Reflecting investors’ optimism, Bitcoin and world financial markets are setting record highs almost in sync. On October 13, 2017, Bitcoin hit an all-time high value, breaking through the $5,800 USD mark. On the same date, global stock market indexes showed a significant surge, stretching to record highs. Bitcoin and Stock Markets’ Spectacular Bullish Momentum Bitcoin’s market value, the total dollar value of all bitcoins in circulation, is becoming substantial as it hits $96.7 billion USD.
Bitcoin’s orbital trajectory hit a high of $5800 this week, giving the coin a market cap valuation close to $97 billion, listing the digital currency ahead of companies such as Goldman Sachs, Nike, and Bayer. Bitcoin’s rise continued apace yesterday, breaking through the $5,000 mark before going on to hit an all-time high of $5,800. The resulting weekly chart is pictured below showing the tallest weekly green candle growth in the coin’s history. The unprecedented
Bitcoin entrepreneur and investor Trace Mayer believes Bitcoin will hit $27,395 by next February according to his own analysis using a 200 Day Moving Average. Let’s be clear – there is absolutely no shortage of Bitcoin price predictions floating around the internet. A quick Google search these days yields no shortage of financial experts utilizing fundamental analysis, technical analysis, and Bayesian regression techniques to produce forecasts as far-ranging as the methods they employ. And let’s not
In A CNBC Fast Money interview, Michael Novogratz of Galaxy Investment Partners predicted that Bitcoin’s price is likely to be over $10,000 in six to 10 months. Just how high could #bitcoin go? Hedge fund legend @novogratz says $BTC will soar to over $10K in the next 6 to 10 months pic.twitter.com/b3ZKS1hXau — CNBC's Fast Money (@CNBCFastMoney) October 10, 2017 Former Fortress Investment Group manager Michael Novogratz agrees that Bitcoin shows signs of being in a
Nvidia’s participation in the cryptocurrency industry is paying big dividends. In effect, fueled by Bitcoin’s impressive surge, Nvidia stock price continues to soar. Bitcoin and Other Cryptocurrencies Are Here to Stay On October 10, 2017, Nvidia’s stock value reached an all-time high: $192.92 USD per share. In parallel, Bitcoin’s value soared to $4,800 USD per coin. This bullish drive demonstrates that Nvidia continues to profit from producing devices used in cryptocurrency mining, artificial intelligence, driverless
Bitcoin’s supremacy is strengthening in the cryptocurrency market, as its resiliency continues to impress experts and Wall Street’s top executives. The financial markets are clearly reflecting this sentiment as Bitcoin’s value now surpasses the US$ 4,300 mark. Bitcoin Leads the Cryptocurrency Market Bitcoin maintains its preeminence not only among fiat currencies but also among the other cryptocurrencies. According to a recent CNBC article, “Bitcoin was the top performing cryptocurrency in the last three months, despite the mega-rally
After China and Korea banned ICOs experts believe that Japan will become the leader of Bitcoin markets. Tough Month For Bitcoin September has been a very tough month for the decentralized cryptocurrency. Firstly, Chinese regulators imposed a strict ban on all Initial Coin Offerings and ordered several cryptocurrency exchanges to shut down their operations. The regulations by the Chinese authorities caused a lot of turmoil in the cryptocurrency markets worldwide. Shortly after Chinese authorities imposed
Cryptolocator, a global marketplace for Ethereum trading, has announced the launch of its trading platform in mid-October of this year. The Cryptolocator platform brings together trading partners from around the world and facilitates transactions with popular cryptocurrencies. Unlike most trading platforms that focus on Bitcoin, Cryptolocator prioritizes Ethereum, setting ETH as its default cryptocurrency. First users of Cryptolocator will be able to trade with significantly lower fees for the first 6 months after the project
Bitcoinist spoke with Viktor Shpakovsky and Vladimir Smerkis, the founders of The Token Fund, which allows investors an easy portal into the world of cryptocurrency trading, investment, and management. Bitcoinist: Tell us about The Token Fund in your own words. What makes The Token Fund similar to other funds and in what ways is it unique? Vladimir: We launched The Token Fund in March 2017. Over the past five months, the portfolio under our management
The company Blockswater has filed a complaint against JP Morgan CEO Jamie Dimon saying he violated Article 12 of the European Union’s Market Abuse Regulation (MAR) by declaring that Bitcoin was “a fraud”. Blockswater claims that Dimon violated Article 12 of the European Union’s Market Abuse Regulation when he declared that Bitcoin was “a fraud”. Dimon’s comments on Bitcoin preceded a 24 percent drop in Bitcoins price. In an interview with City AM, Blockswater managing partner
A researcher at the Central University of Finance and Economics suggests that the Chinese government should start its own cryptocurrency. The Current State of Bitcoin in China In the last couple of days, there have been a lot of rumors flying around about the future of Bitcoin and other cryptocurrencies in China. Currently, Chinese regulators have forced prominent cryptocurrency exchanges like BTCChina and Huobi to shut down their operations by the end of the month.
Major Chinese exchanges BTCChina and ViaBTC have announced they will shut down operations causing Bitcoin price to plunge as OKCoin and Huobi are expected to follow. ICO Crackdown The recent days have been very interesting for cryptocurrency traders worldwide. On September 4, news emerged that Chinese regulators banned all Initial Coin Offerings that are based in China. The report from the People’s Bank of China stated that no individual or organization may longer raise funds through
Earlier this week CEO of JP Morgan, Jamie Dimon, called Bitcoin a “fraud”. Ex-JP Morgan executive, Alex Gurevich, advised the current CEO to “STFU about Bitcoin”. Bitcoin a Fraud? In a recent conference in New York the current CEO of the banking firm JP Morgan, Jamie Dimon, called the cryptocurrency Bitcoin a “fraud”. According to Dimon: [Bitcoin is] only fit for use by drug dealers, murderers and people living in places such as North Korea.
After previously slamming Bitcoin and other digital currencies as “not real”, “fad”, and “a pyramid scheme”, billionaire traditional investor Howard Marks made a spectacular U-turn on his views on the new financial technology in his latest memo to Oaktree Clients.
Russia’s Finance Minister announced the government’s goal of legalizing and regulating the circulation of cryptocurrencies. Unlike China, Russia will not outright ban ICOs as it plans to take full advantage of this new financial technology. Although a segment within the Russian administration has not given its backing to cryptocurrencies, most of the evidence and recent developments in the country point towards a push from Kremlin to become the world’s most powerful country on the back of its early adoption of artificial intelligence.
Cindicator has announced their upcoming ICO to raise the funds needed to build a next generation asset manager that not only uses new technology, but also traditional market analysis. Market Predictions The old saying goes that no one knows what will happen to a market tomorrow. The difficulty that comes with correctly predicting market trends is astronomical, and it takes highly intelligent people who’ve been studying industries for years to gain the confidence of investors. In
In a recent interview, Nobel-prize winning economist, Robert Schiller, described bitcoin as the best current example of a bubble. However, the man who literally wrote the book on “Irrational Exuberance” also admitted that he hadn’t heard of ICOs. Lovely Bubbly Schiller has been calling out bitcoin as a bubble for a long time now, describing it as “an amazing example” back in January 2014. And he has form, having predicted the housing bubble back in 2003, years before it
A new and emerging cryptocurrency called LindaCoin is trying to take on the famous and tongue-n-cheek Dogecoin. Lindacoin Takes on Dogecoin A new cryptocurrency has emerged which is trying to take on Dogecoin. Lindacoin is a new exciting cryptocurrency that is based on the prominent Scrypt algorithm. With its new unique features, the coin is trying to compete with the world-famous cryptocurrency Dogecoin. LindaCoin is using a hybrid combination of Proof of Work(PoW) and Proof
After hovering around $300 for weeks after its initial fork, Bitcoin Cash (BCH) skyrocketed to triple its value over the last two days. On August 1, the Bitcoin blockchain forked to little fanfare. Although the new Bitcoin Cash (BCH) token quickly spiked to around $1000 in its opening hours, it soon after tumbled into a stagnant holding level around $300. In the meantime, Bitcoin surged past $4000 and posted all-time highs on a nearly daily
The total Bitcoin market cap has surpassed the $70 billion mark, putting the digital currency on par with several S&P500 companies including PayPal and Netflix. Bitcoin Performance In the last couple of months, the Bitcoin price has steadily risen to new levels. On August 17, 2017, the Bitcoin price reached its all-time high of $4,483! The new Bitcoin all-time high was even predicted back in July 2017 by a Goldman Sachs analyst. Many analysts believe that
On August 15, 2017, the blockchain-based AdEx announced its partnership with China’s first open source blockchain, NEO (formerly AntShares). Since the announcement, values of the ad network’s native token, ADX, have more than quadrupled. A Tale of Two Blockchains Last week the ad network publicly released its AdEx Core, the base smart contract that will power the advertising network, on GitHub. Originally built on the Ethereum blockchain, AdEx Core will be ported over to the
Another day, another dollar, another All Time High in both price and market cap. It’s all starting to get a little bit… meh. Well, as “meh” as it can get, knowing that our magical imaginary money is suddenly worth even more. I could write yet another article, quoting a few figures, then padded out with a bunch of conjecture as to what happens next. But instead, I’m going to put on my big dreamer’s hat, and
Having boldly called Bitcoin to reach $5,000 per coin by the end of the year, renowned stock picker and founder of Standpoint Research Ronnie Moas has had to re-evaluate his prediction as the digital currency hurtles towards that figure halfway through August. In the wake of Bitcoin’s record-breaking rise in value during the first half of this year, Moas has had to re-evaluate his prediction and has raised his target to $7,500 as the likely price