Saxo Bank Bitcoin Prediction for 2017
Today the Danish investment bank published its Saxo Bank Bitcoin Prediction for 2017, where it explains that wouldn’t be surprised if the bitcoin price will see huge growth during next year.
Saxo Bank, in fact, recently published its annual “Outrageous Predictions for 2017”, a list of speculations that represent its effort to get financial industry think about more possibilities and revolutionary projects for the next year.
In addition to the prediction that UK will not actually leave the European Union (EU) and that Italian equity prices will soar thanks to the European Union led bailout, Saxo Bank affirmed that the bitcoin price will reach a value of more than $2,100 by the end of 2017.
Among its reasons the prediction explained that the American President’s administration might cause turbulence in the American economy, so this can be a good reason for people to invest in digital currencies like bitcoin.
Saxo Bank Bitcoin prediction explains:
“If the banking system as well as sovereigns such as Russia and China move to accept bitcoin as a partial alternative to the USD and the traditional banking and payment system, then we could see bitcoin easily triple over the next year going from the current $700 level to +$2,100 as the block-chains decentralised system, an inability to dilute the finite supply of bitcoins as well as low to no transaction costs gains more traction and acceptance globally.”
Altough this Saxo Bank prediction doesn’t represent an official position, it is not the first bullish indication the bank has made during its career.
In 2014, then-current CEO Lars Seier Christensen explained his personal interest in bitcoin, describing it as a great opportunity for worldwide investors.
At the time, Christensen had also mentioned about early testing of the technology within Saxo bank, although later he explained that liquidity problems at the time were keeping banks on the sidelines.
Source: coindesk.com
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Russia Bitcoin recognized by tax authorities
The uncertainties about the relationship Russia Bitcoin were finally disappeared.
In an official document published a few days ago on November 29th Russia’s federal tax service expressed its new position regarding the legality of Bitcoin use and transactions.
In fact, the document finally explained that there is no legal prohibition of digital currencies in Russia.
Russia Bitcoin and uncertainty
For almost three years it was not clear if the Russian authorities wanted to ban or accept Bitcoin and introduce several penalties.
Somewhere during this period, the Russian ministry of finance commented about the possibility of a four years imprisonment introduction for people involved in the Bitcoin use.
Also, even bank officials sentenced to seven years in prison and banned from holding certain positions.
However, Russian authorities changed their idea and gave the ministry of finance a new directive to write a law on Bitcoin.
For Russia Bitcoin is a foreign currency
The federal tax service’s document affirms the legality of Bitcoin and indicates that all trading operations related to Bitcoin and any other digital currency are to be considered as foreign and external securities.
In fact, this document essentially defines the buying and selling of Bitcoin and other cryptocurrencies a monetary transaction.
Bitcoin for Money laundering and terrorism
However, the document also explained that Russian authorities will investigate about people who use Bitcoin for money laundering and terrorism.
Even if this calls for KYC and AML from exchanges is yet to be clarified by the Russian government as there are more interpretations that are yet to be communicated.
Source: Coindesk.com
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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.
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Bitcoin Gifts for Christmas? Here some ideas
Are you ready for Christmas? Do you want to buy some Bitcoin gifts for you friends and parents?
When Christmas is approaching, every year begins the race for the perfect gift, but unfortunately presents get harder to think. The choice narrows every year, especially if you make a gift to the same people every year.
After the usual shower gel, socks and hats, this year you can give (and maybe even receive) some original Bitcoin gifts. Also, if you don’t like to go out for shopping and deal with the Christmas chaos, you can buy these gifts directly from your home.
Here you can find a wide range of gifts you can make using bitcoin or other digital currencies.
- OpenBaazar: this Bitcoin marketplace allows you to buy several kinds of gifts, including pc games, pins, t-shirts and more. Your order will be shipped to your home address, but shipment costs are quite expensive.
- Thanks to Purse, you now buy everything you need from Amazon but using Bitcoin.
- For coffee lovers, you can decide to visit Bitcoin Coffee Store that delivers everywhere in the world.
That said, if you really want to give your friends and parents an original gift, what about a Bitcoin wallet?
I mean, our wallet is free, of course, and you can open one on HolyTransaction, deposit the amount you want give your friends and family as a present, so they will also learn how to use bitcoin.
You just have to visit our website here, create an account, deposit the bitcoin amount you decide and give these original Bitcoin gifts to your friends.
Maybe you can print out the wallet access key and place it in a beautiful colored envelope under the Christmas tree.
Your lucky recipient will receive a unique, original and useful gift, so he will be aware of the bitcoin world and increase his fintech skills while he spents his new money.
Also, this will also be a good way to spread the use and understanding of bitcoin.
What are you waiting for? Open a new free wallet on HolyTransaction.com.
Open your free digital wallet here to store your cryptocurrencies in a safe place.
Ernst and Young Bitcoin accepted in Switzerland
Ernst and Young Bitcoin: the Swiss branch of global professional services firm will accept the cryptocurrency-kind of payment next year.
Starting in January, Ernst and Young Switzerland will allow bitcoin for invoice payments, as the company explained in a new press release.
Switzerland, Ernst and Young Bitcoin: a profitable relationship
The Swiss firm will also open a new BTM (or Bitcoin ATM) at its office in Zurich, as well as a wallet option for its employees.
This Ernst and Young project is part of the bigger cultural experiment on bitcoin and the distributed ledger conducted in Switzerland.
Late last month, in fact, Swiss railway service announced that it will sell bitcoin on its nationwide network of ticket kiosks; also the Swiss town called Zug will accept Bitcoin for public services payments, as its major explained back in May.
According to Ernst and Young, this launch fits perfectly with this experimental context created in the Swiss country.
Switzerland’s CEO, Marcel Stalder, commented that the company wants its employees to know digital currencies and the blockchain. This project is to provide ways to access a hands-on education, he said.
Stalder explained:
“We don’t only want to talk about digitalization, but also actively drive this process together with our employees and our clients. It is important to us that everybody gets on board and prepares themselves for the revolution set to take place in the business world through blockchains, smart contracts and digital currencies.”
Ernst and Young is just one of the “Big Four” accounting firms involved in the blockchain sector at the moment.
Recently, the company also decided to open a blockchain-related contest for startups with the goal of “exploring how blockchain technology can tackle challenges in digital rights management and energy trading.”
Learn more about Switzerland and Ernst and Young involvemet in the bitcoin field, by clicking on the links above.
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Black Friday Bitcoin: Happy Shopping!
Bitcoin Black Friday
Today Europe and America celebrate the well-known Black Friday, a special day when you can buy everything you need at a special price.
But we, in the Bitcoin World, want to celebrate our Black Friday Bitcoin, so let’s read this article and happy shopping with digital currencies.
As you might know, thanks to Purse.io you can buy from Amazon in Bitcoin. And today you can make very big deals, as Amazon partecipates to the Black Friday with special discounts.
Another good online shop where you can exploit the Black Friday Bitcoin is Bitcoin Black Friday. Here you can buy softwares, services, art, gifts, apparel and more.
Online you can find a lots of oddest places where you can use bitcoin, expecially today.
OpenBaazar and Black Friday Bitcoin
A few months ago I wrote an article about a new shopping platform called OpenBazaar where you can buy everything you are looking for with Bitcoin.
Here you can read a step-by-step guide to understand how to do shopping with this tool.
HolyTransaction Wallet Service
Of course, if you want to start using Bitcoin to do some shopping you need a web wallet where you can store your own digital currencies.
HolyTransaction is a multicurrency wallet where you can store not only Bitcoin, but also Ether, Dash, Dogecoin, Litecoin, Peercoin, Tether and all the most important cryptocurrencies in the world.
Each digital currency has its own address, but all of them has a unique access. So you need to remember just one username and password to login.
To open you wallet, you just need an email address. No other data required, so high privacy provided.
It is easy and it works right from our website, without any software downloads required.
Click here to open your HolyTransaction wallet for free.
Open your free digital wallet here to store your cryptocurrencies in a safe place.
Uganda Bitcoin Regulation
A UN organization related to criminal justice problems published today a few details about a new meeting on bitcoin and digital currencies with the aim of a Uganda Bitcoin Regulation.
Organized in Kampala on 7th July, the meeting was supported by the United Nations African Institute for the Prevention of Crime and the Treatment of Offenders (UNAFRI), the Bank of Uganda and the University of Birmingham Law School.
Dr. Maureen Mapp of the University of Birmingham Law School who partecipated at the event, explained to CoinDesk that the main goal of that event was establishing a basis for a Uganda bitcoin regulation.
Uganda will be one of the first African countries to regulate bitcoin.
Also, Mapp said the effort grew out of a digital currency research project realized with the Commonwealth Secretariat that showed her how Ugandan public officials didn’t know anything about the benefits and risks of the use of virtual currencies.
“I was inspired to engage with policy makers and regulators in order to investigate whether states could develop policies and regulation that encourage innovation while protecting the private rights and interests of users of virtual currencies.”
The goal, she explained, was building awareness and creating a good basis for future discussions.
Thanks to the Ugandan central bank and UNAFRI, Mapp began to contact a few stakeholders in Uganda to put together what became the meeting held in Kampala.
Among the outcomes of the meeting is a think tank dedicated to the “technological, policy, pluralist, ethical and legal issues” about digital currencies, with the organizations and representatives who attended the July meeting.
Those involved also developed a draft for future discussions between private and public stakeholders, which was published earlier this month by UNAFRI.
Next steps will include the creation of a second meeting, set to take place on the same date in 2017.
“The legal and regulatory environment is moving towards embracing the technology so as to harness its benefits and to promote innovation,” she explained.
Source: Coindesk.com
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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 event, as 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.
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Sweden Digital Currency: a new Bitcoin?
Today I want to talk about the new Sweden Digital Currency project.
Sweden’s central bank, in fact, is considering the possibility of issuing its own national virtual currency, but the technology behind it is yet to be revealed.
According to an article published today by The Financial Times, Riksbank wants to create the new virtual currency because of a strong decline in domestic cash use. In fact, according to a report, the amount of notes in circulation has declined 40% since 2009.
Sweden Digital Currency and other solutions
Deputy governor Cecilia Skingsley commented that the central bank wants to test various technologies. Although she did not mention blockchain drectly, the Financial Times explained that the distributed ledger might be one of the options the Sweden bank could consider.
“We need to do the homework because it’s not an option for the public sector to stay on the sidelines and see the private sector cut off access to central bank money for individuals.”
Skingsley said that the digital currency could be issued together with banknotes and coins, but the Riksbank do not want to encourage illegal activity.
Tomorrow Skingsley will give a speech and he might explain more details about the Sweden Digital Currency project.
With this announcement, Sweden will become the latest country to have its own central bank considering to issue a new digital currency, an idea that for the greatest part of nations meant doing several reseatches related to blockchain-based cryptocurrencies.
During the latest few months, the Bank of England has started to discuss and test issuing its own digital currency using the blockchain; and the People’s Bank of China is investigating the idea too.
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World Economic Forum Blockchain led by Estonia
The World Economic Forum Blockchain created a new working group focused on the distributed ledger with the Estonian President.
This so-called “Global Futures Council on Blockchain Technology” will be met for the first time during an event held in Dubai later this week. According to the World Economic Forum Blockchain the group will be focused on the development of governance models related to the distributed ledger.
Toomas Hendrik Ilves, president of Estonia for 10 years, will co-chair together with Jamie Smith, chief communications and marketing officer for bitcoin mining and blockchain services firm BitFury and a former official in the Obama White House.
Members of the group are: Ma Jun (chief economist for the People’s Bank of China’s research outfit) and Claire Sunderland Hay (head of the Bank of England’s fintech startup accelerator).
The group also include representatives from bitcoin-related startups such as BitPesa, Everledger, Ripple and Chain; and institutions such as Barclay’s and Deutsche Bank.
Here you can read the full list of the “World Economic Forum Blockchain” members.
“The distributed ledger or blockchain system of preserving data integrity and security is one of the most promising new technologies to emerge in the past decade. Its full potential is only now beginning to be realized. This Council will play a leading role exploring how blockchain can be used to improve security on the internet.”
The WEF counducted an internal research about the blockchain since 2015 and this new working group is part of a broader network of Global Agenda Councils, focused on problems such as climate change, AI and cybersecurity.
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