CNBC’s Brian Kelly: ‘Don’t Sell Crypto After Bitcoin ETF Delay’

Earlier last week, the SEC postponed CBOE’s Bitcoin ETF application decision until late September. On Aug. 7, Brian Kelly went on CNBC’s Fast Money to urge viewers to hold their crypto investments through the delay.

BK: “There’s More to This Story Than Just an ETF” The CEO and founder of investment firm BKCM, Brian Kelly, appeared on CNBC’s Fast Money to share his expectations following the SEC’s recent delay of a Bitcoin ETF application.Initially scheduled for a decision next week, the SEC delayed the Bitcoin ETF filed by CBOE Global Markets until Sept. 30. Following news of the postponement, Bitcoin prices fell nearly 14 percent within a 24-hour period. The Bitcoin ETF decision was highly anticipated by retail investors as a potential catalyst for institutional capital to enter the sector. Taking an optimistic stance, Kelly urged Fast Money viewers to refrain from selling out of fear during the application delay.

According to Kelly, a regulated U.S. cryptocurrency derivatives exchange…

Bitcoin Price Intraday Analysis 7/8/2018: BTCUSD Awaiting Breakout

Opposite to what we expected in our previous analysis, Bitcoin has not attempted to extend its bearish momentum, at least in the last 24 hours. The BTC/USD yesterday established an intraday low at 6856-fiat, which also acted as a support to a bullish correction phase. As a result, the pair has recorded around 2% gains at the time of this writing. After the BTC/USD slumped below 7000-fiat, we were waiting for the pair to attempt a breakout above the said psychological resistance, before we put a long position towards the interim resistance at 7147-fiat. And thanks to the minor upside, we were able to achieve the targets today.

n medium-term, the BTC/USD is still locked inside a descending channel. The pair is now near its potential deflection point, while a break above it will confirm an extending bearish correction. The fact that the 100H MA is also above 200H MA is also enough to assume a potential upside breakout. However, a narrow gap between the two moving indicators points to a sl…

Bitcoin, 'the best house in a tough market,' is bouncing back, says Wall Street bull Tom Lee

Despite bitcoin's tumble over the past two weeks, Wall Street bull Tom Lee says the cryptocurrency is gradually regaining market share — which should comfort bitcoin buffs. "The news that we have seen, from the SEC saying bitcoin's a commodity, to ... the potential for an [exchange-traded fund] is causing investors to decide that bitcoin is the best house in a tough market," Lee, who is Fundstrat Global Advisors' managing partner, said on CNBC's "Fast Money."
He was referring to the U.S. Securities and Exchange Commission (SEC). Bitcoin has been on a near steady downward slide, since briefly topping $19,000 in December. It dropped below $6,000 at the end of June — its lowest value all year, according to Coindesk. The cryptocurrency then rallied, approaching $8,400 in July, before tumbling back down to around $7,000 in recent days.
"Bitcoin isn't broken if it's holding at these levels.
 I think people are afraid it is going to go back do…


That’s according to Brian Kelly, CNBC’s regular cryptocurrency commentator and BK Capital Management founder, who called the plans the “biggest news of the year” for Bitcoin. “This is huge news,” he told the network during an episode of its Fast Money segment Saturday. Kelly was speaking one day after ICE, which owns the New York Stock Exchange, confirmed its high-profile partnership to build a “global ecosystem for digital assets” with a slated launch date in November 2018. Together, the participants will create a digital asset warehouse for investors to “buy, sell, store and spend digital assets on a seamless global network.”

For Kelly, however, the event equally marks a watershed moment in the establishment versus cryptocurrency stand-off. Specifically, the seeming impasse in the US over regulators approving a Bitcoin ETF could be broken as a result of ICE. “[Consumers] will now have a U.S.-regulated exchange and they have a licensed warehouse, which is how …

Wixlar Group accommodating Businessmen from China

Wixlar Group accommodated six businessmen from China for a week. We showed them around the different locations where Wixlar Group is operating in Seoul – South Korea, as well as the headquarters and the supporting offices

We organized a nice seminar welcoming them to our Wixlar Community and showed them in details the Wixlar projects, products, and services, as well as using WIX Coins as an electronic Payment method The Businessmen announced officially on stage their excitement in some of the services and products that are even ready, although Wixlar is only in Initial Coin Offering (ICO).
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NYSE Trader Following Bakkt Launch: ‘Bitcoin Is Very Iffy

A New York Stock Exchange (NYSE) trader told to Yahoo Finance in an interview 3Aug , that at the moment Bitcoin (BTC) is “very iffy” following the launch of a new regulated BTC exchange Bakkt by the Intercontinental Exhange (ICE), the parent company of NYSE. Alan Valdes, a senior partner at international advisory firm Silverbear Capital and NYSE trader, raised concerns about BTC, when asked if the launch of Bakkt may be a sign that Wall Street is serious about crypto.

The ICE announced its plans to establish a Microsoft cloud-leveraged “open and regulated, global ecosystem for digital assets” earlier today.

 First use cases will be for trading and conversion of BTC versus fiat currencies.
 Bakkt will reportedly include federally regulated markets and warehousing” alongside “merchant and consumer applications.
” The ICE says that it intends to design Bakkt to “support transaction flows” in the $270 billion digital asset marketplace, and facilitate its “secure” and “efficient” evolution. 

Bitcoin Price Won’t Hit a New High [This Year]: Trader

It’s possible that the bitcoin price has found a bottom, but that doesn’t necessarily mean that it’s headed for a new all-time high before the end of the year. That’s according to Tuur Demeester, an economist and bitcoin trader, who argues in a new report that the market needs more time to absorb the historic 36-month rally that carried the bitcoin price from sub-$250 to a peak just below $20,000 in Dec. 2017. Writing on Medium, Demeester lays out the case that 2018 will likely be remembered as an era of growing pains, a time when fair-weather investors liquidate their holdings, regulators begin to catch up following last year’s breakneck ascent, and infrastructure development continues to plod along.

He bases this case on several factors, beginning with the fact that the bitcoin mining landscape is becoming increasingly competitive, even as the BTC price continues to decline. He estimates that bitcoin miners have experienced a 90 percent profitability drop since January and are respon…