/ Bitcoin

Catching up on Crypto - 1

23 days to go till 108 Token sale ends

Presenting 108 Token’s inaugural newsletter of the ‘Catching up on Crypto’ series.

In addition to periodically providing colour on how our pioneering index product is performing, we also hope to keep our readers updated on latest happenings in the fast-paced Crypto markets globally.

Before we move on to today’s blurb on “Investing in the Bear Market”, you might want to take a quick look at our tradeable crypto index - 108 Token. 108 Token simplifies crypto investing by offering diversified exposure to a basket of the top 15 cryptocurrencies by market cap. Think of this as the equivalent of the S&P 500. With 108 Token, investors need not worry about coin selection, wallet management and portfolio rebalancing.

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Crypto Tweet of the Day:
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https://twitter.com/lopp/status/1026947766478614530

Investing in the crypto bear market

As we have opined earlier we believe a passive strategy will long term outperform active strategies. After a major 70%+ plus drawdown in crypto prices this year, Bitcoin seems to have found its feet around the $7k mark. With the prices more or less range bound over the past few months, we expect renewed investor interest and inflow momentum in to this asset class. We feel that given the low basis for entry and a rich pipeline of positive updates that are arguably not priced in at current levels, the market seems ripe for absorbing new capital inflows from both retail as well as institutional investors. Below, we highlight the major catalysts that could trigger another bull run in Bitcoin and cryptos.

Wall Street Flexing its Muscle: Through 2018, we have observed signs of Wall Streets’ increasing confidence in the crypto space. Goldman and Barclays are reportedly mulling opening up crypto trading desks, while Nomura is contemplating venturing into crypto custody business.

Bitcoin ETF Approval On the Cards: The ETF application filed by the Winklevoss twins was rejected by the SEC last week, citing the fragmentation of crypto prices across the globe and thin liquidity. However, we firmly believe that growing demand for cryptos coupled with better design and insurance mechanisms for ETFs will inevitably lead to an SEC green flag. We’ve seen significant evidence of this recently, with the SEC receiving over 10x the number of responses for its latest ETF decision. Further, there have been positive developments in the custody and regulatory side of Bitcoin.

Institutional Capital Deluge: Following on from the launch of crypto-focused vehicles by Silicon Valley behemoths such as a16z and Sequoia’s Matt Huang, we are most likely to see a significant amount of institutional capital flood the crypto markets once the custody piece of the puzzle is solved. Key players such as Coinbase are actively working on improving custodial solutions offered for Crypto asset managers. Very soon, we expect institutional investors to start allocating a non-trivial portion of their capital to cryptocurrencies.

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By the way, even if you are not planning to invest into cryptocurrencies personally, you can still earn cryptocurrencies by referring folks you know to 108token.

Market Update

In the past 24 hours, all of the top 10 cryptocurrencies are in the red. BTC, at $6,504 lost 7.32% while ETH, at $370.14 shed 9.26%. EOS was the worst performing currency (-15.63%), closely followed by XRP (-15.10%) as per data by OnChainFX.com.