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Unlimited Demo Account Start trading now | The trend was very firmly down for the Bitcoin price in the last seven days. It started out at $9,444 on Tuesday, wobbled around for a few days and then on Thursday it dropped to $9,088. Friday saw an even bigger fall, then on Saturday it reached a low for the week of $8,125. The weekend saw a slight recovery, so that by the end of Sunday it had lurched back to $8,744. This morning saw another fall to $8,297 before a sudden recovery this afternoon. The price at the time of writing is $8,756. This chart shows the movement over the last seven days: 
As always, people want to know the reason for the price falls in Bitcoin and other cryptocurrencies last week. One suggestion is that Friday’s fall was triggered by prosecutors raiding Upbit, the largest cryptocurrency exchange in South Korea. Read this story on CNBC As well as the UpBit raid, the price could have been affected by the sale of more than 8,000 Bitcoins by the trustee of ex-exchange Mt Gox. Read this theory on CCN Another reason for the price fall seen in the first quarter this year is the Bitcoin futures that started trading on the Chicago Mercantile Exchange, according to researchers writing for the Federal Reserve Bank of San Francisco. Read their speculation on CCN ADVFN’s Cryptocurrency page gives you prices for Bitcoin and altcoins | 
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Book now for earlybird discount | Bitcoin Predictions There was no shortage of people pontificating this week about the future of cryptocurrencies. On Wednesday, when the Bitcoin price had recovered to around $9,400, billionaire investor Tim Draper said he though Bitcoin would be worth $250,000 by 2022. Read what he said on Finance Magnates Before we reach those heady heights, Bitcoin could reach $64,000 by the end of 2019, according to a Wall Street strategy firm. Fundstrat Global Advisors argue in a new study that the ratio between the Bitcoin price and miners’ breakeven costs has proven to be a reliable indicator of the price. Read their comments on CCN Founder of Galaxy Digital Capital Management, Michael Novogratz, thinks that all investors need to get into cryptocurrency. Not to have 1% or 2% of their portfolio in crypto is, he says, “almost irresponsible”. Read what he said on CCN Rebutting the Bitcoin Naysayers After last week’s reports that Warren Buffett and Charlie Munger likened cryptocurrencies as “rat poison” and “trading in babies’ brains” plenty of commentators leapt to rebut their views. Here’s on opinion article explaining why they are wrong, on avc.com Cryptocurrency Crime Cryptojacking is when hackers infect a machine with malware which secretly uses the computer’s power to mine cryptocurrencies, to the benefit of the hacker. A new report says that a recently discovered software vulnerability has lead to more than 200 websites affected by malware which makes visitors machines mine Monero. Read about it on CCN Greek police has uncovered a plot of murder a Russian national who was suspected of laundering $4 billion in Bitcoin through a cryptocurrency exchange. Russian national Alexander Vinnik was the target of the plot, thought to be linked to criminal organisations in Russia. Get the story on CCN | 
ETORO – Trade – Invest Exclusive to ADVFN users: an introduction to cryptocurrencies. Crypto needn’t be cryptic! Download free E-book Highly volatile investment product – your capital is at risk | Governments and Crypto New York Attorney General Eric Schneiderman’s abrupt resignation is not going to stop that office’s enquiry into cryptocurrency exchanges. In an email, the press secretary said, “Our office’s work continues.” Get the details from coindesk President Trump’s axing of the Iran nuclear deal has seen Iranians shift money into cryptocurrency, in order to get it out of the country before sanctions bite. It has been revealed that the equivalent of $2.5 billion has fled Iran. Read the story on Finance Magnates At an international gathering to work on setting international standards for the blockchain last year, the head of the Russian delegation surprised everyone by announcing that Russia intended to own the blockchain. “Look, the internet belongs to the Americans – but blockchain will belong to us,” he said. Read more on his comments in the New York Times The Marshall Islands, a group of 1,156 islands and islets that are part of the larger island group of Micronesia, wants to make a cryptocurrency legal tender alongside its local fiat currency. Read the story on Coingeek Blockchain News Facebook wants to get into the blockchain, and is setting up a small team to focus on blockchain technology. Get the details on CCN Centrica, the UK’s biggest energy provider, is running a trial using blockchain technology to help it offer cheaper, greener energy to its customers. It has joined up with blockchain startup LO3 Energy to use distributed ledger technology for its peer-to-peer trading between its energy consumers. Read about it on CCN BMW has been working with DOVU, a London-based company that provides a blockchain-based data marketplace for the transportation industry, to test a system that uses tokens and blockchain tech to track vehicle mileage. Get the details from CCN Not everyone has drunk the blockchain Kool-Aid. An article on Medium says its “crappy technology” and a “bad vision for the future”. Read why on medium.com ICOs A blockchain data analysis firm has put together an animation that highlights just how much cash has been raised by ICOs. Watch the video on Technology Review The KodakCoin ICO will begin later this month, say the team behind Kodak’s blockchain-based image rights management platform. This is four months behind the schedule originally announced. Get the details from CCN Mining News The world’s largest maker of graphics processing units (GPUs), Nvidia, has reported on its earnings for the first quarter of the year. It made $3.21 billion, and 9% of their total revenue came from sales to cryptocurrency miners. Read the story on CCN However, its stock fell after analysts questioned whether this can be sustained with digital currency prices declining. Read about Nvidia’s stock price fall on Fortune Bitcoin miners who hold onto their coins during dips rather than selling them are likely to drive the price to $36,000 by the end of 2019, according to investment research firm Fundstrat. Their report says they believe that “the current path of hash power growth” will be the main driving factor for the Bitcoin price. Read what the report said on Finance Magnates Cryptocurrency mining firm BTCRUSH has been ordered to cease operating in Texas after videos that it claimed showed its mining operations turned out to be fake. The website claimed that they used a “bunker of second world war times” to house one of their mining farms, but videos of the bunker were found to be online stock footage. Read the story on Bitcoinist Other News The Oscar Mayer pork products company launched its very own cryptocurrency last week, the Bacoin. It was obviously a marketing stunt rather than a real cryptocurrency, but it does serve as a timely lesson about the volatility of the crypto market –a s its valuation exploded then plunged. Read about the Bacon on CCN Those who think Bitcoin is just a speculative bubble often site the 17th century tulip mania as a comparison, or perhaps as a terrible warning of what could happen. But according to an article on the BBC News website, the modern idea of Tulip Mania is very overblown, and in reality it had little to do with speculative fever. Read the fascinating story here Finally, in an interview with Business Insider, Sesame Street’s Cookie Monster was asked what he thought of Bitcoin. Not much, it turns out, although he’s very familiar with Bitcookie. Watch the interview or read a transcript here The Crypto Trader News, information, tips and opinions on all things to do with cryptocurrency. Purchase a subscription with Bitcoin, LiteCoin, Ethereum or PlusOneCoin. Click here for more information New Book on Cryptocurrencies out now
from Clem Chambers The CEO of ADVFN, Clem Chambers, has a new book on cryptocurrencies out now in paperback and for the Kindle. Click here to buy the book from Amazon Trading Cryptocurrencies: A Beginner’s Guide - Bitcoin, Ethereum, Litecoin is an invaluable guide to making money in cryptocurrencies: how they work, how to invest in them, trading cryptocoins, mining, and the technical details behind them. 
Click here to buy the book from Amazon CME Bitcoin Futures ADVFN (LSE:AFN) is now offering free CME Bitcoin Futures data to its four million registered users. Anyone visiting the ADVFN site can obtain quotes, view charts and access real-time news for CME Bitcoin Futures here. Users can add these contracts to their portfolios and see bid, offer, highs, lows and current prices along with traded volumes. They can also view them on their monitor pages alongside their other investments. | 
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