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Wall Street unveiling “Bitcoin Bonus” for Bankers and Traders

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Wall Street is about to unveil Bitcoin bonus for traders and bankers in the street and will pay bonuses by the end of the year.

Bitcoin has been on the dream run this year with appreciating more than 1500% in 2017, reached its all time high of $19000 in previous week but now facing a little bit of correction and currently price stands at $13000.

Wall Street is looking for commission hungry employees, and this step is towards attracting more talent by offering them bonuses in the form of crypto currency bitcoin.

Banks and brokerages will show them the money, wads and wallets of bitcoins and cryptocurrencies to digitally juice big year-end payouts of hard cash and deferred stock awards to traders and bankers, Wall Street insiders claim.

“The bitcoin bonus could be one of the methodologies in recruiting better talent into your organization,” said Bob Graham, a digital currency expert at accounting and advisory firm Friedman.

The idea of bitcoin bonuses isn’t far-fetched, according to securities attorney Aaron Kaplan, at Gusrae Kaplan Nusbaum.

Partners in some venture funds, as part of their packages, are already accepting “virtual tokens” tied to initial coin offerings now that the rising value of cryptocurrencies has been demonstrated, Kaplan told The Post. “Sure, it is definitely a possibility,” he said of the bitcoin bonus on Wall Street.

The bonus possibility ratcheted up with the Chicago Board Options Exchange (CBOE) and the CME Group launching bitcoin futures contracts. The CBOE contract under ticker symbol XBT begins Sunday evening, and will be equal one bitcoin; and five bitcoins will trade at the CME under ticker symbol BTC beginning next Sunday night.

“We saw a tremendous boost in the bitcoin price once the CME came out and said it was opening up the futures contract,” New York-area commodities trader Dmitry Pichkar said. “It was really kind of endorsing bitcoin as a type of commodity that people, including the institutions, will be able to participate in.”

Crypto currency prices are vulnerable and price can move 20% in either direction on any given day easily, that is the big issue that investors will face in future

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Crypto Market cap reached $275 billion

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Market cap of crypto currencies reached the level of $275 Billion after a spike on 4rth July 2018, Bitcoin maintaining its dominance at 42% , making it the biggest crypto currency in the world.

Bitcoin price currently trading at around $6700 after a 3% spike in the price , making it jump from $6500 to $6700 within minutes, analysts are predicting that this recent upside movement in crypto market in weak and need to sustain these levels in order to attract more buyers, otherwise overall bearish market is still in control.

$7000 is a key level for Bitcoin 

$7000 is very important level for bitcoin according to many technical analysts, If it breaks above $7000 and stays there then chances are that upside move will be healthy, otherwise bear will look forward to take control of the situation again.

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Switzerland merging Cryptocurrencies with conventional banking

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Switzerland is on the right track to become a Crypto nation and country is making efforts to allow cryptcocurrencies to fully access conventional banking .

Bitcoin and other crypto currencies has taken a big hit in brutal bear market of 2018 but that’s not stopping Switzerland to allow cryptocurrencies to fully access conventional banking system within the country. Switzerland is currently in progress and drafting rules and regulations for such collaborations.

Heinz Tännler, Swiss expert & finance director of Zug canton, told media earlier that politicians were moving to allow crypto companies to work with banks, adding that Switzerland’s central bank, financial supervisor and federal government “are willing to help”.

He said: “We hope to clarify relationships by the end of the year at the latest.

“Time is pressing, other jurisdictions such as Malta and Singapore are very active and making a lot of effort to attract these companies. The lack of access to bank services is a significant competitive disadvantage.”

“We have to push certain national institutions to resolve this problem quickly and effectively, but that now seems to be going well.”

Blockchain becoming the global phenomenon 

The concept of Blockchain is interesting and attractive for all the countries, many countries may disagree on the existence and usage of cryptocurrencies, but all of them agree with the fact concept of blockchain is not going anywhere and governments can benefit from this technology in various fields, but if you ask any expert of blockchain, he would tell you that success of Blockchain technology has to be linked with existence of crypto currencies, without crypto currencies, and ecosystem can’t exist, many governments around the world are slowly recognizing the fact and Switzerland is definitely on the right track if they allow crypto currencies to work in collaboration with the Banks, because many banks around the world are not allowing crypto currencies to offer services through them, but this initiative will open many doors in that regards.

 

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Crypto market stabilizing gradually

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Crypto market is stabilizing around $450 billion market cap after gradual increase in overall value in recent weeks.

Leading crypto currencies are on the rise, lead by Bitcoin, Ethereum, Bitcoin Cash and Ripple. Although increase in bitcoin value is less as compared to other crypto currencies but overall market is on rise with current market of $440 billion.

Bitcoin is currently hovering around the $9300 mark after being rejected at $10000 mark couple of times in last days, Ethereum is on the charge as well but the most surprising one is Bitcoin cash. Bitcoin cash was at $600 couple of weeks ago and now at $1600, shows rapid growth in recent weeks.

EOS

Crypto currency of the month has to be EOS, investors of EOS are enjoying a massive rise in value in past few weeks, EOS started April at $5 mark and now is at $18 , value of EOS increased more than 3 times within one month.

Current top 5 crypto currencies

  1. Bitcoin : $9388
  2. Ethereum: $741
  3. Ripple: $0.83
  4. Bitcoin Cash: $1630
  5. EOS: $18.28

 

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