The Bitcoin Price Just Inched Up to Set Another All-Time High
The average price of bitcoin across global exchanges today reached $3,550 on the CoinDesk Bitcoin Price Index, setting yet another new all-time high.
The uptick coincides with a palpable improvement in public sentiment about the world's first cryptographic asset, with bitcoin recently receiving positive mentions from leading asset managers and gaining increasing exposure in western media.
At press time, bitcoin was trading at $3,550, a figure that has appreciated nearly 50% over the last month of trading. Data from the CoinDesk BPI indicates the price of bitcoin was just $2,423 on June 12.
Yet, the strongest growth has been seen in the last week, following a fork of the bitcoin blockchain that resulted in the creation of a new cryptocurrency, bitcoin cash.
Full story at http://bit.ly/2hTdQXf
Source: CoinDesk
Institutional Investors Can No Longer Ignore Bitcoin: Goldman Sachs
Earlier this week, Goldman Sachs, the $90 bln investment banking firm, told its investors and clients that it is becoming more difficult for institutional investors to ignore Bitcoin and the cryptocurrency market.
In a letter to its investors, clients and portfolio managers, JP Morgan analyst Robert D. Boroujerdi wrote:
"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 nine have a market cap in excess of $1 bln.”
Full story at http://bit.ly/2uPncEr
Source: CoinTelegraph
$126 Billion: The Cryptocurrency Market Just Set a New All-Time High
The total value of all cryptocurrencies set a new all-time high today, rising above $126 billion for the first time in history, according to data from CoinMarketCap.
The new benchmark was set at 8:00 UTC and comes just four days after the crypto asset class set a previous record above $116 billion.
Full story at http://bit.ly/2hTezrh
Source: CoinDesk
One Coin, Much Scam: Italy Brands OneCoin Ponzi, Issues 2.5 Mln Euro Fine
OneCoin, after garnering a lot of support in the early days of cryptocurrency, is still facing the music as Italy becomes one of the first countries to take a hardline stance against the company, demanding a €2.5 mln fine.
The Italian Antitrust and Consumer Protection Authority (AGCM) has branded OneCoin a pyramid scheme, or ponzi scheme.
OneCoin has been under investigation from the AGCM since December last year, where it ordered local affiliates to stop promoting the so-called digital currency.
However, Italy is not the only country that has been protecting its citizens from the financial fraud that seemed to be brewing under OneCoin. Prosecutors in Germany opened up criminal investigations into the company and in Hungary the government also took steps to tackle the ponzi scheme.
Full story at http://bit.ly/2uPj3AC
Source: CoinTelegraph
Russian Miner Coin Wants To Challenge China for Bitcoin Mining Supremacy
Russian Miner Coin is creating a new digital asset and having a token sale. They are Russian Miner Coin To Challenge China for Bitcoin Mining Supremacypositioning to generate revenue for building a mining infrastructure in Russia. The initial coin offering (ICO) for these “RMC” tokens will provide holders with rights to 18% of the earnings generated by all mining equipment purchased with investment funds.
A Fortune magazine article elaborated, saying, “Russian Miner Coin is holding a so-called initial coin offering, where investors will use units of ethereum or bitcoin to buy new RMC tokens. These new tokens will have rights to 18 percent of the revenue earned with the company’s mining equipment, according to a presentation posted on its website.”
The Russians are going to use semiconductor chips, which were designed for satellites, to power the equipment and minimize costs. Putin’s internet ombudsman, Dmitry Marinichev, provided this information in a recent news conference. He suggested Russia has a lot of potential to grow in the field of cryptocurrency mining. He said,
Russia has the potential to reach up to 30 percent share in global cryptocurrency mining in the future.
Full story at http://bit.ly/2hRrmL3
Source: Bitcoin News
Bitcoin Steady in Face of World War Three
Recent tension between the US and North Korea has played its part on the global market, rattling some of the major asset classes. However, not being pegged, or controlled by any centralized force, Bitcoin was totally unaffected by the news.
Overnight US stocks took a big tumble, leaving their calm waters and falling by one percent. Stocks in the UK and Europe were also down by more than one percent.
The very nature of Bitcoin and part of its appeal is that it does not feel volatility spikes caused by real world tension and worry. Building tension between nuclear superpowers spooks many assets and stocks but has had little effect on Bitcoin as its value actually rose slightly while traditional markets fell.
While the tension drove stocks down a percent, a large move for such steady assets, Bitcoin was trading around its new record high of $3,400.
Full story at http://bit.ly/2hQyMOz
Source: CoinTelegraph
No comments:
Post a Comment