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On December 7, at 9 am EDT the price of bitcoin broke a new record as one BTC is now worth US$ 15,000 across global exchanges. Bitcoin trade volume has been exponential with over $ 14.7Bn BTC being swapped on trading platforms worldwide.
Bitcoin Reaches $ 15,000 Commanding a $ 250Bn Market Cap
The price of bitcoin has been on a tear over the past week and even more so during the past three days. In the last 72-hours, the price has moved over $ 3,000 in gains, and markets are showing feverish buy support. On December 6 when the price tackled $ 13K and then $ 14K, a large portion of volume stemmed from South Korean exchanges, most notably Bithumb. The KRW volume has dropped a touch, and the EUR has gained some significant steam. However, the Japanese yen still dominates bitcoin’s global markets at 47 percent. The top exchange today trading the most BTC is Bitfinex, as Bithumb has settled back into the second position. Following the Korean exchange is GDAX, Bitflyer, and Coinone. On Bitstamp, one bitcoin is roughly around $ 15,200 at the time of writing.
Looking at charts show the price has been extremely volatile with large swings over the course of the past 24-hours. The two Simple Moving Averages (SMA) still have a nice gap, but the 100 SMA and 200 SMA look as though they are getting closer. This indicates some sell-off may happen soon. Order books show massive resistance beginning at $ 15,300 all the way to $ 15,700. If bulls persist in breaking these zones, then the price could go upward even more at warp speed. Again since our last price report, charts indicate that buy walls are much thinner than the sell wall side. Which means the price could slide downwards with ease, and not much resistance on the way down. At press time there’s a strong foundation around $ 13,400.
Bitcoin proponents are either super happy or extremely skeptical as a fast run up like this one is causing some concern for a deep correction. Some bitcoin proponents believe the time has “finally come” and bitcoin is cementing itself into history. Others believe the decentralized currency has passed through a phase of maturity and is searching for its “fair market price.” Then there’s those speaking the word “bubble” regularly, and they expect bitcoin and cryptocurrency markets, in general, to burst at the seams.
Then there are those who think institutional money is coming into bitcoin due to the upcoming futures markets coming shortly from Cboe, CME Group, and other firms that have expressed interest. Whatever is driving this demand is causing individuals to buy up bitcoin at the highest price it’s been all year. And $ 15K per bitcoin is quite the feat!
Where do you see the price of bitcoin heading from here? Let us know in the comments below.
Disclaimer: Bitcoin price articles and markets updates are intended for informational purposes only and should not to be considered as trading advice. Neither Bitcoin.com nor the author is responsible for any losses or gains, as the ultimate decision to conduct a trade is made by the reader. Always remember that only those in possession of the private keys are in control of the “money.”
Images courtesy of: Shutterstock, Bitstamp, Pixabay, and Crypto Compare.
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The post Bitcoin Price Reaches Another Peak Crossing $ 15,000 appeared first on Bitcoin News.
Recent public surveys in Korea, Japan, and the US reveal different levels of bitcoin awareness and adoption in the three top bitcoin markets. The country with the strongest awareness has the fewest bitcoin exchanges and least volume of the three.
90% Know of Bitcoin
Mobile phone survey specialist Dooit released the results of its “Perception and Prospects for Bitcoin” survey taken in South Korea this week, local publications reported. The survey was conducted between December 1 and 4, with 3018 participants aged 20 or older. The sampling error range was ± 1.78% percentage points, giving it a 95% confidence level, according to the company.
Regarding respondents’ familiarity with bitcoin, 44.1% of those surveyed said, “I have heard the name.” 35.1% said “I know [it]” and 10.8% answered, “I know [it] well.” Meanwhile, 10% replied, “I do not know [it] at all.” Altogether, the number of respondents who have heard of bitcoin amounts to 90%.
In terms of demographics, bitcoin is most popular among respondents in their 30s. 29.8% of this age group admitted to having purchased the digital currency. By comparison, 26.3% in their 40s, 22.4% in their 20s, and 23% in their 50s claim to have experience in purchasing bitcoin.
South Korea is one of the largest cryptocurrency markets. The Korean won is currently the third most traded currency for bitcoin, behind only Japan and the U.S. The country’s largest bitcoin exchange Bithumb currently has the highest bitcoin trading volume out of all exchanges worldwide.
Bitcoin trading volume in the country has fully surpassed that of Kosdaq, the Korean version of the Nasdaq stock exchange. This revelation has prompted the regulators in the country to hurry to regulate the crypto market. In addition, the country’s most popular chat app, Kakao Talk, has recently integrated a cryptocurrency exchange called Upbit with over 110 cryptocurrencies. Kakao Talk has over 200 million users and is installed on over 95% of smartphones in South Korea.
8% Know What a Blockchain Is
While most of the survey respondents know what bitcoin is, few of them have heard of blockchains. Only 8% claim to know both what a blockchain is and understand its relationship with bitcoin.
The majority of the respondents, 49.7%, admitted that “I do not know what it means at all” when asked about the term blockchain.
Some of them were able to make guesses regarding the technology. 18.5% think that both bitcoin and blockchains “are virtual currency” while 6.7% believe that a blockchain is “the product derived from bitcoin.” Lastly, 5.1% wrongfully guessed that an exchange trading bitcoin is a blockchain.
Reasons for Purchasing Bitcoin
Out of all respondents, 26.1% said that they have purchased bitcoin. This percentage corresponds to 787 people. Respondents who have not purchased it shared various reasons on the company’s website. “Bitcoin, it’s dangerous,” wrote one participant. Another participant shared:
It’s not dangerous, it’s just expensive, so I do not buy it.
Among those who have purchased, 5.8% said that they currently own bitcoin while 20.3% said that they do not.
Also within this group of respondents, 48.3% purchased bitcoin because they are simply curious about digital currencies. A further 23.3% said they purchased it for short-term profit while 15.6% indicated it was for long-term investment. Meanwhile, 12.8% of them purchased bitcoin at the recommendation of others.
Compared to Japan
Japan is currently the leader in the cryptocurrency market, with the Japanese yen occupying the largest bitcoin trading market share. The country also made bitcoin a legal method of payment for all goods and services back in April. Since then, bitcoin adoption and merchant adoption there have grown significantly. Recently, news.Bitcoin.com reported on a Japanese survey of 10,000 respondents. 88% of them know what bitcoin is but only 4.7% have purchased it.
Among Japanese bitcoin purchasers, 42% said they purchased because they were interested in digital currencies; the same percentage expect it to grow in the future. 33% bought bitcoin because they believe it to be profitable. 54% purchased it as a long-term investment and 42% as a short-term investment. See full survey results here.
Compared to the US
The U.S. dollar is currently the second largest bitcoin market behind the Japanese yen. On Monday, crypto PR firm Ditto published a cryptocurrency public knowledge report. The firm conducted a survey in the first week of November with 500 respondents over 18 across the U.S.
They found almost 70% of respondents are unfamiliar with cryptocurrencies and almost 90% do now know what an initial coin offering (ICO) is. The most informed segment is the millennials with 1 in 5 of them familiar with bitcoin.
What do you think of these surveys? Let us know in the comments section below.
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PR: Pre-Sale Launch: Smart Valley – a Decentralized ICO Platform for Projects, Experts, and InvestorsDecember 7, 2017 | dailybusinessnews
This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.
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Andreas Antonopoulos announced publicly he’d paid down his debt and could finally get to the business of fully participating in the monetary movement he helped cultivate. This, in turn, caused some to remind others about the prudence of getting-in early when it comes to crypto assets. Mr. Antonopoulos further clarified his plight, detailing how the opportunity costs of keeping his bitcoin would’ve placed his family at financial risk. Rather than do that, he sold it all to stay afloat back in 2013. What happens next is a testimony to the generosity of bitcoiners, and the love our community has for the Greek citizen of the internet, with his Eddie Munster hairlines.
Love for Our Own
Andreas Antonopoulos has gone through nearly all of the hundreds percentage bitcoin price increase without enjoying its spoils. Mr. Antonopoulos isn’t just some guy who missed out on the crypto gravy train. He’s arguably the most respected and influential personality in the decentralized currency world. That he, of all people, was toiling away to get above water in terms of personal finances came as a shock to many of his fans.
Faster than a bitcoin transaction confirmation, the pan-crypto community came to a sudden realization, albeit subconsciously: How did we let this happen?! Twitter raged. Reddit posse’d up. Mr. Antonopoulos’ bitcoin address (1andreas3batLhQa2FawWjeyjCqyBzypd) and Patreon account were flung to all reaches of cyberspace.
Inevitably, shrill and less-than nuanced voices attempted to turn love into a gross political statement, the kind of tribalism many feel at least exhaustion at if not outright contempt. One-upmanships were on full display. Those less inclined toward toddlerism sat back and became philosophical: Whatever. Make this about internal bitcoin politics if you wish. Just support Andreas Antonopoulos.
In Defense of Optimism
The man of the hour took to his Patreon account and wrote in homage to the community he loves in turn, titled In Defense of Optimism. To read it in its entirety, interested folk will have to unlock the content. And it would not be right to give too much away, as that is the point of the entire exercise (and this article). But it’s worth quoting at least a little.
He recounts responses from his Twitter exchanges: “Over the next several hours, tens, dozens, then hundreds of people responded. I sat reading the responses with tears in my eyes. An outpouring of positivity washed over me. People I have never met jumped to my defense, reminding me that they started their journey after watching my videos, or reading my books. Some people attacked the original criticism and its author (which I strongly discourage). But the vast majority focused on optimism,” he clarified.
“Today,” Mr. Antonopoulos continued, “I am even more focused on my goals: educate the next 10 million users. Train the next 10,000 developers. Do it all in every medium possible. Do it in more languages. Do it with more energy, with more passion. Do it with unrelenting optimism. In the end, my engine runs on hope, it runs on optimism. And today, it’s turbocharged.”
At press time, donations to Mr. Antonopoulos were nearing 700,000 USD, with at least one generous soul slapping down 37 bitcoin, or over 500,000 USD in one donation. Now that’s love. Here is the bitcoin address, if YOU also would like to donate a few satoshis to the great Bitcoin explainer.
Tell us your Andreas Antonopoulos’ stories in the comments below.
Images via Pixabay, Twitter.
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So let’s get this straight: you should be a bitcoin millionaire right now only you’re not because you a) sold too soon b) bought too late c) disregarded your mate’s advice d) lost your hard drive e) went all in on feathercoin. Welcome to the club. You’re not alone, but that knowledge will come as little comfort when you’re lying awake at night cursing your stupidity. We can’t turn back time, but we can dispense some sound advice that should help put your hard luck story in perspective.
Missed the Boat and Skipped the Party
If you’re late to the bitcoin party – or worse still, if you left before the party got truly started – the regret can be crippling. Every new all-time high drives another dagger into your stricken heart, while the sight of young bucks who’ve never read Satoshi’s white paper drunk on bull market gains is sickening. At least one story has surfaced of an early adopter spiraling into depression after losing all their bitcoins and eventually committing suicide.
But this is meant to be an uplifting piece, not a morbid one. Thankfully, most people who missed the boat suffer nothing worse than a bad case of hindsight. If that’s you, stop beating yourself up. There are three reasons to be cheerful, but before we consider them, let’s consider the psychology of luck.
Queuing Theory Said This Would Happen
You’re shopping for groceries and pick the queue that looks fastest. To your chagrin, the one next to you turns out to be quicker, leaving you waiting in line behind the old lady clutching over 9,000 coupon codes. Sound familiar? There’s a simple reason why, statistically, you’re more likely to pick the slowest queue: with a queue on either side, the odds of calling it correctly are just one in three.
What’s that got to do with cryptocurrency? Well, if you bought bitcoin in 2013, for example, the odds of having hodled till now are much lower than one in three. In fact they’re more like 1 in 20. When you see bitcoin whales screenshotting their phat portfolios, it’s easy to assume that this is the norm; that everyone else is getting served fast in the store but you. The reality is that most people are in the same boat as you – one which is several lengths behind the boat they’d rather be in.
Reasons to be Cheerful
Knowing that most bitcoiners have screwed up just as bad as you will provide scant consolation. The following points should provide succor, however, and double your resolve to make amends.
1. We’re priviliged to live in a time where it’s possible to acquire wealth through little more than pushing a few buttons and waiting a while. There’s no need to climb chimneys, descend into coal mines, or go to war. You might not make it to Lambo-land, but with a sensible buy and hold strategy, there’s every reason to be confident of turning a profit. You know how all those early adopters from 2013 and prior got rich? They bought bitcoin and then held on tight, through times of low income and 80% crashes and lean years where nothing happened. They’ve earned their success. Have some patience and you might just earn yours.
2. If bitcoin continues on the trajectory that many have predicted, missing out on the first $ 10-$ 15k will be like grumbling because you bought bitcoin when it was a dollar instead of a cent. Sure, there are no certainties in this game, but presumably you knew that and accepted this risk before you signed up.
3. There are other crypto assets which “do a bitcoin” every single week and go stratospheric. Even if the bitcoin boat is out of reach, there are plenty of other ships departing on a regular basis. Succeeding with such an enterprise calls for doing your own research, being patient and – crazy as this might sound – actually putting in some work. Your judgement may be vindicated or you may get it horribly wrong, but provided you’re not betting the house and the car on black, so to speak, there’ll be other chances to get in on the ground.
Finally, if you’re in bitcoin solely to get rich, you’re doing it wrong. Ask not what your cryptocurrency can do for you: ask what you can do for your cryptocurrency.
What’s your biggest bitcoin regret? Let us know in the comments section below.
Images courtesy of Shutterstock.
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All eyes have been on Bitfinex in recent days, with the exchange experiencing dramatic flash crashes on select altcoin markets after having been the subject of a distributed denial-of-service (DDoS) attack last week. A quarterly shareholder update from the company has also been leaked, evidencing that Bitfinex is one of the major institutions purchasing USDT from Tether – intensifying the controversy and scrutiny surrounding the relationship between the two companies.
NEO, ETP, and OMG Experience Severe Flash-Crashes on Bitfinex
On the 29th of November, several altcoin markets witnessed extreme flash-crashes on the Bitfinex markets. Metaverse (ETP) lost more than 98% of its USD value in a single 1-minute candle. ETP immediately recovered from the crash, however, it quickly showed more signs of weakness, eventually leading to a secondary flash-crash that saw metaverse lose more than 60% of its value in less than ten minutes. NEO experienced a similar crash, losing almost 90% of its value in less than five minutes, whilst OMG lost over 60% of its value in under five minutes.
Although most of the markets have since recovered, many margin traders have complained that they were liquidated as a consequence of the sudden price movements. Brett Kruger, a customer of the exchange, told media that the exchange was “lagging” and “unresponsive” during the flash-crashes – asserting that the technical difficulties left traders unable to react and manage their positions once the crash began, in some cases resulting to stop orders being executed at prices significantly lower than those set by the user.
The crashes occurred just a couple of days after the exchange suffered a DDoS attack. The attack caused Bitfinex to go offline for less than an hour, sparking a brief dip in the price of bitcoin to below $ 11,000 USD. At the time of the attack, the exchange went offline before tweeting “The cause is a DDoS attack. A person or group is intentionally trying to cause the platform to not operate normally.”
A Leaked Quarterly Update Has Evidenced That Bitfinex Is Purchasing USDT From Tether
The recently leaked quarterly report for Bitfinex shareholders has intensified the scrutiny surrounding Bitfinex and Tether. The report states that “Since April, the vast majority of all Tether issuances have been occurring through Bitfinex […] Because Bitfinex and Tether have common principles and banking, there is no limit to the timing or amount of money that can flow between the two entities even if inbound and outbound customer wires are limited. Bitfinex holds the vast majority of its customer USD balances in the form of USD bank balances. Bitfinex typically only holds less than 20M Tethers for customer withdrawal. When that balance approaches zero, Bitfinex moves money (typically $ 20M) from the Bitfinex bank account to the Tether bank account at the same bank in order to purchase additional tether from Tether Limited. To be clear, when this happens, cash is credited (or removed) from Bitfinex’s balance sheet and debited (or added) to Tether’s.”
The report asserts that the reason behind “the continuing creation of Tethers is […] demand from verified customers,” adding that “Bitfinex simply acts as an aggregator of customer demands for bulk creation and acquisition of Tethers.” The report claims that the creation of USDT “has nothing to do with the USD lending market” – addressing speculation that many of the Tethers recently produced have been used to fund margin trading on the exchange. However, with the company still failing to provide evidence of their associated banking partners, going as far as agreeing to provide such information to a reporter on the condition that they sign a non-disclosure agreement, many traders have continued to express skepticism regarding the operations of Bitfinex and Tether.
Lastly, an exhumed Bitcointalk thread from 2014 in which Giancarlo Devasini, widely considered to be Bitfinex’s chief financial officer, called an aggrieved customer a “retarded prick” and publicly disclosed their account balance, has circulated recently. In the same thread, Mr. Devasini also responds to a question asking if Bitfinex can develop a “bot [… to] take [bitcoin] to 10,000?” by stating “Currently working on it… :-P” – calling into question the professionalism of the conduct displayed by the exchange’s top representatives.
What is your opinion on the recent controversy surrounding Bitfinex and Tether? Share your thoughts in the comments section below!
Images courtesy of Shutterstock
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Two major firms, Chicago Mercantile Exchange (CME Group Inc) and Chicago Board Options Exchange (Cboe), are set to offer bitcoin futures this month. One grave fear is price manipulation, as the industry’s principal regulator, Commodity Futures Trading Commission (CFTC), explained in an interview this morning.
Bitcoin Futures “A Unique Animal Unlike Any Commodity”
Affable CFTC regulator, Chief Market Intelligence Officer, Andrew Busch described this morning the coming futures scenario as “a pretty exciting time” on CNBC’s Squawk Box.
The CFTC is the main regulator of industry contracts, and is anticipating cryptocurrencies into its policy scheme.
“I think it’s really important for people to understand,” Mr. Busch continued, “the process by which a new contract gets created, by the CME and other exchanges, there are two paths you can go down: a self-certification process and then there’s a written approval process,” he clarified.
CFTC has been on the defensive for a while, as market heavies such as Interactive Brokers and its chairman, Thomas Peterffy, took a full page advertisement to warn against and actively urge such contracts be separated from the rest.
“Most of these guys come through with self-certification,” Mr. Busch noted. “We get involved and take a look at things because bitcoin is so unusual. Our chairman has said this is a unique animal unlike any commodity we’ve looked at before.”
“We got involved with them earlier in the process. We modified, or encouraged them to modify, parts of the contract. The margin is much higher than what they originally came to us at,” Mr. Busch acknowledged.
An interviewer interrupted, “Is it safer? Will it be safer?”
“What we’re trying to do is show people that the exchanges,” he answered, “they’re the ones looking at the underlying cash contract to make sure it’s not manipulated. Our role as a derivatives regulator is to make sure the futures contract is not manipulated. We’re going to do that for sure. And we’re going to continue to work with the exchanges just to make sure bitcoin is not manipulated in its use on the exchanges.”
“This is really important for people to understand looking at bitcoin: the underlying cash market is not regulated at this point,” he emphasized. “And I think it’s important for investors and everybody else looking at bitcoin and other currencies to keep that in mind when they’re trying to make a decision on what to do with it,” he said.
He was asked about the risks with a commodity trading within unregulated and highly regulated markets.
“It’s a green field for sure. If we talk to anybody within the agencies, they say, one of the biggest challenges is the price volatility,” he said, noting other products within the same markets are themselves volatile. “We’ve run stress-tests on them, and we’re moving ahead with it. I think the exchanges are comfortable with it as well.”
The regulator was put in the awkward position of defending bitcoin, and for the rest of the segment he actually did a pretty good job. The appropriate level of margin, hedge funds salivating at cornering bitcoin in order to bet against it, arbitrage opportunities, all of it, he said, were market mechanisms designed to mature this “unique animal.”
What do you think about futures and their impact on bitcoin’s price? Tell us in the comments below.
Images via Pixabay.
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The price of bitcoin has once again reached a new price high on December 6 touching $ 14K across exchanges worldwide. The value touched an all-time high of $ 14,047 and quickly dropped to the $ 13,500 range shortly after. At the moment order books across exchanges are going wild.
The bitcoin price locomotive continues to truck upwards and steamed past the $ 14K region on December 6. Bitcoin’s value had touched $ 14,047 per BTC at approximately 8 pm EDT. The price already reached the $ 13,000 region earlier in the day for the first time. The currency has increased by 20 percent from the start of the day’s trading sessions and currently commands a record global trade volume of over $ 13Bn over the past 24-hours. At $ 14,000 per BTC the decentralized currency captured a massive $ 235Bn market capitalization.
Currently, South Korean markets are pushing the volume to extreme levels as Bithumb is commanding the top exchange position today. The Korean trading platform is followed by the exchanges Bitfinex, GDAX, Binance, and Bittrex. The Korean won has taken a large chunk of the Japanese yen’s dominance over bitcoin markets. At the moment the Japanese yen only captures 48 percent as the KRW has pushed up to 7.9 percent behind the USD.
The $ 14,000 range didn’t last long but bulls still have a lot of pressure pushing up the price. Above the $ 14K area is a lot of resistance with gigantic sell walls between the $ 15-16K territories. In the background, however, buy walls are much thinner showing that very large and quick dips like the one that took place earlier this evening could happen quite easily. After dropping to the $ 13,500 region bulls have already pushed the price back above $ 13,900 only a few minutes later, proving anything can happen going forward.
The fact that the price of bitcoin had moved over $ 1,000 in one day from $ 13K to $ 14K has been astonishing, to say the least. But everyone involved with bitcoin knows the honey badger of money doesn’t care what any of us think and keeps on making its mark on the world.
Where do you see the price of bitcoin heading from here? Let us know in the comments below.
Disclaimer: Price articles and bitcoin markets updates are intended for informational purposes only and should not to be considered as trading advice. Neither Bitcoin.com nor the author is responsible for any losses or gains, as the ultimate decision to conduct a trade is made by the reader. Always remember that only those in possession of the private keys are in control of the “money.”
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Apple is one of the most successful companies in the history of Silicon Valley, revolutionizing and dominating market after market from graphic design to music and mobile phones. It is also one of the most powerful companies in the world right now, expected to be the first to reach a trillion dollar market cap. As such, one might expect Apple Pay Cash to obliterate the competition, but bitcoin can change that.
Apple Pay Cash
This Tuesday Apple Pay Cash and person to person payments were made available to Apple customers in the US. The company promotes this service as the simplest way to make person to person payments on iPhone, iPad and Apple Watch.
Users can now get paid right within iMessage, or by just asking Siri to pay someone. They can use the debit and credit cards they already have added to Apple Pay, so there’s no need to install an app or create another account.
While most analysts see this as a response from Apple to Venmo or Square’s Cash App, it is hard to believe Apple hasn’t also noticed the millions of bitcoin wallet apps downloaded recently. It’s easy for some of us to forget these days that the cryptocurrency wasn’t created just to store value but also to act as a P2P cash system.
Mobile Money Apps Turn to Bitcoin
While Apple is promoting its propitiatory fiat-only service, more and more mobile app developers are giving-in to user demands and adding support for bitcoin. Just two notable recent examples are Square’s Cash App and mobile banking app Revolut.
On Tuesday Square said it was rolling out its buy and sell bitcoin feature to a substantial amount of new users. And Today Revolut announced that customers will now be able to use the app for instant purchases of cryptocurrencies via Bitstamp or transfer their bitcoin, litecoin and ethereum to other Revolut customers instantly and for free.
“This is something that our customers have wanted for a long time,” said Lewis Tuff, Revolut’s Chief Platform Engineer. “We think Bitstamp is the perfect partner as we provide Revolut customers with the ability to convert fiat money to cryptocurrencies, making the process much faster and much more accessible.”
Should we expect Apple Pay Cash to add bitcoin support eventually or is Apple planning its own iCoin? Tell us what you think in the comments section below.
Images courtesy of Shutterstock, Apple.
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Crypto’s nouveau rich finally have a way to splash their digital cash. The White Company, “purveyors of luxury to the cryptocurrency world” will furnish buyers with everything from fine art to fine automobiles. The high-end goods can be paid for anonymously in cryptocurrency and delivered anywhere in the world. The company claims to have already concluded a number of major sales.
The Memes Are Real
Cryptocurrency traders have long dreamed and memed of making enough to afford a Lambo. Well now they can – and without needing to cash out into fiat. As The White Company explains:
We offer a wide selection of authenticated items, from fine art to luxury automobiles. Our clients can purchase any item, delivered to anywhere, with complete anonymity using their Bitcoin or other cryptocurrency wealth.
Items for sale on the site include a Lamborghini Huracan LP-610-4, currently priced at 19.6 BTC, and also denominated in ETH and LTC. Buyers concerned that a brilliant green Lambo won’t create enough of a statement can follow this up with an 18K gold Rolex – a snip at just 1.28 BTC – and an intriguing piece of fine art by Peter Beard dubbed “Double Exposed Horny Rhino”. It’s a real looker, but comes in at 6.4 BTC, or about a third of a Lamborghini.
The Fast and the Furious
The White Company’s CEO, Elizabeth White, told the Washington Examiner that the New York firm pays sales tax, but that it is the duty of buyers to comply with applicable laws in their territory. For the ultra-discreet, encrypted transactions and worldwide delivery are all part of the service. Cryptocurrency whales may find the temptation to put a down payment on a luxury sports car too much to bear.
As a press release for prospective customers explains: “If there is anything a client wants to purchase with bitcoin, we will be able to get it for them. Just yesterday we had a client wanting a suite at the Super Bowl and we made that happen.”
The majority of bitcoin millionaires seem content to hold onto their portfolios in the hope that their assets will grow further. Those tempted to realize some of their wild gains, however, finally have a means of doing so without needing to jump through hoops or reveal their identity. This might not have been Satoshi’s vision, but it’s a dream that a handful of the crypto rich will be only too happy to embrace.
What luxury goods will you be buying when your crypto bags reach the moon? Let us know in the comments section below.
Images courtesy of Shutterstock, and The White Company.
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