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‘Bіtсоіn Mіѕеrу Indеx’ Indісаtеѕ Nоw іѕ A Gооd Time Tо Buy



The “bіtсоіn mіѕеrу іndеx” сrеаtеd bу Wаll Strееt strategist Thоmаѕ Lee іndісаtеѕ thіѕ is a gооd tіmе tо buy bitcoin, ассоrdіng tо CNBC. Lее dіd not сhаngе hіѕ tаrgеt price by mіd-уеаr оf $ 20,000 and his $ 25,000 tаrgеt fоr bitcoin lаѕt year.


Lее, со-fоundеr of Fundѕtrаt Glоbаl Advіѕоrѕ, told CNBC’ѕ “Fаѕt Money” Frіdау thаt whеn the bitcoin mіѕеrу іndеx fаllѕ bеlоw 27, Bіtсоіn ѕееѕ thе bеѕt performance оf 12 mоnthѕ. Such a ѕіgnаl occurs еvеrу уеаr, said the ѕtrаtеgіѕt.


The lоwеѕt реrсеntаgе since Sерtеmbеr 2011

The index nоw stands at 18.8 оn a scale of 100 аnd rеасhеѕ the lowest роіnt since Sерtеmbеr 6, 2011.

Lее ѕаіd the index аllоwѕ a wау tо mеаѕurе hоw Bіtсоіn іѕ happy or hоw muсh.


The index wаntѕ tо bе thе орроѕіtе іndісаtоr. If іt іѕ lоw, іnvеѕtоrѕ have to buу. If іt’ѕ high, they hаvе tо sell them. Thе index rерrеѕеntѕ the numbеr of wіnnіng trаnѕасtіоnѕ іn total transactions. Thіѕ аlѕо еxрlаіnѕ thе еvароrаtіоn.


At thе еnd оf last wееk, Bіtсоіn’ѕ рrісе fеll by 24% compared tо thе hіgh of Mоndау fоllоwіng hіghеr rеgulаtоrу reports.


The lоw роіntѕ signify раіn, еvеn though thеу are short-term signals. Lоng-tеrm, Lее said thе lоw роіntѕ соuld point tо a grеаt entry wау іntо bіtсоіn.


Whаt Pаѕt Pаttеrnѕ Fоrеtеll

The last four times thаt thе index dropped below 27 іn Bitcoin’s mіѕеrу index, bitcoin never сеаѕеd lіftіng 12 months lаtеr, Lee ѕаіd.


Lаѕt wееk wаѕ difficult for bіtсоіn. A lаrgе ѕtосk market in Hong Kong rероrtеd оn Wеdnеѕdау that ѕоmе ассоuntѕ mіght bе thrеаtеnеd. At thе ѕаmе time, the U.S. Securities and Exchange Commission increased іtѕ ѕсrutіnу of сrурtосurrеnсу wаllеtѕ аnd еxсhаngеѕ. On Thurѕdау, Jараn suspended twо сrурtосurrеnсу еxсhаngеѕ frоm operating fоr a mоnth аnd саllеd for business іmрrоvеmеntѕ аt fіvе оthеr еxсhаngеѕ.


It wаѕ аlѕо rероrtеd Wednesday thаt thе truѕtее оf thе nоw defunct Mt. Gox еxсhаngе sold аbоut $400 million wоrth of bіtсоіn and Bіtсоіn Cаѕh.


Bіtсоіn trаdеd more than 3.5 реrсеnt lоwеr Frіdау morning, around $8,900. Whіlе іt rеmаіnѕ more thаn 800 percent hіghеr thаn whеrе it was a year аgо, іt hаѕ lost more thаn 50 percent frоm its rесоrd hіgh оf mоrе thаn $19,000 іn mid-December.


Lее ѕаіd іt іѕ vеrу unсоmmоn tо be thіѕ unhарру owning bіtсоіn. Thе last ѕuсh реrіоdѕ wеrе Nоvеmbеr of 2012, September оf 2016 аnd Jаnuаrу оf 2015.


In еасh саѕе, bіtсоіn wаѕ hіghеr іn thе fоllоwіng mоnth.


Also read: Strategist Tоm Lее рrеdісtѕ new аll-tіmе hіghѕ fоr bіtсоіn in Julу


Lee: Hоld On Onе Tо Thrее Wееkѕ

Lее ѕаіd thе іndеx іѕ tеllіng реорlе tо wаіt it out for thе nеxt one оr twо or thrее wееkѕ.


Hе is thе оnlу major Wаll Strееt ѕtrаtеgіѕt tо іѕѕuе regular bitcoin rероrtѕ and formal price tаrgеtѕ. Prіоr to со-fоundіng Fundstrat, he wаѕ сhіеf еԛuіtу ѕtrаtеgіѕt аt J.P. Mоrgаn Chаѕе.


Lее maintained hіѕ mіdуеаr рrісе target оf $20,000 аnd hіѕ еnd уеаr рrісе target оf $25,000 fоr bitcoin.

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You Can Swap Leftover Euros For Bitcoin At The Amsterdam Airport




The international airport in Amsterdam named ‘Schipol’ has recently installed a cryptocurrency ATM that lets any passenger convert their Euros into Bitcoin or Ethereum.

The airport revealed the new system in an announcement on Wednesday, where it assessed the demand for the two most prominent cryptocurrencies over a six-month trial in an initiative that is the first of the kind in any European airport.

With a strategic location right near the airport’s departures terminal, the ATM lets outbound travelers convert the remainder of their Euros into one of the two largest cryptocurrencies by market cap. The exact location of the ATM is the Arrival Hall 2 which can also be accessed by the corridor to Departure Halls 1 and 2 – places where there is a frequent flow of departing passengers.

According to the director of consumer products and services at the Amsterdam Airport Schiphol, Tanja Dik:

“With the Bitcoin ATM, we hope to provide a useful service to passengers by allowing them to easily exchange ‘local’ euros for the ‘global’ cryptocurrencies Bitcoin and Ethereum. That can be beneficial if, for instance, it’s not possible to spend euros in their home country.”

Right now, the 2-way ATM accepts euro bills and has been installed in a partnership with ByeleX which is a Dutch software services company that offers crypto ATMs through a subsidiary named ‘Byecoin’.

The concept of allowing travelers to use cryptocurrencies at airports definitely negates the hassle of heightened conversion fees if the fiat money is being exchanged for any other national currency.

Meanwhile, the airport in Amsterdam is not the first one on the list to be linked to cryptocurrencies. Australia’s Brisbane airport – which is the country’s third busiest one by passenger traffic – also introduced crypto payments at a number of retail establishments earlier this year.

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Bithumb Confirms The Theft: ‘The $30 Million Will Be Compensated To Investors’




The largest cryptocurrency exchange, Bithumb, has confirmed that their exchange was hacked and that around $30 million was lost, leading many investors to panic. The official confirmation came today, on June 21st, revealing that approximately $30 million was stolen and the amount could decrease after the different recovery efforts that the exchange is taking.

The team behind Bithumb has stated that the exchange fell victim to a hacking attack and lost $30 million in digital assets. In the statement, Bithumb said:

“We checked that some of cryptocurrencies valued about $30,000,000 was stolen. Those stolen cryptocurrencies will be covered from Bithumb and all of assets are being transferring to cold wallet.”

Almost immediately after this announcement was released, Bithumb retracted its statement without providing further clarification of the situation. One spokesperson from the company said that Bithumb retracted the statement because of the comprehensive investigation that has been undertaken before the statement should have been released.

Today, the team behind Bithumb officially confirmed that $30 million has been lost in the hacking attack and that the developers and security team behind the exchange already started the recovery process.

As the Bithumb team said:

“After the incident occured on June 20, Bithumb quickly followed the procedure to immediately report [the] incident to KISA announcing that about 35 billion Korean Won worth amount of cryptocurrency was stolen. However, as we undergo recovery process on each cryptocurrency, the overall scale of damage is getting reduced. Hence, we expect that the overall damage will be less than the amount we initially expected,”

The method of recovering a portion of the stolen funds has been finally found. Bithumb has officially stated that it will fully compensate the losses of its investors with company funds. The statement reads the following:

“Bithumb has been administering company’s asset and customers’ asset, and all customers cryptocurrencies, as well as KRW asset, are safely stored on cold wallet and bank respectively. Moreover, we would like to ensure that Bithumb currently has about 500 billion KRW worth of company’s fund. The amount of damage that occured this time will be fully covered by Bithumb’s own company fund.”

By the end of 2017, the exchange disclosed its holdings being over a billion dollars – and its net profit being around $300 million. This makes Bithumb one of the largest exchanges in the world.

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15% Of Metropolitan Bank’s Deposits Are Owned By Crypto Investors




The popular commercial bank based in New York, Metropolitan Bank, recently revealed that more than 15% of the bank’s deposits are made by cryptocurrency investors and clients. The bank also said that they are willing to continue the support for digital asset traders.

The CTO of Metropolitan Bank, Nick Rosenberg, recently stated the following in an interview with Leigh Cuen of Coindesk:

“We’re certainly very interested in growing this vertical. We’ve learned that it’s a serious industry. There are some very smart people involved. There are some very interesting ideas coming out that could really change the way people do business.”

Rosenberg also admitted that the bank recently learned how serious the cryptocurrency market is and how important it is for banks to support it. On top of that, recognizing the rapid growth rate of digital asset exchanges and the entire market have made it harder for commercial banks to dismiss the cryptocurrency market and be left behind.

Joe Ciccolo who is the president of compliance service provider BitAML shared similar thoughts about banks adopting cryptocurrencies. He said that banks like Metropolitan Bank in the US and Shinhan Bank of South Korea must take the compliance risks involved in dealing with this growing industry.

In his own words, Ciccolo stated:

“It’s very difficult for a bank to maintain a pro-bitcoin stance. If you have a new officer come into a financial institution, they may take the opportunity to put a different stance on high-risk customers such as crypto companies,”

Currently, there are many major commercial banks who are aware that digital asset investors need places to store the billions of dollars that they own in a safe manner. This is where the cryptocurrency market comes as useful – especially in a period where many financial institutions are sitting on the sidelines.

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Meet Poketoshi, The Game That Brings Nintendo’s Pokemon Onto The Bitcoin Lighting Network




One software engineer named Joao Almeida coming from Portugal, has recently created a new platform that allows people to play the iconic Nintendo Pokemon game on the Lighting Network (LN). The name of the game is ‘Poketoshi’ and the news about it have been reported in the Next Web today.

As you probably know, the Lighting Network is a second-layer solution to Bitcoin’s scalability limitations. It is a network that opens the payment channels between users that keep the majority of the transactions off the chain, turning to the blockchain that underlies in it.

The ‘Poketoshi’ game uses this network along with the live streaming video platform Twitch which allows users to interact with the game in an online chat room – just like the existing ‘Twitch Plays Pokemon’ series.

It is also a game that implements a Lighting Network-enabled virtual controller so that users can enter their gaming commands. The game ‘charges’ 10 Satoshi per command with one Satoshi being equal to one hundred millionth of a single Bitcoin.

The payments on the platform will be facilitated through OpenNode, which is a Lighting-enabled Bitcoin payment processor. As such, the game is a playful way of testing the Lighting protocol’s ambition to facilitate off-chain instant BTC payments at high volume.

According to The Next Web, there are several users of the game which are making allusions to the rivalry between Bitcoin Cash (BCH) as well as LN advocates which argue that the BCH hard fork is a better answer to Bitcoin’s scalability compared to LN’s second layer solution.


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