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bitcoin price

Bitcoin Price Analysis and SegWit

While Bitcoin price is experiencing a new growth after the almost 50% drop from its all-time high, a few analysts of the crypto market suggest that bitcoin price at $4000 is in the air.

And this moment seems to come sooner than expected.

“When added to the professed agreement for major players to work together on the Bitcoin scaling issue starting September – if it becomes a reality, the price could see between $4,000 and $5,000 before the year ends,” said an expert to Cointelegraph.

2017 has been a good year for bitcoin price, as it traded at about $950 back in January and it reached its new all-time high a few months ago in June with a value of $3011: this means that bitcoin price grew of more than 3000% in a six-months period.

Compared to the all-time high we quoted above, the current price decrease is maybe due to the uncertainty around the upcoming SegWit activation that will take place on August 1st, 2017.

For those who are unfamiliar with this, SegWit is a new upgrade to the Bitcoin blockchain that will increase the block size to support more transactions and allow a faster confirmation for transactions.

At the moment, the blockchain supports up to 2000 transactions per block in 10 minutes and SegWit will double this capacity to 4000 transactions.

Also, Segwit2x will increase the size of each block from 1MB to 2MB.

SegWit will be implemented on August 1s, while it is not sure yet if Segwit2x will be implemented too.

That said, the real reason of uncertainty is caused by the hard fork needed to implement SegWit.

This might create two different chains in a similar way to what happened to Ethereum in 2016 with the DAO and Ethereum Classic.

Not a problem for the Bitcoin price

According to many experts in the industry, while this event might create panic sell and uncertainty within the community, will not be a real problem in the next future.

Kumar Gaurav of Cashaa explained to Cointelegraph:

“When looking at 2017 so far, it still has been a good year for Bitcoin, starting just below 1000$ and now standing just below $2,000. Whether and to which extent this overall trend will continue will be seen more clearly after some crucial dates such as 1st August. If 80% of the Bitcoin community adopts the updates all should be fine. It seems most likely this will be reached, as the current signaling of intended support is at 87.8 percent, an increase from 83.28 percent in May. Comparable to when in May, following the New York agreement on SegWit2x, Bitcoin reached an all-time high of $2,160, it can reach new all-time highs after a successful activation as Bitcoin will be more attractive again and bring users of other cryptocurrencies back to Bitcoin.”

Bitcoin-based ICOs

Another reason that might be influenced the price is the growing number of Bitcoin-based ICOs or Initial Coin Offerings.

ICOs managers might have cashed out during those days and this drove the prices because a huge amount of bitcoin appeared on the market.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Amelia Tomasicchio
trump bitcoin

Bitcoin Price rose because of Trump

 

 

trump bitcoinAfter reaching a value of $1,840, Bitcoin price is currently stable around $1,820 while I’m writing this article.

The recent growth of the Bitcoin price seems to be affected by President Trump administration and the economic uncertainty of the US.

Or, at least, this is a theory shared on Cointelegraph.

From the first day of his presidency, Trump indirectly influenced bitcoin price through his dubious politics.

Also, Bloomberg reported that the major American stock indexes experienced their worst performance in eight months while the richest billionaires lost $35 billion because of the Trump’s turmoil.

For example, Amazon’s Jeff Bezos and Facebook’s Mark Zuckerberg lost almost $4 bln due to the Dow Jones Industrial Average drop of more than 370 points.
Evercore ISI Executive Dennis DeBusschere explained to Bloomberg:

“What has been setting in over the course of the day is that political uncertainty is something that’s likely going to be with us for a significant amount of time. We may be looking at a higher volatility backdrop with a trending lower market for the next couple of months.”

So, during this period of financial uncertainty, investors decided to protect their wealth by investing in bitcoin and gold.

Gold gained around 1.9% and Bitcoin price recorded a 7% growth, almost reaching its current all-time high price of $1,868.

This way, bitcoin seems to become a safe-heaven, with a growing number of investors.

As explained by Cointelegraph, a $10,000 investment in gold back in 2010 would have led to a loss of $20, while a $10,000 investment in Bitcoin would have led to a net gain of $200 mln.

So, investors started to trust Bitcoin, that is considered similar to digital gold, in order to avoid market instability and economic uncertainty.

The US market will struggle to recover during the next few weeks, so Bitcoin price is likely to maintain its upward trend and potentially it will set a new all-time high.

The rise in bitcoin demand within the US is clear and recently the US Bitcoin exchange market passed the Japanese one for the first time in 2017, at least for their trading volume.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Amelia Tomasicchio
bitcoin users

Bitcoin price: one month above $1000

According to the Coindesk Price Index (CPI) Bitcoin price has reached a new goal, as it is one month that its value is above $1000. 

The digital currency remained above this value despite any situation as the refusal of the bitcoin ETF related proposal by Cameron and Tyler Winklevoss, and the current debate over how to address the bitcoin’s technical limitations.

It was February 14th – is it a coincidence or a sign of destiny that this happened on the Valentine’s day? –  when Bitcoin price first hit $1000, so yesterday (March 14th) it was one month above this price.

During this month, bitcoin reached its all time high, reaching a value of $1,300. Experts argued that this higher price was a consequence of the hope in the bitcoin ETF approval.

But, if it is true that right after the SEC negative decision, the bitcoin price fell of about 30% ($from 1209 to $1022), it quickly rose again and at press time bitcoin is trading at $1256, so more than 25% above $1000.

As explained by Andreas Antonopoulos on his official Twitter profile:

“If you measure bitcoin’s success by the approval of the incumbent and obsolete industry it replaces, you’re doing it wrong”.

Also, currently a few altcoins such as Ether, Dash, Zcash and more are experiencing new highs.

 

 

 

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Amelia Tomasicchio
bitcoin_prices

Bitcoin Prices are trading above $950

Bitcoin prices are growing more than 3% since yesterday, trading above $950 for the first time in a few weeks.

The average price yesterday reached a high of $959.37 from an open of $920.24, according to the CoinDesk Bitcoin Price Index (BPI). This chart shows that the Bitcoin prices haven’t passed $950 for a month, since January 6th 2017, to be more exact.

This Bitcoin prices growth above $950 came after a few days of a almost steady trading, in which the price of bitcoin ranged between roughly $910 and $922, according to trading data.

At the moment, the Bitcoin Prices are between $950 and $970 with a medium rate of volatility.

Chinese markets have climbed about 11%, reaching a high of ¥6,629.34.

Currently the price is about ¥6,608.70 and it represents a growth of 10.7% above yesterday’s open of ¥5,961.77.

This move comes after a big news in the worldwide exchange landscape, as major bourses in China moved to add trading fees.

This is the reason why volumes moved to the remaining markets without any fees.

Anyway, experts now discuss that this trend will have a short life as those exchanges will also add fees of their own for sure in the next future.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Amelia Tomasicchio

Bitcoin Price today Breaches $750

The Bitcoin price today keeps growing up over the value of $750.

This is the sixth time that bitcoin price breaches $750 since mid-November, as revealed by the CoinDesk USD Bitcoin Price Index.

Bitcoin was subject to much volatility during a low trading volume, as CoinMarketCap data showed that during the session, the 24-hour trading volume was roughly $90 million.

This was a lower trading activity compared to last month, when it reached $174 million on November 3rd and $173 million on November 17th.

The digital currency price passed the $750 value several times during November.

The Bitcoin price first breached $750 on 17th November, maintaining this level for a short time, then moving back to a lower value even under $ 700.

Also, it is important to remember that the bitcoin price today exceeded $750 and it did the same many times recently, but it never breached $755 during the last few weeks.

In India the bitcoin price exploded and last week it reached almost $1000 as the country tried to exchange value via Zebpay and Unocoin.

According to Coindesk, the bitcoin price today also reached a growing value of Eur 724, and

2016 has been a great year for Bitcoin. For example, scalability innovations like Segregated Witness have been introduced to the Bitcoin community, many positive Blockchain tests have taken place and many new markets have turned to Bitcoin as a new method of payment.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Amelia Tomasicchio

Bitcoin Price trades at $750, $900 in India

The bitcoin price is currently trading at $750, its highest level in five months.

At the moment, bitcoin price rose by about 2%, and by $50 since this Monday.

Recently we said that the election of the 45th U.S.A. President Donald Trump might be one of the reasons behindthis bitcoin Price growth.

Earlier this week the bitcoin price grow of about $30 in just one hour, and now bitcoin is approaching the 2016 high it reached in June, when the price was at $764.

At that time, bitcoin price was growing mainly due to the halving eventas experts explained that it has a key role in the growth of demand, as it reduces the block reward by 50%.

Conversely, this time the bitcoin price growth is not attributable to a single cause.

Recently, bitcoin has been enjoying bullish feelings among its avid traders, and there are a few signs that its recent ascent might have been drived by foreign market forces.

For example, India has recently experienced a ban on certain denominations of banknotes, a development that local bitcoin companies claim has supported business, though public data platforms (including LocalBitcoins) explain the effects are not so clear.

In fact, on the Indian exchange Unocoin, one bitcoin traded for 61,688 India rupees, or more than $900, an event that boosts claims of strong local demand.

Another reason why the price is growing could be the devaluation of China’s yuan, as it is falling down this week.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Amelia Tomasicchio
trump bitcoin

With Donald Trump Bitcoin Price could grow

America has its 45th President today and several bitcoin investors and analysts believe that with Donald Trump Bitcoin price could grow, as its presidency could provide a boost to bitcoin prices.

Analysts explained that even if Bitcoin markets would not see any significant change from Clinton’s election, instead Trump could impact worldwide investors, so traders agree that Donald Trump will be a good thing for bitcoin business.

Jacob Eliosoff commented:

“I think a Trump presidency would be great for bitcoin, much like nuclear war would be great for bitcoin. It would be an epic disaster in a bunch of respects – economic, geopolitical, democratic – and in the fear and chaos bitcoin would be a defensive asset people could turn to.”

If Hillary Clinton won, experts have suggested that she would be a boom for the blockchain markets, given her open embrace of the tech as part of her innovation platform. Previously, in fact, she suggested she would use the distributed ledger.

The Donald Trump Bitcoin Effect

Donald Trump hasn’t put bitcoin on his agenda yet, but he defined himself as a “Washington outsider”, so traders believe that he lead to uncertainty and move towards alternative assets.

This might create just a temporary increase in bitcoin prices, but it might have a little lasting effect.

In fact,  ARK Invest‘s Chris Burniske underlined that bitcoin can be useful in unpredictable times like this, and the election could add evidence to this claim.

“The way in which its price movement is uncorrelated from other capital market assets may be a desirable characteristic for many investors in the face of uncertainty. Depending on how people feel about the election, they may choose to hedge themselves from the more traditional markets by using bitcoin.”

So, in a few words, if bitcoin benefits from the election result, don’t give Trump too much credit for that, any other cataclysm would have done the same.

<img src="/images/DonaldTrumpBitcoin.jpg" alt="Donald Trump Bitcoin" height="264" width="350" />

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Amelia Tomasicchio

Bitcoin price rise again thanks to the Brexit

United Kingdom Flaf
After reaching a low of $550 during the week, the bitcoin price rose again reaching a high of $650 today.
Although it was normal to see a correction after the fast climb of the previous weeks, the bitcoin price probably fell also because of the “Bremain”, or the possibility of UK to remain into the EU.
This volatility has a main reason: Brexit and Bremain.
When it seemed that England would remain in the European Union the bitcoin price fell immediately.
Conversely, now with the official news of the Brexit, the Bitcoin price is finally starting to rise again.

Brexit and Bitcoin price rise

Yesterday England had to vote for a referendum in which voters had to decide if their country should remain (Bremain) or leave (Brexit) the EU.
When the official news of 54.4% votes for the Brexit arrived, the Bitcoin price increased from $560 to $655.
This phenomenon is probably due to the fear led by the volatility in the fiat currency and traditional markets.

5 reasons why Bitcoin price rise

Few days ago we talked about the causes of the Bitcoin price rise.
Among these we quoted the Brexit, and in fact it seems to be confirmed by the market movements.

Universal Wallet

If you want to store your Bitcoin in a safe and secure way, you should open your wallet on HolyTransaction.com 
On HolyTransaction you can store your Bitcoin but also other digital currencies such as Peercoin, Dogecoin and more.
Usually if you want to store different kinds of cryptocurrencies you need to open several accounts.
With HolyTransaction we changed this method, as you can store your different coins in an only wallet, with a single login.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Satoshi
Bitcoin price rise again thanks to the Brexit

Bitcoin price rise again thanks to the Brexit

After reaching a low of $550 during the week, the bitcoin price rose again reaching a high of $650 today.
Although it was normal to see a correction after the fast climb of the previous weeks, the bitcoin price probably fell also because of the “Bremain”, or the possibility of UK to remain into the EU.
This volatility has a main reason: Brexit and Bremain.
When it seemed that England would remain in the European Union the bitcoin price fell immediately.
Conversely, now with the official news of the Brexit, the Bitcoin price is finally starting to rise again.

Brexit and Bitcoin price rise

Yesterday England had to vote for a referendum in which voters had to decide if their country should remain (Bremain) or leave (Brexit) the EU.
When the official news of 54.4% votes for the Brexit arrived, the Bitcoin price increased from $560 to $655.
This phenomenon is probably due to the fear led by the volatility in the fiat currency and traditional markets.

5 reasons why Bitcoin price rise

Few days ago we talked about the causes of the Bitcoin price rise.
Among these we quoted the Brexit, and in fact it seems to be confirmed by the market movements.

Universal Wallet

If you want to store your Bitcoin in a safe and secure way, you should open your wallet on HolyTransaction.com 
On HolyTransaction you can store your Bitcoin but also other digital currencies such as Peercoin, Dogecoin and more.
Usually if you want to store different kinds of cryptocurrencies you need to open several accounts.
With HolyTransaction we changed this method, as you can store your different coins in an only wallet, with a single login.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Amelia Tomasicchio

Bitcoin Price Drops because of the Bremain

United Kingdom Flag

Bremain and Bitcoin

Today Bitcoin price drops of about $100, falling to peak of 15% by reaching the value of $551 according to Bitstamp.
In the recent weeks we talked about the 5 reasons of the Bitcoin price was rising so fast. In the list we quoted the “Brexit” as a possible reason.
In fact, the uncertainty caused by this move could be a foundamental reason for the Bitcoin growth.

Bitcoin price Drops

This Bitcoin fall is a continuation of the recent correction – probably due to the previous too fast growth, as explained George Sammam – that began on June 18th, when the price hit $774.
A possible reason for this Bitcoin decline is the “Bremain”, or the possibility of the UK to remain in the European Union.
In fact, experts suggested that maybe the bitcoin price is falling down because of the increasing possibility that UK will vote to remain in the EU.

 

Tim Enneking of Crypto Currency Fund; investor Vinny Linghan and Arthur Hayes, co-founder of BitMEX, all quoted the ‘Brexit’ vote as a possible reason for this drop:

 

 

“The drop below $600 indicates that many traders believe that ‘Bremain’ will prevail. The vote is still too close to call with various polls indicating ‘Brexit’ and ‘Bremain’ in a dead heat.”

 

So, will the Bitcoin price continue to fall or it will remain stable? Stay tuned for next updates.

Multicurrency Wallet

With this high volatility it is a good behavior to store your Bitcoin in a safe wallet and wait for better times.
You can store your Bitcoin and other digital currencies such as Litecoin, Ethereum, Dogecoin in the HolyTransaction Multicurrency wallet.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Satoshi