Day: September 7, 2021

$500 Billion German Asset Manager Considers Adding Bitcoin to Existing Funds

by CryptoPotato

Union Investment – the investment arm of the DZ bank group – takes another small step towards offering crypto investment services to private investors. They will make Bitcoin a small percentage of some of their funds. 

Union Invest’s Experimentation With Crypto

As reported to Bloomberg news, portfolio manager David Barthe said that the company was considering adding Bitcoin to their funds in small amounts, comprising 1-2% of their portfolios. This will be starting at an unknown date in Q4.

This comes after the company included cryptocurrency within a mixed fund called Private Funds Flexible Pro for the first time at the start of this year. These came in the form of Delta 1 certificates. A Delta certificate gives investors exposure to an asset as if they were to directly own the asset themselves. 

Kamil Kaczmarski, a consultant for financial service providers at Oliver Wyman, says that his company has noticed greater interest among mixed fund managers in cryptocurrencies as of late. 

Union Investment currently has about $500 billion in assets under management.

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Access to Crypto for the Masses

Developments such as those at Union Investment are just one of many that are making exposure to cryptocurrencies easier for the average person. As further help for Germans, S Broker recently issued a combination of 40 Bitcoin certificates, Stocks, and ETFs allowing customers to invest in a wide array of Cryptocurrency assets. 

That said, access to a Bitcoin ETF in the United States may have to wait. The SEC currently has no plans to approve such an institution and may even wait until 2023 before considering that as a priority.

There are other ways of spreading Bitcoin exposure, however. ATM installations have been soaring in recent months, offering wallet owners a familiar method for buying and selling Bitcoin. According to the stats, most of these installations have been taking place in the United States.

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Analyst Lays Out Theory That Suggests A 290% Move In Cardano (ADA) Before Rally Is Over

by NEWSBTC

Cardano (ADA) has no doubt has an interesting couple of weeks leading up to this point. The digital asset has hit multiple new all-time highs as the rally raged on. Only now slowing down but still well above its last all-time high set in May of this year. The slowdown has seen the price of the asset lose its footing over $3, causing it to crash down below $2.70 for the first time in over a week.

This loss of momentum has led the market to believe that the asset might be nearing the end of its rally. But not everyone thinks so. Analyst Jason Pizzino has predicted that the altcoin still has a bit of fight left in it, predicting a 290% move before the end of this current bull cycle. An increase of this magnitude would put the price of ADA at nothing less than $7, solidifying its claim as the third-largest cryptocurrency by market cap.

The Theory Behind The Prediction

Jason Pizzino took to his YouTube channel to share his prediction with his over 200K subscribers. The prediction completely rests on the back of a single theory, the Elliott Wave theory. A theory that predicts the future price action of an asset by looking at extremes in investor psychology which comes in waves. So this is basically looking at investing patterns of the market.

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Related Reading | These Three Lagging Altcoins Are Poised For A Breakout, Says Crypto Strategist

This current theory puts every bull market in a series of cycles separated into five different waves. During waves 1, 3, and 5, the price of the asset rallies upwards. While waves 2 and 4 come with a price correction. For Cardano (ADA), Pizzino says the asset has completed four waves so far, including waves 2 and 4 which are the market corrections. Now, the fifth wave is imminent, which would lead to a massive price increase.

Pizzino puts the current downward correction as wave 4 while identifying the biggest wave so far as the price surge from $0.10 to $2.47, which occurred last month, as wave three. Since wave three is usually the biggest, Pizzino puts the fifth wave on par with the first wave, the surge from $0.01 to $0.17. Placing the fifth wave at only a 290% increase.

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Cardano (ADA) Price On The Rise

So far, it does not look like Cardano (ADA) has reached the end of this downward correction. But Pizzino points to it as part of the five-wave theory movement. Comparing it to the first wave that saw a 900% increase between April 2020 and July 2021, the analyst says, “I’m excited to see the waves play out similarly.”

Cardano (ADA) price chart from TradingView.com

Cardano (ADA) price chart from TradingView.com


Pizzino's prediction would put ADA price close to $10 | Source: ADAUSD on TradingView.com

Cardano still has a final card to play before the rally can be said to be truly over. The smart contracts testnet is currently live and developers have started building DApps on the network. But the release to the general public is still scheduled for September 12th. If all goes well with the launch, then this might be the event that triggers the fifth wave of Elliott Wave theory.

“What do we get if we do an 800% or 900% from the low that was put in in June and July? That would bring us to around our $8 mark. Maybe we hit a 1,000% return from that point. That’s going to bring us up to $10 or $11.”

Related Reading | New To Bitcoin? Learn To Trade Crypto With The NewsBTC Trading Course

Although optimistic about the asset from here, Pizzino issues a warning for investors. The potential for massive runs also comes with sharp downwards corrections that will reverberate through the market. “All good runs will come to an end,” says Pizzino.

Featured image from CreditDonkey, chart from TradingView.com

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Bitcoin, Ethereum and Crypto Prices Tanked Again. Here Are Two Reasons Why

by Decrypt

In brief

  • Bitcoin became legal tender in El Salvador.

  • The price of BTC went down.

  • The price of (almost) everything went down.

Anyone who gets crypto notifications on their phone can tell you that the markets tanked today, with 11% and 15% losses from Bitcoin and Ethereum, respectively, and a 13% drop in total crypto market cap in 24 hours, per data from CoinGecko.

What the notifications don’t explain, however, is why they’re correcting, or even crashing. After all, things have been going swimmingly, with Ethereum-based NFTs doing boffo business and Bitcoin becoming legal tender today in El Salvador.

That’s just it, said Vetle Lunde, an analyst with Arcane Research. “Such massive stories often lead the market to over-emphasize when pricing in the impact,” he told Decrypt. “This seems to have been the case this time around as well.”

Okay. So, traders betting on future prices got a little bit bullish. On June 4, the day before El Salvador President Nayib Bukele announced he’d be submitting a bill to make Bitcoin legal tender—a bill which was subsequently enacted and went into effect today—BTC was worth $37,000; over the course of three months, it crept back up to $53,000.

But when the day finally came, it dipped—a not all uncommon occurrence as many traders “buy the rumor, sell the news.”

But that dip was exacerbated by over-leveraged positions. On the exchange Bybit, for instance, crypto traders can get 100x leverage. That is, if you put in one-tenth of a Bitcoin, you can trade 10 Bitcoin. Leverage is fun when prices are going up, as it allows speculators without a lot of capital to benefit from bull markets. It’s not as fun when markets droop, as the downside of leveraged trades is that you get liquidated; the more leverage, the less of a price drop is needed before the exchange grabs your coins to avoid further losses. There goes the 0.1 BTC you put in.

When the price started to dip today, it was enough to trigger liquidations of those who were long on Bitcoin. In essence, there was a snowball effect because the drop prompted more people to sell, which triggered more liquidations, which led to more people selling. 

So that explains the Bitcoin. What about Ethereum and other crypto coins and tokens, though?

Said Lunde, “A very hefty and bullish appetite for altcoins in the last month might have contributed to exaggerating the chaos in the market.” 

Zoom out, and you’ll see it’s still been a very good month for altcoins. Cardano, for instance, which will launch smart contracts on its network this weekend, has risen in price 60%—even after taking today’s 17% fall into account. XRP is up 34% for the month, despite a 23% decline today. And Binance Coin lost 18% in the last 24 hours but still managed to add 15% to its price in the last 30 days.

Altcoin traders, too, reckoned the price would continue to rise. Before today, open interest in Bitcoin futures was trending upward to its highest level since May. Said Lunde, “Overall, crypto derivatives saw a 32% haircut in [open interest] following this correction.”

According to data from Bybt, a futures trading platform, $1.5 billion in Bitcoin has been liquidated in the last 24 hours, while $900 million in Ethereum suffered the same fate.

Immune from the mayhem, however, has been Solana. The price of SOL continues to set new all-time highs a few times every week. In the top 10’s sole bright spot, Solana flipped XRP to become the sixth-largest crypto by market capitalization. Users have glommed onto the smart contract-enabled network to take advantage of lower transaction fees and higher speeds than Ethereum. 

Though it didn’t invent decentralized finance or NFTs—both of which were created for Ethereum—it’s ridden demand for both to a 60% rise in the last week and an 8% bump today.

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Here’s What’s Next for Bitcoin, Ethereum, and Cardano After Market-Wide Dump, According to Analyst Michaël van de Poppe

by Dailyhodl

Widely followed analyst Michaël van de Poppe is laying out what he thinks could be next for Bitcoin (BTC), Ethereum (ETH), and Cardano (ADA) following the dramatic correction that saw more than $500 billion leave the crypto markets.

In a new strategy session, Van De Poppe says abrupt crashes are nothing new for Bitcoin and he believes that the market’s bull structure appears to still be intact.

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“We’ve seen it happening in every cycle and we’ve also seen it happening during those bull cycles back in the day. So this chain reaction to the downside needs to happen to liquidate everyone on the bottom. So every long has to be liquidated, the FOMO has to get killed in order to wash everyone out of the markets before the markets start to reverse…

If we’re going to regain $46,700, the structure still stands. This means that we’re still making higher lows. $46,700 to $47,000 is a very remarkable level for me. If we even get the chance to get to close above $49,000, which is the previous support zone, I think we’re done with this entire correction…”

Looking at Ethereum, the analyst identifies a critical support zone from which ETH can resume a bullish trend upward.

“If Ethereum is going to close above $3,400, we are quite sure that the low is in and it’s going to continue moving from here. When we are looking back at the price structure, we see that we’ve had those washes in the beginning as well.

We’ve seen crashes happening, we’ve seen drop-downs happening. And after that the markets just reversed, because such a deep wick as this one shows that there’s actually interest from the markets, causing bias pressure.”

As for Cardano, Van De Poppe says ADA has a strong support level at $2.00 and would need to close above $2.45 before an upward trend can continue.

“Most likely, especially if Cardano is going to close above $2.45, we’re going to see bullish continuation.”

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Popular Crypto Strategist Says Traders Are Sleeping on Chainlink, Predicts New All-Time Highs for Two Emerging Altcoins

by Dailyhodl

A closely followed crypto analyst says traders are sleeping on Chainlink while predicting new all-time highs for two emerging altcoins.

The pseudonymous trader, known in the industry as Pentoshi, tells his 258,200 Twitter followers that he sees the decentralized oracle network significantly outperforming Bitcoin in the coming weeks.

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“I think people are sleeping on LINK. Very little chatter yet massive things going on in front of people’s eyes I won’t be surprised if price is a lot higher in the next 4-6 weeks.”

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Source: Pentoshi/Twitter

According to Pentoshi’s chart, the LINK/BTC pair looks poised to take out key resistances en route to his target of 0.0011 BTC, worth $57.82 at time of writing. The move represents an upside potential of nearly 70% from its current value of 0.00065 BTC or $34.17.

The crypto trader is also tracking layer-2 scaling solution Polygon (MATIC), which he says has taken out resistance at $1.62 and is now ready to move above its all-time high of $2.70.

“I don’t think it’s long before price discovery on this. Probably this month or at least [all-time highs]. Likely flags out on this short term and breaks up. I like this chart a lot and has the FA (fundamental analysis) to go with it.”

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Source: Pentoshi/Twitter

Another coin on the trader’s radar is Algorand (ALGO), a cryptocurrency for payments and a blockchain for decentralized finance applications. According to Pentoshi, ALGO is gearing up to break its long-term diagonal resistance to launch a new uptrend.

“Bringing back this oldie Current ALGO chart reminds me of the [original] chart. Looks good on both [USD and BTC] pairs. Above green = repeat of moon and portal gun shot heard around the world.”

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Source: Pentoshi/Twitter

Should ALGO follow the trader’s script, the crypto asset can surge to a new all-time high above $2.11, marking an upside potential of over 42% from its current price of $1.48.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Tithi Luadthong

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Is BitGo Behind El Salvador’s Chivo Wallet? This Old School Mag Thinks So

by NEWSBTC

Where did BitGo come from? In all of this time covering El Salvador’s Bitcoin Law, the name wasn’t in the picture. Now, all of a sudden, Forbes claims that BitGo’s technology is behind the controversial Chivo wallet. How and when did this happen? Or, more importantly, is this real news or a paid piece to take advantage of the “historic moment for cryptocurrency adoption.” 

Related Reading | NewsBTC Crypto Trading Course. For FREE.99

Not to be conspiratorial, but Forbes’ tone through this whole piece has a press-release-feel to it.

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“For months, El Salvador has kept many of Chivo’s details under wraps with the nation’s 40-year-old president, Nayib Bukele, teasing the wallet’s launch on Twitter just last week. However, Forbes has learned El Salvador appears to have tapped cryptocurrency unicorn BitGo to provide Chivo’s wallet infrastructure and security platform, making the Palo Alto, Calif-based startup the nation’s exclusive hot-wallet provider in a historic moment for cryptocurrency adoption.”

What’s all this about “cryptocurrency unicorn BitGo” and “the nation’s exclusive hot-wallet provider in a historic moment”? Is this the appropriate vocabulary for a legacy media publication like this one? The most worrying sentence, however, is “Forbes has learned El Salvador appears to have tapped…” They’re not committing to anything here. It “appears” this way, but nothing is certain.

BTCUSD price chart for 09/07/2021 - TradingView

BTCUSD price chart for 09/07/2021 - TradingView


BTC price chart for 09/07/2021 on Bitstamp | Source: BTC/USD on TradingView.com

What Does BitGo Say About The Announcement?

Not El Salvador’s government, nor Strike commented on the Forbes piece. They did get a quote from Mike Belshe, CEO of BitGo, who said:

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“Digital assets look so different from what we’ve seen with other types of money, and so people wonder about how [they] fit in, but this is an opportunity to build financial freedom for the people of El Salvador” says BitGo CEO Mike Belshe, speaking from his home in Silicon Valley on Saturday. “The ability to send money in a hurry on a Saturday night, when banks are closed, across the planet and at almost no fees, it’s hard to put into words how empowering that is, and what we’ll see in El Salvador is, people will start figuring it out.” 

Did Belshe confirm the news? Is BitGo behind the Chivo App? He talks about “an opportunity to build financial freedom for the people of El Salvador.” So yeah, assuming Belshe was talking about this specific rumor, he seems to confirm the news. Indirectly. In a non-comital way.

To make things worse, the article ends presenting BitGo as their own marketing material would:

“Founded in 2013, BitGo has grown into one of the biggest cryptocurrency wallet companies in the world, raising more than $70 million in funding from investors including…”

Let’s Remember, What Did Strike Say About The Subject?

Strike’s Jack Mallers has met with the Bukeles, announced El Salvador’s Bitcoin adoption, and the company has an office at Bitcoin Beach. Everyone was assuming that the technology behind the Chivo wallet was going to be Strike’s. However, if we go back to the interview in which Mallers told the whole story, our sister site Bitcoinist quotes him saying:

“There’s no commercial agreement between Strike and the government of El Salvador.

“In fact, I advised and gave my opinion of the opposite. The economies of scale and network effects associated with open networks are so powerful. Just by plugging in to them you’re going to get the freemarket competition that every country would die for.”

Related Reading | Tomorrow, The Community Will Buy $30 In BTC To Support El Salvador’s Bitcoin Law

Did President Bukele take his advice and went with another company? Can we trust Forbes even if it sounds like a copy-and-pasted press release? Is BitGo’s technology behind the Chivo Wallet? We will know for sure very soon.

Featured Image by Chräcker Heller from Pixabay - Charts by TradingView

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Bitcoin Suffers 10% Pull Back On El Salvador’s Debut, Funding Rates Dip

by NEWSBTC

Bitcoin’s price plummeted over 10% on early Tuesday, as El Salvador announced that it would officially accept the major cryptocurrency as the nation’s legal tender. 

According to CoinMarketCap, Bitcoin’s slump from Monday accelerated as the crypto failed to hold its $50,000 price level — sliding from $51,000 to $44,700 within a single hour. The sudden sell-off resulted in $1.44 billion in futures liquidations of Bitcoin trades in the past 24 hours, according to data from ByBt. 

The single largest reported liquidation occurred on Huobi-BTC — worth $43.7 million at the time. As expected, the vast majority of the liquidations were longs, representing about 88% of the total liquidations. 

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Since dropping to weekly lows, the price of Bitcoin rebounded up to as high as $47,500. At press time, BTC is hovering at $46,500 across major exchanges Binance, Coinbase, and Huobi. 

Bitcoin (BTC/USD)

Related Reading | New to Bitcoin? Learn to Trade Crypto With the NewsBTC Trading Course 

Following the brunt of the pullback, El Salvador president Nayib Bukele tweeted that he is “[b]uying the dip,” purchasing another 150 BTC worth about $6.9 million, adding on top of the 400 BTC position. The average cost of the purchase appears to be around the $46,000 price range. 

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Is This the “Reset” Bitcoin Needed to Trend Higher? 

Data from Glassnode shows that the mean Bitcoin funding rate (average across all exchanges) had steadily increased throughout August.

Funding rates rose from 0.015% in early August to as high as 0.03% at the start of September.

Derivatives exchange ByBit saw its funding rate rise to as high as 0.085% in late August.

Relatively high funding rates can indicate that the market is overheating, with too many traders being overleveraged. More often than not, high funding rates will lead to a pullback — which was the case earlier this May. 

More specifically, funding rates on major exchanges Binance and Huobi dropped to 0.023% and 0.021% at the peak of the sell-off. OKEx, on the other hand, reverted to a negative funding rate of -0.009%, per Bybt. 

As Bitcoin and the broader crypto market slightly recovered from the sell-off, funding rates have stabilized at 0.01% for Binance, Huobi, and ByBit. Funding rate on OKEx remains at a negative of -0.0005%.

With the futures market cooling down, it’s likely that price levels will begin to stabilize once again. 

Featured image from UnSplash

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El Salvador’s Bitcoin Play Starts With a Price Crash, Technical Difficulties

by Decrypt

The labor pains associated with Bitcoin becoming legal tender in El Salvador have been rough: Protests in the streets, critics arrested by police without charge, rebuke from international organizations, and a state of national uncertainty have set the tone over the last 90 days—ever since President Nayib Bukele set the country down this path.

But now that Bitcoin is officially legal tender in El Salvador, the first few hours of the experiment’s life have not been pleasant either—starting with the market’s apparent reaction to today’s launch.

Bukele last night announced the purchase of 200 Bitcoin (worth roughly $10 million, at the time), and revealed that the country had already purchased 400 BTC for its reserves. At the time, the price of Bitcoin was above $50,000 per coin, approaching $53,000, seemingly buyed by enthusiasm. Hours later, however, Bitcoin plummeted by more than 10%, handing El Salvador its first few million dollars in losses as a result of the asset’s volatility.

Bukele responded today by saying he bought the dip, adding 150 more Bitcoin to the country’s stash, for a total of 550 BTC. He did not specify the purchase price.

Chivo Wallet, where are you?

Beyond the market’s movements today, El Salvador’s first day with Bitcoin as legal tender has also been marred by technical difficulties. The government’s official Bitcoin wallet, known as the “Chivo Wallet,” is currently unavailable on the official Android app store, so those looking to use it must turn to third-party stores with less transparent security policies.

The government is recommending that its citizens use Huawei’s App Gallery.

Earlier today, however, Apple released the link for Chivo Wallet on iOS.

But anyone who has managed the down the wallet through a third party has by now found out that, within hours of completing the know-your-customer onboarding process (i.e. divulging the necessary identification information), the wallet stopped working.

According to Bukele, the Chivo development team decided to pause the wallet’s operation to update the servers in anticipation of the heavy workload ahead. “Any data you try to enter at this time will give you an error. The system is offline while the capacity of the servers is being increased. It’s a relatively simple problem, but it can’t be fixed with the system online.” he said in an official statement.

In the meantime, users can turn to their Bitcoin wallet of choice—though they won’t be eligible for the $30 in Bitcoin gift that the government is offering them. That’s only available to Chivo users.

But those lucky enough to claim those $30 worth of Bitcoin won’t be able to swap it for U.S. dollars, according to local reports. Instead, they will have to use the funds in affiliated markets, according to statements from the Chivo Wallet team shared by local news outlet Factum.

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Top Cryptocurrencies See Red After Bitcoin Suffers Flash Crash

by Forbes

Several major cryptocurrencies suffered losses today, pushing lower after bitcoin declined significantly in a relatively short period of time.

Of the 1o top digital assets listed on Messari, nine were in the red at the time of this writing.

Bitcoin, ether and cardano’s ada, the top three cryptocurrencies, were all down at least 10% in the last 24 hours at the time of report, additional Messari figures show.

XRP and Polkadot’s dot token were down even more, having plunged more than 20% during the same 24-hour period.

[Ed note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment.]

Bitcoin’s Flash Crash

These across-the-board losses took place after bitcoin fell sharply, dropping below $43,000 around 11:30 a.m. EST after trading north of $52,000 earlier in the day.

Several market observers emphasized that bitcoin suffered this downside amid robust selling activity.

Joe DiPasquale, CEO of cryptocurrency hedge fund manager BitBull Capital, spoke to this, noting that “today’s BTC crash was a result of significant selling with high volumes.”

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He also spoke to the impact that this downward movement had on other cryptocurrencies, adding that “Bitcoin’s sharp decline shook market confidence, resulting in losses all around.”

El Salvador

Interestingly enough, major digital currencies suffered widespread declines the exact same day that El Salvador started adopting bitcoin as legal tender, making it the first country to do so. While many welcomed this milestone, it coincided with significant volatility.

This event introduced greater uncertainty into the cryptocurrency markets, said John Iadeluca, founder & CEO of multi-strategy fund Banz Capital.

“I think there has been uncertainty associated with the reception of Bitcoin as legal tender in El Salvador recently which seems to be pushing Bitcoin’s, and subsequently the wider crypto markets’ prices downward,” he stated.

Markets responded strongly, and the situation devolved into panic selling, said Iadeluca.

David Schwartz, project director of the Litecoin Foundation, also weighed in, stating that while whatever started this whole market downturn was “probably coordinated,” the whole situation “spilled into some panic selling.”

Disclosure: I own some bitcoin, bitcoin cash, litecoin, ether and EOS.

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Fetch.ai (FET) ignores the Bitcoin-led market meltdown by notching a 60% gain

by Cointelegraph

The real-world adoption of blockchain technology is a slowly developing process that requires the right use cases and a willing public who are open to new experiences to be obtained when one ventures outside of their comfort zone. 

An increasing number of real-world applications appear to be the motivating factor behind the recent gains seen in Fetch.ai (FET), a protocol focused on building an open access, tokenized-based decentralized machine learning network that aims to support the smart infrastructure being built around the digital economy.

Data from Cointelegraph Markets Pro and TradingView shows that after hitting a low of $0.658 on Sep. 6, the price of FET spiked 70% to a new record high at $1.12 on Sep. 7 as its 24-hour trading volume surged 538% to $590 million.

FET/USDT 4-hour chart. Source: TradingView

The rapid increase in price and trading volume comes as the project tests a new multi-modal transport application called Deep Parking, an application built with AI and blockchain technology that helps automobile drivers locate empty parking spaces.

The protocol has also achieved a “global first” on Sep. 7 when an on-board Fetch AI agent successfully interacted with Datarella’s self-sovereign identity to allow the driver to rent a scooter from TEIR mobility.

Related: Fetch.ai launches NFT platform for AI-generated art

VORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for FET on Sep. 3, prior to the recent price rise.

The VORTECS™ Score, exclusive to Cointelegraph, is an algorithmic comparison of historic and current market conditions derived from a combination of data points including market sentiment, trading volume, recent price movements and Twitter activity.

VORTECS™ Score (green) vs. FET price. Source: Cointelegraph Markets Pro

As seen in the chart above, the VORTECS™ Score for FET began to pick up on Sep. 3 and reached a high of 71 around 48 hours before its price began to increase by 70% over the next two days.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.