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Price tripled in 1 year: why you should hold bitcoin
Bitcoin price is nearing its all-time high price of $1,277, maybe because of the impressive growth within the Japanese bitcoin industry. Read here why you should hold bitcoin.
Experts argue that bitcoin price will increase consistently in the mid-term if Japan and the US sustain their growth and if small markets such as India will decide for a massive change related to bitcoin regulation.
Bitcoin price drove by India and Japan
India has always been considered the more important Bitcoin markets because of its poor banking system.
Right now, in fact, 40% of India population can be defined as “underbanked“.
The greatest part of people in India cannot rely on banks and financial institutions to manage their funds.
Recently, the demonetization of 500 and 1,000 bank notes decided by the Indian government led to a national financial crisis, as banks and ATMs ran out of cash to dispense, so Indian citizens cannot obtain cash for their daily basic needs.
Also, PwC explained that 233 mln Indians didn’t have any access to bank accounts since October of 2015 and 43% of adults in India made no deposits or withdrawals in any banks or financial institutions.
Bitcoin hold: why?
Bitcoin exchanges in India – such as Zebpay and Unocoin – began to see a huge growth in their user base and trading volumes.
One key factor that would allow the Indian Bitcoin industry to grow at a rapid rate similar to China, South Korea and Japan is the legalization of Bitcoin.
Bitcoin regulation in India should arrive this summer, according to recent press releases.
This way millions of new users would emerge, and Bitcoin price will rise in the mid-term.
That’s why you should hold bitcoin and store them in a safe place.
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Blockchain investments: all the fintech services in one infographic
From American Express to Goldman Sachs and Deloitte, a lots of financial firms decided to make blockchain investments.
To provide you a insightful and easy to read, we want to share with you the following infographic originally published by CB Insight.
Consortia are not included in this infographic.
Even if the quarterly deal activity reached its lowest point since Q2’14 in Q4’16, the quarter’s top two financing deals featured investments by the most important financial companies.
This way, Axoni saw Wells Fargo lead its $18M Series A, which included a few important investors such as JP Morgan, Goldman Sachs, F-Prime Capital and Thomson Reuters.
During the last 3 years, blockchain investments reached their apex in the fall of 2015 and in the winter of 2016.
Recently, Deloitte, Miami International Holdings (MIAX) and Credit China placed their first blockchain investment and Deloitte took a corporate minority stake in a platform called SETL.
In total, more than 50 financial companies decided to invest in a bitcoin or blockchain-related startups since the beginning of 2014.
Also, it is important to note that a small group of blockchain startups received the greatest part of the total investment. Those – who have received nearly $625M in funding – include: Ripple, BitFury Group, Blockstream, Digital Asset Holdings, and Chain.
Let’s see what happen in 2017 and stay tuned for more relevant news!
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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.
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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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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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5 reasons Bitcoin price is rising
Reasons Bitcoin Price is rising
Halving of Rewards
More interests in the Blockchain
Chinese Domain
FIAT Currencies Flow
UK out of Europe
Universal Wallet
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Bitcoin rise driven by Chinese domain
Why is this happening?
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