Daily Archives: December 12, 2017

Cryptocurrency

Investors Look for Other Cryptocurrency Opportunities

Litecoin prices skyrocketed 30% as investors look for new opportunities in the cryptocurrency market.

The crypto community is still debating how the trading of Bitcoin futures will affect prices, and newer crypto investors don’t like the idea of paying more than $16,000 to own one coin. The Litecoin Foundation is also making a marketing push to bring more awareness to the “silver” to Bitcoin’s “gold.”

Litecoin pricesSpeaking of Bitcoin futures, the Chicago Board of Exchange (CBOE) introduced Bitcoin futures last night (Dec. 10, 2017) under the ticker XBT.

At around 8 p.m. EST on Sunday, a two-minute halt occurred after Bitcoin futures prices rallied more than 10%. Another five-minute halt came after prices added another 20% around 10 p.m. EST.

The price topped $16,750 around the same time that noted economist and hedge fund manager Nassim Taleb suggested that Bitcoin could hit $100,000.

He also said that it will be nearly impossible for investors to time their shorts of the cryptocurrency. Taleb is perhaps best known for his research on “black swan” events and for predicting the 2008 financial crisis.

“No, there is NO way to properly short the Bitcoin ‘bubble,'” he said on Twitter Inc. (NYSE: TWTR) before CBOE launched Bitcoin futures trading.

“Any strategy that doesn’t entail options is non-ergodic (subjected to blowup). Just as one couldn’t rule out 5K, then 10K, one can’t rule out 100K,” he said.

Below is a recap of the top cryptocurrency prices at 10:00 a.m. EST.

  • Bitcoin: $16,573.40, +8.73%
  • Ethereum: $475.57, +5.67%
  • Bitcoin Cash: $1,380.28, +2.78%
  • IOTA: $4.18, -3.71%
  • Ripple: $0.248, +3.95%
  • Litecoin: $186.87, +30.43%

Now that we know all of today’s price movements, here’s what has been moving these cryptocurrencies…

Cryptocurrency Markets Today

On Monday, the market capitalization of the global cryptocurrency sector hit $443.48 billion. Bitcoin now comprises 63.2% of the global cryptocurrency market. Just nine of the top 100 cryptocurrencies were in the red this morning thanks to the huge surge of investments flowing into the sector.

Top performers from the largest 50 cryptocurrencies by market capitalization included Santiment Network (up 43.03%), Waves (up 31.65%), TRON (up 28.90%), Nxt (up 26.94%), Ardor (up 23.62%), MonaCoin (up 22.26%), and Basic Attention (up 21.41%).

Some of the worst performers from the top 50 largest cryptocurrencies by market capitalization included Einsteinium (down -5.78%), QASH (down -2.97%), and Tether (down -0.34%).

Bloomberg Questions the Authenticity of Bitcoin

Over the weekend, Bloomberg released a controversial report that raises questions about the safety, security, and authenticity of the Bitcoin market.

According to the report, 1,000 people own roughly 40% of the entire Bitcoin market. This means that just 1,000 people are controlling $112.74 billion of the Bitcoin space, and each person’s average Bitcoin net worth is $112.74 million.

Must Read: 3 Bold Bitcoin Price Predictions for 2018 and Beyond

This has raised concerns that these so-called “Bitcoin whales” have more power to float or sink the market and potentially manipulate it through collusion in the future.

Will Bitcoin Futures Revive ETF Talk?

In early 2017, the U.S. Securities & Exchange Commission (SEC) denied two attempts to create an exchange-traded fund (ETF) around Bitcoin.

Following the introduction of Bitcoin futures trading, CBOE’s CEO, Edward Tilly, said that his organization’s leap into cryptocurrency contracts will likely fuel reconsideration for ETFs.

“All of that information goes into building the next steps,” Tilly said in an interview with CoinDesk.com.

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Source: Money Morning

Growth Stocks

Gun Manufacturers Love Democrats

Gun stocks like Smith & Wesson and Sturm Ruger & Co. saw huge gains as they turned unexpectedly high profits quarter after quarter with a Democrat in power.

As we all know, gun control has been a hot topic in politics, particularly during the last two to three years. And the fear of restrictions on guns has been very profitable for gun manufacturers – and great for gun stocks.

For a lot of gun buyers, it was a means of stashing something so nobody could prevent them from buying it. As a result, gun stocks like Smith & Wesson (now American Outdoor Brands Corp. [Nasdaq: AOBC]) and Sturm Ruger & Co. Inc. (NYSE: RGR) saw huge gains as they turned unexpectedly high profits quarter after quarter.

But now, with a Republican in office, those worries of having guns taken away seem to be fading. Not completely, as there are still relatively high numbers of background checks coming though, but the number has fallen short each month of the peak that it reached in 2016.

As a result, gun stocks that led the market last year have, for the most part, collapsed.

Gun stocks like Smith & Wesson and Sturm Ruger & Co. saw huge gains as they turned unexpectedly high profits quarter after quarter with a Democrat in power.

All of the stocks in the chart above move with the gun sales market. With the numbers on the right side representing the percent return for the past year, you can see that the returns have been awful, especially when you compare them to the S&P 500, which is up 18%over that same time period.

In short, the recent trend is that gun sales, and therefore the prices of gun stocks, tend to increase when a Democrat is in office. This was pronounced with Presidents Bill Clinton and Barack Obama. And now, there are investments you can make that are based on typical policies for each political party.

That’s right, political investments!

As of October, EventShares has come out with exchange-traded funds (ETFs) for “Republican” and “Democrat” stocks based on policies typically carried out by either party. The ticker symbols are GOP for Republican policies and DEMS for Democrat policies.

These are easy ways to invest in the policies carried out by each party. For example, GOP holds a lot of stocks that benefit from tax reform, deregulation and national defense investment. DEMS focuses more on health care expansion and stocks that benefit from environmental efforts.

Regards,

Ian Dyer

October new home sales ended up beating the forecast by about 10%. And these two companies will benefit from the growing housing market.

Internal Analyst, Banyan Hill Publishing

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Source: Banyan Hill