TOP FIVE CRYPTO MARKET NEWS 24-APR-18

alirajput (27)in #bitcoin • 6 years ago

BITCOIN VALUE IS ON THE VERGE OF ANOTHER 'PRICE EXPLOSION', ACCORDING TO CRYPTOCURRENCY EXPERTS

Bitcoin is primed for another “price explosion” that could see the cryptocurrency’s value soar to even greater levels than it experienced in 2017, according to analysts.The price predictions come amid significant gains across cryptocurrency markets in recent weeks that have seen bitcoin rise by more than a third in value to return above $9,000 for the first time since March.“I’m not surprised to see bitcoin’s price exceed $9,000 this week,” Rodrigo Marques, CEO of investment platform Atlas Quantum, told The Independent. “Rumours of a price explosion seem to have been driven by more and more institutional buyers getting into cryptocurrencies.”

Analysts have previously cited concerns about cryptocurrency regulation when explaining bitcoin’s dramatic drop in value at the beginning of 2018, which saw it lose over $10,000 over the course of a few months.However, the right kind of regulation could in fact be a boost for bitcoin and other cryptocurrencies as it will protect investors while also exploiting their benefits.

Mr Marques said :

If these concerns are addressed and there is even more positive movement related to regulation in these markets, there could be even more buying pressure to come.”

Oliver Isaacs, an experienced blockchain and cryptocurrency adviser, told The Independent.

Bitcoin is well on its way to $10,000 and the volumes, buy orders and momentum oscillators all point towards this

2-Bitcoin Price Climbs to 40-Day High Above $9,200

Bitcoin's price climbed above $9,200 on Tuesday to hit a 40-day high, according to data from CoinDesk's Bitcoin Price Index (BPI).Following a steady increase over the past week, the price of world's largest cryptocurrency by market capitalization jumped above $9,000 soon after the morning trading session began around 00:30 UTC, after which it continued to climb up to as high as $9,220.97 at around 2:00 UTC.The price is at its highest point since March 14, when bitcoin dropped $800 within one trading day to reach a one-month low around $8,000.Following the plunge, the cryptocurrency's price declined to as low as $6,593 on March 30, reflecting what is now a 39% gain since that market bottom.

eToro analyst Matthew Newton said :

From our analysis, it is important that bitcoin continues on this trajectory; breaking $12,000 for the first time since January will be a potential turning point

3-Tim Draper Says Bitcoin Is Bigger Than The Industrial Revolution In Debate With Skeptics

Tim Draper claimed that :

Bitcoin would be “bigger than all of those combined,” and that the scale and importance of Bitcoin and the technology behind it exceeds that of major technological developments in human history

It's bigger than the Iron Age, the Renaissance. It's bigger than the Industrial Revolution."

In five years you are going to try to go buy coffee with fiat currency and they are going to laugh at you because you're not using crypto. I believe that there will be a point at which you will no longer really want any of the fiat currency.

At the Intelligence Squared debate, Draper also spoke on Bitcoin market dominance, claiming that the largest cryptocurrency is likely to win the "long-term crypto battle" against altcoins. Meanwhile, BTC dominance, or the percentage of total market cap that is Bitcoin’s, is currently around 38 percent, down from its monthly high around 44 percent.

4-Forget about China, Think of Hong Kong

Beijing’s crackdown on cryptocurrencies has turned China’s own Special Administrative Region of Hong Kong and the Asian city-state of Singapore into wanted destinations for investors and businesses raising crypto funds. The number of startups launching initial coin offerings (ICOs) in these two territories has sky-rocketed in recent months, according to local fintech entrepreneurs, lawyers, and industry organizations. “Yes, there has been a lot of activity,” said Anson Zeall, chairman of Singapore’s Association of Cryptocurrency Enterprises and Startups. Like many others in the sector, he thinks the increase is related to China’s retreat from ICOs.

Thanks to its independent legal system, Hong Kong has also seen significant ICO growth. As reported by Chinese media, all ICO platforms and Bitcoin exchanges have already exited the Chinese market as a result of official warnings of the risks associated with investing in these projects. Well, others, including Hong Kong, which is part of China, are still willing to accept the risks, supporting innovation and economic growth.

Disclaimer: THIS #ARTICLE IS NARRATED FROM different sources and is not intended to provide, #investment #advice. Please conduct your own thorough research before #investing in any #cryptocurrency.

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