With poniedziałkowych events: the Instability of Bitcoin will lead new investors; High taxes imposed on the Korean stock exchange; Spanish analyst publishes good predictions for Bitcoin; Canada and administration using the Blockchain technology; the situation on the stock exchanges.
• The instability of Bitcoin will lead new investors:
Analysts from Deutsche Bank published a memo to clients Friday, 19. Jan, saying that there is a growing correlation between the Bitcoin price and the CBOE volatility index (VIX), also known as the «Fear Index» on wall Street.
Masao Muraki, a global financial strategist at Deutsche Bank, together with two colleagues – Hiroshi Torii and Tao Xu wrote that stability in the most popular markets, encourages investors to look for money elsewhere. Given the growing interest of institutional investors to more risky investments, the attention is directed exactly on kryptowaluty. Muraki wrote:
Currently, more and more institutional investors sees kryptowalutach the boundaries of risk taking to assess the stability of asset prices. This leads to the fact that institutional investors to assess the assets, using your financial expertise, analysis, and strengths, information, actually looking for feedback about the market prices of crypto currencies, which are mainly created for retail investors.
Muraki main argument is that as long as reduced volatility in the stock market, the value of Bitcoin and other major cryptocurrencies will continue to grow, as investors will continue to approach the market crypto to make money.
While the market for conventional assets is now relatively predictable, the market for cryptography, it is not stable. Once you have reached the price of 20,000 per unit in mid-December 2017, Bitcoin touched a correction to $ 10.000 17. Jan and is currently very closeup return to this place.
Steve Chiavarone from Federated Investors, said in an interview dlaCNBC:
This is the first sign of such a large greed since the great depression, points to the growing risk appetite, which carry with them the markets on crypto currency.
The appetite for risk is not currently used in the world of traditional stock, but rather in the world of crypto currency. However, Chiavarone convinced that whatever happens with Bitcoinem and other kryptowalutami in 2018, the appetite of investors will continue to grow.
• High taxes imposed on the Korean stock exchange:
Local news Agency Yonhap reports that the South Korean government announced today that it will be collected 22%-new tax and 2.2% local tax on profit of exchanges kryptowalutowych in this country.
The tax statement came immediately after the completion of an unprecedented attempt to combat money laundering in six major banks in Korea, which showed a 36-fold increase in Commission accounts, with the number of stock exchanges on crypto currency, as we wrote a few days ago.
The South Korean stock exchange Bithumb got 295.368.000 dollars last year, as expected, he’ll pay about $ 60 million of taxes, in accordance with the new rules. Account interest is tax compatible with the Korean tax code for all corporations, which receive an annual income of more than 18.7 million dollars.
Bithumb, which is the largest stock exchange in the world with a turnover that amounts to 2.85 billion dollars a day, was zhakowana in February 2017, losing about $ 7 million, mostly in Bitcoinie and Ethereum. This is a security breach, along with some other violations of South Korean exchanges, the last time was finally installed a couple of hackers from North Korea.
The South Korean government recently strengthened the observance of the rules kryptowalutowych in the country. By order of the probes the financial, the government banned the use of anonymous accounts for virtual, froze the opening of new accounts and banned the trade of minors and foreign users on the exchanges.
The South Korean public has been fighting a petition to the failure of the last government regulation. After reaching the required 200,000 signatures, the petition, as expected, currently on an official response from the government.
• Spanish good analyst publishes forecasts for Bitcoin:
Bitcoin is likely to cost more than $ 50,000 in 2018 – it follows from mathematical research conducted Xoel, and lópez Barata. Spanish analyst and scientist have figured out that Bitcoin has achievements 55.530 dollars before the end of this year. And the probability that the largest cryptocurrency will be equal to or less than at present, representing less than 10%.
Barata integrates scientific assessment with a large number of forecasts of different types, using simulation Monte Carlo with the so-called «random walks» in order to reveal potential future price of Bitcoin, developing original data and the possibilities, probabilities.
It is important to remember that this kind of assessment is best used as a way to find compartments and trust – in this case, the interval of the Bitcoin prices, wynosiłby from 13.200 $ 271.277 dollars.
– added Barata.
In Canada, as administration using Blockchain technology:
National Research Council (NRC), which is a government initiative that explores the Ethereum Blockchain system used for recording public contracts. NRC works with start-up Blockchain Bitaccess to use its platform called for the publication of information on state grants and contributions to open-source Blockchain.
As the message a press-services, is part of actions aimed at increasing the transparency of government. NRC is the first subject, which is testing the technology of the Blockchain and already publishes information on progress. The team will assess how the government can use this technology in other areas.
Bitaccess co-founder, Mo Adham, said in a blog post that the company has built its stake Catena Blockchain Suite to help organizations see the use of this technology:
Our goal is to help organizations achieve complete transparency and to give people the opportunity to participate in the verification and approval of public information.
It’s interesting though, this is not the first official body in the country, which would enter the Blockchain. The canadian Central Bank has already started experimenting with platforms based on this technology, particularly with systems cost. The Bank Project Jasper tested on securities accounts and their flexibility.
• So the situation on the stock exchanges:
Despite the good forecasts for the coming months for many research institutions and individuals, are deeply analyzed kryptowaluty, time to display Bitcoin does not have to occur now. Broken support line around $ 11 000 and upływające billion dollars from the market may anticipate further adjustments. If punctured $ 10,000, or rather, nothing will protect Bitcoin in the campaign in the neighborhood of 8,000 dollars.
At that time, the largest in the crypto currency notes 10.700 dollars, a decrease of 6.7% compared to last night. Most of the other currencies goes almost hand in hand with Bitcoinem for example – Ethereum has reduced the value of 5.6%, a Surge of 10.4%. Resistant this situation seems to be EOS, which recorded a growth of 6.9%. The total capitalization of the market is 516 billion us dollars, and therefore, declined yesterday to 39 billion dollars.
source: cointelegraph.com, coindesk.com, bitcoinist.com, coinmarketcap.com.