21st Money Crypto News & Analysis 8/31/18

Crypto News, Analysis, Forecasts, ICOs and Events for the week ending 8/31/2018

PricewaterhouseCoopers has surveyed six hundred top executives from fifteen different nations. From that survey more than 80% of those polled revealed that their firms are actively engaged in blockchain solution technology. The survey also reported that collectively, many executives stated the reason for their firm’s involvement was because; they didn’t want their firm left behind while their competitors advance using the new technology. Blockchain technology adoption is still held as the highest hurdle crypto currencies have to jump over. Statements like these seem to indicate that hurdle can be overcome sooner than later.

The list of primary players bringing blockchain technology to the forefront of daily life are Deloitte, HSBC, International Business Machines (IBM), and JP Morgan. When the 21st Money Team examines this list of backers, it stands out how two of them are always principal players when new technology is unveiled, IBM and JP Morgan. JP Morgan has a long history of being first on the scene and dominating new industries. The JP Morgan conglomerate masterminded the electrical wiring of New York and the production and sale of the light bulb and electricity. They were deeply entrenched in the steel industry during the height of the industrial revolution. That name always seems to be close to life changing innovations and their associated industries.

Then there’s IBM, the name we know when it comes to office technology. Let’s take a stroll down memory lane. The Selectric typewriter, the 1st of its kind, a printing device that could produce a variety of fonts on paper, in type, from a secretary’s desk, at her fingertips. And most importantly erase the mistakes cleanly. At the time, that innovation changed the world. There was one man that was savvy enough to take advantage of it. You may remember the film ‘Catch Me If You Can’ the documentary about Frank Abagnale, a con man who stole millions of US Dollars with the aid of a Selectric typewriter. The Selectric typewriter was present in every major office system around the world.

What was the name of the company that Bill Gates sold his first computer operating system to? The name IBM comes up once more, along with, the introduction of the desktop computer. Another innovation that was put in every office system around the world. And now we have the blockchain, with JP Morgan and IBM holding hands skipping down the street singing ‘Skip to My Lou My Darling.’ Coincidence? I don’t think so.

There are still some major obstacles to be overcome before blockchain is commonly accepted globally. The absence of globally accepted regulations and the high level of distrust in cryptos are still high hurdles to be overcome. These obstacles can be removed by players like JP Morgan and IBM. They have already proven they can remove the public’s apprehension surrounding new innovations from their triumphs in the past.

Forex News & Analysis

The Great British Pound (GBP) has surged in value. The value increase has been attributed to comments made by Michel Barnier, the chief EU negotiator for Brexit. His comments have been perceived as positive in regards to Brexit. That positive perception has brought the GBP to record a strong rally from its 1 year low of 1 / 1.27 paired against the US Dollar (USD). The GBP / USD exchange rate is at 1 / 1.3025, at the time of this writing. This is the 1st time the GBP has recorded this level against the USD in three weeks. It has been reported that there was a strong sell trend for the GBP in anticipation of more gloom and doom from the Brexit negotiators.

The stubbornness exhibited by the EU and UK negotiators had investors willing to accept the possibility of a no-deal Brexit. Meaning that the UK would depart from the EU on the date promised, with or without a treaty. Top analysts polled by Reuters expressed an opinion that the GBP may weaken to 1 / 1.20 paired against the USD in the case of a no-deal Brexit. Michel Barnier’s statements shed confidence on the prospect of a Brexit treaty. The GBP sellers have put their pounds back in their pockets and now have their eyes and ears wide open to see if the Brexit treaty can truly be a reality.

History books may all be appended soon, as the world becomes witness to a momentous event in world history and economics. The cessation of the UK from the European Union is history in the making. The statement that a Brexit deal is “…..within our sights” and will be “unlike any other deal with any third country,” from Mr. Michel Barnier is putting vigor and vitality in the value of the GBP.

A lucrative option may have presented itself to owners of Bitcoin and other cryptos. The GBP’s newfound strength may have the potential for it to be considered another alternative when exchanging cryptos for fiats. It’s like hitting a double in a baseball game with the bases loaded and 3 players reach home base. Making the right decision and creating gains in two separate assets, that’s a big hit, if the right market conditions exist.

Crypto Futures News & Analysis

One of the preeminent factors that can affect the price of Bitcoin in the future, is its availability for investment and its ability to be utilized by the general population of the world. Yahoo Finance has made Bitcoin, Ethereum, and Litecoin available for trading on its platform in some places of the world. That’s a major event in the life cycle of the top three cryptocurrencies. It’s a move that accelerates the acceptance of cryptos around the world. It helps to make everyone feel more comfortable with the new currencies. The Yahoo Finance Platform has just made Bitcoin, Litecoin, and Ethereum that much easier to access and trade in the crypto marketplace. Purchasing goods and services with Ethereum, Litecoin, and Bitcoin through Yahoo is more accessible as well. Yahoo / Verizon, newly wed and turning heads. The trading options were only made available to those that use the iOS operating system initially. There also seems to be an alliance forming between Apple and Verizon-Yahoo  during the early stages of global crypto acceptance. It has also been reported that the Japanese division of Yahoo will open a cryptocurrency exchange in Tokyo, Japan by April of 2019.

The news doesn’t stop there. It has been reported that CBOE Global Markets, the owner of the Chicago Board Options Exchange, will make an attempt to launch Ethereum futures on the CBOE later this year. The markets that the Ethereum futures will be based on will be provided by Gemini. Hold on to your hats. Statements made by a senior official of the Securities and Exchange Commission (SEC), provide a strong air of confidence the listing will be successful. William Hinman, head of the Division of Corporation Finance at the SEC, has stated clearly that Ethereum and Bitcoin are not securities, they are considered assets by that financial regulatory body of America.

Let’s look a little closer. The Winklevoss twins own and operate the Gemini Cryptocurrency Exchange. Which was the first cryptocurrency exchange licensed to transact trades of Ethereum cryptocurrency. The Winklevoss twins recently applied to the SEC to list an Exchange Traded Fund based on Bitcoin and were denied. CBOE World Markets applied to list a similar ETF, but the decision regarding their application was postponed. The decision will be determined and announced sometime in September. Aren’t the Winklevoss brothers also involved in creating a self regulating body for the advancement of cryptocurrencies, The Virtual Commodity Association?

As the pieces of this puzzle start to come together. Be assured the SEC will not give license to a financial product that they don’t have the manpower or resources to oversee and regulate effectively. No one behind the desks of that government agency will take the risk of creating another 2008 disaster (we hope). The 21st Money Team is of the opinion that the SEC is biding time until they have a system in place to regulate this new sector of financial products effectively. It’s all just a function of time and inevitability. The 21st Money Team will continue to watch these events unfold and keep you informed.

Crypto Stocks & Analysis

The Internet of things (IOT) and the cryptocurrency market are so intertwined. There are stocks that are offered in so many parts of the world that react to the movements of the cryptocurrency market. These companies may go unnoticed because they don’t make the headlines in your local news feed. Two aspects of the crypto / IOT relationship that deserve your attention are internet service providers and microchip circuit board manufacturers.

There is one fact that cannot be denied when it comes to cryptos.

If you don’t have access to the internet, you don’t have access to your crypto-wealth. Therefore, providers of internet service may also be on the receiving end of greater revenue resources as their service is being utilized by more subscribers. Subscribers that use the internet to complete transactions on a blockchain network. Secondly any type of circuit board or microchip configuration that enhances the visual experience or the speed of blockchain transactions, may  also add value to the facilitators and manufacturers of those enhancements with their intuitive circuitry.

For those that may have never looked East for investment opportunities, be enlightened, there’s an internet service provider (ISP) in China that has 85 million active users on their platform. This company has recorded a revenue intake of US $155 million from the previous year. Bilibili (BILI) has become a name to be reckoned with inside the ISP rodeo in China. Bilibili provides popular services to their customers such as video streams, mobile games, and live broadcasting.

Bilibili Inc. (BILI)  – Chart Courtesy of Yahoo finance

BILI launched their IPO March 28th of this year and raised $483 million through the sale. The recent surge in BILI’s value has been attributed to the 2nd quarterly earnings report, that beat the estimates of most analysts.

For those in the East looking West for a potential diamond in the rough. Advanced Micro Devices’ (AMD) 2nd quarterly earnings report has topped the estimate of many analyst monitoring its behavior. AMD has gained more than 30% in value since the report was issued on July 25th of this year.

Advanced Micro Devices, Inc. (AMD)  – Chart Courtesy of Yahoo Finance

On August 26th AMD announced the release of its new high performance graphics card, the Radeon Pro V340. The graphic card’s circuitry is designed to handle the most demanding data center visualizations.

One of AMD’s primary competitors is NVIDIA (NVDA). The world watched with amazement as NVDA’s value climbed 900% from 2016 to 2017. If AMD is able to build a better mousetrap than NVDA, maybe the $30 forecast from Hans Mosesmann of Rosenblatt Securities may become a reality. The 21st Money Team has been monitoring the movement of AMD and will continue to keep you informed.

This week’s Biggest Winners in Cryptocurrencies

1)  +230.33% onG.social (ONG) Started the week at $0.333 Ended the week at $1.10

2) +99.46% IoT Chain (ITC) Started the week at $0.186 Ended the week at $0.371

3) +96.15% GoCoin (GO) Started the week at $0.0312 Ended the week at $0.0612

4) +92.98% Noahcoin (NOAH) Started the week at $0.00113216 Ended the week at $0.00218479

5) +92.78% Arcblock (ABT) Started the week at $0.443 Ended the week at $0.854

6) +69.28% Raiden Network (RDN) Started the week at $0.332 Ended the week at $0.562

7) +56.20%  Dogecoin (DOGE) Started the week at $0.00234481 Ended the week at $0.00366253

8) +52.82% Waltonchain (WTC) Started the week at $3.03 Ended the week at $4.60

9) +48.47% Mainframe (MFT) Started the week at $0.00570443 Ended the week at $0.00846927

10) +43.46% QuarkChain (QKC) Started the week $0.0260 at Ended the week at $0.0373

11) +39.74% Wanchain (WAN) Started the week at $0.916 Ended the week at $1.28

12) +37.90% IOTA (IOT) Started the week at $0.504 Ended the week at $0.695

13) +34.37% Ambrosus (AMB) Started the week at $0.128 Ended the week at $0.172

14) +33.90% ICON Project (ICX) Started the week at $0.649 Ended the week at $0.869

15) +24.37%  Pillar (PLR) Started the week at $0.0755 Ended the week at $0.0939

Crypto Chart of the Week

 

 

 

 

 

 

 

 

 

 

IoT Chain (ITC) ranks 194th on the list of cryptos ordered according to their market capitalization. ITC’s current market cap is $22,820,000. IoT Chain is an IoT operating system based on the blockchain. IoT Chain (ITC) is developed as a lite operating system using the blockchain concept and implementing PBFT, DAG, SPV and CPS technology, allowing data to be layered and stored in a decentralised manner and providing protection with the combined strength of the millions of IoT nodes within the network.

The technology will result in an economy of sharing for Internet of Things (IoT) devices in a decentralized and energy efficient environment while producing a wealth of valuable user data which can be used as fuel for the development of AI with users rewarded for providing this fuel. $5,766,016.00 worth of IOT changed hands August 31.

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