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BTC Developer: “Cryptocurrency Diversification Makes Little Sense”

The prominent Bitcoin developer Jimmy Song has made the argument in recent Medium post, that it doesn’t make a lot of sense for diversifying a crypto asset portfolio. Song is a big believer that including altcoins to an investment portfolio allocated a certain percentage to Bitcoin will not improve the chances of receiving a higher return on invested capital. Investment portfolios Song goes onto explain that investors will typically diversify their investments in order to statistically reduce the risk of permanent loss and reduce the negative effects of volatility. Even though he acknowledging that asset diversification “makes sense” for more...

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SEC: VanEck ETF Delayed

Yesterday we saw the SEC make a decision on the VanEck Bitcoin ETF and, as many people had expected, the proposal was delayed so that the commission can garner more information on the ETF before they make a final decision. Delays, delays, delays The official filing by the SEC was published earlier this week and says that they need more information on the rule change before making a decision. The commission has further inquired more information on the ETF and it has stated that there are 25 comments lined-up on the proposed rule change. At the moment though, the SEC’s...

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Sally Ho's Technical Analysis 22 May 2019

Bitcoin Bitcoin (BTC/USD) found a little bit of buying interest early during today’s Asian session after trading as low as 7805.34 during yesterday’s European session and trading as high as the 8112.99 level during yesterday’s North American session. The pair remained above the 50-bar MA (4-hourly) during yesterday’s European session and continues to orbit the 50-bar MA (hourly), currently around 7930.15. The pair also continues to trade right around the 7966.03 level, representing the 76.4% retracement of the range from 8388.00 to 6600.00. Chartists continue to evaluate the pair’s upside potential and identify the 8139.25 area as an upside target,...

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Ripple (XRP) Risks A Fall Below 50 Week MA After Ichimoku Cloud Rejection

Ripple (XRP) has just faced strong rejection at a critical trend line resistance next to a bearish Ichimoku cloud that the price is extremely unlikely to break past at this point. As XRP/USD goes down, it will become easier to eventually break past this cloud. So far, the price has shown no signs of a bullish continuation. We are likely to see XRP/USD decline to the bottom of the descending triangle. This might result in a break below the triangle to the next key support just below $0.15. Ripple (XRP) has avoided most of the brutal downtrends of the ongoing...

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Should You Invest in Bitcoin? Don’t Ask the Billionaires, Follow their Money

There are two sides to every coin, most especially with Bitcoin. Since its inception in 2008, the community has never lost the buzz surrounding it, whether it be positive or negative. Let us take a look at some of the biggest proponents and those on the opposing sides and where they these innovators think the whole industry is headed: The proponents Tim Draper Hailing from Silicon Valley, it is normal for Tim Draper to be in the know of the best investment opportunities in the technology space. Venture capitalists should know the pulse of opportunity and Draper sees this in...

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