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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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Rakuten Taps Chinese Blockchain Firm for $60 Billion Authenticity Market

In 2008, at least 54,000 Chinese babies suffered after ingesting formula that had been contaminated. Demand for safe products has grown year over year, every year, since then. Companies like blockchain-centric Techrock have capitalized on this market by finding unique solutions to the authenticity problem. Techrock uses the blockchain to track every step of a product’s lifecycle and rewards consumers for verifying it through their mobile phones.

Chinese Consumers Increasingly Willing to Pay a Premium for Authentic Imported Food

In China, it is reportedly difficult to get authentic products. Some researchers have found that more than 90% of the food sold in China is faked in one way or another.

For non-food products, this isn’t such a big deal; but there are some markets where it’s life and death – such as baby formula and other food products, which can have deadly side effects. According to Techrock, which spoke to CCN about their recent partnership with Rakuten, the situation has created a market for authentic goods as large as $60 billion per year.

Techrock uses blockchain technology in two aspects of its business. On the one hand, it offers a loyalty program for customers who use the service to purchase authentic products. On the other, it creates a permanent record of a product’s authenticity.

From Supply Chain to Reward Points, Blockchain’s Role

Every product in Techrock’s store has a digital representation on the blockchain. The company has developed a reputation for delivering high-quality, authentic goods, and it’s applying the same process to its Rakuten “zone.”

Their target market is less about authentic shoes or electronics and more about health supplements and other things which people prefer not to risk. The loyalty program helps them retain customers, and using the blockchain for it, the points have no expiration date. A side effect of Techrock’s Tael loyalty program is that it introduces many people to blockchain for the first time.

Techrock recently entered a partnership with Japanese retail giant Rakuten to get authentic Japanese goods to customers. Rakuten has long had an interest in blockchain companies, but it only touches the technology in a tertiary way here.

Rakuten is looking to expand its reach in China, where it is far from the leading retailer. By contrast, Alibaba is the boss in China – but Alibaba’s eBay-style product suffers a lot of knock-off problems that the rest of the Chinese market does.

Growing Year-Over-Year

Built on Hyperledger, Techrock’s labeling technology ensures that products are real. The customer can verify this with an app on their phone, and once they do so, they earn their reward points at the same time. The rewards can be used to purchase more goods in the store, which encourages customers to keep using Techrock.

Techrock’s partnership with Rakuten means that Chinese customers don’t have to worry about fakes, and they have streamlined access to authentic, safe products. Techrock Co-Founder Alexander Busarov told CCN:

“We already sell in over 220 or 230 cities where our consumers are located. It’s all sent by the local dealer companies. We think our business will grow as the demand grows.”

China is reportedly the largest market for both food and firms that verify the safety of food. Consumers have been driven online as they continually lose trust in local vendors. Regulations and other issues make it such that local companies, like Techrock, will ultimately supply the demand.

Techrock’s partnership with Rakuten is notable because they’re the third to secure such a partnership – JD.com being one of the first – and they are built entirely on blockchain.

Source: Rakuten Taps Chinese Blockchain Firm for $60 Billion Authenticity Market

Eduardo Saverin’s VC Firm B Capital Raises $406 Million In First Close Of New Fund, Filing Shows

Eduardo Saverin raises new fund

Eduardo Saverin and his VC firm B Capital just filed a $406 million first close of their new fund.Bryan van der Beek for Forbes

The venture capital firm cofounded by Facebook billionaire Eduardo Saverin and partner Raj Ganguly has raised hundreds of millions in new funding to invest in startups.

B Capital has raised $406 million in a first close of its second fund, according to a new regulatory filing with the SEC obtained on Friday. The firm, which wrote in the filing it had raised that amount from 62 investors since late March, indicated that it planned to raise more than that amount, which already tops the $360 million it raised for its first fund.

B Capital declined to comment on the filing or its funding plans.

Earlier in March, Forbes published a wide-ranging interview with Saverin, the cofounder of Facebook who moved to Singapore in 2009. In that article, Saverin and Ganguly revealed a strategy to invest in companies with an international focus—B Capital maintains offices in California, New York and Saverin’s Singapore—and ones that can benefit from a “special relationship” with Boston Consulting Group, the consulting firm that is one of the anchor investors in B Capital’s initial fund.

At the time, B Capital had made about 20 investments from that fund, using up much of its “dry powder,” as the industry sometimes refers to money available to invest in startups. A source told Forbes at the time that B Capital would look to raise a second fund of approximately twice the size of its first later in 2019. That remains the goal after this first filing, the source says now.

At the time, B Capital had recently expanded to bring on a seventh partner, Karen Appleton Page, a former executive at Box and Apple. With seven investment partners and check sizes that can run into the tens of millions, it’s not surprising that B Capital, still just four years old, would seek out so much money so fast.

“No matter how lucky or blessed I might be, I will never retire on a beach,” Saverin told Forbes in early 2019. “We are still so early into making the technologies that will impact the world.”

Read more of Saverin’s views—and see how B Capital is looking to stand out in a crowded venture capital market—check the full feature story here.

Follow Alex on Forbes and Twitter for more coverage of startups, enterprise software and venture capital. 

I’m an associate editor at Forbes covering venture capital, cloud and enterprise software out of New York. I edit the Midas List, Midas List Europe, Cloud 100 list and 3…

Source: Eduardo Saverin’s VC Firm B Capital Raises $406 Million In First Close Of New Fund, Filing Shows

Investor Kathy Xu Rockets To 2019 Midas List Top Ten As Power Of Chinese Startups Grows

Kathy Xu, founding partner of Capital Today, debuted in the Midas List top ten.

Kathy Xu, founding partner of Capital Today, made a bold Midas List debut. Photo courtesy of Capital Today

Capital Today founding partner Kathy Xu laughs when she talks about her career-making early investment in Chinese e-commerce company JD.com, which began with a late-night meeting with founder Richard Qiangdong in 2006:

“We met at 10 p.m. and we talked until 2 a.m.!” she tells Forbes. “I gave him five times the amount of money that he asked for — I was so worried that otherwise he’d meet with other investors.”

Capital Today managed to become the startup’s sole Series A investor and Xu’s check — $18 million USD — paid off royally as JD swelled into an ecommerce giant, with Xu working closely with Qiangdong along the way, advising him on key hires and company branding. Two years after JD went public in 2015, her firm cashed out returns of $2.9 billion.

A couple years and a handful of new deals later, Xu is making her bold debut on the Forbes 2019 Midas List, ranking in the top 10 venture capitalists in the world in her first year of inclusion (her work has previously been highlighted on Forbes China’s list of top 25 women venture capitalists in China).

This year’s list features 21 investors who are either of Chinese nationality or work for a firm based in China, the largest number ever on the list and a tribute to the growing power of China’s startup and venture capital ecosystems.

Xu says that Capital Today, which manages approximately $2.5 billion, focuses all its energy on companies based in and serving China and has zero interest in looking outside the country.

“It’s a big enough market, the economy is doing well, the entrepreneurship is great, and we’re starting to see real innovation booming for the first time,” she says. “It’s a lucrative market to focus on.”

Xu says that her team disciplines itself to only five or six deals a year in business-to-consumer companies and spends a lot of time with founders that it invests in.

“There’s more and more money here now, so building a connection with the entrepreneur and spending a lot of time with them is more important than ever,” she says, citing proximity as an advantage over out-of-country investors who only make occasional business trips.

Beyond JD.com, other Capital Today portfolio highlights include Chinese gaming company NetEase, discount e-commerce site Meituan-Dianping, classified listings site Ganji.com (which merged with 58.com in 2015), Yifeng Pharmacy, which went public in 2015, and hot snack company Three Squirrels Snack Food.

Other Chinese investors who made this year’s Midas list are Sequoia China partner Neil Shen, who topped the rankings for the second year running, Qiming Venture Partners’ managing partner J.P. Gan, No. 5, and Hans Tung from GGV Capital, No. 7.

See the full list of Chinese investors here.

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I’m a San Francisco-based staff writer for Forbes reporting on Google and the rest of the Alphabet universe, as well as artificial intelligence more broadly. Previously

Source: Investor Kathy Xu Rockets To 2019 Midas List Top Ten As Power Of Chinese Startups Grows

China’s Richest 2018: Meet The Youngest Members of China’s 400 Richest – Alex Fang

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The rich grow old like everybody else. China’s wealthiest are, on average, 55.7 years old, up from 54.7 a year ago. Still, newcomers made sure the club of China’s wealthiest has more young blood than it did in 2017. This year, 15 of China’s 400 Richest are under 40, compared to 13 last year. Among them, two inherited their fortunes; the rest are self-made — incidentally, all in tech. Together the 15 are worth close to $63 billion……..

Read more: https://www.forbes.com/sites/alexfang/2018/10/24/15-under-40-meet-the-youngest-members-of-chinas-400-richest/#65a1895f7369

 

 

 

 

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