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The so called bitcoin bull Tom Lee sees cryptocurrency market to experience a massive outflow before the cryptocurrency taxes closing. Tom Lee is considered to be an authority on the bitcoin as he is the Managing Partner and the Head of Research at Fundstrat Global Advisors. His views are considered to be quiet solid and authentic about the crypto business.

crypto news

Alongwith the above predictions Tom Lee has also very optimistic views about the crypto currencies specially the bitcoin. According to him the current positive amendments and announcements about the cryptocurrency are the main factors that can undoubtedly act as a catalysts for the growth of bitcoin in the year 2018. He further predicted that at least 3 major publicly-traded corporations would short sure issue their own native digital tokens. And this prediction has been took serious in terms of valid crypto news as three major companies have already announced their efforts within crypto-currencies.

 

There are also clear indications that all the major financial corporations might start moving towards crypto-currencies before Wall Street makes its mind to do so. The Rakuten Coin is a well elaborated example of this progress, it was launched by the Japanese e-commerce company Rakuten. All these are the positive developments in terms of crypto market which are somehow related to the previous predictions made of Tom Lee.

Facts which do not Match Tom Lee’s Prediction

Though some of Lee’s predictions were a real good shot in the past but some of his famous flops in this regard should also be considered. For example the large sell-off in Bitcoin and other cryptocurrencies predicted by him at the start of this year was a total flop. The starting price of Bitcoin this year was above $17,500 which witnessed a rapid downfall to about $6,115 by February 6th. Though prices did recover with a steady pace but it was a shock for most of the investors which ultimately broke their heart.

 

Lee’s next price prediction for Bitcoin stands at $20,000 by June this year. He also gave a target of  $25,000 for the end of 2018. Other famous prediction by Tom Lee included that the famous social media network Facebook and ecommerce platform Amazon will announce its own crypto strategy this year.

Other Examples Cited By Lee

Some other significant examples cited by Lee are as follows:

 

Line, the famous Japanese messaging announced that it is going to launch “Line Financial”. It will be a division allowing users to exchange digital currencies.

Expected use of the blockchain technology by Starbucks. Moreover Mark Zuckerberg also announce in an online post this January that his company would look into cryptocurrencies this year

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It’s Confirmed! Twitter Is Going to Ban ICO Ads

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On Monday, the social media giant Twitter confirmed the rumours that it is going to follow Google and Facebook by banning cryptocurrency advertisements from the website.

According to the announcement, ICO ads, as well as advertisements related to exchanges, token sales, and wallet services (apart from public companies that are registered on the prime stock markets) will be removed from the site. A spokesperson said that the aim of this move is to make sure the safety of Twitter’s community.

twitter ico news

New Twitter Policy

This Twitter ICO news went viral as the social media giant clarified:

“We have added a new policy for Twitter Ads relating to a cryptocurrency. Under this new policy, the advertisement of ICOs (Initial Coin Offerings) and token sales will be prohibited globally.”

This latest twitter policy will be introduced within the next 30 days. But on the other hand, Twitter will be limiting advertisement for cryptocurrency exchanges in Japan to those, who are under the observation of the national financial regulator.

There were many rumours before that Twitter would ban advertisements related to cryptocurrency especially, when it was first reported by Sky News that such content would be banned from the Twitter’s platform within the next two weeks.

What Jack Dorsey has to say about it?

CEO of Twitter, Jack Dorsey, has conceded the proliferation of cryptocurrency scam accounts earlier, and pledged to crack down on bot accounts in search of cryptocurrencies from others.

Though, some of the site’s response exertions have led to account issues for standard users. According to Twitter, safety for users is the main motivator behind this ban. Few actions were also taken by Twitter in order to prevent accounts related to cryptocurrencies from engaging with others in an illusory manner, but then again it met calls to ratify more actions, subsequent to the bans from Google and Facebook.

Impact of Twitter’s Announcement on Crypto-Market

Cryptocurrency markets were already going through a slump, but after the announcement of Twitter banning cryptocurrency advertisements, the market fell even more.

While talking to Reuters, Kapronasia’s director of financial consultancy, Zennon Kapron mentioned the perils to Twitter itself and said:

“With the increasing number of ICOs coming to market, it is an impossible task for anyone, much fewer platforms like Twitter or Facebook, to keep on top of which ICOs and cryptocurrencies are genuine versus frauds… Although certainly, ICO advertising must have been a significant source of revenue for Twitter, the repercussions of fraudulent activities just weren’t worth the risk.”

In January 2018, Facebook restricted cryptocurrency advertising while the ban from Google was announced at the beginning of this month.

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Cryptocurrency-Mining Marked as a Malicious threat by Microsoft

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The continuous demand and popularity as well as a sudden increase in the prices of various types of cryptocurrencies has aroused a wide scale interest. Instead of all that popularity and demand, the future of digital currency is still uncertain due to many reasons.

Cybercriminals played a critical role in this scenario when they started to demand ransom in the form of cryptocurrencies, most notably Bitcoin, which is the most popular and precious of these cryptocurrencies. It was already expected due to the safe and anonymous transaction facility. As a result, the demand of cryptocurrencies increased and automatically led to the mining of cryptocurrencies.

That’s why Microsoft has recently released a blog post elaborating the increasing threats of malicious cryptocurrency miners. Let’s see what actually cryptocurrency mining is:

cryptocurrency mining

Cryptocurrency Mining

Talking in simple words, coin or cryptocurrency mining is the process of running complex mathematical calculations in order to maintain the blockchain ledger. Though this process gets you a very small amount of coins but it pays well as the prices have gone up during the past few years. As a matter of fact, cryptocurrency mining will celebrate its 10th year in 2019. Because of the continued use of high level computing and uninterruptible power supply, it is not a too much popular practice. It is an intensive task that requires significant resources from dedicated processors and other hardware including heavy duty graphic cards.

Measures from Microsoft to Block Miners’ Attack

As mentioned earlier, Microsoft has shown some serious concern in this regard. The main reason is that technically, cryptocurrency mining can come in various malicious forms and can be implemented in a lot of ways. The largest threat is the so-called cryptojacking. Cryptojacking refers to remote browser-based coin mining that uses background resources to mine when a user visits the malicious URL turning his computer into a host. The same thing can also infect your computer with unwanted applications, while some hackers might be able to modify the startup settings of your computer, so every time you boot it, the unwanted malicious application will run in the background affecting your system speed.

The main reason for Microsoft’s concern is the core issue associated with the loss of computer resources. Corporate setups can face a huge drain of their available resources.

Precautionary Measures

Fortunately, Microsoft has successfully blocked a major attack at the beginning of this month.

In order to stay protected, Microsoft has recommended to use advanced machine learning detection modes in Windows Defender ATP to identify and prevent such malicious threats.

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Future of finance

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Future of finance

On 14 august 2016, Swiss non-profit World Economic Forum conducts a study about bitcoin, the worldwide reputed currency. Of course, they accept bitcoins worth and assure that bitcoin is going to reshape the financial service including infrastructure.

Changing of infrastructure

With the supply of 21 million, bitcoin continually change the payment/ transaction system all over the world. Whereas, it already crosses the price of Gold and competes for Ethereum on daily biases.

Just imagine for a while that a country takes a risk of its financial sector by applying a new digital technology, it’s weird. In other words, it’s totally insane. In the same way, if people of any country get authority to change the weather, they can. That is why bitcoin asserts itself and largest countries of the world do investments through bitcoin. Countries including Sweden, Denmark, the United States of America, South Korea The Netherlands, Estonia, UK, Canada, Australia and much more do the heavy transaction through bitcoin.

It is basically a cryptocurrency and a payment system is using by the peoples of the world. Bitcoin was trending in 2013 between $10 to

$15 and then it exceeds to $1163 within the same year. Which means it grows day by day. A good software takes 10 years to get used to it. Whereas bitcoin was properly launched in 2009. Which means, this is the early age of the bitcoin.

Worldwide central banks are looking toward the bitcoin process of transactions between the countries. The study shows that up to 2040, currency may change its structure. And bitcoin is at the top of the list. Which allows doing transactions faster and more secure with low cost.

Financial sector

Bitcoin technology is going to directly affect the financial sector. No doubt, when you are adopting a new technology. You become, use of that technology. In the same way, bitcoin deals with the people in the transaction with low cost. They get more relax as compare to other cryptocurrencies. More than 80% banks are going to launch the new system regarding bitcoin.

If you know how to generate money, then you can easily maintain a good bitcoin account. It is an open transaction system, everybody can see the payment process.

As Bill Gates states about the future of finance,

in the future, financial services ltd will eventually “be digital, universal and almost free.” Bill Gates will push the Microsoft to use bitcoin in payment form or weave cryptocurrency in company’s nascent payments.

This thing is crystal clear that if people of any country get authorized, they can easily change the situation. They will use new technology, even use digital technology on their own behalf.

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Future of bitcoin finance

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Last Time to Buy Bitcoin as “Unreliable Sources” from China Spook Markets

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A Chinese journalist published a new article saying that China is banning ICOs and exchanges. The news was a Google translated article from a Chinese Journalist who claimed to have spoken to some official. Since there is no confirmation from a government official and no formal statement of any sort has been released, we can say that this news is possibly fake.
As we all know, the last time China banned Bitcoin, they took it back just a few months after.

However, this news might just be doing everyone a favor as this is probably the last time you can buy bitcoin at such levels.

Don’t Forget…

Bitcoin will survive with or without China, they’ve changed their mind before and they can do it again.

 

News Credits: cointelegraph.com

Image Credits: bitcoinist.com

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