобрела блокчейн-платформу финансового гиганта JPMorgan
- Власти Ирана отключили 1100 нелегальных биткоин-ферм
- Binance добавит поддержку Pax Gold
- Американскую майнинговую компанию Layer1 уличили в обмане инвесторов
- Крупный даркнет-рынок ушел в офлайн. Точную причину до сих пор не установили
- СМИ: Китай использует цифровой юань на зимних Олимпийских играх в 2022 году
- Ontology Coin Nasıl Satın Alınır?
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- NEM Coin Nasıl Alınır?
- Ripple’ın (XRP) Beyaz Saray’da Ne İşi Var?
SA Rand Price Action Setups: USD/ZAR, GBP/ZAR and EUR/ZAR
- South African Rand continues to show strength with several macroeconomic tail winds in support
- USD/ZAR approaches 200-day Moving Average (MA) after breaking below 17.0000
- Possible bullish cross looming for GBP/ZAR
- EUR/ZAR trading at monthly lows
- South African inflationary data around the corner
- Global markets to keep a close eye on upcoming Jackson Hole Symposium
Recent resilience show by the South African Rand (ZAR) has continued spurred on by the passing of a COVID-19 drug by the US regulators. Risk seeking investors cheered as Emerging Market (EM) currencies saw large favorable swings.
With the South African government recently easing lockdown restrictions despite ballooning virus figures, the economy needed assistance sooner rather than later. Being a developing nation, South Africa may not rebound to pre-pandemic levels as easily as more developed nations around the world. Although stimulus measures are in place, corruption and political instability still plagues the lives of ordinary citizens.
The strong Rand has not done exporters any favors which is not ideal for economic growth. With the manufacturing sector operating at depressed levels, the support of local industries has been hit hard.
Moving deeper into Q3, ZAR price action seems to be the result of by external global factors – primarily the US Dollar puppeteer. The US is under the spotlight on various fronts such as US elections, Jackson Hole Symposium and US-China tensions. These events can have widespread ramifications for global currencies. ZAR bulls are enjoying the current risk on sentiment but for how long?
Visit the DailyFX Educational Center to discover more on why news events are essential to FX fundamental analysis
USD/ZAR: Daily Chart
Chart prepared by Warren Venketas, IG
With seven straight days of bearish candles on USD/ZAR, price has managed to break below the 17.0000 psychological level with some conviction. Support targets mentioned in my previous USD/ZAR analysis article has since been met and surpassed. The 200-day Moving Average (MA) (yellow) may provide the next level of support before 16.5000 is targeted. Price is currently trading above the 200-day Moving Average (MA) which suggests the longer term trend is still bullish so a break below will be significant as it may point toward a shift in long term momentum.
Traders looking for a near term reversal may look at a potential bounce off the 200-day MA which could coincide with oversold territory on the Relative Strength Index (RSI) highlighted in blue.
GBP/ZAR: Daily Chart
Chart prepared by Warren Venketas, IG
The 22.0903 (23.6% Fibonacci level) on GBP/ZAR is proving to be an area of support which bulls are defending as evident by the today’s lower wick. Highlighted in yellow reflects the potential for a bullish cross with the 50-day MA (black) crossing above the 100-day MA (red) in the next few days. Technical analysts see this as an indication of upward momentum.
Keep up to date with your indicators via our Technical Indicator Toolbox
If short-term price movement does reverse to the upside, traders will look for resistance at the upper diagonal trendline (blue) making up the medium term triangle formation. Alternatively, further downward pressure may see a break below the 22.0000 and subsequently the 50-day and 100-day MA lines.
EUR/ZAR: Daily Chart
Chart prepared by Warren Venketas, IG
Like the USD/ZAR, EUR/ZAR has pushed below a key horizontal level if 20.0000 which overlapped with the 61.8% Fibonacci level. The sharp downturn exhibits strong downward momentum which may continue toward the 19.7428 (50% Fibonacci level). A strong reversal to the upside is unlikely in the short-term so traders looking for long positions should remain cautious.
DailyFX Economic Calendar
South African inflationary figures for July are due to release on Wednesday and Thursday this week at 10:00 GMT+2 and 11:30 GMT+2 respectively (see economic calendar above). Forecasted figures are expectedly higher due lesser lockdown restrictions. ZAR traders will need to monitor the data releases for any major deviation from forecasts which could impact ZAR price action.
This Thursday and Friday sees the much awaited Jackson Hole Symposium which brings together economists, media, financial market contributors and US government officials to converse on longer-term policy issues. This ‘discussion’ may not seem like something to keep an eye on but past symposiums have resulted in major applied policies.
With interest rates being the center of attention the world over, consideration will most likely be given to the low interest rate environment along with stubborn inflation rates which remain muted. Any changes in current interest rate and inflationary outlook may have systemic effects across financial markets including ZAR crosses so it would be prudent to regularly monitor discussions.
The Rand remains in a strong position but upcoming economic data and US influences may provide a catalyst to further downside or the potential for a reversal across majors if risk aversion sets in. Looking at the next few months, US elections are expected to bring with it an increase in volatility which could see investors seek safe-haven currencies which could put a damper on ZAR gains. Key trading points to consider:
- Technical analysis – USD/ZAR: 200-day MA; GBP/ZAR: MA crossover; EUR/ZAR: 19.7428 Fibonacci level
- Local CPI and PPI data
- Jackson Hole Symposium
— Written by Warren Venketas for DailyFX.com
Contact and follow Warren on Twitter: @WVenketas
Author: Warren Venketas
Small Risk, Huge Reward
Matt’s Ultimate Crypto portfolio is surging … the crypto world is maturing … how altcoins offer a portfolio both offense and defense … the attractive risk-reward set-up
Numbers don’t lie.
Given this, let’s look at the numbers in Matt McCall’s Ultimate Crypto portfolio (names of recommendations omitted).
Below, look at the “buy date” column on the far left, relative to the “current return” column on the far.
(Note: the return of 630.69%, and the two returns of 551.67% all relate to one altcoin. They represent Matt’s recommendation to sell a 1/3 portion of the position, the official confirmation of that gain, and the remaining open-gain of the 2/3rds position.)
On the whole, Matt’s Ultimate Crypto portfolio (which launched in January) is up an average of 206.49%, with zero positions in the red.
That’s gains of 200+% in less than 8 months!
In today’s Digest, let’s talk about why the crypto world is surging — and more importantly, why it’s not too late to be a part of it.
For any newer Digest readers, let’s make sure we’re all on the same page.
Altcoins are simply “alternative” cryptocurrencies beyond the granddaddy cryptocurrency, bitcoin.
There are hundreds of different altcoins with various degrees of individualization and value (or lack thereof) — it’s truly a fascinating ecosystem.
They can be gimmicky “me too” products which are just trying to capitalize on investor interest in the space, or they can provide a unique twist on the crypto/blockchain/financial world that makes them truly unique and valuable.
Matt distinguishes between these two groups thanks to a proprietary selection process called the MAG System. It involves weighting various crypto criteria to arrive at a composite score that indicates whether any particular altcoin is a “buy” or not.
While Matt is bullish on bitcoin, his Ultimate Crypto portfolio only contains elite altcoins. That’s because he believes they have the ability to grow your money much more, and much faster, than bitcoin.
At the same time, their growth is interconnected with that of bitcoin. That’s because bitcoin is doing the hard work of paving the way toward mass crypto adoption. You see, as more and more people invest in bitcoin and even use it in transactions, it sets the stage for explosive gains from the smaller altcoins that follow.
Here’s how Matt recently put it in an update to subscribers:
As demand for cryptocurrencies grows, we’re seeing a lot more mainstream adoption.
PayPal (PYPL) and its Venmo division plan to allow users to buy and sell cryptos directly from both websites.
Their competitor, Square’s (SQ) Cash App, is now getting much of its revenue from bitcoin trading.
The “big money” is noticing, and institutional-level investors are also jumping aboard.
Famous hedge fund billionaire Paul Tudor Jones announced in May that he was investing nearly 2% of his assets (about $106 million at the time) in bitcoin.
While growing crypto adoption is interesting, what’s the actual case for investing in altcoins?
Altcoins offer investors two primary benefits today — defense (wealth preservation) and offense (wealth acceleration).
Let’s look at each …
Beginning with “defense,” here’s Matt:
When Jones made his investment in bitcoin, he said we could be witnessing the “birthing of a store of value.” He further argued against parking money in U.S. dollars or traditional currencies because modern governments tend to debase their value by spending more than they bring in.
I couldn’t agree more. So does Michael Saylor, CEO of business analytics software company MicroStrategy (MSTR). Just this week, Saylor announced his company would allocate all $250 million of its funds that are currently set aside to hedge against inflation into bitcoin.
“This investment reflects our belief that bitcoin, as the world’s most widely adopted cryptocurrency, is a dependable store of value and an attractive investment asset with more long-term appreciation potential than holding cash,” Saylor said.
In Matt’s update, he went on to note how the U.S. government has already spent an incredible $3 trillion in economic relief related to COVID-19. And Congress members are currently debating whether to add as much as another $1 trillion for another round of stimulus.
As to how this impacts your wealth, Matt points toward the purchasing power of the consumer dollar in the U.S., as tracked by the Bureau of Labor Statistics.
It hit an all-time low of 38.6 in July.
Back to Matt:
Please don’t overlook the importance of this.
Inflation is one of the greatest dangers facing those of us saving for retirement. It can massively impair the future buying power of the money you save today …
As government spending continues to grow and the threat of inflation climbs along with it, so does the allure of today’s cryptocurrencies.
Simply put, digital currencies — like bitcoin and other select altcoins — cannot be debased through inflation.
We could ask this a different way …
Looking back to how this Digest began — namely the huge gains in Matt’s altcoin portfolio in a short timeframe — what’s behind that? What’s the actual reason for the firepower behind many of these specific altcoins?
Most people don’t really understand what an altcoin is — does it actually do anything? Is there any real value to them?
Without good answers to these questions, most altcoin investments boil down to a gamble. You just pick one and hope that it will climb for, well, some reason.
Let’s clarify the value behind elite altcoins.
Here’s Matt to describe one commonality between many of them:
Some of the most lucrative software companies on the market right now are working to cut out the middleman. Many of these are altcoins.
That surprises a lot of folks, but it’s often easier to think of altcoins as just really, really, really valuable software … some of the most valuable software programs ever created.
I describe them as the oil of the 21st century, as they’re about to mint another generation of millionaires — in short order.
The tsunami of wealth that’s coming with altcoins and the blockchain technology backing them up is due to their ability to make our time vastly more efficient and productive …
Investing in altcoins is just like backing Microsoft (MSFT) in the early days. Or like backing Google (GOOGL) or Uber (UBER) or Oracle (ORCL) in the early days.
Software companies have provided enormous wealth for investors from the ’90s through today because of their ability to save us time and headaches.
So, what we find with the quality altcoins is that they serve an actual purpose. It’s not just a buy-and-hope strategy.
If you look at many of the world’s most successful investors and how they make their enormous wealth, you’ll find a commonality …
They’re masters at understanding the interplay between risk and reward.
The typical investor doesn’t really think this way. Instead, he or she finds a stock they like, invests, then hopes for the best.
Not the pros.
They pick their shots. They wait for a set-up that offers vastly more payoff if they’re right, relative to the amount of loss they’d incur if they’re wrong.
Today, elite altcoins are offering one of the most compelling risk-to-reward setups you’ll find in the market.
To illustrate, we can look back to actual returns from some of these altcoins during prior boom-periods.
Here’s Matt from back at the beginning of the year:
… over the same timeframe it took bitcoin to rise 2,000% … a cryptocurrency called litecoin (LTC) rose 7,483%.
Another altcoin called dash shot up 2,658% during the first half of 2014 while bitcoin rose 53% over the same period.
In this risk-reward setup, you don’t have to invest large sums of money in order to make large sums of money — and you shouldn’t.
In recent years, we’ve seen altcoins both boom and bust. Given this, wise investors won’t allocate an aggressive percentage of their portfolio into crypto. But as we just noted, they don’t need to.
Consider a $500 investment in the example of Litecoin that Matt gave above.
At a 7,483% growth rate, every $500 you invested would have grown into $37,915.
On a relative scale, that’s tiny risk, massive reward.
As we look forward today, the threat of currency debasement still looms large. Meanwhile, the promise of economic efficiencies from certain altcoins carries huge investment potential.
Offense and defense.
Small risk, big reward.
If you’d like Matt’s help finding such opportunities in altcoins, click here.
Here he is with the final word:
… if you think you’re too late to the party, think again. We’re nowhere near the end of such explosive profits …
As big as the gains have been so far, I expect much more to come. You don’t want to miss out on crypto’s powerful surge.
Have a good evening,
Jeff Remsburg, Contributing Editor
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