• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Win 1 BTC
Breaking News: This Bankrupt Crypto Firm Returns 27,000 Mining Rigs To Pay Off Loan
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Win 1 BTC
Bitcoinist.com
No Result
View All Result
Breaking News: This Bankrupt Crypto Firm Returns 27,000 Mining Rigs To Pay Off Loan
Bitcoin market turns bullish
Advertisement

Bitcoin and World Financial Markets Close Another Spectacular Week

Julio Gil-Pulgar by Julio Gil-Pulgar
5 years ago
in Markets and Prices, Bitcoin, Bitcoin Investment, Bitcoin Price, FinTech, Technology
0
Advertisement

Bitcoin’s price sustained its spectacular momentum by remaining within its all-time high range during the week ending October 27, 2017. At the same time, the Dow Jones rose for the seventh straight week, fueled by technology stocks. Among these stocks, Nvidia, a Bitcoin and Ethereum mining device maker, was the strongest.


Bitcoin Remains the Best Performing Currency

Bitcoin remains the best performer and the unchallenged leader among fiat and other digital currencies by staying within its all-time high price range. For the previous two consecutive weeks, Bitcoin’s price had been breaking all record highs.

Don't wait! Jump on this Crypto Deal and get a 150% Welcome Bonus plus 100 Free Spins on your deposit today!

Bitcoin started the week of October 23, 201, by reaching a value of $6,075 USD per coin, during intraday trading. On the same day, Bitcoin’s blockchain was split, creating a new cryptocurrency, Bitcoin Gold.

During the early hours of the new cryptocurrency, and for several hours, hackers crippled the Bitcoin Gold’s cloud site with a distributed denial of service (DDoS) attacks. As a result, Bitcoin Gold’s price descended as low as $127.79 USD. Similarly, Bitcoin hit a low of $5,403 USD.

Massive DDoS attack on our cloud site. 10M requests per minute. We are working with the providers to ban all the IPs. We will be up soon!

— Bitcoin Gold [BTG] (@bitcoingold) October 24, 2017

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!

 

However, showing its usual resiliency, Bitcoin rapidly recovered, closing the week ending October 27, 2017 above $5,800 USD. Bitcoin Gold, on the other hand, closed the week at $119.58 USD.

Dow Jones, NASDAQ, and Bitcoin’s Amazing Upward Trend

Dow Jones, NASDAQ, and Bitcoin’s Amazing Upward Trend

Certainly, Bitcoin is not the only financial asset about which investors are bullish. Indeed, the upbeat sentiment vis-a-vis financial markets also prevails intact, as the stunning data reveals for the week ending October 27, 2017.

For example, the NASDAQ 100 surged the most since the year 2009, closing at a new record high of 6,213.47 points. Meanwhile, the Dow Jones Index advanced 33.33 points, ending the session at 23,434.19.

Most financial experts agree that the technology sector earnings are fueling the extraordinary surge in the market.

And, the technology company that rose the most was Bitcoin-friendly Nvidia. In effect, Nvidia broke an all-time record again, closing at $201.86 USD per share on Friday, October 27.

Nvidia manufactures graphics processing units (GPUs) designed explicitly for cryptocurrency mining. Nvidia’s sales had soared in the second quarter, due to Bitcoin miners’ high demand for GPUs. In this connection, Fortune published an article entitled Wall Street Fears Nvidia Is Too Dependent on Bitcoin.

Nvidia is also heavily involved in manufacturing devices for driverless cars, artificial intelligence, and other Fourth Industrial Revolution technologies. Recently, Nvidia announced the introduction a new cloud-based GPU platform (GPUC) “to combine deep learning software with world’s fastest GPUs.”

For three weeks in a row, the value of both the stock markets and Bitcoin has soared. This is amazing news. However, as always, cryptocurrency enthusiasts and investors need to take precautions before investing.

Do you think there is a relationship among Bitcoin, technology companies, and the recent record high surge in the stock markets? Let us know what you think in the comments below.


Images courtesy of Shutterstock and Pixabay

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.

Julio Gil-Pulgar

Julio Gil-Pulgar

Julio has worked for Fortune 100 companies and the United Nations. He has led projects involving IT, operational, and compliance audits, in the U.S. and throughout the world. His expertise is in cryptocurrencies, IT engineering, risk management, and security. Julio is also a tango dance enthusiast.

Related Posts

New record: 49% of Bitcoin Supply Has Not Changed Hands in 2 Years

New Record: Half Of Bitcoin Supply Hasn’t Changed Hands In 2 Years

18 hours ago
Bitcoin Derivatives Markets Volumes Show Bullish Trend After 2022 Downturn

Bitcoin Derivatives Market Volumes Show Bullish Trend After 2022 Downturn

2 days ago
Bitcoin

Sri Lanka Central Bank Says Bitcoin Cannot Solve Economic Crisis

2 days ago
tulip mania bitcoin

Celebrating The Tulip Mania Anniversary With Bitcoin & Crypto

3 days ago
Bitcoin Long-Term Holders Now Hold 78% Of Supply, Highest Level Ever

Bitcoin Long-Term Holders Now Hold 78% Of Supply, Highest Level Ever

3 days ago
Bitcoin

Why Bitcoin Is Among ‘Hottest Subjects’ On Earth, According To ‘Rich Dad’ R. Kiyosaki

3 days ago
Please login to join discussion

Premium Partners

Premium Casino Partners

Top Casinos

BitStarz
BitStarz
Punt Casino
Punt Casino
mBit
mBit
Metaspins
Metaspins
1xBit
1xBit
Coinplay
Coinplay
K8
K8
Vegas Casino
Vegas Casino

Sportbooks

Coinplay
Coinplay

Press Releases

  • Drama As Polygon, Solana Continue Struggle For Top-10; Big...

    6 mins ago
  • Who Will Dethrone Ethereum, Solana or Fantom? Big Eyes Coin...

    13 hours ago
  • Twitter Users Roast Mark Wahlberg’s Documentary On FTX...

    14 hours ago
  • Crypto Is Here to Stay. Here’s Why You Should Invest...

    22 hours ago
  • Dogecoin (DOGE) and Shiba Inu (SHIB) Bounce While Snowfall...

    22 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2023 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Win 1 BTC

© 2022 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.