Latest news about Bitcoin and all cryptocurrencies. Your daily crypto news habit.
Latest Bitcoin News
A while back, the former head of NASDAQ projected that by 2022, all tradable instruments including Real estate, stocks and bonds would be tokenized. If that is the case then the world would be tokenized in the next three years according to Robert Greifeld and we know what will happen if the global stock market valued market cap is valued at around $73 trillion is broken down to divisible assets that everyone can ownâextreme demand, liquidity and an immediate spike in asset as well as asset market capitalization.
Read: Former NASDAQ CEO Predicts the Multi-Trillion-Dollar Global Market to be Tokenized, Is He Right?
The global stock market stands at $73 trillion but the combined value of the stock, bond, and real estate market cap is estimated to be around $503 trillion. Tokenization would not only mean an immediate windfall for coin asset prices but new regulator demands would emerge. Note that the SEC has the hands off these assets and to ensure fair playing field, rules have been formulated to punish those who flout these bare minimums.
On the other side, Bitcoin and most assets operate under the premise of decentralization and are global. This means applicable rules in one state may not apply in other areas opening out fractures that can be exploited for personal gains.
Also Read: Binance CEO Changpeng Zhao on the Bitcoin Revolution: âBeginning of the Beginningâ Still
The modus operandi and the open-end nature complete tokenization combined with decentralization is what makes Jay Clayton wary of approving a Bitcoin ETF. To the SEC, before this new product rollout, sponsoring exchanges should employ better monitoring tools to prevent market manipulation.
BTC/USD Price Analysis
BTC bulls are back. Following Fridayâs super surge from spot rates, it is clear that bulls found support, bouncing off $3,500 at the back of decent volumes. All the same, this is bullish and as long as prices are above $3,500, we expect bulls to jump in and propel asset prices above $4,500 and even to $6,000.
While we may be bullish thanks to the injection of demand, we also recommend patience. Our minor bull trigger is at $3,800. It wasnât retested on Friday neither was the follow through bars strong enough to close above this mark.
All we can see is that bulls of late Dec were confirmed as prices continue to oscillate horizontally inside a $1,000 range with caps at $4,500âDec 2018 highs and recent lows of $3,500âData streams from BitFinex.
As such, our previous BTC/USD trade plans hold true meaning it is only until after BTC surge above $3,800 that we shall initiate first positions with first targets at $4,500. Ideally, gains above Dec highs satisfactorily confirm bulls of the week ending Dec 23, 2018, forming the basis for a possible wave of higher highs with first targets at $5,800â$6,000 zone.
All Charts Courtesy of Trading ViewâBitFinex
Disclaimer: Opinions are those of the author. Do your Research.
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.