To many, bitcoin is not an effective store of value or unit of account. And it should be easy to reason why…its crazy volatile. Had you pushed your savings into bitcoin late last year, chances are you’re not a happy saver in 2018.
Cryptocurrencies were seeing red early Tuesday, as the global crypto market fell by 10% within 24 hours, from US$218 billion to US$193 billion, as recorded by coinmarketcap.com. Bitcoin was leading the market lower when it dropped to US$6,000 early in yesterday’s trading... Click here.
The last time bitcoin surged by a margin as big as today’s rally was back in 9 April, when the price of BTC scaled from US$6,900 to US$8,000 in as little as 30 minutes. If the past is anything to go by, bitcoin could potentially repeat the same movement and reach...
Crypto is a technology revolution. It’s evolving, improving, expanding and changing. That's why we believe the BIS report on the death knell of bitcoin is wrong.
If crisis hits again, people will flee the traditional system. They'll realise the current system isn’t as safe as they think. They’ll want something else. And crypto will be there, ready, waiting for them.
Charlie Lee, the creator and lead developer of litecoin, has said that he’s sold almost all of his coins. Which comes after the crypto’s rapid gains this year —up 274% in December alone, and 6,894% in the year-to-date.
Last night, bitcoin took another tumble. A single coin now trades for US$16,482. Rather than taking profits, investors were pulling out of bitcoin and jumping into bitcoin cash.
Bitcoin’s cryptocurrency cousin bitcoin cash (BCH), surged 17.9292% this week. Its market cap now stands at $48.88 billion, with a volume of $3.68 million.
Bitcoin cash might be headed to the moon. That is, if yesterday is anything to go by. Since the start of August the bitcoin cash market cap has swelled from 5 billion to the 25 billion.
Now bitcoin, the original, is heading for another fork. This time the spin-off token will be bitcoin gold. When the fork happens, anyone holding their private bitcoin keys will receive the same amount of bitcoin gold — for free.