Bitcoin Cryptocurrency Prices Rebound Back to Above $8,000
FinancialBuzz.com News Commentary
NEW YORK, April 16, 2018 /PRNewswire/ --
Bitcoin continued its rally on Friday and climbed back over $8,000. According to data from CoinMarketCap, the price of bitcoin rose 6 percent to $8,076 during last Friday's trading session, which made a double-digit gain in two days. Bitcoin now has a market capitalization of about 137 billion and accounting for more than 43 percent of the total cryptocurrency market cap. The sudden jump in bitcoin price last week also pushed the entire cryptocurrency market higher. The crypto market added a total of more than 60 billion to its market caps last week. Chineseinvestors.com, Inc. (OTC: CIIX), HIVE Blockchain Technologies Ltd. (OTC: HVBTF), DPW Holdings Inc. (NYSE: DPW), Integrated Ventures, Inc. (OTC: INTV), NXT-ID Inc. (NASDAQ: NXTD)
According to CNBC, Thomas Lee, co-founder and head of research at Fundstrat, predicted that bitcoin price will hit $25,000 by the end of 2018. He said in CNBC's "Futures Now" on Thursday, "We still feel pretty confident that bitcoin is a great risk-reward and we think it could reach $25,000 by the end of the year. It's overdue. Bitcoin was incredibly oversold, when you look at metrics like price-to-book, which is 'money cost,' or our bitcoin misery index, it's pretty much what you saw at the end of the 2014 bear market, not the start."
Chineseinvestors.com, Inc. (OTCQB: CIIX) announced last week that it, "will be attending this year's 'Invest 2018' Exhibition on April 13th and 14th in in Stuttgart, Germany, the number one meeting point for the finance and investment sector in Germany. As one of the largest financial sector events in the Germany, this conference attracted more than 12,000 visitors and 144 exhibitors in 2017. Private and institutional investors use the platform to obtain information, compare assets, and invest in new opportunities.
"After a successful presentation at Invest 2017 which sparked the attention of German investors, we look forward to the opportunity to update the German financial sector and potential investors on the Company's recent business developments including the expansion of its core media and education services business to cover cryptocurrency and blockchain technology, and the upcoming spin off of all of the Company's hemp related assets scheduled to take place on May 31, 2018," says Warren Wang, CEO.
"For companies in attendance who are interested in reaching CIIX's unique data base of high net worth, Chinese investors, we also look forward to providing information regarding the Company's advertising and public relations related support services for emerging small cap companies and businesses in the cryptocurrency sector."
The Company recently announced that it will be launching the Bitcoin Trading Academy, the world's first educational platform covering all aspects of the cryptocurrency market. The first course will be held on June 2, 2018 in our Flushing, NY office with additional offerings in Manhattan, San Gabriel, CA and Arcadia, CA. Just last week, the Company lunched Bitcoin Millionaire VIP Livestream, a cryptocurrency subscription offering live streaming of trading demonstrations and other cryptocurrency topics for 6.5 hours daily.
The Company's expansion into the cryptocurrency business began in November 2017 with the launch of http://www.newcoins168.com , a premier Chinese cryptocurrency and blockchain technology information and education platform providing straightforward explanations of cryptocurrency basics, trading guidelines, real-time market commentary and analysis regarding mining, blockchain technology, industry hotspots, sector related stock trends and ETFs, and other strategies and opportunities to capitalize on this growing market."
HIVE Blockchain Technologies Ltd. (OTC: HVBTF) is a growth oriented company building a bridge from the blockchain sector to traditional capital markets. HIVE is strategically partnered with Genesis Mining Ltd. to build the next generation of blockchain infrastructure. In March, the company announced that they have entered into a series of agreements pursuant to which HIVE has agreed to acquire all of the issued and outstanding shares of Kolos through the acquisition of another Norwegian entity for total consideration of approximately US$9.9 million, 4,750,000 common shares and 1,250,000 warrants. HIVE is committed to being a leader in building a clean energy future for the blockchain industry. The Kolos project, which will be run on 100% green, renewable power, is a major project demonstrating this commitment. Kolos' primary asset is a 64-hectare property located in Ballangen, Norway, approximately 225 kilometres north of the Arctic Circle, and ideally situated for the construction of a large-scale, climate-cooled data centre. The property is in close proximity to infrastructure with excess capacity to provide HIVE with a supply of more than 1.0 gigawatt ("GW"), or 1,000 megawatts ("MW"), of hydroelectricity at highly competitive rates, and access to reliable, high speed internet.
DPW Holdings Inc. (NYSE: DPW) recently announced that its subsidiary, Super Crypto Mining, Inc. ("SCM") has entered into an agreement with a U.S. based entity securing the right to 25 megawatts of power in support of SCM's operations of approximately 20,000 mining rigs at the location. "We are excited about this new arrangement for many reasons. This not only helps SCM reach our 2018 goals but also provides capacity for future growth. We are proud to be working with a well-respected data facility leveraging efficiencies that result in a symbiotic cost-effective relationship. This is a unique relationship whereby SCM has obtained access to electricity for the miners at costs competitive with global locations, meaning that we can maintain our operations within the U.S. We will have more to share in the coming months specific to the operation as well as "Green Energy" practices that we are employing at the location," commented Darren Magot, the CEO of SCM.
Integrated Ventures, Inc. (OTCQB: INTV) reported recently the purchase of 20 highly profitable Antminer X3 ("AX3") mining rigs, with wholesale cost of $46,800. Estimated delivery is scheduled to be between May 15 and June 30. Antminer X3 along with all recently purchased mining rigs: Antminer L3, Antminer S9, Panda Miner B3 Pro will be installed at soon to be opened, third mining facility, capable of hosting up to 1,250 units. "We are very pleased to be able to expand our coin line up by adding a new currency - Monero and confident that this purchase will have a positive effect on our revenue growth. The latest purchase combined with current (less units sold) inventory, totaling 350 units, is projected to deliver the annual revenues in excess of $2,250,000 million per year, based on current bitcoin pricing. It must be noted that the projected revenue estimates are directly linked to the highly volatile currency market conditions and daily BTC pricing," said Steve Rubakh, CEO of Integrated Ventures, Inc.
NXT-ID Inc. (NASDAQ: NXTD) provides a comprehensive platform of technology products and services that enable the Internet of Things (IoT). This February the company announced that it is now accepting pre-orders for Flip™, a new contactless payment device that will enable cryptocurrency holders to use the value of their currency to make purchases at millions of retail locations. The new device, which was announced earlier this month, uses value exchanged from cryptocurrency to make traditional payment transactions. "Flip represents an exciting expansion of the FitPay Payment Platform by connecting cryptocurrencies to the payment ecosystem," said Michael Orlando, COO of NXT-ID and President of Fit Pay, Inc. "We founded Fit Pay to fundamentally change the payment experience, and making contactless payments with cryptocurrency is a big step toward that goal."
Acacia Research Corp. (NASDAQ: ACTG) announced earlier this February that it has entered into a Joint Venture and Services Agreement ("Joint Venture Agreement") with Bitzumi, Inc, a company developing macro opportunities in the cryptocurrency and blockchain industries, including a next generation decentralized exchange. Bitzumi recently filed a Regulation A Offering Statement with the Securities and Exchange Commission and a listing application with NASDAQ. Acacia has completed an initial $1 million equity investment in Bitzumi. Under the Joint Venture Agreement, Acacia will provide various patent-related services to Bitzumi and has the option to invest up to an additional $9 million to acquire Bitzumi common stock.
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