Cryptocurrency News for 15 Aug 2017
Bitcoin Price Tops $4,400 As Crypto Market Nears $150 Billion
Bitcoin prices have set an all-time high above $4,400.
Just an hour after the August 15 session opened, the average price of bitcoin was up across global exchanges, rising from an opening total of $4,382. At press time, the price continued to edge upward, following a day in which in gained more than $200, rising to $4,382 from $4,111 on Sunday.
Week-over-week, price gains were even more impressive, with the value of the cryptocurrency rising just over 30% from $3,382 at the end of trading a week ago.
The movement comes at a time when institutional investors are beginning to take a new interest in bitcoin and the larger cryptocurrency asset class.
Full story at http://bit.ly/2w9t6on
Source: CoinDesk
Twitter CEO Jack Dorsey Claims that Bitcoin and Blockchain Technology are the ‘Next Big Unlock’
Jack Dorsey, CEO of both Square and Twitter, has claimed that Blockchain technology and Bitcoin are the “next big unlock.” He added that the term is usually applied to accounting but has the capability to “be applied to so much more.”
In an August 2017 interview at the Computer History Museum in Mountain View, California, Dorsey discussed such topics as the future of banking, Blockchain technology and digital currencies like Bitcoin.
Several financial and technical experts at the gathering defined Blockchain as a ledger that allows secure and encrypted transactions. Others compared it to the early days of the Internet, arguing that Blockchain will serve as a framework for building new technologies.
Dorsey, however, claimed that Blockchain’s ability to decentralize financial transactions makes it a game-changer. He also cautioned against using Blockchain in a one-size-fits-all approach:
“I think there are going to be a bunch of people who say, ‘Blockchain, let’s go apply it everywhere’ and ‘Let’s try to solve every single problem with it. In the same way that we try to solve every problem with machine learning and data science and deep learning and artificial intelligence. And I think we need to be more thoughtful. What are people struggling with? How does the technology help them progress or does it distract them?”
Full story at http://bit.ly/2w9dukB
Source: CoinTelegraph
$4,800: Goldman Sachs Analyst Thinks the Bitcoin Price Is Heading Higher
An analyst for investment bank Goldman Sachs said yesterday that the price of bitcoin could shoot as high as $4,800, comments that came amid new highs for the cryptocurrency.
Business Insider reports that, in a client note distributed on Sunday, chief technician Sheba Jafari suggested that the price of bitcoin could shoot well past $4,000 given that it had neared a target of around $3,600 she set late last month. That same day, the price of bitcoin shot above $4,000 for the first time.
With that milestone hit, Jafari predicted, the price could climb to as much as $4,827. But she went on to caution that the market could correct, sending the price tumbling below $3,000.
Jafari’s comments come as the price of bitcoin continues to trade above the $4,300 mark. At press time, the price of bitcoin is roughly $4,328, an increase of more than 5 percent compared to yesterday.
Full story at http://bit.ly/2w9qirt
Source: CoinDesk
More and More Investors Are Transferring Their Funds into Cryptocurrencies: Reasons and Trends
Bitcoin’s role in global markets has become clear amidst rising tension between the US and North Korea. Investors have started to include Bitcoin in their portfolios as a safe haven asset, due to its immutability to economic uncertainty and the instability of global markets.
Analysts including InvestFeed CEO Ron Chernesky and Jeff Rosenberg, fixed income strategist at Blackrock, a US-based investment management company with over $5.7 tln in assets under management, noted that the intensified conflict between the US and North Korea has led to equity markets sell-off and ultimately to mid-term economic uncertainty.
As a result, Chernesky explained that a rapidly rising number of investors and traders have begun to shift their focus towards Bitcoin as a safe haven asset and long-term investment.
Full story at http://bit.ly/2w9gnlp
Source: CoinTelegraph
Bitcoin Prices Reach (Yet Another) All-Time High, Passing $4,300
Bitcoin has continued to trade at over $4,000 since reaching a record level of $4,225 yesterday, and has now set a new all-time high of over $4,300.
According to the CoinDesk Bitcoin Price Index, average prices across exchanges today opened at $4,111 and have seen a 4.97 percent increase so far. At press time, a bitcoin was worth $4,315
Notably, since the price passed the $4,000-mark for the first time yesterday, prices have maintained a level fluctuating at around $4,100, only dipping to below that level once when bitcoin was trading briefly for around $3,900. However, prices soon returned to above the $4,000 point.
The record-breaking price levels would seem to indicate money coming into the market that had been held back pending the uncertain outcome of a split of the bitcoin network that resulted in a new cryptocurrency called bitcoin cash.
Full story at http://bit.ly/2w9rz1K
Source: CoinDesk
Altcoins Could Lose 20% When Bitcoin Climbs To $5,000
Altcoins could slide 20 percent if Bitcoin hits $5,000 in the near future, a trader has warned as prices remain firmly above $4,000.
With Bitcoin squarely outperforming the majority of altcoins Monday, even Ethereum (ETH) is struggling to post meaningful growth.
A push for $5,000 could see temporary heavy losses for alternative cryptoassets, according to Twitter commentator CryptoPhil.
A glance at current statistics for the top 10 cryptocurrencies on Coinmarketcap underscores the current lack of correlation between Bitcoin’s solid progress and the uncertainty seen in altcoin markets.
Full story at http://bit.ly/2w9keiC
Source: CoinTelegraph
Prepared by @SydesJokes
Check the Telegram Cryptocurrency News channel
5WCYJB7s1srPNYqLjizw3PDqDEfNfXXJNB47gQauDYUH7ZHHWH29LnkheszihGnzSnZfTtMAAHHX45dkyrTjzaJKJrTCpdV