crypto news

Morgan Stanley & Crypto: We told you so

We hate saying I told you so, but…

  • Morgan Stanley, one of the world’s largest investment banks, has just poached Credit Suisse’s resident “bitcoin expert” to head the former’s digital assets unit.

  • Morgan Stanley is reportedly preparing to offer bitcoin swap trading for clients, joining other top banks in a sector-wide effort to explore digital currencies.

  • Goldman Sachs clarified last week that the bank is working on a type of derivative for bitcoin called non-deliverable forwards due to client demand.

We published an article on July 27, 2017, covering our recent interactions with Morgan Stanley contacts. We presented a bullish case after our discussions with Morgan Stanley. Most of those cases have turned out to be true (bar the ETF comment: it doesn’t look like an ETF for Bitcoin will come from Morgan Stanley in 2018).

Now, Morgan Stanley have consistently made more and more comment on Bitcoin, Blockchain and Crypto (especially from Q3 2018).

The purpose of sharing this post this morning is two fold. One: we want to remind everyone that bullish news presented at an early time (i.e. as per our original post in July 2017) should never be forgotten. Always keep your finger on fundamentals, as fundamentals are what will drive this market long term. Two: Sometimes things play out as expected (i.e. the majority of our calls back in July 2017) and sometimes they don't. Just because we post something, or anyone else posts something, always have a plan B in case some or all doesn't eventuate as expected. We are all human and the Crypto market is INEFFICIENT (An inefficient market, according to efficient market theory, is one in which an asset's market prices do not always accurately reflect its true value).

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Interesting side-note: Morgan Stanley veterans aren’t immune to the lure of Crypto. Zoe Cruz, a former executive, is on the board of Ripple. The bank’s former CEO, John Mack, took an interest in Omega One. Morgan Stanley are just one fine example of established corporations who are going full-speed into Cryptocurrency and Blockchain.

Find out more about how the market is acting and the news coming out through our PremiumProgram, currently at a discounted $39 a month.

Amazon, Walmart - Accepting of Crypto!

  • AWS CEO Andy Jassy unveiled two new blockchain products at the re:Invent conference in Las Vegas on Wednesday.

  • The company will offer Amazon Quantum Ledger Database and Amazon Managed Blockchain for developers using its cloud-computing services.

  • Amazon is introducing the services despite an almost 70 percent plunge this year in the price of bitcoin.

Amazon's new product will support two popular existing blockchain platforms — Ethereum and Hyperledger Fabric. Ethereum is a popular open-source building platform for developers, linked to the cryptocurrency ether, while corporate giants including IBM are currently building projects on Hyperledger.

In addition to the managed blockchain product, AWS announced Amazon Quantum Ledger Database, or QLDB, where customers can replicate a copy of their blockchain network activity.

Amazon already leverages Ethereum on its cloud network, and in May announced a partnership with start-up Kaleido to make it easier for customers to put their services on blockchain. Microsoft offers customers "blockchain as a service" on its Azure cloud.

On the other side of the fence, Walmart is also fully invested in Blockchain. Walmart recently became one of the first retailers to explain how it will be using the technology. The company said it would require lettuce suppliers to upload data about their foods to blockchain within a year.

Our Premium Members are kept up to date with market updates and key news coming out. Join our PremiumProgram to keep up with everything Crypto related.

TRADE TIP: What to watch?

Here is a free trading tip, which we constantly remind our Premium Program members of, like clockwork: MARKET CAPS. Why?

The market cap essentially represents the amount of demand for the #crypto. More people buying, bidding the price higher, leads to a higher market cap. You watch the market cap to determine how the market should react in the near future. You watch the volume, the action.

Many traders like to watch the Bitcoin market cap. We do it differently, we tell our Premium members to always have open the Bitcoin Market Cap AND the Alt Coin Market Cap (see links below). Why? Well, you need to see how both interact with eachother to best determine where the money is flowing. If you see BTC market cap declining, where is that money going? Check the Alt-Coin market cap. Always have both open.

https://coinmarketcap.com/currencies/bitcoin/

https://coinmarketcap.com/currencies/altcoin-alt/

It’s a small but very handy tip. Always remember to keep your eyes on how the wider (marco) market moves. Understanding technical analysis (TA) is imperative.

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