Tag Archives: growth

Value of Bitcoin: the digital currency’s higher price

The value of bitcoin has grown a lot in the last period, reaching its all-time high set back in 2013.

According to the CoinDesk Bitcoin Price Index, at the moment the value of bitcoin is less than $30 below the maximum ever value of $1,165.89 reached on November 30th, 2013.

This latest rise comes after bitcoin’s longest ever period at over $1,000, and a period of average volatility during the recent few months.

Also, this high might reflect the traders and investors confidence in an industry field that has been recently affected by the Chinese central bank’s plan to restrict the Chinese bitcoin exchanges environment, with the result of several of them to temporarily stop any withdrawals of the digital currency.

 

Click here to better understand what gives Bitcoin value with an infographic.

 

Another possible news to having an influence on the value of Bitcoin is the currently SEC decision on the Winklevoss brothers’ bitcoin ETF – an event that some experts explained that traders are already pricing in a potential approval.

On March 11st we could see the approval of the first bitcoin ETF within the U.S.A. market, opening the virtual currency to a larger group of investors.

However, many experts in the industry cannot see a high propension of financial regulators to approve this move.

For more charts about the Value of Bitcoin in the past, click here.

 

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

Amelia Tomasicchio

5 reasons Bitcoin price is rising

reasons_bitcoin_price_is_growing

Reasons Bitcoin Price is rising

The bitcoin price keeps rising and it is reaching the value of $700, growing more than 20% during the weekend.
Today, in fact, the Bitcoin price is $695, according to Coindesk and it seems it doesn’t want to turn back.
Experts are trying to provide several reasons for this rise, including the Chinese Domain and the halving of miners rewards.
Below you can read the 5 reasons Bitcoin price is rising so fast:

Halving of Rewards

In July it will take place the event of the halving of the miners rewards: the mining process, in fact, will be rewarded 12.5 BTC per block, instead of the previous amount of 25 BTC.
This process called halving is aimed at preventing a digital currency inflation by reducing the amount of new currency created over time, until it reaches it maximum amount of 21 million bitcoin ever created.

More interests in the Blockchain

Another reason could be the growing interest in the Blockchain by several worldwide companies such as Microsoft, IBM and more.
As the interest in the different applications of the distributed ledger is growing, more and more people start to approach bitcoin too.

Chinese Domain

As we tried to explain into this blog post, one of the possible reasons of the rise of the Bitcoin Price is the increase of the Chinese domain.
In fact, its price in CNY on the local exchange is growing up quickly, reaching more than the current bitcoin price.
Joe Lee, founder at the trading platform called Magnr, explained:
“Capital flight continues as the IMF (International Monetary Fund) is now signalling warnings at the increasing default risk against China’s corporate debt. China’s economy is changing rapidly and debt fueled growth can only be sustained for so long.”

FIAT Currencies Flow

Another reason why the Bitcoin price is growing could be a fiat currencies flow.
This is the point of view of Chris Burniske, who explained:
“What this implies to me is we have lots of new fiat money flowing into bitcoin, and bitcoin’s price action is not being driven by people swapping out of ether, which we’ve often seen before.”

UK out of Europe

Other bitcoin experts explained that another possible reason could be the fear that the UK could leave the UE.
A recent survey showed that 52% want this split, while 33% prefer that it remains.
This is the same thing happened when it appeared that Greece would leave the European Union: for this reason the bitcoin price hit about $300.

Universal Wallet

If you have to different cryptocurrencies such as Bitcoin, Ethereum, Dogecoin, etc., you need to have different wallets, which is difficult to handle.
This is why HolyTransaction create an Universal wallet where you can store all your digital currencies within a single account.
So, do you want to store Bitcoin and other cryptocurrencies?

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

Amelia Tomasicchio

Ethereum is bigger than ever

During the past months cryptocurrency Ethereum was growing fast, increasing its value and consequently its own popularity.
Today the Ethereum price is about $9 (0.022 BTC) and it undergone very few changes with an almost always upward price.
Just in the last day Ethereum raised its market capitalization by 26%, reaching almost $730 million, representing more than 10% of Bitcoin’s market cap.
This behaviour is truly important as Ethereum is proving to be much louder than the other altcoins, reaching the market capitalization of all the other altcoinsll together, excluding bitcoin.

Microsoft Corporation certified Ethereum

Some days ago a startup who provides Ethereum softwares, BlockApps became the first certified company on Microsoft Azure’s Blockchain-as-a-Service (BaaS).
Director of Blockchain strategy at Microsoft Corporation, Marley Gray, commented:
“The simple, rapid and flexible one-click deploy of Ethereum blockchain architecture launched on the Microsoft Azure Marketplace enables enterprises and developers to quickly deploy a certified blockchain environment on Azure.”

But, what is Ethereum?

Created in 2013 by Vitalik Buterin, Ethereum is a cryptocurrency and a blockchain platform who provides decentralized services.
  At the moment Ethereum is in the so-called Homestead phase, the second of the six phases of its rollout that they company planned. The other phases will be “Metropolis (Mist release), Serenity (proof of stake Casper plus abstraction, aka Ethereum 1.5), Ethereum 2.0 and Ethereum 3.0 that will focus on scalability”, commented Buterin during a recent interview conducted by Bitcoin.com.
Thanks to Homestead, said Buterin, “the risk of using the Ethereum platform is now substantially reduced”.

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

Amelia Tomasicchio