• typewriter
    Alt coins,  Bitcoin,  Ethereum,  Media,  United States

    Must-reads for September 27, 2018: Fake volume, low volume, and other bad choices

    Here are the crypto stories you should be watching today

    Crypto’s Open Secret: Its Multibillion-Dollar Volume Is Suspect (Bloomberg via Yahoo Finance) Nearly two months ago, we wrote about BitForex, the Singapore-based exchange with suspicious trade volumes and a horrible logo. Bloomberg has finally caught up to Modern Consensus and they have some more details about it. Why would BitForex do it? “Transaction mining, also known as trade mining, is a controversial practice. On BitForex, users earn the equivalent of $1.20 in digital tokens issued by the exchange for every $1 they pay in transaction fees. It’s a system that critics say is tailor-made to encourage wash trading — in which a trader, or a team of traders, buy and…

  • news
    Alt coins,  Bitcoin,  Ethereum,  Media

    Must-reads for August 27, 2018

    Here are the crypto stories you should be watching today

    This little-talked about correlation suggests bitcoin may end year ‘explosively higher’: Tom Lee (CNBC) Fundstrat’s Tom Lee may use shoddy analysis. He may even make absurd claims of bitcoin prices reaching $10 million in a couple of decades based on shockingly flimsy correlations between Millennial income power and the price of bitcoin over a few months during the bubble last year. But you know what he’s really, REALLY good at? Getting repeatedly booked on CNBC. On Friday, the former JP Morgan’s Chief Equity Strategist was at it again, this time spouting the idea that emerging markets may power BTC toward his $25,000 year-end price target, a prediction made earlier this…

  • Thomas J. Lee
    Bitcoin

    Bitcoin drops during Consensus, despite Tom Lee’s call for a rally

    Fundstrat chief expected a rally, got a drop instead

    Consensus 2018 has come and gone and if there’s just one takeaway, it’s this: Tom Lee has some bad timing. Fundstrat’s founder and head of research braced investors for a Consensus-based rally that just didn’t happen. On May 7, Lee wrote to his paying clients, “We expect the Consensus rally to be even larger than past years,” noting that bitcoin gained 69 percent during the Consensus 2017 and 138 percent over the following two months. Since attendance this year was already expected to be triple the 2,700 from last year, Lee argued, bitcoin should expect a big boost. Oops! Instead, bitcoin prices tanked. If one had taken Lee’s recommendation and…