Bitcoin Price Will Triple Gold in 2018, Silver Achieves Parity With Gold

Bitcoin Price Will Triple Gold in 2018, Silver Achieves Parity With Gold


Banks are going to get into big trouble later this year which is going to expose a gigantic derivative bust, silver has a good future ahead and Bitcoin price would triple the price of an ounce of gold – which is expected to reach $4,800 – by March next year, according to the latest data sets from Clif High. Based on this estimate, one Bitcoin could be worth more than $13,000 by then, he says in the interview he recently had with Greg Hunter.

Banks’ troubles

Clif High, who has gradually become a known name for the projection from his Web bots, says his data shows that the derivative that some banks would soon experience would be regional troubles rather than a global bust. He says: “It would be a large failure, say, in a northern Italian bank then the derivative associated with that bank ripples over to Deutsche Bank and maybe they are able to contain it a little bit and so everybody breathes a sigh of relief. Then it breaks out in Texas and a bunch of regional banks in Texas shuts down and there is pressure on some fracking whales and they get it contained with a little bit of credit infusion from somewhere else. Then it spreads to California and up to Asia and the next thing you know it is back in Europe. So we’ll be fighting this basically derivative disease as it pops up here and there. That’s going to be the modus operandi for the banks for the rest of this year.”

“He hints that a lot of people are going to get caught up in the situation when some of these banks go down because they won’t have access to their cash. Also, some of these banks are not likely to recover from the “nasty situation.”

Silver’s going to the moon

He didn’t say if there would be a correlation between the failure of banks and the projected rise in the price of silver. However, he notes that for a number of years, silver is going to be an increasingly key component of the increasing complex hyper-technologies. This will be as a result of the escalation in the actual growth rate of emotional attachment to silver between this year – when the metal is expected to break out and create a shift in its price manipulation – and 2022.

They will try to suppress it to contain it in the first instance, he adds, but they won’t be able to contain the next breakout coming towards the end of the year (October) because of what would be coming out as relative to technology by the time.

“The situation will encourage rampant hoarding in silver in 2018 and 2019 in many western countries and its price will escalate rapidly towards achieving parity with gold and become too expensive to be used as money. For gold, he says the next number according to his data sets is $4800 per ounce with a projected timeline of March 2018.”

Bitcoin won’t explode until 2019

If what Clif High, who is considered quite accurate with his predictions about Bitcoin, says about the digital currency is anything to go by, then we should see a $13,000+ Bitcoin by March 2018. Speaking of the price of gold in the interview with Hunter, High says an ounce of gold would reach $4800 net by March to drop down by about $300. He adds:

The data shows that when it’s dropped to that point, just curiously, it happens to match for a brief period of time exactly one-third of the price of Bitcoin when gold does that deepen and it’s back up again.”

That gives us about a price range of between $13,000 and $14,000. “Bitcoin is simply escalating. It doesn’t explode until 2019,” he adds with a submission that at some point, there will be one Bitcoin available for every thousand ounces of gold.

 Bitcoin Price Breaks $1228 All-Time High Again With ETF Nearing

  Bitcoin Price Breaks $1228 All-Time High Again With ETF Nearing

Bitcoin price surpassed $1,228 earlier today on major Bitcoin exchanges including Bitfinex, Bitstamp, Kraken and bitFlyer due to the industry’s optimism towards the Winklevoss twin’s Bitcoin ETF approval on March 11.

Digital currency exchanges in Asian markets including Japan and South Korea, which control over 52 percent of the global Bitcoin exchange market, have been facilitating Bitcoin trades in the range of $1,260 to $1,270, with a $50 premium in contrast to the global market. Traders on bitFlyer in particular, the world’s largest Bitcoin exchange that processes 60 percent of trades of the Japanese Bitcoin exchange market amounting to 94,520 Bitcoins per day, is still trading Bitcoin at $1,262, a value nearly $39 higher than Bitfinex and Bitstamp.


Speculation on Bitcoin ETF Approval

The strong performance of Bitcoin price is a result of the speculation of the Bitcoin industry towards the approval of the Winklevoss twin’s Bitcoin ETF COIN, which is awaiting its final decision by the Securities Exchange Commission (SEC) to be made public on March 11. Prior to the release of a memorandum on Feb. 22 by SEC Attorney and Adviser Neel Maitra, many analysts including Needham & Co Vice President of Equity Research Spencer Bogart noted the low probability of the COIN ETF being approved by the SEC.

The reason behind the prediction of Bogart was that if a Bitcoin ETF is approved by the SEC and it does well in the public market, SEC officials or whoever that made the final decision to make the ETF public will not receive any form of incentive out of the deal. However, if the ETF fails and controversy emerges as a result, SEC officials will be responsible for their actions.

“We have pegged the odds at less than 25 percent. That is because the very first thing the SEC lists in its own mission statement is protecting the investing public. When you think about the game theory aspect of this, if I work at the SEC and I approve this ETF. and it goes well, nobody is probably going to come around and pat me on the back and give me a promotion. But if I approve it and a lot of money flows into it, and something goes wrong, I am likely to lose my job,” said Bogart.

In other words, Bogart explained that it is a go-to decision for SEC officials to turn down any risky funds like the COIN ETF as they don’t benefit from the strong performance of the ETF but are still wholly responsible for the outcome of the ETF. Speculations began to change in favor of the Winklevoss twins and the Bitcoin industry when the Feb. 14 SEC-Winklevoss twins roundtable discussion memorandum was released. In the memo, the SEC revealed that its Division of Trading and Markets, Division of Corporate Finance, State Street representatives, KCG Holdings, Susquehanna International, ConvergEx and BATs participated in the meeting to discuss the future of the ETF and its performance when approved.

The SEC brought in outside advisors in KCG Holdings and Susquehanna International to offer unbiased insights into how the Winklevoss twin’s Bitcoin ETF could perform in the near future. Based on the current Bitcoin price trend, it could go both ways. The Bitcoin ETF approval process on March 11 could either allow Bitcoin to achieve new highs again or lead to a short-term decline.

Bitcoin Price Pushed by OKCoin Getting Ready for Relaunch, China Money Supply Increase


OKCoin, one of the two Chinese Bitcoin exchanges, is demonstrating progress in sorting out user fund withdrawals. On Feb. 9, it was requested by the People’s Bank of China (PBoC) to halt Bitcoin and Litecoin withdrawals. On March 1, OKCoin told their users that the exchange is approving the transfer of user funds stored on the global OKCoin trading platform to their Chinese site because the companys .CN platform is nearly ready for approval by the PBoC and relaunch.

Earlier in January, the PBoC asked OKCoin and Huobi, two of the largest Bitcoin exchanges in China, to suspend trading until their Know Your Customer (KYC) and Anti-Money Laundering (AML) systems are overhauled. The abrupt termination of OKCoin Bitcoin withdrawals stemmed from the PBoC’s initial warning sent out to Huobi and OKCoin on Jan. 18.

At the time, OKCoin operators announced a time frame of one month for the completion of their KYC and AML system update, which meant that users would not be able to withdraw their funds in Bitcoin or Litecoin for 31 days. However, OKCoin emphasized that the one month period could be either shortened or delayed depending on the development of their new industry-compliant AML and KYC systems. Since an AML and KYC update essentially led to the renovation of the entire platform, OKCoin and Huobi weren’t capable of providing a fixed date of withdrawal approval.

OKCoin seeing progress

On March 1, OKCoin representatives told their users on WeChat, a popular Chinese messaging platform with over 700 mln users, that the exchange is approving the transfer of Bitcoin and Litecoin from their .com to .cn site. Basically, OKCoin is approving users transferring their user funds stored on the global OKCoin trading platform to their Chinese site because of the companys .CN platform is nearly ready for approval by the PBoC and relaunch.

An OKCoin representative stated:

“Transferring Bitcoin from our domestic site to international site is not supported. But, transferring Bitcoin from international to domestic site is allowed.”

At the time of writing, it is difficult to conclude whether this means that OKCoin users will soon be able to withdraw their funds in Bitcoin and Litecoin. It is likely that these updates are being released within the Chinese community as the one-month deadline is approaching. According to their original roadmap, users should be able to withdraw funds on both Huobi and OKCoin in less than eight days.

Increasing demand

Optimistic announcements from OKCoin and Huobi have coincided with the Chinese government’s decision to initiate quantitative easing or printing cash to inject into their economy. Financial analysts including Reuters have reported that the PBoC is eying a 12 percent increase in money supply in 2017, which means that the government intends to increase its money supply by trillions of yuan throughout this year.

"It's not necessary to maintain last year's high money supply growth. A money supply rise of 11 percent should be enough for supporting growth, but we probably need to have some extra space, considering risks in the process of deleveraging,” a government insider told Reuters. The demand for Bitcoin will most likely rise if the Chinese yuan continues to devalue as a result of inflation. If the Chinese government opts to match its 12 percent cash injection plan as reported by Reuters and local financial companies, the value of yuan is expected to decrease and the demand for safe haven assets or decentralized currencies like gold and Bitcoin will most likely increase.

China also recently lowered its projected economic growth, decreasing its forecasted growth rate from 7 to 6.5 percent.

Chuck Reynolds

Visit the Kairos webiste

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