Bitcoin Spot Price Lobbied for $ 3,000 as Stumbles Wider Market

Bitcoin Spot Price Lobbied for $ 3,000 as Stumbles Wider Market

The bitcoin spot price broke the $ 3,000 mark in the face of the market downturn.

Bitcoin Spot Price Running at $ 3,000

Like the older brother he inherited in early August, Bitcoin Cash saw its market share fall in early 2018.

After entering January control about seven percent of the market capitalization of cryptocurrency, Bitcoin cash saw its share drop by one-tenth to 6.3 percent other altcoins - most notably Ethereum - hit record highs.

This week, however, Bitcoin the money embarked on a rally of its own in order to jump over the $ 3,000 barrier after the sinking below last week. There was no clear trigger for the race, although the piece probably benefited from a report that the BitClub Network mining pool - a small pool that currently accounts for about 2.5% of bitcoin hashrate - would start broadcasting. payments in the form of BCH while continuing Chain BTC.

Nevertheless, the fourth-largest cryptocurrency has almost reached its target, rising from a low of $ 2,280 to a high of $ 2,988 on Jan. 10 - an intraday rise of 31%.

Unfortunately for investors, the rally hit a wall, in part because of conflicting reports that South Korea was planning to continue a general ban on cryptocurrency trading. While the president's office, ultimately, issued a statement denying that the ban was a finalized decision, the initial report has the wind of Bitcoin cash veils, as Korea represents one of the biggest coin markets.

Currently, the Seoul-based BCH / KRW pair from Bithumb is the second largest market for Bitcoin Cash, as well as its highest volume fiat trading pair.

As a result, it is not surprising that the spot price of bitcoins fell by $ 2,330 before starting a cautious recovery with the rest of the cryptocurrency markets.

At the time of writing, the Bitcoin spot price was trading at $ 2633 on Bitfinex, which represents a minor drop of 24 hours, but a 15 percent increase from its low Wednesday. The market capitalization of Bitcoin Cash is currently $ 44.5 billion, which puts $ 34.6 billion behind the third wave.

Article Source: https://steemit.com/bitcoin/@ultraspace/bitcoin-spot-price-lobbied-for-usd-3-000-as-stumbles-wider-market

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Original article and pictures take waysmakemoneyfree.blogspot.com site

Bitcoin Scratch Magnet

Bitcoin Scratch Magnet

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Bring some hope in your life with the help of this bitcoin scratch magnet. Let the people know that it can change their lives too as it had been changing lives of many other people.

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Order our original water-resistant metal magnets. Wipe clean with a damp cloth.

Original article and pictures take cdn.shopify.com site

Bitcoin returns to record historical maximum despite its risk

Bitcoin returns to record historical maximum despite its risk

The Bitcoin, about to reach $ 10,000

The cryptocurrency continues its sweet moment although it does not manage to get rid of its speculative stigma.

The Bitcoin has returned to register historical figures when arriving at the 17.900 dollars of quotation during the day of Friday.

The digital currency registered a new rise and accumulated an improvement close to 20 percent compared to the price that marked last Monday , and almost 80 percent if we analyze the data from what we have been in December.

Of course, the good performance of the cryptocurrency in the markets of sale has not managed to calm the critics of its detractors, who consider that it is a volatile product that has become a nest of speculators .

A study of the Anglia Ruskin University, the Trinity College of Dublin and the Dublin City University has been known, in which its authors warn that the Bitcoin can be a threat to the financial stability of the currencies and the markets .

In that sense, they add that their research showed that the price of Bitcoin has been artificially inflated by speculative investors, and is currently in a bubble.

Original article and pictures take digitalbodha.com site

Bitcoin Regains Over 60% Crypto Market Dominance For First Time in 7 Months

Bitcoin Regains Over 60% Crypto Market Dominance For First Time in 7 Months

As of this writing, bitcoin has a market dominance of 62.7% – representing more than 60% of the entire cryptocurrency markets for the first time since April 2017.

Also Read: Markets Update: Cryptocurrency Market Cap Now Commands $200 Billion

Bitcoin Continues to Reclaim Market Dominance

Bitcoin’s current total market capitalization is more than $126.5 billion USD – currently comprising approximately 62.7% of the $202 billion USD cryptocurrency markets.

At the beginning of 2017 bitcoin had a market dominance of approximately 87% percent, as bitcoin confidently ramped up to test the $1000 USD area for the first time since December 2013. Starting in March, many altcoin markets started to rally, with many leading altcoins making gains of over 1000% in a matter of just weeks. The ensuing altcoin bubble quickly gave birth to an initial coin offering bubble as well – both of which eroded bitcoin’s market dominance, which reached a historic low of just under 40% in June. Bitcoin quickly bounced back to hover around the 50% dominance area from mid-July until October. During October bitcoin’s market dominance steadily rose from 50% to 60%.

Ethereum Comprises the Second Largest Cryptocurrency Market, Accounting 14% of the Total Market Capitalization

Following Ethereum’s first major rally in 2016, ETH fell from holding approximately 10% market dominance, down to less than 4% at the start of 2017. During the altcoin bubble, Ethereum sharply increased its market share, reaching a peak of approximately 30% during June. Since June, Ethereum’s market dominance has steadily fallen.

The third largest cryptocurrency is Bitcoin Cash, which comprises 4.9% of the total market cap of all cryptocurrencies – down from a top of 8.06% on the 20th of August. The fourth largest market is Ripple – accounting for 3.84% of all crypto markets. Fifth is Litecoin – with 1.45%, followed by Dash – 1.03%, Neo – 0.84%, Nem – 0.75%, and Monero – 0.66%. According to the data available on Coinmarketcap, the remaining 1251 cryptocurrency markets combined account for 9.26% of the total crypto market cap.

At the end of October, bitcoin’s market cap broke above $100 billion USD for the first time ever.

Do you think that bitcoin will continue to regain its market dominance over altcoins? Share your predictions in the comments section below!

Images courtesy of Shutterstock, Coinmarketcap

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Original article and pictures take news.bitcoin.com site

Bitcoin prices drop on news South Korea still considering crackdown

Bitcoin prices drop on news South Korea still considering crackdown

Prices of bitcoin and other digital currencies have skidded after South Korea's top financial policymaker said Tuesday that a crackdown on trading of cryptocurrencies was still possible.

Finance Minister Kim Dong-yeon said in an interview with Seoul radio station TBS that banning trading in digital currencies was "a live option." He said the decision was subject to a thorough government review.

"There are no disagreements over regulating speculation," such as using real-name accounts and levying taxes on cryptocurrency trading, Kim said. Shutting down digital currency exchanges is "a live option, but government ministries need to very seriously review it," he said.

Bitcoin was trading at $12,615.60 US, down 7.1 per cent from the day before as of 8:03 a.m. GMT, according to Coindesk. The price of ethereum, another digital currency, had slipped 7.8 per cent to $1,190.45 as of 8:04 a.m. GMT.

South Korean officials' remarks have swayed the global markets for bitcoin and other cryptocurrencies in the past few weeks. The country has seen a huge bitcoin craze, with young and old betting on the cryptocurrency to build wealth. The high demand from South Korean investors has created what investors call a "kimchi premium," the extra price the South Koreans have to pay to buy digital currencies, sold in South Korea at higher than the average global prices.

Last week, the justice minister's remark that the country will ban bitcoin and other digital currencies triggered big sell-offs and a public outcry. The presidential office then said that no final decision had been made.

An online petition on the presidential office's website has drawn more than 210,000 requests from people asking the government not to ban trading in digital currencies.

"We the citizens were able to have a happy dream that we had never had in South Korea thanks to cryptocurrency," the petition reads. "You may think you are protecting the public but we citizens think that the government is stealing our dream."

Original article and pictures take www.canada24news.com site

Bitcoin price levels down after setbacks to respond to regulations

Bitcoin price levels down after setbacks to respond to regulations

January 15, 2018

Bitcoin prices are not as shaky as they were during the last three months of last year, swinging between a minimum of $13,000 and maximum of $17,000 levels.

Bitcoin started the year at the $13,000 level and the highest it hit this year was a $17,000 level on January 5. It hasn’t yet dropped below the $13,000 level this year.

Many people will regard that as a poor performance because they are using to regular short spikes. And last month December 17, the cryptocurrency broke the $20,000 mark. But there have been some setbacks it had and has to deal with until now to rise further.

China’s ban on ICO and continued crackdown on the industry including shutting crypto exchanges did not have any impact. Even if the country held two thirds of crypto trades before the crackdown. However, Bitcoin came into 2018 with regulatory pressures out of U.S.A. and other regimes such as India.

For instance, China holds majority of Bitcoin mining power but the continued crackdown on cryptocurrencies. Thus it is causing some companies to consider a move to other countries. An example is the recent announcement by ZQMiner and Bitmain Technologies. However, which operates some of the largest mining farms in China.

Many miners in the country have been taking advantage of the cheap and often subsidized power. Though the country wants to make this power more expensive, cutting into the profit margins.

Also Read: Hancock hospital computer system hacked, attackers asks Bitcoin ransom

A recent announcement by South Korea Ministry of Justice that the country was planning to ban crypto trading. Later on it was reverse because it was done without the consent of the Ministry of Strategy and Justice and government agencies involving in regulating cryptocurrencies.

“The South Korean government has no other choice but to follow the regulatory frameworks and trends established by other leading governments. While there certainly exists a negative reputation attached to the cryptocurrencies. The government’s stance is to allow what has to be, for the benefit of the South Korean market.”

The news however had some impacts on the markets.

US Treasury has also in the recent past made more announcements about its intention to regulate cryptocurrencies. Treasury Steven Mnuchin said Friday last week that the treasury will work with Group of 20 nations to prevent Bitcoin from being in use “to do bad things.”

He said they will form a group that will ensure Bitcoin wallets do not become the Swiss numbered bank account (equivalent to a borderless Swiss bank account).

David Kariuki is a journalist who has a wide range of experience reporting about modern technology solutions including cryptocurrencies. A graduate of Kenya's Moi University, he also writes for Hypergrid Business, Cryptomorrow, and Cleanleap, and has previously worked for Resources Quarterly and Construction Review magazines.

Original article and pictures take coinpedia.org site

Bitcoin opens in Chicago futures market

Bitcoin opens in Chicago futures market

New milestone in the fast evolution process of bitcoin , which has accelerated in the last year. The cryptocurrency has begun trading on the futures market in Chicago this Sunday, and with the same success that accompanies the digital currency in its latest operations.

According to the data of the operator, Cboe Global Markets, the opening occurred at 5 o’clock local time. The starting price of the cryptocurrency, which operated under the symbol XBT, had been set at $ 15,000. The first information was two and a quarter hours later, when 890 contracts had been closed .

The price of the cryptocurrency has reflected the start of operations in the futures market. According to the data of the portal specialized in these Coindesk currencies , at the time of opening its value stood at $ 15,070. In about two and a half hours it had increased by more than 1,000 dollars, reaching more than $ 16,700 at dawn, local time in Chicago, early in the morning in Spain. At this time moves in the vicinity of $ 16,500.

The operator of the market, Cboe, experienced problems on its website in the first hours, due to the high interest in digital currency.

Due to heavy traffic on our website, visitors to https://t.co/jb3O722hoo may find that it is performing slower than usual and may at times be temporarily unavailable. All trading systems are operating normally.

— Cboe (@CBOE) December 10, 2017

Original article and pictures take digitalbodha.com site