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Bitcoin IRA | Growing Your Nest Egg with Cryptocurrency Investing

Growing Your Nest Egg with Crypto | Bitcoin IRA

With the stock market in a stage that many refer to as a bubble, it can be tough to identify the best ways to diversify your portfolio so that you can grow your nest egg (also known as your retirement account or retirement savings).

When considering to diversify a portfolio with cryptocurrencies, investors may wonder about these types of assets and how they can impact or possibly even benefit an IRA. The good news is that because the IRS views cryptocurrencies as property, crypto investments are available as assets for an IRA, which means that you can easily use crypto to grow your nest egg. The important thing is to find a reliable self-directed IRA custodian that offers cryptocurrency investing. If you’re looking to diversify your IRA portfolio with alternative assets, like cryptocurrencies, this article is for you. Learn more on how to do this below.

How to Invest in Cryptocurrencies

When growing your nest egg, your investment choices may often revolve around the amount of risk you are willing to take. Investors may mitigate risk to maintain a financial plan in several ways, including portfolio diversification. For example, in your current IRA platform, you may be able to purchase Bitcoin or Ether futures. Still, with the wide variety of offerings on the market, you may want to maximize your opportunity to diversify your cryptocurrency holdings between different types of assets.

In some cases, certain cryptocurrencies were developed to solve specific problems. For example, Bitcoin can help people who don’t have access to banks while Litecoin was created to make crypto transactions faster than they were with Bitcoin.

Bitcoin (BTC) is the first established and most well-known cryptocurrency. It engineered the use of blockchain technology that has been adopted as the backbone of new industries. Many other offerings, including Bitcoin Cash, Litecoin, and Dogecoin, use similar but lighter-weight technology, to accomplish similar things as Bitcoin.

Digital coins vary from one another, as they aim to accomplish different objectives. For instance, Internet Computer was designed to improve the internet architecture, and Filecoin seeks to provide a secure web-based data storage solution. So, when investing in cryptocurrencies, it’s wise to research the coins you’re looking to invest in and learn each coin’s objective toward improving specific systems currently in place or current gaps in their space.

You can conduct your technical analysis by reviewing this coin research alongside historical price charts to view how different cryptocurrencies have performed in the past. Then, once you have decided which projects you want to support, investing in cryptocurrency seems likely to be your next step. If you’re ready to get started, find a digital IRA platform that is right for you, open a wallet for your digital currencies and choose the cryptocurrencies you’d like to buy.

It’s important to note that cryptocurrency does not have to be an all-in investment product. Know that you can also purchase portions of coins versus a whole coin. For example, one Bitcoin is trading at around $40,000, but you can buy any amount of your desired crypto that works best for you and your portfolio.

Find an Investment Platform

There are numerous ways to invest in cryptocurrencies. In addition to a regular exchange, many investors are seeking out the potential tax advantages associated with crypto investing in an IRA or even a 401(k). While there are various custodians available, not all of them are structured for users to open IRA accounts to buy or sell crypto. So, if crypto is something you’d be interested in exploring, be sure to look for a custodian that offers this option when preparing to invest your IRA in cryptocurrencies.

For example, Bitcoin IRA offers investors options to open a new retirement account or transfer funds from an existing retirement account, like an IRA, to invest in cryptocurrencies. In addition, our platform can be conveniently accessed via a mobile app as well as through a web experience. In fact, our platform allows you to buy, sell or swap crypto directly in your IRA anytime, wherever it suits you, 24/7. Plus, Bitcoin IRA offers users access to over 60 different types of cryptocurrencies.

Growing Your Nest Egg with Cryptocurrencies

To grow your nest egg by investing your IRA in cryptocurrencies, first, choose and research a credible and secure platform with features that best serve you. Then, educate yourself about the different types of cryptocurrencies available to you and determine which fit best into your risk assessment mix. Next, it’s time to begin investing and once you do, it’s suggested that you assess the performance of your investments as you would any other account.

Bitcoin IRA is an industry-leading Crypto IRA Platform that allows you to invest in tax-sheltered IRA* accounts in assets like cryptocurrencies; check them out today.

 

*Some taxes may apply. We recommend you consult your tax, legal, and investment advisor.

 

Questions on getting started with cryptocurrency investing in your Bitcoin IRA account? Our specialists are here to help! Call us at 877-947-4125 or email us today.

Recommended article: Crypto: To Invest or Not to Invest

Bitcoin IRA | Using Crypto to Diversify for Retirement

Crypto Investing Myths Debunked | Bitcoin IRA

Bitcoin, Ethereum, Cryptocurrency, Investing Myths Debunked

What started as an underground asset class for the computer savvy has turned into a household name. Interest in cryptocurrencies has exploded, and with it, some myths and misconceptions about the space.

If you have ventured beyond Yahoo News or the Wall Street Journal to learn how to invest in cryptocurrency, information within the universe can appear off-the-wall and disingenuous—making it look like a poor investment choice. But, with gains in the 1000% percentile, it’s hard to ignore completely. So here are some of the top cryptocurrency myths debunked.

Cryptocurrencies are a Scam – FALSE

Financial fraud dates back to the creation of money. Here is a fun fact, in 193 A.D., the Praetorian Guard auctioned off the Roman Empire (which they didn’t own), to Julianus for 250 gold pieces for each member of the army (equivalent to approximately more than $1 billion today). Julianus was never recognized as emperor and the new sitting emperor executed the guards.

First of all, crypto (when invested using a credible platform) is generally not a scam—despite the many naysayers across various social media channels. While cryptocurrency investing doesn’t have the heavy regulations of other investment types, it is believed that federal regulations for crypto are in the works. Like any other investment, it is always recommended for investors to do their due diligence and research to protect themselves from bad players and other dishonest entities.

Obtaining meaningful research from the cryptocurrency universe can be challenging at first, but it is not impossible. It’s recommended to keep things simple by starting with credible sources, such as relevant online publications from notable names within the segment, including Bitcoin Magazine, Crypto Briefing, and Blockchain Magazine. Another way to prevent a bad or fraudulent situation is to invest through a trusted platform, such as BitcoinIRA, which offers over 60 types of cryptos via both a web experience and convenient mobile app.

Too Much Anonymity – Mostly FALSE

Over the years, cryptocurrencies have been touted as a way for people to launder money because of their anonymity. However, this is false for most cryptocurrencies, including $BTC and $ETH. Simply put, cryptocurrencies are built on a linked public ledger. For example, the information in block B contains some information from block A, and information from block B is inserted into block C as it is formed—creating the digital blockchain.

If any information in any block is disturbed, the chain is no longer in agreement with the information present, and the chain becomes invalid. Of course, there is much more to this, but the linked ledger makes it impossible to alter the sequence of transaction information to hide one’s activities. The means that authorities can more easily track and identify fraud through blockchain.

Meanwhile, IT programmers are working on stealth addresses and new ledger protocols to achieve better anonymity for many reasons. Some credible reasons include trade secrets and personal information protection. So, it is possible to achieve some level of anonymity with cryptocurrencies, but most available coins do not operate this way.

Cryptocurrency Investing and Trading is Easy – FALSE

Cryptocurrency investing is like any other market; people buy when they think prices will increase. When any asset class is in a bull market, buying low and selling high is no longer an art. The problem with bull markets is that they come to an end.

For example, the stock and housing markets have been in a long-term uptrend since the Great Financial crisis bottom in 2009. Since then, people have generally taken the BTD (buy the dip) approach and been successful. But when the winds change, this strategy will no longer work for any market.

Since the US Federal Reserve announced in late 2021 that they would bepulling back financial accommodations interest-rate sensitive products have moved in sympathy to the news—with the technology sector being hit the hardest.

While the Fed has very little to do with cryptocurrencies, the idea is the same. For instance$ETH prices are showing an optimistic pattern now that large corporations are interested in selling NFTs (non-fungible tokens) and their metaverse applications.

So, cryptocurrency prices are also susceptible to political news and moves in international equity markets. Suppose you are the type to invest in new ICOs. In that case, it’s recommended to gain a better understanding of the protocol used, what significant news events could potentially affect pricing, the underlying project, how well it is being marketed, and which problems it may solve for probable future success.

Understanding Crypto

Overall, like many asset classes, cryptocurrency investing has its strengths and weaknesses, which is why it’s wise to do your due diligence and research before making any investment decisions. That way, regardless of what is being said on various public forums, your viable investment opportunities may not be swayed by opinions of sources that may lack credibility or expertise. Additionally, it’s generally a good idea to understand the mechanics behind how your money is being put to work. So, take the time to learn how to invest in cryptocurrencies and invest through trusted platforms, like Bitcoin IRA.

Recommended articles: 12 of the Most Important Cryptocurrency and Bitcoin Terms

Here’s Why Banks are Getting Involved in Cryptocurrencies

bitcoin-reaches-10k-nov-28

Bitcoin Surpassed the $10,000 Mark on November 28

Bitcoin officially surpassed the $10,000 mark on November 28, up more than 800 percent since the beginning of this year alone. The cryptocurrency is poised to soar even higher in 2018, given the growth of worldwide and corporate adoption, increased accessibility and the exploding popularity of blockchain technology. With Wall Street titan Michael Novogratz predicting that Bitcoin could easily be valued at $40,000 by the end of 2018, now may be the prime time to invest in the digital currency.  But before we discuss Bitcoin’s future trajectory, let’s review how it got to where it is today.

2008: A Trusted Currency is Born

Like many great innovations, Bitcoin was born in response to a crisis. Back in 2008, financial institutions recklessly bundled and sold subprime loans. This resulted in a massive economic recession and a global distrust in third-party organizations. It was time for an alternative option, which arrived in the unexpected form of a white paper.

In 2008, Satoshi Nakamoto, the anonymous person or group of people behind the concept of Bitcoin, wrote a nine-page white paper titled Bitcoin: A Peer-to-Peer Electronic Cash System. The paper articulated the need for “an electronic payment system based on cryptographic proof instead of trust.” As the financial crisis demonstrated, a banker’s word could often be intangible and misleading. Incorporating cryptographic technology into financial transactions would eliminate the need for third-party verification and make it impractical to commit fraud.

The world listened, and 2009 marked the release of the first Bitcoins.

2010-2016: A Force of Innovation

Over the last seven years, Bitcoin has gained traction as a new asset class that meets the bar for investability. In their white paper Bitcoin: Ringing the Bell for a New Asset Class, Blockchain Product Lead at Ark Invest Chris Burniske and Coinbase Vice President and General Manager Adam White compare basis of value, governance, use cases, and price independence of Bitcoin relative to other forms of currency. Some major findings?

  • Relative to other major asset classes, Bitcoin has consistently stayed within boundaries identifying it as a differentiated risk reducer.
  • Bitcoin has provided investors with stellar absolute returns, above and beyond that of any other asset class.
  • The decline in Bitcoin’s volatility has been caused by a number of factors including greater regulatory clarity and increasingly reliable price discovery data.

However, Burniske and White’s research, which runs through the end of 2016, doesn’t take into account the events that boosted Bitcoin’s prominence in 2017. Let’s take a closer look at a few major events that happened this year.

2017: Rapid Ascension

  • April 2017 – Bitcoin become a method of payment in Japan. Now over 260,000 establishments and retail location stores are accepting cryptocurrency.
  • November 2017 – Square tests cryptocurrency in their Cash app, allowing a small amount of users to buy and sell bitcoin directly on the app.
  • November 2017 – The entire cryptocurrency market capitalization surpasses $300 billion for the first time in history as of November 27, 2017

2018 and Beyond: Bitcoin and Blockchain Continue to Soar

In short, Bitcoin, and the powerful blockchain technology that powers it, will not be slowing down anytime soon.

Bitcoin is not only leading the charge in cryptocurrency, but also in data security. The blockchain technology that powers Bitcoin is gaining traction in a variety of industries that are looking to track sensitive data with encrypted technology. 

The signs are all there: it’s time to capitalize on the momentum and invest in your future. A good place to start? Your retirement account.

Bitcoin IRA: Investing in Your Future

Investing in retirement funds is an issue of paramount concern but also tremendous opportunity. What if you could invest in Bitcoin to retire earlier, and richer?

Bitcoin IRA is a full-service company dedicated to making this into a reality. After filling out an IRA application, we will walk you through the process of transferring your existing IRA or 401k funds into your new Bitcoin IRA. After your funds arrive, we work with you to perform a live trade and buy your Bitcoins, which will then be stored securely in our exclusive digital wallet.

Interested in getting started? Give us a call today to take advantage of one of the biggest investment opportunities of 2017.

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Trump Tax Plan and Bitcoin

How Trump’s Tax Plan Could Boost the Price of Bitcoin

On September 27, the Trump administration released its new tax reform plan that would reduce income tax rates for both individuals and corporations. The Unified Tax Reform Framework aims to reduce the tax burden on American businesses and families and, thereby, boost economic growth by enabling businesses to create more jobs and by giving individuals more personal spending power.

The key points of the proposed tax reform are as follows:

  • Income tax rates would be reduced as follows:
    The highest tax bracket would be taxed at 35 percent instead of 39.6 percent. The middle tax bracket would be taxed at 25 percent instead of 28 percent and the lowest tax bracket would be taxed at 12 percent instead of 15 percent.
  • The maximum corporate tax rate would be reduced from 35 percent to 20 percent, giving a massive tax relief to U.S. corporations while the corporate tax rate on small businesses and pass-through businesses, where profits are passed through to partners and shareholders, who then report them on their individual returns, will be reduced from 39.6 percent to 25 percent.
  • The child tax credit will be increased to $1,500 and a $500 non-child dependent credit will be enacted.  
  • The reform also wants to double the standard reduction, eliminate personal exemptions, and eliminate the alternative minimum tax.
  • A one-time repatriation of overseas corporate profits for businesses was also proposed.

Since its publication, President Trump’s proposed tax reform has caused heated discussions among lawmakers, business owners, and Wall Street and the potential benefits and drawbacks of the reform are still being analyzed.

However, the potential effect that the new tax reform will have on the price of bitcoin is something that the media has not yet touch on.

The New Tax Reform Could Indirectly Boost the Price of Bitcoin

While the new tax reform may simplify the U.S. taxation system and would benefit corporations and individuals in specific tax brackets, the new reform would likely also add trillions of dollar of debt over the next decade.

For this reason, President Trump’s new tax reform could bode well for the performance of the price of bitcoin as an increase in government debt will weaken the US dollar and the performance of the stock market in the long-run. Investors will, therefore, likely look for alternative investments such as bitcoin to place their funds into, which could give the digital currency a substantial boost.

$ 7 Trillion in New Debt Will Weaken the US Dollar

Currently, the national debt stands at over $20 trillion and should the new tax reform be implemented in its current state, this figure could balloon to as much as $27 trillion as up to $7 trillion would be lost in tax revenue according to CRFB estimates.

Economic theory tells us that an increase in a country’s debt to excessive levels will weaken a country’s currency. The closer a country comes to defaulting on its government debt payments, the more likely its sovereign currency will lose value. Therefore, should the new tax reform pass and the national debt continue to balloon, the U.S. will most likely witness the value of the dollar plunging against other major currencies.

In that case, it is likely that more investors will diversify away from the dollar and into other currencies, including digital currencies such as bitcoin as a hedge.

Stocks Could Tumble and Lead to Greater Alternative Asset Investments

An increase in national debt levels would also destabilize financial markets and weigh on the prices of stocks as we were able to witness in 2011 when the US was forced to raise its debt ceiling not to end up defaulting on its national debt. In the two weeks that encompassed the decision to increase the national debt ceiling, the stock market crashed by over 16 percent as investors priced in a potential slowdown in future economic growth.

According to The Heritage Foundation, “[…] advanced economies like the United States are at risk of significant and prolonged reductions in economic growth when public debt reaches levels of 90 percent of GDP. High public debt threatens to drive interest rates up, to crowd out private investment, and to raise price inflation,” while a World Bank study in 2010 concluded that if a developed economy’s debt-to-GDP ratio exceeds 77 percent for an extended time period it will slow the country’s economic growth. The federal debt-to-GDP ratio in the U.S. is currently at 103 percent according to the Federal Reserve Bank of St. Louis.

While cutting corporate tax rates may give stocks an initial boost, much of that has already been priced into the market when President Trump won the elections in 2016 as his tax reform plans were a key part of his political agenda during his campaign. However, if a tax-relief driven short-term boost in corporate after-tax earnings will lead to an increase in national debt, the stock market will not benefit from the corporate tax cuts for long.  

A further increase in the level of the national debt will weigh on the country’s economic growth prospects, which, in turn, will negatively affect the value of stocks in the coming years.

In such a scenario, it is very conceivable that investors will look for other asset classes to invest in for the purpose of hedging as well as in search for strong returns. That is where bitcoin and other digital currencies can offer an excellent investment opportunity due to their uncorrelated nature and high returns potential. Furthermore, with the increasing interest by institutional investors in the cryptocurrency market, it is not unlikely that a slowdown in the stock market could lead to a rally in bitcoin and other digital currencies.

Whether you agree or disagree with the Trump administration’s proposed tax reform, as an investor you should consider the implications the tax reform may have on the value of the dollar, stocks and other financial assets. Moreover, you should ask yourself whether more individuals and fund managers will diversify into bitcoin as a way to hedge their portfolios using an uncorrelated asset with high returns potential.

If you believe that bitcoin could flourish as an alternative asset under the new tax regime, then you should buy bitcoin before the bill is passed.

Article written by Alex Lielacher, Founder of SmartMoneySmartLiving.com and cryptocurrency expert. 

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[Infographic] Bitcoin’s Volatile Path to Greatness

Bitcoin is already shrugging off the price dip caused by China’s ban on all exchanges and ICO’s. It did not take long for Bitcoin’s price to rebound; the end of the month saw the digital currency reach $4,000 once again. Despite all detractors crying “bubble” and “fraud” Bitcoin continues to grow in price and global adoption. To early adopters and veteran investors, the pattern of dip and recovery is a familiar one and hardly warrants the sensational headlines. They know that Bitcoin is on a path to greatness and the volatile price is merely part of the journey.

“Nobody can stop [Bitcoin] because nobody can control it. The idea that the government can put curbs on this is actually pretty specious.” – Venture capitalist and Facebook millionaire Chamath Palihapitiya

In fact, Bitcoin not only recovers from price dips, but it does so at an incredible rate. Since the September 22 price drop, the price rebounded up to $3,500 and then up to $4,430 in the span of two weeks. The market cap of bitcoin has increased from $59 billion to $73 billion, as its daily trading volume surpassed the $1.2 billion mark once again.  Every sell off of Bitcoin has created an even greater recovery.

Take a look at our latest graphic illustrating how Bitcoin recovers from every fear-based sell-off and continues to grow.

Every price dip is a chance to invest and maximize gains. Ready to get started?

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Bitcoin Bull Run staggered as Major Chinese Exchanges halt withdrawals temporarily

For the past couple of months, whenever Bitcoin price gets momentum and is approaching the all-time high, China has played a spoil sport in ruining the price rise. This happened once at the start of 2017 when the probing of Chinese authorities into the operational model of the exchanges tanked the prices all the way back to $750 from near all-time high. The story of Bitcoin on 9th February is no different, the cryptocurrency was in a study Bull Run and the currency’s proponents were expecting a high breach sometime this week. While everything looked compact, the new announcement of the leading Chinese exchanges Huobi and OkCoin came up with an announcement that made the markets instantly bearish on the short term scale. Let’s dive deep into the details of what exactly happened:

The announcement:

Two of China’s top three Bitcoin exchanges Huobi and OkCoin announced that they will suspend Bitcoin and Litecoin withdrawals for a month effective immediately. During this one month period both the exchanges would set up automated monitoring systems and checks in place to prevent money laundering. While these restrictions are in place, Reminibi withdrawals wouldn’t be affected and no limit is set upon them. Both the exchanges indicated that the upgrade would be to combat “money laundering, exchange, pyramid schemes and other illegal activities”. No update was provided by BTC China on this front.

The reason behind the scrutiny:

China has been facing the problem of ‘Capital Flight’ for some time now. Implementation of ‘Capital Controls’ over various assets hasn’t been fruitful. During the course of 2016, Chinese Government has realized that while Yuan was being devalued, Bitcoin experienced unusual surge in prices. This was because investors were shifting their funds from traditional Chinese assets to Bitcoin. Chinese officials and PBOC have come to a conclusion that Bitcoin is being used for ‘Capital Flight’ and are keen to impose capital controls over the digital currency in 2017.

Effect on Bitcoin Price:

While the currency temporarily is experiencing a short term bearish trend, things would look better after a month’s period when the exchanges become fully functional. The impact of the move shouldn’t last long as Japan has already begun eating into China’s volumes owing to their growing adoption. When the Chinese exchanges imposed transaction fee and put a check on leverage available, the automated traders have sought Japanese exchanges as their new haven. After a little setback, technically Bitcoin market should be able to recover in quick time.

https://bitcoinira.com/wp-content/uploads/2020/03/2020-gold-performance-vs-stocks.jpg

Bitcoin Set to Soar to Record Highs in 2017

Bitcoin is starting 2017 from a position of strength with gains straight out of the gates as the markets opened for trading in 2017. 2016 was a mixed year for Bitcoin traders and investors as the cryptocurrency alternated between exciting highs and gut wrenching lows even though we had more gains than losses. 2017 is already shaping up to be a massively bullish year for Bitcoin traders and investors.

On Monday, January 2, 2017, Bitcoin built enough momentum to cross the $1000 milestone once again after it reached a 3-year high of $1,033. On Tuesday, January 3, 2017, Bitcoin showed that the gains in first trading day of the year were here to stay. As at market close on Tuesday, Bitcoin was already up to $1,062 as it moves towards its all-time high price of $1,216.70 that it recorded in 2013.

Here’s why Bitcoin is soaring

tradeblock

Source: Tradeblock

Bitcoin’s start in 2017 is interesting because it crashed as low as $200 in 2015. In 2016, Bitcoin started the year at around $400. Now, Bitcoin is starting 2017 above $1000 and it trades about 140% higher than its 2016 starting price. Without much ado, 2017 could turn out to be the year that the Bitcoin and blockchain technology gets mainstream adoption for finances.

The first reason behind the upsurge in Bitcoin prices is the increased interest in the cryptocurrency as fiat currencies start to falter in some economies. For instance, Bitcoin is becoming the go-to currency in Venezuela as inflation continues to erode the value of its currency.

In India, the Modi administration has removed the highest denominations from circulation as part of efforts to curb corruption. The removal of large bank notes has a negative effect on trade; hence, Bitcoin is moving in to fill the void.

In China, the wealthy top percentile is using Bitcoin as a measure to evade the government’s tight rein on money transfers. Beijing is very strict on how people can move money in and out of the country but Bitcoin provides a better alternative to the Yuan and USD.

What does the rest of the year hold for Bitcoin?

An objective analysis of the impressive start that Bitcoin has this year shows that speculative trades are fuelling a part of its bullish rally. To start with, the trend towards isolationism in the global political landscape suggests that fiat currencies are at risk of being caught in the crosshairs of an economic cold war. In contrast, the global decentralized nature of Bitcoin suggests that investors would be better served holding Bitcoin than holding other fiat currencies.

Vinny Lingham (@VinnyLingham)CEO of Civik Key and a Shark on SharkTanks notes that Bitcoin could reach $3000 this year because of increased interest in the cryptocurrency. In his words “the faster new money flows into Bitcoin, the quicker old money flows out. Slow & steady stores value. $3k should be our MAX target for 2017”.

Will the Bitcoin auction ruin the bull run?

U.S. Marshals Service Announcement

Whenever there has been a debacle in the Bitcoin world, US government has stepped in and appropriate actions have been taken. More than 2,700 bitcoins were forfeited from various cases revolving around cryptocurrencies. This includes that of the notorious online black market, Silk Road, which was shut down by the FBI in 2013. Silk Road was an online channel for anonymously dealing drugs and selling other illegal goods.

In an announcement released, the USMS said that the online auction will take place on Monday, August 22 from 08:00 EDT to 14:00 EDT. Those interested in acquiring these lost asset have until 12:00 EDT on Wednesday, August 18 to register. It will consist of just one block, and a $100,000 deposit is required.

Block composition for auction

The bitcoins auctioned off this month also include the case involving Carl Force IV. In July, he pled guilty to money laundering and of stealing hundreds of thousands of dollars in the digital currency while working undercover on Silk Road under the codename ‘nob’. He was sentenced to 78 months in prison.

The block might also include bitcoins from Shaun Bridges, former Secret Service agent,  who pled guilty to stealing over $800,000 worth of bitcoins while working on the Silk Roadcase. He was sentenced to serve 71 months in prison.

This auction by the USMS is one of latest involving the digital currency, bitcoin. In November, the U.S. Marshals Service auctioned off the final auction of Silk Road assets. This included 44,431 bitcoins amounting to over $15 million.

Implications on Price

The last time an auction happened for selling recovered bitcoins, there was heavy volatility in the market and the price crashed for a good period. But after the volatility settled market bounced of a base price and surged higher. This provides good opportunity to invest and hold positions for long term.

What can happen this time?

Bitcoin has already surged past $580 mark and is trading over these levels. It has made a base around $465 and is gearing up to test the $600 level. While the price might fall steeply around August 22nd, during the time of the auction, it can prove out to be a very good investment opportunity to go past the $600 mark. It is expected that once the two year high is broken, there is a high chance that the market will continue to stay over these levels.

One thing that can be surely said is that this period has a lot of volatility in store and marking the right prices is very important for investing.