|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||8.75 - 9.45|
|52 Week Range||3.66 - 13.98|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||8.35|
Bitcoin price spiked past $8,000 intraday, but Bitcoin and most other cryptocurrencies and Bitcoin-related stocks erased gains or turned lower.
After a brutal price crash in 2018 dropped bitcoin prices from near $20,000 to below $3,400, bitcoin has come roaring back so far in 2019. Bitcoin prices have only been above $10,000 two other times. In that instance, bitcoin prices ripped through $10,000 and hit its all-time high of $19,783 within roughly a month’s time.
New York, May 13, 2019 -- Grayscale Investments, LLC, a global leader in digital currency asset management, today released its 2019 Q1 Grayscale Digital Asset Investment.
Cryptocurrencies are staging a major come-back. For example, cryptocurrency Bitcoin bottomed out at around $3,360 at the start of the year and traded recently at $5,700. Now, with reports that Fidelity will roll out a crypto trading service within a few weeks, bet on prices firming up.Source: Shutterstock Fidelity is reportedly set to launch cryptocurrency trading service soon. A spokeswoman said that "We currently have a select set of clients we're supporting on our platform."Fidelity will focus on the Bitcoin cryptocurrency and will target institutional, not retail, customers. This is unfortunate for the crypto market because it would exclude two other major cryptocurrencies: Ethereum and Litecoin.InvestorPlace - Stock Market News, Stock Advice & Trading TipsSimilar to Bitcoin, Ethereum bottomed at around $154 and closed recently at $173. Litecoin traded as low as $31 in January and topped out at almost $92 on April 6. It settled at around $75 on May 6. * 7 Dangerous Dividend Stocks to Stay Far Away From Bitcoin Gains LegitimacyThe cryptocurrency market still struggles from getting taken seriously for a good reason. Fraud and theft are the chief problems the currency faces. Still, those caught stealing the currency are getting charged and indicted. For example, the man who stole $9 million was indicted in Israel.The bad news is that crypto theft is still growing at an alarming rate. Losses grew 70% from 2018 to $1.2 billion. This suggests that Fidelity will have to limit the growth of its service and tread carefully. It must prioritize security and threat detection first and foremost over everything else. Investing in Bitcoin ReboundAlthough investors will not have a chance to participate in Fidelity's entry in the crypto market, they could buy Grayscale Bitcoin Trust (OTC:GBTC) instead. Investors could buy the stock on the open market but should be aware of two things.First, the holding has a 2% annual fee. And second, it trades at a premium to the underlying Bitcoin. Investors could do more research to learn how to buy Bitcoin directly from exchanges. That would remove the unnecessary costs associated with gaining exposure in the cryptocurrency.Despite my concerns for GBTC, the stock is still a good trading vehicle for speculative investors. If Bitcoin rises, GBTC will go up, too. Likewise, if Bitcoin falls, GBTC falls. The stock has sufficient liquidity to allow for quick trades. Trade OverstockHolding shares of Overstock.com (NASDAQ:OSTK) is another way to indirectly play the Bitcoin boom. Per Overstock's website:"We partnered with Coinbase, a Bitcoin platform, to enable Bitcoin as a form of payment on Overstock.com…Unfortunately, Bitcoin payments are not yet accepted through our Mobile website. However, the Pay with Bitcoin option is now available for Overstock international customers."Unfortunately, Overstock failed to secure $100 million in a fund raise in April. GSR Capital, a Chinese firm, does not have a definitive deal as the firm carries out its due diligence first.If Overstock succeeds in getting the investment it needs for the Bitcoin subsidiary, its stock could attract crypto investors. The stock is in a downtrend, trading recently below $13 and down 27% in the last quarter.Although its underlying business lost money last year, management is now aiming to generate $10 million in operating cash flow in 2019. Having Bitcoin prices perk up and getting its subsidiary funded will help the stock move higher.On Wall Street, only one analyst covering OSTK stock has a $51 price target. Shares trade at three times below that level. So, even with the surging Bitcoin prices, Overstock shares are unlikely to trade at that level. Your TakeawayBitcoin is a volatile asset class that is no different from other commodities. Oil, gas, and gold (NYSE:GLD) are also commodities whose prices fluctuate. Investors with the appetite to trade the price movements in Bitcoin could make plenty of profits.Timing the entry price on the drop and the exit when the cryptocurrency surges are the harder aspects of the trade.Disclosure: As of this writing, the author did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Dangerous Dividend Stocks to Stay Far Away From * 7 Tips for New Investors Young and Old * 10 Great Stocks to Buy on Dips Compare Brokers The post Here's How to Invest in the Cryptocurrency Trading Services Boom appeared first on InvestorPlace.
Gold is often utilized by investors as a popular hedge against market dislocations, but is there a better store-of-value asset for our digital age? It’s time for investment portfolios to reflect that Bitcoin has become digital gold for today’s forward-thinking investors.
Bitcoin generated a bullish golden cross in its chart on Tuesday when the 50-day simple moving average crossed above the 200-day SMA. The golden cross is a bullish technical signal that occurs when shorter term bullish momentum overcomes a more bearish or neutral longer-term trend. Bitcoin’s golden cross is the first of its kind since 2015.
NEW YORK , April 17, 2019 /PRNewswire/ -- OTC Markets Group Inc. (OTCQX: OTCM), operator of financial markets for 10,000 U.S. and global securities, today announced the first quarter 2019 performance ...
Investorideas.com, a global investor news source covering blockchain and cryptocurrency issues a special edition of the Crypto Corner looking at recent news and developments in the cryptocurrency sector. Cryptocurrencies are experiencing a rise in price again, with bitcoin reaching its 400 millionth transaction recently. “Around 350,000 transactions take place every day across its (meaning bitcoin’s) decentralised blockchain, with many of these transactions currently passing through China where the majority of bitcoin mining operations are located, however this may soon be about to change.
A pair of cryptocurrency and blockchain industry insiders made some bold predictions about the disruptive potential of blockchain technology in recent days. On Saturday, founder and CEO of Block.one Brendan Blumer tweeted that bitcoin may soon make gold obsolete as a store of value. Bitcoin prices have tanked since peaking at nearly $20,000 in late 2017, and it now trades at around $4,070.
Ethereum is the latest cryptocurrency to experience volatility ahead of a hard fork, a split in a cryptocurrency that occurs when a blockchain is forked into two paths that require software upgrades to follow the new path. A new currency is often created following a hard fork if investors do not agree on which path to take following the fork. Last week, Ethereum announced its hard fork, called “Constantinople,” will occur when the blockchain hits block 7,280,000.
Bitcoin investment firm Grayscale had a challenging Q4 as inflows into its cryptocurrency funds shriveled up, but demand grew from retirement accounts.
Leading digital currency asset manager raised nearly $360 million across its products in 2018, a record fundraising year for the company Bitcoin remains the dominant digital currency for Grayscale investors; ...
NEW YORK, Feb. 13, 2019 /PRNewswire/ -- Grayscale Investments, LLC, a global leader in digital currency asset management, today shared its first ever webinar, hosted by CEO, Barry Silbert, and Managing Director, Michael Sonnenshein. Grayscale's investment products are available to institutional and accredited individual investors. Grayscale Bitcoin Trust™ (GBTC) and Grayscale Ethereum Classic Trust™ (ETCG) are also publicly quoted and available to all individual and institutional investors on the OTCQX® Best Market.
First investment vehicle to enable high net worth individuals and institutional investors to gain exposure to Stellar Lumens Grayscale also changed the names of its single-asset investment products NEW ...
After a huge year that put cryptocurrency on the radar of mainstream investors for the first time in 2017, 2018 was disastrous for investors. The cryptocurrency market lost roughly $700 billion in total market cap this year as the 2017 bubble burst and traders took what profits they could. The market cap of bitcoin alone dropped from $220.9 billion as of Dec. 31, 2017 to just $66.3 billion today.
Bitcoin ends the month with its best monthly gain in a year, and Grayscale Investments, which offers its publicly traded bitcoin trust, is running an ad urging investors to drop gold for bitcoin. Yahoo Finance's Zack Guzman and Sibile Marcellus are joined by Thornton McEnery, Dealbreaker Executive Editor, to discuss.
Grayscale Investments is launching a new national ad campaign that encourages you to buy Bitcoin and drop gold. CEO of Grayscale, Barry Silbert, joins Yahoo Finance to break down the details.
CryptoKitties is a collectibles game on the Ethereum blockchain where people buy and trade unique digital kittens. At its peak, people were paying more than $100K for a kitten. Where does CryptoKitties stand now? Caty Tedman, Head of Partnerships at Dapper Labs, the maker of CryptoKitties, joins us.