Ethereum (ETH) – Much awaited U.S news a test of investor resilience: Are you a weak or a strong hand?


Ethereum (ETH) is at a historic moment, one that could change its future trajectory for good. Currently, U.S regulators are holding a meeting, to decide on whether Ethereum is a security or not. The whole issue relates to the Ethereum ICO in 2014. According to U.S regulators, people who bought into Ethereum at the time did so with an expectation of profit. They also argue that the Ethereum foundation has a tremendous influence over the value of Ethereum, a scenario that would make Ethereum an unregistered security.

In the case that they declare Ethereum to be a security, the value of Ethereum could drop significantly.  That’s because Ethereum would end up engaged in protracted legal battles with U.S authorities. On top of that, there would be an increased uncertainty amongst investors on the future of Ethereum, leading to a sell off.
However, in the case that they decide that Ethereum is not a security, then it would be a real turning point for Ethereum.

Ethereum ETH

The world will have a global cryptocurrency, but it won’t be bitcoin, says ex-Goldman president Gary Cohn


  • “I’m not a big believer in bitcoin. I am a believer in blockchain technology,” former Goldman Sachs President Gary Cohn told CNBC’s Bob Pisani in a “Squawk on the Street” interview.
  • “I do think we will have a global cryptocurrency at some point where the world understands it and it’s not based on mining costs or cost of electricity or things like that,” Cohn said.
  • He expects the digital coin of the future will be simpler than bitcoin. “It will be a more easily understood cryptocurrency,” Cohn said.

Former Goldman Sachs President Gary Cohn said Tuesday he thinks the world will have a global cryptocurrency that is not bitcoin.

“I’m not a big believer in bitcoin. I am a believer in blockchain technology,” Cohn told CNBC’s Bob Pisani in a “Squawk on the Street” interview.

“I do think we will have a global cryptocurrency at some point where the world understands it and it’s not based on mining costs or cost of electricity or things like that,” he said. Cohn resigned in early March from his role as chief economic advisor to the Trump administration.

Gary Cohn

Bitcoin Price Is Correlated To Stocks


In market legend traders take naked directional positions and make their fortunes by predicting the future. According to theory, this is an impossible task.

The trading industry won’t have you believe this because their pay checks often depend on the imaginary gift of calling market direction. The history of Wall Street is strewn with amazing traders that were genius and massively profitable when the trend was with them but crashed and burned when the trend got to a bend in the end.

So what do you do when you are a financial institution that the Federal Reserve offers infinite money to for almost free? You’d better find yourself a way of trading with that money that isn’t going to blow up, that you can get quickly back, and that pays a fat coupon beyond what the Fed is going to charge you.

Bill Gates: I would short bitcoin if I could


  • Bitcoin and other cryptocurrencies are “kind of a pure ‘greater fool theory’ type of investment,” Microsoft co-founder Bill Gates said Monday on CNBC’s “Squawk Box.”
  • “I agree I would short it if there was an easy way to do it,” he said.
  • Gates added someone once gave him some bitcoin for his birthday, but he sold it a few years afterward.

Microsoft co-founder Bill Gates said Monday he would bet against bitcoin if he could.

“As an asset class, you’re not producing anything and so you shouldn’t expect it to go up. It’s kind of a pure ‘greater fool theory’ type of investment,” Gates said on CNBC’s “Squawk Box.”

“I agree I would short it if there was an easy way to do it,” he said.

 The price of one bitcoin briefly soared $2,000 last year to above $19,000 in mid-December. The cryptocurrency has since lost more than half its value and was trading near $9,300 on Monday morning. Roughly $9.8 billion has been raised through sales of new coins, or ICOs, since 2016, according to financial research firm Autonomous Next.
Bill Gates

Ethereum price analysis – Temporary downwards price correction


After rising to a week high of $838 on Sunday, a downwards price correction attempt began pulling ethereum price downwards to a day low of $685 on Monday. Even though the price of ether dipped below the support level around $713.24, it rose within less than 8 hours above this significant support level which corresponds to the 61.8% Fibonacci retracement. The market’s bulls took the upper hand again after this temporary overshoot below this seemingly strong support level. Right now, ethereum price is below the upwards trend line which has been marking the market’s movement since April 7th.

Will the price of ether rise again towards the resistance around $849.08?