A few hours after my last post yesterday, Bitcoin began to move and eclipsed the 10 grand USD line once again. BTC continues to move up at this time but I expect the Bears (Sellers) to impact that price at some point seeking gains from their Trades.
Ethereum is the 2nd largest crypto coin in Market Cap; I have held Ether for quite some time but haven't used it in ventures or the growing 'smart contracts' on the go today until a few days ago. More on 'Smart Contracts' on my Tickers and Trending page.
Taking Bitcoin as an example that I transact daily; fees are low and reasonable compared to the first major climb in the fall of 2017. Fees were about 50% if I wanted to move it and it could take days with all the blockchain congestion. I haven't had that issue since.
With 'Ether', fees are called gas and today for example with more users, more transactions and a price that's moving up, the 'gas' fees can top to $10 on a small Ether transaction, which I seen today to support the Ether and Blockchain network of miners.
Where time is money with the opportunity to collect more, high fees can stop a person from further investing or accept it and calculate the loss in the overall gains depending how congested/busy the network is.
Fees and the bottom line ...
One of the main issues today in the North America stock markets is seeking low and the lowest fees for investments after years of blindly accepting or not being shown high mgmt rates that subtract from a portfolio's balance year after year.
Higher the balance, more cash gets deducted.
There's a couple issues weighing on the price of Bitcoin keeping it below 10 grand USD although it's moving up a tad today. The US looks like it's going to makes some announcements in the near future about crypto under the Trump administration. More laws or restrictions? No idea at this time. After an Europe based 'forced' collapse of an exchange, there's also a major shutdown with a China exchange where there was an internal shortfall of 7000 to over 12,000 Bitcoin ( Approx. $130 million) that went poof leaving users of that exchange at a loss that held 'coin' in there.
Those into other 'coins' like me are seeing increases in those held; Ether is seeing green (up) increases with a near 9% increase and Tezos, a further 11.98% increase so far today.
Google 'search' trends are a decent indicator in what people's interests are. In the crypto world, searches for Bitcoin halving and other Bitcoin related clicks have gone way up recently. That's encouraging for perhaps a further boost in Bitcoin's price in the future. Meanwhile, BTC is hanging around the high 9 grand USD range.
Currently, with increased activity in Bitcoin, blockchains are getting jammed up with pending transactions depending on time of day and what wallet/exchanger a crypto holder is using. Fees are staying low. Miners/Processors also seem to be synched to complete high end transactions for their higher commissions before moving to medium and low amount transactions.
For example, I had to wait several hours yesterday for 2 BTC transactions to complete, normally a 1/2 hour to 2 at the most.
The biggest news in Canada these days is the continuing protests and blocking of the railway lines out west. Practically bringing the freight and passenger service to a standstill with temporary employee layoffs. The environment concerns over fright car accidents, that seem to be more frequent lately, releasing toxic chemicals and fuels plus the ongoing debate over future Pipeline construction; are the main reasons for the protests and blockades.
Happy Valentines Day
February is treating us Nova Scotians' (Bluenosers) decent so far 'weather wise' approaching Valentine's Day and mid month. Getting a bit of snow for the 2nd time in 3 days but not much accumulation. Another couple weeks and the weather will be more spring like. At least by mid March.
Fluctuations in Bitcoin price are rapid and sporadic lately. I've been watching but not trading as large amounts of Bitcoin buys drive the price up $200 to $300 at a time and then the sellers come into play bringing it down just as rapid.
Tezos owners are liking the action where Bitcoin increases usually rally other digital tokens and Tezos has grown over 50% since that $1.50 range in the latter part of January.
One of America's biggest banks, that's into crypto ... JP Morgan is working on coming out with their own coin called JPM Coin equal to the US Dollar and be involved with the Blockchain system. Be interesting on how this high power and money driven bank behind this coin will boost the crypto world. First hurdle is getting it legalized. JP Morgan in the large bank category was the only bank during the 2008 financial crisis that actually made money.
In the crypto world, the drop from over 10 grand USD with Bitcoin was expected where all the talk was about reaching that height and patient 'Sellers' waited to withdraw gains that played their cards right. Buy low, sell high.
Some speculators figure it will move over 10 grand again but for now, it's in that area where not sure which way the coin will move, up or further down.
Note: Not long after my early AM post here (Atlantic Halifax Time), BTC began moving up rapidly to $10,200 USD
The coronavirus virus is far from being contained yet as more deaths and more people are getting infected in China and around the world. More deaths being reported than with the SARS virus years ago.
Travellers and globe trotters certainly need to be aware of this and take precautions.
Depending on the country, economies will be affected where China remains in a controlled lock down for now.
After I logged out yesterday, Bitcoin climbed the hurtle of 10 grand USD and went up to $10,160 USD on my Trading site. I sold at $10,115 this morning. Interesting to see if the next Bull run will drive it higher or if that will happen today.
In July of 2019, Bitcoin rose above $12,000 USD. An interesting quote I read yesterday. 'History doesn't repeat itself but sometime it rhymes'.
Very true but I'm also a believer in cycles and trends.
Tezos, Kraken's only 'Staking' coin at this time also climbed to $2.46 USD from $2.20 yesterday.
On Coinbase Earn, folks can learn and earn free coins such as Tezos and EOS tokens, with the ability to trade on Coinbase for Bitcoin or other coins, or grow the coins gained.
In the crypto world, many Bitcoiners are watching the price these days with steady growth over the last 7 weeks. Yesterday it hung around the $9800 USD range where many figure that 10 grand plateau will happen soon.
For Ethereum fans, currently around $225 USD for each coin; speculation is Ethereum 2 will be coming out in June. Ether is the 2nd highest crypto in Market Cap at over 24 billion. It has happened in the past with a coin that owning Ether for example, an equal amount in Ether 2 (when it comes out) is given to holders but I haven't seen much of that lately just investors looking for a growing bump in price of Ether 2, for example, at the start.
It seems like the Bulls in Bitcoin investors and Traders are on a mission to push the coin to the 10 grand USD range. Not sure if it will make it today but
looks like that will happen with one of these off and on 'bull runs' over the next few days/weeks.
Meanwhile, other Altcoins are moving up as well, such as Tezos, around $1.51 when I bought per coin, now at $2.17 USD. Looks good in my Kraken 'staking' account.
In the Stock Market, the numbers show investors have moved on from the China virus issue and Markets are moving up until the next international problem brings a short term drop. China also halved Tariff fees on US imports for now so that helps.
Oil is also back up some after production cuts, another factor that plays on the Markets when the price of oil is in a nose dive. Funny thing is, oil price rarely has a big effect on the price of gas. In some places, oil down, gas up .. go figure. The oil baron's excuse is whatever the price of stored gas being delivered was bought at. Could be weeks ago.
On my Fintrek page, I updated about a popular Blog, Millennial Revolution and the author Firecracker. Her and her Hubbie (aka Wanderer) put together a book called, Quit Like A Millionaire (I bought and read the book) where they did just that at a young age. Now, to do that ... one needs to be able to put aside and invest a nice chunk of money each month. Not possible for everybody but those with a goal and discipline in mind, it can be achieved starting early in life.
Anyway, her last two articles were about investing and saving with a Fin-teck. Looks like we are on the same page where I'm also with Wealthsimple out of Toronto supporting Canadian, US and UK users. Their next article not published yet, is goingto dive into their ETF selections.
Bitcoin is about $200 off of it's average price the last few days, $9300 USD. Mixed feelings out there now, which way the coin will go next. Not surprising where highly unpredictable.
It's going to be an interesting week as I suspect Don Trump impeach Senate vote will go his way Wednesday but there are further investigations outside of that about his tax affairs it seems. The rich and powerful usually skirt all this compared to your average citizen.
China, in fast time has built a hospital just for the virus containment and research so that should help some with the crisis in that country that's slowly spreading to other parts of the world.
Traders continue to put selling pressure on the Bitcoin keeping it at it's current level after a high of around $9600 USD yesterday. All about gains. The crypto scuttlebutt figures it will top 10 grand over the next few weeks.
Tezos, my other interest in 'coins' gained about 40 cents a coin since I initially bought. But, I suspect there will be some selling and transferring to other coins in the short term to come bringing it back to normal.
In the stock and oil markets, things are not so rosy as they were for most of January. China is in kind of a lock down to control the coronavirus, affecting cargo in and out I'm sure to some degree. Some investors are selling in fear of a beat down in their holdings. Most long term holders ride it out as always. Gold is expected to go up in value as a result. It will be good news when the virus is contained, currently a global issue.
Looks like kind of a breather between the Bears (Sellers) and Bulls (Buyers) of Bitcoin where hovering around the $9,300 USD range. I expect the coin to continue to go up but as always ... highly unpredictable. I moved more Bitcoin and USD into my Trading accounts as I watch the numbers.
The high rollers or 'Whales' out there are watching as well, where a recent sell for 500 Bitcoin equaling about 4.5 million in USD.
It is estimated 40% of the Bitcoin holders are those who have held and accumulated Bitcoin since it's start from a few cents worth back in 2010.
Bitcoin is in the news with it's rally and staying above $9000 USD so far. Predictions are for a further move higher and see how that pans out.
A lad that's been calling the major fluctuations from the start with Bitcoin and has been fairly accurate, figures a high of $12,500 USD is possible in the next 4 months or less. But again, just a prediction and different factors act on the coin now than years ago.
With Stablecoins, lot more Trading happening which occur thru the trusted Ether network as folks get more comfortable with these type coins that are equal 1:1 with currencies like the USD.
Meanwhile, I added more Tezos to my Karken 'Staking' account to gain interest every Tuesday and Thursday like clockwork
Out of Europe, Switzerland meetings ... Crytpo currencies and stable coins are going to be governed by a 'Global Consortium for Digital Currency Governance'. A wide range of people will sit on the board such as bankers, Government officials, leaders in crypto, etc. An effort to tame the 'Wild West' look of it all and makes it more appealing to the financial sector is the aim I'm sure. Continue to weed out the crooks and money launderers out there thru required reporting of activities that are suspicious.
Japan and some Asian nations are working on producing their own digital coin in case Libra (Facebook coin) does go live and creates an issue in their financial sector.
What's going on with Telegram and the US SEC lately? ... The US SEC stands by it's classification of the GRAM as a security while a future court case will determine if it is or ain't. Thru documents, the US SEC determined that Telegram is using it's past coin sale and future development purely as a money raising tactic. When pushing back against a US Federal department, usually doesn't work out well but it happens in rare occasions.
If I'm not thinking about investing money or crypto, I'm thinking about returns or interest rates earned on my principals. The US has some great no fee, savings institutions ans sites (Fintechs)
Here in Canada, one Fintech that's steady in the news and looks like working to get up to par but stay different from the top 5 Banks ....Wealthsimpleis steady growing and expanding their online financial business. With their latest offer I added a post to my 'The Fintrek page. A non promotional 2.4% interest rate on Wealthsimple Cash with a Bank Card soon to come.
Into the 3rd week in January and the new year, stock markets continue on their positive pace so far and Gold continues to be the talk. Fairly quiet on the 'oil' markets although rumblings about improvement in price continues as the US works to glut the market and wanting to be self sufficient on it's oil.
Don Trump's legal battles heat up as the impeachment process is under way. Hate to admit it but I figure Trump's off and on Tariff wars played into the hands of savvy investors with buy and sells through trading during the fall and rise of the Markets during these squabbles with China and Europe at times. Wider 'margins' make for more profits for those who know how to play and manipulate the game.
Meanwhile, on the crypto front, some are expecting a major breakout in the price of Bitcoin with the 'halving' coming up in the summer but not sure that will happen. Decent spreads lately for Traders to make some gains.
I decided to move more Bitcoin into Tezos for 'staking' in Kraken. Looks like the best deal in that area for earning interest on my coin with no 'lock in' period.
We are getting a few centimeters of snow here in Nova Scotia, every 2nd or 3rd day lately with more today, followed by a week of sun so far. Nothing compared to St. John's, Newfoundland which got hit with a wicked 70 to 90 centimeters that completely shut down the city Saturday into today. Now the process of digging out after a state of emergency was declared.
When I first got into crypto and Bitcoin, my next thought was about converting the digital coin to 'cash in the hand'. Not many options available I soon found out where it was a new thing. In Canada, I had a SolidTrustPay account and STP eventually jumped into crypto as well. Soon, the option was there to swap BTC for CDN and transfer direct to my Bank. Cool.
As an additional option, I registered with Coinbase awhile back and they eventually added the option of withdrawing to Paypal for Canadians and from there I could also transfer to my Bank. For funding and withdrawing that arrangement has worked out well.
I had an unfortunate accident and haven't been posting as frequent as I usually do. Recovery stage over the next few weeks after surgery.
Good to see Bitcoin staying above $8500 USD so far after the lows of last December.
Kraken grows again, moving into Australia and buying the oldest crypto exchange in that country called Bit Trade. Being a member of Kraken, the more business they bring in the better.
A tad more excitement with Bitcoin this past week as the coin rallied to the mid $8000's USD during the US-Iran trouble.
I don't see much of 'ICO's' anymore. 'Initial Coin Offerings' where crypto investors buy and hope for a gain down the road, if the coin goes up in price. The most notable one is Telegram's 'gram' token with 1.7 billion dollars invested that got the attention of the US SEC. Telegram apparently is making changes to avoid the coin looking as a 'security' for now. Investors were no doubt anticipating a big gain when sold and that is a security.
Otherwise, some ICO's worked out well for investors and others ... scams that were steady in the news with the owners eventually ending up in the klink or paying huge fines to avoid jail time.
There are some theories on why the sudden jump in the price of Bitcoin (over a grand since New Year's Day) with a more rapid climb since the US - Iran conflict started. Iran retaliated today with missiles fired at US Bases in Iraq but no casualties as of now. Hopefully, an all out war will not be the result as cooler heads need to prevail. Gold and Oil have also gone up as a result.
More on the 'waitlist' with Coinbase Earn , where I got an email that it was my turn to learn about Tezos and gain some XTZ for doing so. The price of Tezos (XTZ) climbed today as well ... bonus for my 'staking' with Kraken.
It's been great weather here in Nova Scotia over the holidays and starting the new year. Next, is a couple months of the odd snow fall before the weather turns again in March to more rain, heading for the spring.
Bitcoin fell some over the last couple days. That was kind of predictable where some sell, unsure of what 2020 will bring. Sort of an 'end of the year' cashout and reassess. Stock Markets are the same but a good start so far in that area.
First new thing I got into is what I mentioned in my last post for 2019. Staking ... and of course 'returns' all depend on the amount invested. Both Kraken and Coinbase offer swapping of Tezos, which is the 10th largest 'coin' in market capitalization, shy of a billion at this time.
Coinbase Earn , offers mini courses on the coins it hosts and Tezos is one of them. Folks can also register and get into a wait list to gain Tezos just by watching and learning through short video information sessions.
Happy New Year
Entering 2020, I got interested in Kraken's 'Staking' opportunity and added Tezos (XTZ) as their first listed coin for their Staking option with a reward of 6% based on a year. More on Tezos to follow, hovering around $1.20 to $1.30 USD these days.