bitcoin / 367 posts found

Daily Chart – The price of bitcoin has soared to record heights | Graphic detail | The Economist

by crypto journalist
TWELVE YEARS ago, on January 3rd 2009, a headline on the front page of the Times read: “Chancellor on brink of second bail-out for banks”—a reference to the British government’s efforts to save the country’s financial system from collapse. When Satoshi Nakamoto, the mysterious inventor of bitcoin, created the first 50 coins, now called the “genesis block”, he permanently embedded the date and that headline into the data. The hidden text was a digital battle cry. Mr Nakamoto had decided it was time for something new: a decentralised cryptocurrency, free from the control of governments and central banks. Mr Nakamoto […]

Pakistan may legalize Bitcoin trade soon

by crypto journalist
Finance Minister Asad Umar has been given an all-clear sign by Pakistan’s premier intelligence agency to legalize Bitcoin Trade across the country, as reported by Business Recorder. The agency has suggested the ministry to register 5,000 cryptocurrency exchanges and dealers and asked the government to classify those currencies as an “investment” with tax subjected to all the profit gained. The Finance Ministry is also advised to establish a national task force to monitor the flow of transactions through cryptocurrencies and bring the crypto business inside the formal tax regime. The intelligence agency has also shared details about the policy, regulatory […]

A ‘Big Four’ accounting firm is accepting bitcoin payments

by crypto journalist
Bogdan Cristel/Reuters PwC, the accounting firm and consultancy, announced Thursday it is accepting bitcoin payments from its clients. Accounting firms have shown more interest in digital coins than Wall Street banks.  PwC, the consultancy and “Big Four” accounting firm, announced Thursday that it accepted its first payment in bitcoin. The announcement, which was reported first by The Wall Street Journal, was made by Raymund Chao, chairman of PwC Asia-Pacific.  “This decision helps illustrate how we are embracing new technology and incorporating innovative business models across our full range of services,” Chao said in a statement.  Bitcoin, the red-hot cryptocurrency, has dominated […]

Crypto Economy Spikes More Than 11%, Entire Market Cap Captures Over $800 Billion | Market Updates Bitcoin News

by crypto journalist
Crypto Economy Spikes More Than 11%, Entire Market Cap Captures Over $800 Billion Digital currency markets have seen decent gains this weekend as bitcoin touched another all-time high (ATH) on Saturday afternoon. Meanwhile, a number of other crypto assets have seen significant price rises as well, as the entire market capitalization of all 7,500+ digital currencies in existence is hovering above the $800 billion mark. The $800 Billion Crypto Economy This weekend, bitcoin (BTC) spiked to a new all-time high at $33,333 per unit and since then the price has dropped some after the ATH. At the time of publication, […]

Bitcoin just plunged 20 per cent in a matter of hours

by crypto journalist
by Camila Russo, Olga Kharif and Lily Katz Bitcoin has plunged as much as 20 per cent hours after a rally past $US11,000 generated a surge in traffic at online exchanges that led to intermittent outages. The plunge capped a wild day for the largest cryptocurrency that included a breakneck advance to a high of $US11,434 before the reversal took it as low as $US9009. As of 3.36pm in New York, it traded at $US9911.10, virtually unchanged from where it began the session. The heaviest selling came amid reports of service outages and delays on some of the largest online exchanges. The extent […]

3 reasons Bitcoin price is quickly recovering from its ‘severe’ 23% correction

by crypto journalist
The price of Bitcoin (BTC) quickly recovered from around $44,800 to over $50,000 within merely 22 hours.  Behind the rapid recovery are three major factors, including low funding rates, Square’s $170 million Bitcoin purchase, and the spot market stabilizing. Bitcoin futures funding rates substantially drop Across major futures exchanges, including Binance, Bybit and Bitfinex, the funding rate of Bitcoin has dropped to 0.01%. The Bitcoin futures funding rate was consistently above 0.1% throughout the entirety of the rally from the $40,000s to $58,000. When the futures funding rate is high, it means the market is overcrowded with buyers and the […]

Van Eck declares Bitcoin ‘less volatile than many’ stocks

by crypto journalist
On Friday, investment management firm Van Eck released new research indicating that Bitcoin’s price movements are less volatile than between a quarter and a third of the stocks listed on the S&P 500.  In a blog post the German issuer of exchange-traded products said that while Bitcoin has long been considered a “nascent and volatile asset outside of the traditional stock and capital markets,” the reality shows that the world’s largest cryptocurrency trades with volatility comparable to that of some of the largest companies in the world. On a year-to-date basis, 29% of S&P 500 stocks experienced more volatile price […]

Bitcoin price nears $44K as large Coinbase outflows fail to stop the sell-off

by crypto journalist
It seems weak hands are not done selling, and data hints that institutions, as ever, are reaping the benefits. Bitcoin (BTC) hit fresh local lows on Feb. 26 despite what appear to be ongoing largescal institutional buy-ins. New lows despite bullish signs Data from Cointelegraph Markets and TradingView showed BTC/USD $44,150 during Friday trading — last seen two weeks ago — after a rebound to $50,000 fizzled overnight. Bitcoin had seen good news in the form of asset manager Stone Ridge planning to become the first Bitcoin mutual fund, along with major corporate purchases from MicroStrategy and Square. These, however, failed […]

Ethereum’s co-creator predicts a “flippening” with bitcoin in 2018

by crypto journalist
Ethereum co-creator Steven Nerayoff says increased projects built on the cryptocurrency could trigger a “flippening” in 2018, in which ethereum overtakes bitcoin.

Bitcoin Breaks $100 Billion in Value, Soars to Over $6000 for the First Time

by crypto journalist
Welcome to a new kind of currency, or rather, welcome to a new kind of financial system. Today, for the first time ever, Bitcoin surpassed the $6000 barrier, proving that cryptocurrency is, in all likeliness, here to stay. Bitfinex, which has the highest volume BTC/USD exchange, broke the $6,000 barrier initially. Now, the same can be said for all of the other major exchanges. It has only been a little over a week since the price of bitcoin soared passed $5,300, and then it quickly surpassed $5,800. Now, it has surpassed another barrier. Ultimately, this surged caused its market capitalization to exceed $100 billion for […]