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Cryptocurrency Markets Improve as Bitcoin Hits a Three-Week High


News provided by

Marketnewsupdates.com

21 Feb, 2018, 13:40 GMT

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PALM BEACH, Florida, February 21, 2018 /PRNewswire/ --

MarketNewsUpdates.com News Commentary 

Bitcoin was up 6 percent, rising above $11,500, the highest it has been in over three weeks. Bitcoin's value fell from $20,000 in December to below $6,000 on February 4. This week, the cryptocurrency got a boost after an unknown investor bought $344 million worth of bitcoin between February 9 and February 12. This reportedly triggered a buying spree by crypto enthusiasts. Based on the current political and regulatory climate, it isn't expected that any overarching policies that could affect the market will be implemented in the near future. Innovators in the cryptocurrency market are taking advantage of this steadying force by implementing new strategies and releasing new platforms for investors. It said that cryptocurrencies' underlying blockchain technology could lead to "positive" disruption in finance. Blockchain networks are decentralized, and maintain a continuously growing record of cryptocurrency transactions. Active Companies from around the market with current developments this week include: Bitzumi, Inc., Marathon Patent Group, Inc. (NASDAQ: MARA), Long Blockchain Corp. (NASDAQ: LBCC), NXT-ID, Inc. (NASDAQ: NXTD), NVIDIA Corporation (NASDAQ: NVDA)

Bitzumi, Inc. ("Bitzumi" or the "Company"), a digital content and asset platform that plans to enable users to transact in the cryptocurrency and blockchain marketplace, recently announced the launch of its Regulation A+ offering, allowing any investor the opportunity to own stock in the Company. With the goal of raising $10 million USD, Bitzumi is offering 4,000,000 shares at $2.50 USD per share. The Company has filed a listing application with the NASDAQ Stock Market to list its common stock.

Co-founded by leading cryptocurrency expert James Altucher and Wall Street veteran Scot Cohen, Bitzumi is building a next-generation decentralized exchange and acquiring a network of crypto and blockchain related digital properties. 

View the recent press release for full details about the public Regulation A+ offering at http://www.marketnewsupdates.com/news/bitzumi.html . To participate in the investment opportunity visit http://www.bitzumicorp.com.

Bitzumi is building a next generation decentralized exchange and acquiring a network of crypto and blockchain related digital properties. The Company aims to connect users to the best crypto services through highly-engaged and trusted content, crypto product reviews enhanced by technology and smart infrastructure. Planned future products include a cryptocurrency exchange, digital wallet and educational products.

"It is a unique time to invest in the crypto and blockchain business," said Bitzumi founder and executive chairman, Scot Cohen. "We see the trend in global trading volume and search traffic relating to cryptocurrency and blockchain continuing. Bitzumi does not bet on any one cryptocurrency but rather on the growth of the industry. In launching Bitzumi's Reg A+ offering, we hope to offer all investors the opportunity to participate in what we anticipate will be the next seismic shift in the way all business is conducted," said, Bitzumi co-founder, James Altucher.

In other cryptocurrency, blockchain developments: 

Marathon Patent Group, Inc. (NASDAQ: MARA) closed up slightly on Tuesday at $2.68 by the market close. MARA recently announced that the Company's wholly owned subsidiary Marathon Crypto Mining, Inc., has executed a lease for 26,700 square feet of a 48,600 square foot purpose-built facility in Quebec. As our operations grow, we have the option to lease the entire building. The facility is expected to be completed by month end when the Company anticipates putting its recently purchased 1,400 Bitmain's Antminer S9 miners ("Antminer S9s") into production. The 1,400 Antminer S9s are expected to utilize an estimated 2.0 MW of power once fully deployed and add approximately 19 Ph/s of ASIC mining capacity. The Antminer S9s are able to mine any cryptocurrency using the SHA256 algorithm, including Bitcoin and Bitcoin Cash.

Long Blockchain Corp. (NASDAQ: LBCC) this month announced that it will not acquire the 1,000 Antminer S9 mining rigs and 1,000 APW3++ PSUs pursuant to its previously announced purchase agreement. After thoughtful consideration and in consultation with outside technology advisors, the Company will instead focus its efforts on seeking to enter into and ultimately consummate its previously announced proposed merger with Stater Blockchain Limited ("Stater"), a technology company focused on developing and deploying globally scalable blockchain technology solutions across the financial markets, and exploring additional opportunities and strategic investments across the ancillary blockchain ecosystem. Shamyl Malik, head of the Company's Blockchain Strategy Committee, commented, "While we continue to believe in the value of mining equipment to the blockchain ecosystem, the purchase of these machines - which was negotiated as a no-risk option to the Company - was just one of the multiple strategic avenues we have been considering.

Gino M. Pereira, the President and CEO of NXT-ID, Inc. (NASDAQ: NXTD) recently discussed the company's overall business strategy, its subsidiaries LogicMark, LLC and Fit Pay, Inc. and how the company's payment technology has evolved from the Wocket to flye and now Flip, its new contactless payment device created for the cryptocurrency market. NXT-ID Inc.'s upcoming Flip™ will enable customers to pay with bitcoin wherever near field communication (NFC) payment options are accepted, according to company President and CEO, Gino Pereira.  Flip is a product under which we provide a crypto-wallet, that individuals can deposit bitcoin," he said. "That bitcoin is converted into what is essentially a prepaid debit card, that is then available for use to spend as cash anywhere that accepts NFC payments."  Flip, which will operate on NXT-ID's FitPay platform, will initially only support bitcoin and the U.S. dollar. Pereira said the company plans to expand to other options after the rollout, however.

According to an article published on Motley Fool, during the third quarter of 2017, NVIDIA Corporation (NASDAQ: NVDA) reported that it had generated $70 million in cryptocurrency-related revenues, which accounted for just 3% of its top line. However, that represented a 53% sequential drop from $150 million in the second quarter, and indicated that demand for the GPUs -- which are mainly used to mine alternative cryptocurrencies -- was leveling off. CEO Jensen Huang noted that crypto-related revenues were "small for us, but not zero" during the conference call.  Meanwhile, NVIDIA's gaming GPU revenues rose 25% annually to $1.56 billion, or 59% of the chipmaker's total revenues for the quarter. Therefore, even if cryptocurrencies lose their luster, declines in crypto-related sales would be easily offset by sales of GPUs for its core gamers.  NVIDIA is also posting impressive growth in the data center market, where its high-end Tesla GPUs are being used for machine learning purposes, and connected cars, where its Tegra CPUs power infotainment, navigation, and driverless systems in high-end vehicles. That's why analysts expect its revenue and earnings to respectively rise 37% and 64% for the full year.

DISCLAIMER:  MarketNewsUpdates.com (MNU) is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels.  MNU is NOT affiliated in any manner with any company mentioned herein.  MNU and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security.  MNU's market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities.  The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material.  All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks.  All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release.  MNU is not liable for any investment decisions by its readers or subscribers.  Investors are cautioned that they may lose all or a portion of their investment when investing in stocks.  For current services performed MNU has been compensated twenty three hundred dollars for news coverage of the current press release issued by Bitzumi, Inc. by the company.  MNU HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and MNU undertakes no obligation to update such statements.

Contact Information:
info@marketnewsupdates.com
+1(561)325-8757

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