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Will China Take Bitcoin To $20,000?

The best way to lose money in the markets is to sell when you are scared and buy/hold when you are happy with your profits.

So it was for me a couple of days ago when bitcoin (BTC) was $9,500. I so wanted to close out 25% of my BTC and leave myself to run the rest, having taken out the cost of my position in cash and thereby run the rest as free carry. You can spin all sorts of narrative why that’s a smart idea or why that’s a dumb one, but the fall was the impetus and the desire to flee a normal human emotion. It is an instinct that traders and especially investors need to control.

Luckily, I’ve been playing the high risk game long enough to wait. When I want to sell an investment solely because it has dumped I wait at least two or three days before making such a move. If and when bitcoin hits $13,500, I will want to load up on more but I will likewise stop myself from buying into bullishness.

So I did nothing with my bitcoin and this happens:

Bitcoin jumped again on Monday

Credit: ADVFN

Once again doing nothing is the best move you can make with a good position.

So in my model, this is China and this is down to the trade war.

Today In: Money

When bitcoin jumps, something bad has just happened in the U.S./China trade talks. We don’t know what it is, but soon enough we will find out.

Well today we get a Trump tweet and up BTC goes again. Yesterday, what happened? I guess whatever it was that made bitcoin pop, also left the U.S. president even more incandescent than normal.

This is still a theory, but it keeps on playing out. So what to do? In the short term the question is, is the China situation going to continue for long?

Continuation of the trade war means BTC up. The longer the war runs, the higher bitcoin will go.

For me it’s likely that the trade war is going to run and run. Both sides can’t buckle and like most wars, sides are prepared to take big losses, not to lose. This means holding through a rollercoaster ride of developments.

If we are in for a trade war of attrition, bitcoin will be above £20,000 by Christmas or sooner.

What we also have here if this theory is right is a gift to the extra greedy. When bitcoin flies, short the Dow, because when BTC flies, for no apparent reason, it is a high probability that something Dow slapping will come out of the trade war in a day or two’s time. While information may flow more slowly in the U.S., whatever goes wrong will nonetheless hit the U.S. equities market soon enough, but meanwhile the bad news will hit the Asia bitcoin market much sooner, about as long as it takes for the participants to get out of their meetings and past the revolving doors.

BTC down on Monday, should also give Dow up on a Tuesday and vice versa. Bitcoin is the gift that keeps on giving to traders.

Gold and the whole platinum group metals (PGM) will follow but at a much more refined and subdued pace; bitcoin delivering another leading signal to the stacker community or any trader that wants to play the dangerous game of levered commodities.

Signals like this don’t come by very often and can’t last for long, but while the stakes are in trillion dollar scale, quite a few million dollar crumbs are going to be left lying around the table.

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Clem Chambers is the CEO of private investors website ADVFN.com and author of Be Rich, The Game in Wall Street and Trading Cryptocurrencies: A Beginner’s Guide.

In 2018, Chambers won Journalist of the Year in the Business Market Commentary category in the State Street U.K. Institutional Press Awards.

I am the CEO of stocks and investment website ADVFN . As well as running Europe and South America’s leading financial market website I am a prolific financial writer. I wrote a stock column for WIRED – which described me as a ‘Market Maven’ – and am a regular columnist for numerous financial publications around the world. I have written for titles including: Working Money, Active Trader, SFO and Technical Analysis of Stocks & Commodities in the US and have written for pretty much every UK national newspaper. In the last few years I have become a financial thriller writer and have just had my first non-fiction title published: 101 ways to pick stock market winners. Find me here on US Amazon. You’ll also see me regularly on CNBC, CNN, SKY, Business News Network and the BBC giving my take on the markets.

Intelligent Investing is a contributor page dedicated to the insights and ideas of Forbes Investor Team. Forbes Investor Team is comprised of thought leaders in the areas of money, investing and markets.

Source: Will China Take Bitcoin To $20,000?

Chinese government efforts to crush Bitcoin continue with a proposed mining ban, adding to the raft of anti crypto legislations in force in the country, but much like Bitcoin, Chinese buyers just don’t care. Sources https://cointelegraph.com/news/chines… https://www.reuters.com/article/us-ch… https://www.newsbtc.com/2019/04/04/bi… https://news.bitcoin.com/russian-bank… Free Cryptocurrency Course – https://www.thecryptolark.org/ RECOMMENDED EXCHANGES & WALLETS GET FREE CRYPTO ABRA – GET $25 IN BTC – (US bank deposits or AMEX)- https://invite.abra.com/p9lwV0WqCR COINBASE – GET $10 Free Bitcoin on sign up! https://bit.ly/2zqeVfV LIQUID – GET $10 FREE QASH (verify & make $100 trade) – https://www.liquid.com?affiliate=Gtrf… TOP EXCHANGES BINANCE – #1 Crypto Exchange https://www.binance.com/?ref=10192350 BINANCE JE – BUY CRYPTO IN POUNDS & EURO https://www.binance.je/?ref=35019746 KUCOIN – Awesome For Low Cap Gems – https://www.kucoin.com/#/?r=18a8f CERTIFIED CRYPTOCURRENCY BROKERAGE CALEB & BROWN – Brokerage – Trade OTC like the big guys https://bit.ly/2Feq8F6 TAKE YOUR SECURITY SERIOUSLY – GET A HARDWARE WALLET LEDGER NANO https://www.ledgerwallet.com/r/6877 TREZOR – https://shop.trezor.io?a=Aw902Rsted LEARN TO TRADE LIKE THE PROS TRADER COBB 10% OFF CODE THELARK10 – https://tradercobb.com/?ref=169 SOCIAL MEDIA – These are my only accounts, beware of scammers! TWITTER twitter.com/TheCryptoLark FACEBOOK facebook.com/TheCryptoLark TELEGRAM GROUP t.me/thecryptolark TELEGRAM HANDLE @cryptolark STEEMIT steemit.com/@larksongbird D-TUBE d.tube/#!/c/larksongbird BACKGROUND ART BY Josie Bellini – https://josie.io/ PODCAST – find me on I-tunes “Crypto Waves” https://player.fm/series/crypto-waves… CONTACT E-mail thecryptolark@gmail.com with business or event enquiries. DISCLAIMER Everything expressed here is my opinion and not official investment advice – please do your own research before risking your own money. This video may contain copyrighted material the use of which is not always specifically authorized by the copyright owner. Such material is made available for research or academic purposes. We believe this constitutes a ‘fair use’ of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, this video is distributed without profit, for research and educational purposes. Thanks for watching; please like, subscribe, and share if you found this useful! #bitcoin #crypto #ethereum #cryptocurrency #neo #elastos #litecoin #eos #ripple #ontology #monero #stellarlumens #cardano #nem #dash #ethereumclassic #vechain #tezos #zcash #dogecoin

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Bitcoin Warning As Serious Security Vulnerabilities Uncovered

Bitcoin developers have been trying to make the world’s most popular cryptocurrency more useful for payments, with the somewhat controversial Lightning Network one of the most popular projects.

However, serious security vulnerabilities have this week been discovered on the bitcoin Lightning Network, which could result in users losing their funds if nodes are not upgraded.

“Security issues have been found in various Lightning projects which could cause loss of funds,” wrote software developer, Rusty Russell, who authored the majority part of bitcoin’s Lightning Network protocol specification, in a post shared via a Lightning Network mailing list. “Full details will be released in four weeks, please upgrade well before then.”

The specifics of the vulnerability will be disclosed on 27 September, a common software security practise to both prevent bug exploitation and give developers time to patch problems.

The vulnerability appears to be related to the lightning-ready bitcoin wallet Eclair, which Russell also advised users to update.

The Lightning Network, first proposed by Thaddeus Dryja and Joseph Poon in a 2015 white paper, creates a layer on top of the bitcoin blockchain, where transactions can be passed back and forth before being added to the underlying blockchain.

Today In: Money

This should mean bitcoin transaction speeds are increased while costs are significantly reduced.

There are now a few different Lightning-ready wallets available, as well as companies that are able to process them on behalf of merchants.

However, low user numbers mean bitcoin lightning nodes currently lose money when they process transactions, according to recent reports.

When sending a Lightning payment, two parties deposit the funds at one bitcoin address, a so-called channel, in which they can exchange funds a limitless number of times.

This maintains bitcoin’s security but means small, regular payments don’t need to be added to the underlying blockchain until the channel is closed.

Questions have been raised about what Lightning Network adoption will mean for the bitcoin price, with much of the price dependent on transaction fees picked up by miners.

Most are though confident that with increased bitcoin adoption the price will continue to rise.

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I am a journalist with significant experience covering technology, finance, economics, and business around the world. As the founding editor of Verdict.co.uk I reported on how technology is changing business, political trends, and the latest culture and lifestyle. I have covered the rise of bitcoin and cryptocurrency since 2012 and have charted its emergence as a niche technology into the greatest threat to the established financial system the world has ever seen and the most important new technology since the internet itself. I have worked and written for CityAM, the Financial Times, and the New Statesman, amongst others. Follow me on Twitter @billybambrough or email me on billyATbillybambrough.com. Disclosure: I occasionally hold some small amount of bitcoin and other cryptocurrencies.

Source: Bitcoin Warning As Serious Security Vulnerabilities Uncovered

By Daniel Chechik, Ben Hayak, and Orit Kravitz Chechik A mysterious vulnerability from 2011 almost made the Bitcoin network collapse. Silk Road, MTGox, and potentially many more trading websites claim to be prone to “Transaction Malleability.” We will shed some light and show in practice how to exploit this vulnerability.

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