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alfwesh22

The fact that the price of Bitcoin today went past $10,000 for the first time ever will not come as a surprise to anyone familiar with this crazy market. The most-valuable cryptocurrency has had a fantastic year, setting record after reco rd. On January 1, trading opened at $963.

Considering that Bitcoin peaked at over $10,100 moments before writing this article, this means that it is up around 1,048 percent since the beginning of the year. Let that sink in for a moment, and let's move on to more mind-blowing figures.

As a result of this insane growth, the market cap for Bitcoin exceeded $168 billion. That is more than what many tech companies are worth. The list includes IBM, SAP, Nvidia, Broadcom, Qualcomm, Texas Instruments, Adobe, Salesforce, Baidu, VMware, Activision Blizzard, NXP, HP, Electronic Arts, Nokia, Autodesk, Western Digital, Red Hat and HPE, to name just a few.

That is also more than what the whole cryptocurrency scene was worth just a few months ago. For instance, in mid-June the market's cap peaked at around $115 billion. It only went over $168 billion days before September. Today, the market peaked at $310 billion. This growth was not fueled only by Bitcoin though.

Ethereum's performance this year has been even more impressive, though it only recently managed to set a new record above its mid-June high. It's now trading below its $485 high, going for $471. The second-most valuable cryptocurrency is worth $45.3 billion. It is fair to say that the flippening -- the moment Ethereum overtakes Bitcoin -- is not going to happen anytime soon.

Bitcoin recently saw increased pressure from Bitcoin Cash, which briefly overtook it in hashing power before losing ground. Bitcoin Cash sits in third place at the time of writing this article, trading for $1,590. Its market cap is $26.7 billion. It is not the only Bitcoin fork around anymore, with Bitcoin Gold following in fifth place with $343 per coin and a cap of $5.7 billion.

Further down, there are some interesting movements. Litecoin is trading for $92, Dash is at $622, IOTA is going for $1.04 and Monero is up to $185. What is very surprising is the rise of Ethereum Classic, which is up to $33 today. It barely managed to move above $20 before.

In case you are not familiar with it, this is the original implementation of Ethereum, which has failed to gain as much traction in the cryptocurrency market as the second most-valuable coin. Ethereum Classic is worth $3.4 billion.

Where do we go from here? Well, nobody really knows, but what is clear to a number of analysts is that a correction is likely to happen soon. We'll see how the market reacts to Bitcoin's new record in a few days.




alfwesh22

Iran is probably not the first country to pop into your head when thinking about official bitcoin endorsement. In the Middle East alone, the immensely rich Arab emirates of the Gulf are much likelier candidates as they have a tendency to race one other to obtain the latest technological marvels as displays of wealth. Despite this, Iranian government authorities have consistently signaled that they are open to the idea of allowing bitcoin use in the country – as they did once again a few days ago.    
 

Welcome to Iran


Bitcoin Use in Iran Welcomed by Nation
            's High Council of Cyberspace 

Abolhassan Firouzabadi, secretary of Iran’s High Council of Cyberspace, told the Iranian news agency ILNA that his institution supports the use of bitcoin in the country albeit in a controlled fashion. He said: “We welcome bitcoin, but we must have regulations for bitcoin and any other digital currency. Studies are necessary for considering a new currency.”

Such studies are currently underway as a joint effort by both the High Council of Cyberspace and the Central Bank of the Islamic Republic of Iran as the authorities are preparing for bitcoin use inside the country. An official document detailing what the regulators have learned about the virtual currency is expected by September 2018 according to the Iranian daily Financial Tribune.

The secretary also acknowledged that without the government’s stated approve, already “many in Iran are dealing with bitcoin, be it purchasing, selling or mining it, and even dealing with it in exchange shops, creating content and establishing startups”.

Pros and Cons


Bitcoin Use in Iran Welcomed by Nation's High Council of Cyberspace  

From the point of view of the Iranian government, bitcoin must seem like a double-edged sword.

The economy of Iran has long suffered from economic sanctions meant to cut it off from the global marketplace. Having a method to bypass the established international financial system could greatly help the country’s exporters and importers safeguard themselves from outside interference. This is especially true now with hostile actors, such as Saudi Arabia’s new leader and US president Trump, publicly contemplating further punitive measures against Iran.

On the other hand the country’s leadership must be thinking about how to keep its control over the economy, as governments are wont to do, and also to prevent bitcoin from empowering dissidents. The young generation in Iran is considered to be one of the most educated in the region and is especially tech-savvy. Iran famously blocked Twitter during its 2009 presidential elections to slow the spread of protests the government said were instigated from abroad.

This will not be an easy option with bitcoin, even if the government were to discover that foreign entities were using it to fund NGOs in times of political crisis.

“Our view regarding bitcoin is positive, but it does not mean that we will not require regulations in this regard because following the rules is a must,” the HCC secretary added in his recent interview.

Is Iran likely to promote bitcoin use by its citizens? Share your thoughts in the comments section below!




alfwesh22

You might have heard about this bitcoin thing; it’s been in the news a lot. Something to do with it passing $8,000…no $9,000…no, wait, where are we now? It’s hard to keep pace. No one knows where bitcoin will be a day, week, or year from now, but at this moment in time, bitcoin is bigger than the following things.

Bigger, Stronger, Better
In 1966, John Lennon courted controversy by stating that the Beatles were more popular than Jesus. 51 years later and bitcoin is hitting biblical levels of its own. Boasting of what bitcoin is bigger than may seem childish; the equivalent of first graders arguing over whose dad is bigger. Nevertheless, it provides a useful snapshot of where bitcoin is at right now, and of how far it’s come. It’s also a helpful way of quantifying an intangible asset.

It was four years ago today that bitcoin surged past $1,000 for the first time. That milestone seems quaint now: bitcoin has gained $100 billion in the last month alone. The virtual currency is officially now bigger than several venerable institutions and major countries.

10 Things Bitcoin is Now Bigger Than
Bitcoinity’s ticker on November 27 2013, when $1,000 really did feel like the moon.

                                              PayPal
Bitcoin surged past PayPal weeks ago, and is on course to double the market cap of the payment processing company soon.

                                           McDonald’s
The world’s most famous fast food company has a market cap of $135 billion. Bitcoin, at $163 billion, looks superd in comparison.

10 Things Bitcoin is Now Bigger Than
Should have bought bitcoin.

                                                  IBM
The enterprise computing giant has a market cap of $140 billion. Bitcoin is worth almost $25 billion more.

                                                Disney
The current value of all Walt Disney stock is $155 billion. Who needs Disneyland when you’ve got the bitcoin rollercoaster to ride?

10 Things Bitcoin is Now Bigger Than

                                   General Electric

You might have heard of GE; they were once the largest company in the world and still retain almost 300,000 employees. Bitcoin, on the other hand, has zero official employees, and yet is worth several billion dollars more.
10 Things Bitcoin is Now Bigger Than
                               

                                Bill Gates and Jeff Bezos

10 Things Bitcoin is Now Bigger Than  

Bill Gates is worth ‘just’ $87 billion, though if the benefactor hadn’t given away 700 million Microsoft shares plus other donations to charity, he’d be worth $150 billion. The first person since Gates to exceed a net worth of $100 billion is Jeff Bezos. The Amazon CEO’s assets place him on a par with the cryptocurrency market excluding bitcoin and bitcoin cash.

            The Total Supply of Currency in Denmark
Bitgo’s Jameson Lopp has bitcoin currently at 27th in theworld’s top currencies, ahead of Denmark and level with Venezuela. His M1 index lists “the total quantity of currency in circulation (notes and coins) plus demand deposits denominated in the national currency”.

                 135 of the World’s 191 Countries

Bitcoin’s presently nestling between the GDP of Kazakhstan and Qatar. Next in its sights? Romania, Greece, Czech Republic, and New Zealand.

                             Korea’s Largest Financial Exchange

  10 Things Bitcoin is Now Bigger Than  

This one’s cheating, cos to outmuscle Korea’s Kosdaq exchange you have to include the value of the entire cryptocurrency market. Nevertheless, it’s another milestone: at $300+ billion, cryptocurrency is worth $25 billion more than Korea’s Nasdaq. The cryptocurrency market is also worth $50 billion more than Visa.

Bitcoin’s transformative value is about much more than its current price against the US dollar – that merely provides an indication of the growing demand for the cryptocurrency. As veterans will confirm, the virtual currency is just as capable of going sideways or south for extended periods. While it’s fun to marvel at bitcoin’s growth, it’s important not to get too carried away.

If you’re new to bitcoin, start saving with it, transacting with it, using it for remittance, and repurposing it in any other way you see fit. Only then will you start to appreciate the true value of bitcoin.

Do you think bitcoin can maintain its incredible trajectory, or is a correction inevitable? Let us know in the comments section below.




alfwesh22

The resignation of Robert Mugabe from President of Zimbabwe after four decades  appears to have spurred its citizens even further into the waiting digital arms of the world’s most popular cryptocurrency, bitcoin, and to a new global high of $17,875. After years of theory and debate, the decentralized currency has its real-time case study as a refuge for those seeking to store their wealth in a medium that will hold its value or better. 

Zimbabwe as a Bitcoin Case Study
A local analyst noticed it “looks like people [of Zimbabwe] trust bitcoin more than anything else to maintain the value of their money. That is what’s propelling the price.” Almost immediately after the new President was sworn-in,  Golix, a local exchange in Harare, showed bitcoin collecting a near twenty percent premium, lifting it to almost a clean ten thousand dollars above then-traded prices outside of the country.

The struggling nation is beset by inflationary problems the likes of which haven’t been seen since the Weimar Republic’s Reichmark days of the early 20th century.

As at least part of the reason why the Mugabe regime fell, former Minister of Finance, Ignatius Chombo was promptly arrested and charged with corruption and abuse of power. As of this writing, his bail is being reported as denied.

International press outlets also report Mr. Chombo owns one hundred properties throughout the country, though he has spent the better part of the last 20 years in various low-level government agencies.

The new President, Emmerson Mnangagwa, appointed previous Minister of Cyber Security, Patrick Chinamasa, to act as Minister of Finance until a cabinet is in place.

After
            Mugabe, Zimbabwe Pushes Bitcoin to $17,875
 

Crypto is a Safe Haven from Fiat

Although its citizenry is smartly moving away from disastrous government-issued money, that hasn’t stopped the same state agents from issuing baffling decrees. As reported in these pages, the country’s Reserve Bank director announced recently, “In terms of the bitcoin, as far as we are concerned, it is not actually legal … and until we have actually established and come up with a legal and regulatory framework for them, it will not be allowed.”

A key aspect of cryptocurrencies is their permissionlessness. Bitcoin does not care whether it is allowed or not.
“For Zimbabweans,” Reuters reports. “the cryptocurrency seems to offer rare protection from fears of a return to hyperinflation and financial implosion. On the streets of Harare, black market rates for U.S. dollars continued to ease. It cost $140 using electronic bank transfer or ‘Zollars’ to buy $100,” down ten dollars from just a few days ago. “In the grip of acute shortages of U.S. dollars, Zimbabweans are piling into anything they think might retain value.”

What do you think of Zimbabwe pushing bitcoin’s price? Tell us in the comments below!




alfwesh22

The cryptocurrency market cap has breached $300 bln, according to marketcap.com, with gains in many of the major currencies, particularly as  Bitcoin price has jumped over $9,500. The market cap has been driven by a number of factors, but Bitcoin continues to maintain a 53 percent dominance in the total cap.

The market cap surge has been spurred on by a huge jump in the value of Bitcoin, but other coins have also had excellent weeks. Ethereum and Litecoin had particularly strong weeks, with Ethereum posting an all-time high and other altcoins like Monero, IOTA, and Dash all had a strong showing as well.

What’s driving the market?
The market cap increase is reflective of a general feeling among market movers that the cryptocurrency market will continue to grow. Investors are beginning to join in the market and are producing substantial gains. The increase in hedge funds, as well as the general awareness in the market, are both strongly bullish signals for the market.
The last Bitcoin climb was coupled with declines in altcoins, but this run up has carried altcoins with it. This may well be a strongly bullish sign for the market as a whole. According to many insiders, the market has just begun it’s bull run, with increasing investment coming. According to Mihail Lala - founder and creator of WAWLLET:
"Gravity is the key element. The investment rivers fed a 300 bln lake due to a natural flow. The market is attracted by need and opportunity. We are just at the beginning of early majority. The lake is just 15 percent loaded."




alfwesh22

The total cryptocurrency market cap has achieved another historic milestone. Buttressed by a record-setting bitcoin price rally, the total crypto market cap has crossed the $300 billion threshold for the first time — making the combined capitalization of all cryptocurrencies more valuable than Bank of America.

In the past week alone, the total cryptocurrency market cap has grown by more than $60 billion — a number the crypto market cap reached for the first time on May 17. It has only been six months since that achievement, but the crypto market cap has already increased fivefold, bringing it to a new all-time high of $305.1 billion on Monday morning.

The crypto market cap surpassed Visa’s total valuation on Friday, and on Sunday morning it raced past both Wells Fargo and Bank of America — two banks that received government bailouts during that same financial crisis referenced by Satoshi in the Bitcoin genesis block.

Bitcoin Price Eyes $10,000
The crypto market cap surge came on the heels of an unprecedented bitcoin price rally that saw the value of the flagship cryptocurrency increase by $1,000 in less than two days. In the past week, the bitcoin price has risen by 20 percent, and — despite a  $500 dip this morning — continues to challenge the $10,000 mark. At present, the bitcoin price is trading at a global average of $9,628, which translates into a $160.8 billion market cap.

The bitcoin price has been in an uptrend for the vast majority of the year, but it is likely that the pace has quickened due to the impending launch of bitcoin futures contracts on U.S. derivatives exchange CME. The exchange operator has previewed that this product will be available in early December, and traders appear to be pricing in the event before it arrives. It remains to be seen what effect the official listing of futures contracts will have on the bitcoin markets.

Ethereum Price Tests $500
Though the bitcoin price is consuming most of the headlines, the ethereum price has been setting records of its own. This morning, the ethereum price rose to a new all-time high of $493, although it has not yet been able to crack the $500 barrier. At present, ethereum is trading at $476, which represents a 24-hour increase of three percent and translates into a $45.7 billion market cap.

Bitcoin Gold Debuts in Fifth
The altcoin markets have more or less caught bitcoin’s tailwind, enabling many other cryptocurrencies to reach historic milestones of their own.

The bitcoin cash price rose three percent to $1,639, increasing its market cap to $27.6 billion. The ripple price, however, traded sideways, preventing its valuation from breaking through $10 billion. CoinMarketCap has added bitcoin gold to its index, and the coin debuted in the fifth position with a total capitalization of $6.1 billion.

The addition of bitcoin gold to the index forced litecoin down to sixth, despite the fact that its price has now risen to just under $90. The dash price posted a rare pullback following an extended rally, while the NEO price has set the $40 mark in its sights. IOTA clawed its way back into the top 10 with a 17 percent surge, and monero rounded out the top tier with a minor decline to $161.

Nevertheless, there is one more market achievement worthy of note. On Monday, the total number of “crypto unicorns” — coins or tokens that have market caps exceeding $1 billion — rose to a new all-time high of 15. Additionally, there are five more cryptocurrencies with valuations above $800 million, meaning that the billion-dollar club could be about to get significantly less exclusive.




alfwesh22

Bitcoin, the largest cryptocurrency by market value, surged to yet another new record high on Monday, breaking the $9000 barrier.

After shooting up 45 percent over the past two weeks, Bitcoin cracked the $9,400 level on Sunday for the first time.
It traded at an intra-day record high rate of $9,771 at one point Monday before losing over $500.

Coinbase, one of the largest platforms for trading bitcoin and rival ethereum, said about 100,000 accounts were added around the Thanksgiving weekend. Coinbase is the largest bitcoin exchange in the U.S.
The digital currency surged some 870 percent this year, adding to 120 percent gain it made in 2016.

Bitcoin is fast approaching five figures, according to analysts and investors.
Investors continued to rally behind the world's no. 1 digital currency despite warnings of a price bubble in what not everyone agrees, is an asset.

In a recent poll among chief financial officers on CNBC's Global CFO Council, just 14 percent of the executives said bitcoin was "real and going higher."
27.9 percent thought bitcoin was "real but in a bubble" while an equal number of respondents thought the cryptocurrency was a "fraud."

Currently, there are 14 cryptocurrencies with a market value of $1 billion or greater. The combined value of all cryptocurrencies in circulation reportedly is more than $300 billion.




alfwesh22

If it seems like bitcoin is hitting new highs more frequently, it’s not just your imagination. The cryptocurrency is smashing through psychological barriers—that is, big round numbers—with increasing frequency.

In part, this is simple math: The jump from $1,000 to $2,000 is much steeper, in percentage terms, than from $8,000 to $9,000. Still, as bitcoin surpasses each new symbolic level it generates more attention, potentially attracting more buyers who want to get in on the action.

Bitcoin passed $9,000 for the first time yesterday (Nov. 26), just a week after it crossed $8,000. It took a bit over two weeks to do the same thing between $7,000 and $8,000. And so on, and so forth. Behold:

Days to hit bitcoin price milestones from $1k to $9k
 
Bitcoin has traded as high as $9,700 so far today, so it may hit the $10,000 mark before too long. The trader who bought the first long-term call option on bitcoin at a $10,000 strike price by Dec. 28 next yearwill be pleased.
Then again, the cryptocurrency is so volatile, there’s no guarantee that it can sustain its current rate of rapid growth for that long. After all, remember it took than three years for bitcoin to recover from a major crash at the end of 2013, shortly after it hit $1,000 for the first time.




alfwesh22

Judging solely by mainstream news reports, one sometimes might be mislead to think that only hackers, ransomware criminals and cyber punks are involved in the bitcoin community. In fact, people of all kinds are members of the growing bitcoin user-base and they engage in all kinds of economic activities, including charity. And due to the rapidly increasing value, bitcoin users now have more to give than ever before.   

 The Paxful Nursery
A recent example of the giving power of the bitcoin community is a social venture by Paxful – one of the largest peer-to-peer (P2P) bitcoin marketplaces in the world.

Speaking with news.bitcoin.com, Ray Youssef the CEO of Paxful said: “We have built several wells and a nursery school in Rwanda just recently. Our plan is to build 100 more schools in Africa, all  #builtwithbitcoin and to get the entire scene into it.”

Paxful
        to Help Fund 100 Schools in Africa #BuiltWithBitcoin  

He explained the motivation by adding: “Instead of yellow lambos we can make a real difference in people’s everyday lives and help communities. We found the very best people working with an NGO called ZamZam Water where 100% goes to the people.

The center includes three classrooms and four restrooms with a potable irrigation system as well as a 15,000 liter water tank and water-catchment system. In total, 7,500 children between the ages of 3-6 will benefit from the project.
As for future goals Youssef said: “This is just the start and we already have 3 more wells and 2 more schools planned. Our goal is to do this ourselves if need be, but the more help the faster we can go.”

While Rwanda is recovering from the tragic events on the early 90’s there are many areas of the country that still lack basic infrastructure, water, electricity and education. One such area is the Bugesera District where the new Paxful nursery is built in Kasebigege Village.

This initiative also involves building over twenty community gardens for sustainable agriculture.




alfwesh22

For the people who assumed we were done with ridiculous Bitcoin fork names, the reality looks very different. More specifically, the launch of Bitcoin Diamond is almost upon us, and it will serve as yet another airdrop for existing Bitcoin users. After Bitcoin Gold and Bitcoin Diamond, there are still a lot of precious metals to use for new fork names. This is all a bit immature, but if it makes people money, no one will complain too much.

                                BITCOIN DIAMOND IS A PRIVACY-ORIENTED BITCOIN FORK
There are many things we do not find in Bitcoin in its current form. That shouldn’t really surprise anyone, as Bitcoin was never designed to be the perfect cryptocurrency. It has gotten a lot of attention over the years for being the first major cryptocurrency of its generation, but there are still a lot of glaring issues which need to be resolved. First of all, there is no such thing as anonymity or privacy when using Bitcoin. For many people, this is perhaps the biggest issue to deal with right now.

Bitcoin Diamond, another hard fork of Bitcoin, claims to solve this problem. The soon-to-be-released altcoin will fork once the Bitcoin network hits block height 495,866. By the time you read this article, that network block should have been discovered by miners already. It is the third major airdrop Bitcoin users will receive this year, not counting the B2X coins from the borked SegWit2x launch. It has been a profitable year for BTC holders in many different ways; that much is certain.

What Bitcoin Diamond claims to offer is privacy first and foremost. It seems this fork’s developers have found a way to encrypt the transaction amounts and balances of all BCD users. It sounds somewhat similar to Monero, but it is doubtful the Bitcoin Diamond implementation is even half as competent. A GitHub repo has yet to be created for this altcoin, but that may change once the correct block is found on the Bitcoin network.

Bitcoin Diamond boasts it will provide fast transactions thanks to its 8MB block limit. This means the new fork has copied some code from Bitcoin Cash in this regard. On-chain scaling will always be debatable, as there are many reasons why it is not a long-term solution whatsoever. At the same time, it can alleviate network congestion until a more future-oriented solution can be implemented. It does not appear as if Bitcoin Diamond has plans to further increase the capacity of blocks.

What is rather worrisome is how there will be 210 million BCD in circulation. This supply is 10 times as large as Bitcoin’s, further confirming this is not a direct hard fork. It is another altcoin riding the coattails of Bitcoin in an attempt to net the developers a lot of money in short order. It uses the X13 mining algorithm, which should give GPU miners something to do. Surprisingly, Bitcoin Diamond also supports SegWit, according to its website. That’s quite remarkable, although this is not necessarily a currency capable of dethroning Bitcoin.

The website also mentions that Bitcoin Diamond will be supported on several exchanges right out of the gate. That’s very suspicious, as it indicates that exchange owners are colluding with these developers to make a quick buck. It remains to be seen whether or not entities such as Huobi, OKEX, and ZB.com will actually support this currency. Moreover, the list of supported wallets seems very dubious as well. BitGo has not indicated it will support any other currencies, and certainly not Bitcoin Diamond. Be very wary of this project, as the number of lies is quite high.




alfwesh22

The price of bitcoin (BTC/XBT) has spiked once again, reaching a new all-time high of $8,649 per BTC across global exchanges. A few days ago the price dipped below the $8K range, but subsequently rebounded to the $8200 region holding some stability. Now on November 25, markets have kicked into high gear pushing bitcoin’s value to new heights.

#Bitcoin’s Price Touches a High of $8,649 Across Exchanges
Bitcoin is at it again surpassing all new price highs across global exchanges. BTC prices are hovering between $8,540-8,600 at 9:30 am EDT. At the moment bitcoin trade volume is roaring, as trading platforms are swapping roughly $4.4B USD worth of BTC over the past 24-hours. During the early hours of November 25, the price started climbing above the $8300 territory but didn’t stop there. The Japanese yen is still the dominating currency by volume, at the moment, followed by the U.S. dollar and South Korean won trailing behind. The top five exchanges trading the most volume this weekend include Bitfinex, Bithumb, Poloniex, Hitbtc, and GDAX. Although, bitcoin dominance is around 52 percent of the aggregated total of all cryptocurrencies, and this is due to a few altcoins gaining steam as well.
Markets Update: Bitcoin Bulls Push the Price Above $8600
The Japanese yen dominates BTC volume by currency by 57 percent. Interestingly Tether USDT is #5 in global volume.
 

Technical Indicators

Charts look bullish, and buyers are in charge of bitcoin markets right now. While looking at the two moving averages, the 100 Simple Moving Average (SMA) and long-term 200 SMA are touching at the moment. The two trendlines converged when BTC prices dropped, but now a spread is about to take place, with the 100 SMA rising above the 200 SMA. This indicates the path to the upside is still in the cards. Stochastic is reversing northbound, showing market optimism is also in the air, and the RSI is following the oscillator’s path. Using Fibonacci retracement (golden ratio) at 61.8 percent shows bitcoin prices could reach $9150 in the near future. However, order books show some heavy resistance in the $9K region and we’ll likely see some sell-off at this point.

Markets Update: Bitcoin Bulls Push the Price Above $8600
The price per BTC reached an all-time high of $8,649 across global exchanges on Saturday, November 25, 2017.
 

Digital Assets Markets In General

Markets Update: Bitcoin Bulls Push the Price Above $8600  
 
Cryptocurrency markets, in general, are also doing very well as many other digital assets are reaching new price peaks. Ethereum (ETH) is getting close to testing $500 support but is currently averaging $470 per ETH on November 25. The digital asset bitcoin cash (BCH) has also had an excellent week as South Korean markets pushed the price above the $1,700 territory this week. At the moment BCH markets are down 3 percent, with a price of $1,600 per token across global exchanges. The currency ripple (XRP) is up 3 percent today as one XRP is roughly $0.24. Lastly, dash has pushed litecoin out of the top five position reaching an all-time high of $620 as dash markets are up 10 percent. Litecoin (LTC) is up however by 11 percent and is $83 per LTC at press time.

The Verdict
Overall, market participants are very pleased with the price actions as most crypto-markets are in the green. The general market capitalization of all cryptocurrencies is steadily approaching the $300B USD mark, and could reach that point this week. Every digital asset is swapping over $12B in global trade volume every day, and this metric continues to rise.

Bear Scenario: Some bearish market sentiment could lead to BTC prices we saw yesterday in the $8,200 region. There’s small amounts of support in the $8,400 zone and  $8,200 zone, and it would take a decent correction to plunge below the $8K region. If that happened to come to fruition expect some more decent foundations within the $7,900 territory.

Bull Scenario: Buyers own the market right now, and bulls are on a stampede. Traders need to break past the $8,700-8,800 region before they get closer to the $9K spot. There will be some solid resistance from the current vantage point on up. Prices could exceed $9K, and some Fib-retracement shows a top around $9150 for now.

Where do you see the price of #bitcoin going from here? Let us know your thoughts in the comments below.

 




alfwesh22

Everyone knew it was only a matter of time until the Bitcoin price would reach a new all-time high. The year 2017 has been incredibly bullish for the world’s leading cryptocurrency and the party is far from over. Despite some massive push-back the past few days, we now have a Bitcoin price of just over $8,500. A remarkable milestone for a currency so many people are willingly ignoring to this very day.

                                            ANOTHER ALL-TIME HIGH BITCOIN PRICE


With numerous all-time highs, theBitcoin price continues to amaze a lot of people. This is only to be expected at this point in time, though, as the world’s leading cryptocurrency has been flexing its muscles all year long. Whereas financial moguls such as Jamie Dimon may doubt the potential of Bitcoin, the rest of the world seemingly disagrees. Surpassing $8,500 for the first time in history is a remarkable feat, especially for a currency that isn’t even ten years old.

It is not the first all-time high for the Bitcoin price in Q4 of 2017 either. The momentum has turned even more bullish ever since October has come around. After all, back then, once Bitcoin was barely worth over $4,500, which was a whopping 450% increase compared to January of this year. In October, few people assumed we would surpass $6,000, let alone reach $8,500 before the year was over. it is evident there is no stopping Bitcoin right now from reaching that magical $10,000 mark, although it will not be easy by any means.

With these strong Bitcoin price gains over the past few months, it will be interesting to see how things play out when Christmas comes around. A lot of people will convert small amounts of Bitcoin to fiat for spending purposes. However, the dip may not be as steep as most people would like to see either. There is a lot of bullish momentum left in the Bitcoin world, as this latest all-time high materialized after struggling to maintain the $8,000 level these past few days. No one knows how this will evolve in the days and weeks to come, that much is evident.

With over $4.32 bn in 24-hourtrading volume, this global demand for BTC should not be underestimated whatsoever. It is pretty interesting to see this massive amount of trading volume for Bitcoin right now, as we started the year with around $1b of trading volume. at that time, that was considered to be a major milestone, but things have certainly evolved in a nice direction ever since. It may only be a matter of time until reaching $5bn per day becomes the new normal, but it is still too early to say for sure.

Bitfinex is still destroying most other exchanges ranked by Bitcoin trading volume. Their USD and ETH markets both generating six-figure numbers, with the USD market clearly in the lead. Bithumb is in second place again, which is good to see. There is also a massive amount of ETH volume from Poloniex, as people are seemingly cashing out Ethereum profits and buying Bitcoin with them. At the same time, the Ethereum price isn’t budging all that much either, which may create an interesting paradigm moving forward.

How all of this will play out in the long run, remains to be seen. With the Bitcoin price over $8,500 – at least temporarily – the future is looking incredibly bright. At the same time, a higher price will inevitably lead to even more market volatility, which may spell trouble up ahead. This is an interesting time to be involved in cryptocurrency, regardless of how much your portfolio is worth right now. This is only the beginning of what is yet to come for Bitcoin and the altcoins which have actual potential.  




alfwesh22

International bankers are daily confronted with an eight hundred pound gorilla hogging every conversation, bitcoin. Sberbank’s Herman Gref is begrudgingly accepting of cryptocurrencies in a region openly hostile; Deutsche Bank is dismissive, UBS is cautious, Swiss National Bank is worried, and the European Central Bank views bitcoin as not impactful. Whatever their statements, they’re no longer claiming ignorance. 

Bankers’ Heavy Sigh
“Virtual currencies,” Russian banker Herman Gref of Sberbank began, “are a natural outcome of blockchain technology. We may ban them, we may welcome them. It is trendy to urge people not to play with them. But they are a fact of our life.”

Russia as a financial governing region has been unusually hostile to cryptocurrencies, going so far as to propose projects of state-backed cryptos as a strike to tame enthusiasm.

Mr. Gref continued, “Protectionism is just the first reaction of the state. However, both the institution of private money and the states, which will dare to change the way currency is issued, will eventually find a place for cryptocurrencies in the economy,” he said, marking an exceptionally philosophical outlook for some in his position from any region.

International Bankers Realize Bitcoin is
Herman Gref
 
Sberbank is state-owned, and is the largest bank in Russia, third biggest in Europe though based in Moscow.
Russia Today characterized Mr. Gref’s remarks as advising “not to ban it. The banker added that blockchain is a gigantic opportunity for businesses, including small enterprises.”

Not Recommended
Deutsche Bank’s Ulrich Stephan was a bit more skeptical, saying, he “would simply not recommend this to the everyday investor.” Bitcoin is too volatile, he warned. Deutsche Bank, based in Germany, ranks as the 16th largest in the world.
His comments match those of UBS’s Axel Weber, who said, “At this point, I‘m very cautious about bitcoin as an entity.”

International Bankers Realize Bitcoin is
Ulrich Stephan
 
European colleagues in Sweden are attempting a less-cynical attempt to head off crypto’s growing popularity, introducing a central bank-backed “e-krona.” It “would have the potential to counteract some of the problems that could arise on the payment market in the future,” stated Riksbank.

Many Unsolved Questions
“Central banks are working on this [the issue of crypto currencies] very intensively,” Swiss National Bank Chairman Thomas Jordan explained. “It is important to say it is not question of technology, but a question of who has access to central bank money and in what form. There are up to now many unsolved questions,” he warned.
Central banking seems to be on the mind of most Euro bankers when it comes to bitcoin.

No less than Mario Draghi of the European Central Bank dismissed the decentralized currency altogether, and speaking for the economic zone he said, “We think that all this is pretty limited. So it’s not yet something that could constitute a risk for central banks.” Perhaps the key phrase is “not yet.”

International Bankers Realize Bitcoin is
Mario Draghi
 
When added together, prominent bankers’ positions on bitcoin is best summed up by France’s BNP Paribas, ranked 8th in the world. “The potential threat to central bank seigniorage [the profit a government makes from issuing currency], worries about money laundering, financial stability, tax avoidance and crime, all make regulatory moves elsewhere possible,” the bank said.

The French bank agrees crypto’s potential threat will be slowed by what most bitcoiners believe to be its greatest asset, the lack of a central bank.

What do you think of prominent bankers’ take on bitcoin? Tell us in the comments below!




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The world's most popular cryptocurrency surpassed $8,500 on Saturday at 9:30am GMT, setting another record high. Bitcoin is up over 850 percent this year.

November has been an extremely volatile month for bitcoin. Earlier this month, the digital currency price fell to $5,500 after developers scrapped the SegWit2X update, leading some miners and investors to shift to offshoot bitcoin cash.
However, bitcoin returned to growth on news that the Chicago Mercantile Exchange would start trading futures on the digital currency.

The cryptocurrencies have also been boosted by interest from institutional investors. Goldman Sachs and Citigroup have said they are researching cryptocurrencies and the blockchain technology that underlies them and may add them to their portfolio.

Bitcoin started the year just above $1,000, and the overall growth now is approaching 850 percent. The cryptocurrency’s market capitalization has reached $142 billion. That makes bitcoin more valuable than major corporations like Siemens, Mastercard, British American Tobacco or McDonald’s.




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Modern Mobile-Only Bank Revolut Says Bitcoin Not a Fraud

Seemingly the voice of the musty old traditional bankers, Jamie Dimon’s vitriol about Bitcoin a few months back set the tone for opinions of that breed of traditionalist. There is opposition of course, but unsurprisingly the opposition is also coming from the younger, more modern thinkers.

Revolut , a digital banking alternative, CEO Nikolay Storonsky, disagree with Dimon’s famous words of ‘Bitcoin being a fraud.’ Indicating that the mobile-only banking solution is looking at launching cryptocurrency support by December.

Old vs. New

As the rhetoric and vitriol spouted against Bitcoin by bankers start to sound repetitive and a bit stale, it is becoming increasingly obvious that there is fear and uncertainty in the marketplace. Banks have had a monopoly over money for more than a century, yet there is disruption on its way.

That monopoly is now being challenged, firstly by technology such as cryptocurrencies and their influence as a digital alternative to fiat. As well as by startups like Revolut, who are behind Bitcoin and its related coins, and who are trying to change the established banking model.

Not a fraud, more like gold
In Storonsky’s opinion, Bitcoin is far from being a fraud, as Dimon puts it, but he rather sees the coin being like gold - and there is strong arguments that Bitcoin is becoming a digital gold as it evolves.

"They are definitely not a fraud," Nikolay Storonsky said.
He went on to add that he believed that people are less likely to use Bitcoin for everyday transactions, but that does not count against the original digital currency.

Many are touting Bitcoin Cash as the alternative to Bitcoin that has the ability to be used like cash, with its lower transaction fees and quicker times. Yet, despite less real-world application for Bitcoin, there is huge value in it.
"Real-world usage for gold is quite limited. But still there is a huge market, huge volumes that are being traded in the market and these volumes determine the gold price," Storonsky said.

"The question, 'Where is the real gold price?' No one knows. It's the same with Bitcoin. Volumes are increasing, the price is shooting up, there is no implication of Bitcoin in the real world, it's quite limited."

Changing the mindset
While Dimon and his cronies sit on one side of the Wall Street divide, the lines are softening. The usual calls have been that Bitcoin is in a bubble, while others have literally said that the bubble is only beginning.

Credit Suisse CEO Tidjane Thiam has said:
“From what we can identify, the only reason today to buy or sell Bitcoin is to make money, which is the very definition of speculation and the very definition of a bubble."

But on the other side of things, Mike Novogratz agrees there could be a bubble, but there's also money to be made.
“Prices are going to get way ahead of where they should be. You can make a whole lot of money on the way up, and we plan on it.”

What is clear despite the back and forth between the bankers, is that Bitcoin is a force that should be taken seriously, it no longer lacks credibility and is infiltrating the market. Even the bigwigs at Goldman Sachs have changed their tune stating:

“With the total value nearly $120 bln, it’s getting harder for institutional investors to ignore cryptocurrencies. There are currently over 800 cryptocurrencies out there, though just 9 have a market cap in excess of $1 bln.”
Those figures are already very outdated...




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It’s quite hard to understand what actual stance JPMorgan Chase has on Bitcoin and cryptocurrencies - given recent statements made by CEO Jamie Dimon.
The multinational banking and financial services giant announced plans to launch trading of Bitcoin futures on the Chicago Mercantile Exchange (CME), but the head of the institution has been no less bullish on his stance on Bitcoin.
“You can’t have a business where people can invent currencies out of thin air and think that people who are buying it are really smart. It’s worse than Tulip Bulbs; it won’t end well. It’ll eventually blow up; it’s a fraud.”
Wait.
The CEO of one of the biggest financial institutions in the world is telling us that cryptocurrencies are a fraud - yet his company is preparing to get in on the action.
There seems to be a major discrepancy between the CEO’s own thought’s on the matter and the bank’s business plans.

With Bitcoin hit a new high well above $8,000 this week, the sentiment towards the virtual currency and it’s altcoin successors is steadily changing.

If and when CME gets the go-ahead to open trades on Bitcoin futures in the coming weeks, it wouldn’t be surprising to see the likes of Dimon and other naysayers change their tune towards cryptocurrencies.

While the business dealings of the company’s Swiss offices faced heavy scrutiny this month, it’s not hard to see why the bank would look into every avenue to make money.

The reality of the situation is that financial heavyweights like Dimon have the ability to manipulate the markets with every public statement they make. Dimon’s attack on Bitcoin in September saw the price drop, showing just how much sway he has in the financial world.

Perhaps Dimon wanted a slice of the cake and wanted to cause a stir in the market, forcing the price to fall before buying up a load of Bitcoin himself. That is pure conjecture, but it’s a real possibility.

While governments, banks and financial institutions continue to drag their feet in adopting cryptocurrencies, Bitcoin, Bitcoin Cash and Ethereum price continue to rise.

Sentiments are likely to change in the coming months and 2018 holds a lot in store for the crypto world.
While Dimon takes a hard line against Bitcoin, the likes of ex-hedge fund manager and billionaire Mike Novogratz are all for it.

Novogratz conceded that Bitcoin might be in a bubble, but that didn’t stop the mogul from predicting that the cryptocurrency would soar to a $10,000 high next year.
“I can hear the herd coming. I was in San Francisco and met with a few big institutional investors and they’re still a little ways away, but they’re coming. Lot’s of funds are being raised.”
The 52-year-old’s recent return into the financial space, sparked by the interest in cryptocurrencies, says a lot about the growing buzz in the space.
As more highly influential investors come on board, it’s only a matter of time until the rest follow suit.




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One of the first foreign cryptocurrency companies to take advantage of a Russian free trade zone is based in Hong Kong. Among other ventures, the company plans to build a cryptocurrency mining farm, a crypto museum, and provide training on a Russian island.

Mining Farm on a Russian Island
 

Hong Kong Company Set to Launch Crypto Mining Farm and Museum on Russian Island
Russky Island.
 
A Hong Kong-based company called Genesis Engineering is planning to set up a cryptocurrency mining farm and an artificial intelligence laboratory on Russia’s Russky Island, RT reported on Thursday. The island is located off the coast of the Russian Far East city of Vladivostok.

Genesis Engineering is a joint venture between Btc Inc and Genesis Mining, created earlier this month. “The venture will focus on development in regions around the world that have excess energy capacity, including the Americas and Eurasia,” the companies described.
According to the Ministry for Development of Russian Far East, as reported by RT:
The company is interested in the region’s free plots of land and energy facilities, as well as preferential tax and customs duties. It plans to set up around 300 thousand square meters of production facilities, following a pilot project.
The company also plans to develop training programs. “We propose to create a showroom, a museum of cryptocurrencies and blockchain…We are ready to finance this project,” Genesis Engineering representative John Riggins explained. “Moreover, we are ready to pay for the training of the best students, to participate and to fund university studies in this area.”

In addition, the company is also interested in creating an artificial intelligence laboratory since it has “created similar labs together with the Moscow State University and the National University of Science and Technology MISIS,” the news outlet added.

What Does Vladivostok Have to Offer?
 

Hong Kong Company Set to Launch Crypto Mining Farm and Museum on Russian Island
Vladivostok.
 
Vladivostok is the largest city and the capital of Primorsky Krai, the largest federal subject in the Far East in terms of economic and population. It has recently been chosen as the pilot city for establishing two cryptocurrency agencies in Russia. At the end of October, news.Bitcoin.com reported on the formation of Vladivostok’s crypto-detective agency and crypto-advisory agency.

 

“The free trade zone of Vladivostok covers Russky Island, so the tax preferences and the possibility of applying for a free customs zone are available to investors,” RTdetailed. “Russia’s Far East regions and the city of Vladivostok are expected to become an Asian hub for trade and transportation.”
Valentina Lokhmanova, Deputy Director for Investments of the Far Eastern Energy Management Company, said:
The island’s territory has the potential for both electric and thermal power, which is enough to provide the consumer with power for the first stage.
Hong Kong Company Set to Launch Crypto Mining Farm and Museum on Russian Island  

Last week, State Duma deputy Boris Chernyshov sent a proposal to the Ministry of Industry and Communications and the Ministry of Communications with an initiative to build a mining city in Russia. He envisioned the city fully engaged in cryptocurrency mining near a large hydroelectric power station in either Siberia or the Far East, Ria Novosti reported.

Alexander Abramov, director of the Far Eastern Center for Economic Development, supports the idea of building mining farms in his region, the publication noted. He described Vladivostok as a city where a serious part of the business is concentrated in the service sector, including trade, logistics, and real estate. “These services can move into the field of blockchain technologies,” he noted, citing that many countries in North-East Asia are actively using cryptocurrencies and blockchain technology. “We need to be in the trend if we want to work with big economies,” he concluded.

Do you think Russky Island or Vladivostok is a good location for mining farms? Do you think more international miners will set up operations there? Let us know in the comments section below.




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Bloomberg interview has revealed Old Mutual Gold & Silver Fund has set aside roughly 11 million USD from its holdings since spring of this year to purchase the world’s most popular cryptocurrency, bitcoin. It’s another feather in the decentralized currency’s cap, even as debate rages as to whether it will ever supplant gold’s tradition of being a hedge against tough economic times.  

Bitcoin Paving Way for Reintroduction of Gold as Global Money
Ranjeetha Pakiam reports: “The Old Mutual Gold & Silver Fund, which manages $220 million of mostly precious metal equities, is jumping on the bitcoin wagon.”

Fund manager Ned Naylor-Leyland explained to Ms. Pakiam how they’ve been gobbling up bitcoin since April “with a mandate to allocate as much as 5 percent to cryptocurrencies,” Ms. Pakiam writes.

Flippening? Quarter Billion Dollar Gold Fund is Buying Bitcoin
 

A response back in 2015 from the fund manager, to an individual who viewed bitcoin as too volatile.
“Bitcoin is paving the way for the reintroduction of gold as global money,” Mr. Naylor-Leyland surmised. Rather than viewing bitcoin as a threat to the precious metal, he instead views it as a way to educate investors. “Bitcoin was explicitly designed to be digital gold. So if you’re going to have a small proportion of a fund in bitcoin, it should be in a gold fund, because that’s exactly the point.”

It’s a curious end-run toward a broader goal, but no one would blame the fund. Bitcoin is up hundreds of percent this year. And since the fund’s reported buying spree in April, the digital currency has risen from just over 1,000 USD to the current floor of above 8,000 USD.
The historic metal has thudded along comparatively during the same interval, up $40 as of this writing.

Bitcoin a Way to Sound Money
“Bitcoin and blockchain resolve” divisibility problems, Ms. Pakiam writes of the fund manager’s thoughts, “[problems of] ownership and speed of transmission.”
“We’re going to revert to sound money,” Mr. Naylor-Leyland is quoted. “If you imagine sound money and blockchain together, there’s quite an exciting potential outcome.”

Flippening? Quarter Billion Dollar Gold Fund is Buying Bitcoin
 
It’s a novel approach to bitcoin, for sure. Crypto maximalists suggest it’s simply a matter of time before the digital currency overtakes gold’s position. And as well as bitcoin has done in less than a decade, the precious metal has a four millennia headstart.

Something on the order of over 5 billion ounces presently exit, and with an ounce trading above 1,200 USD, that pegs it at a 7 trillion USD market cap, close to 100 fold better than present bitcoin valuations.

Still, the better bet seems to be understanding a larger point: the metal’s limitations were the inspiration behind bitcoin’s creation in terms of scarcity, mining, and utility. They’re not mutually exclusive though: both are preferable to the whims of government fiat, sound money advocates urge.

What do you think of gold funds buying bitcoin? Tell us in the comments below!





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In an attempt to lift market sentiment, China has dumped cash totaling over 810 bln Chinese yuan - about $130 bln - into its economy over five days. This is a move to solidify the economy of the country and boost the nation's supply, but they may have just helped their biggest enemy.

The Chinese government, since its shock ban on Bitcoin exchanges and ICOs, has been concerned with trying to keep capital in the country and thus seen it prudent to quash Bitcoin and other cryptocurrencies.

However, the cryptomarket in the Asian country has found ways to stave off the killing blow from regulators, and this most recent move could actually benefit the hungry Bitcoin investors still prevalent in China.

Trickle-down effect
The extra liquidity came about thanks to repurchase deals. This sees the Central Bank buying securities from commercial banks as they agree to sell them again in the future. This capital is now floating around, quite liquid, in the economy, and there is no doubting it will join the Bitcoin revenue stream.

Nomura analysts said in a note, adding that the market is pricing in maintenance of a prudent monetary policy stance:
"We read this as a sign that financial deleveraging will be a multi-year theme and that deepening financial reforms are underway."
Because Bitcoin continues to live in China, behind a black market-style wall, there is still a demand as the public find new and innovative ways to secure cryptocurrency.

Thus, it seems that China may well be shooting themselves in the foot with this latest move as it will no doubt have a trickle-down effect, leaving more capital to flow into cryptocurrency. From there, the extra liquidity could very easily siphon out of the country, unregulated and against the wishes of the regulators.

Bitcoin lives on
Cryptocurrencies may be banned and thus off the mainstream, but it does not mean they have died in the socialist republic. There have been other ways of trading and working with cryptocurrencies.

The cutting off of the head of the Bitcoin exchanges has only bolstered its body. LocalBitcoins have seen steady growth since the ban and are allowing for the market to live on, although in a different manner.

However, there has been some dulling of the once overactive Chinese market as a lot of the business that once occupied OKEx and Huobi has moved off the mainland.




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Bitcoin and various altcoins have endured turbulent times in Russia as the government continually changes its stance on cryptocurrencies.

Last month, Russia announced that it would be issuing its very own cryptocurrency which would be regulated by its very own authorities. ‘Cryptoruble’ cannot be mined, but people would be able to trade the virtual currency with Russian Rubles.

A little over three weeks later, Russia’s communications minister Nikolay Nikiforov reiterated that Bitcoin trade would never be legalized in the country.

Russian statements
Despite all of this, there still seems to be a healthy appetite for Bitcoin and cryptocurrency in the country, with bank and financial institution heads making interesting statements on the subject.
German Gref, who is the head of Russian state bank Sberbank, believes that the acceptance of Bitcoin and cryptocurrencies by the masses cannot be ignored:
“Virtual currencies are a natural outcome of Blockchain technology. We may ban them; we may welcome them. It is trendy to urge people not to play with them. But they are a fact of our life.”
While the man on the street openly buys and sells Bitcoin, Ethereum and other altcoins, most financial institutions and governments remain wary of virtual currencies.
However, Gref believes that apathy is slowly changing.
“Protectionism is just the first reaction of the state. However, both the institution of private money and the states, which will dare to change the way currency is issued, will eventually find a place for cryptocurrencies in the economy.”
Cryptoruble proves a point
The fact that the Russian government intends to issue its very own virtual currency proves that global institutions are more than aware of the applications of Blockchain technology.

The Russian government will also tax profits made on the sale of Cryptorubles. Herein lies the rub.
Cryptocurrencies cut out governments and banks and that is one of the biggest reasons why authorities are so opposed to virtual currencies.

It’s incredibly difficult to tax and make profit off cryptocurrencies, and that is the biggest hurdle standing in the way of legalizing virtual currencies in various countries.
Secret symbol № 3: L




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