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.
It’s been another strong weekend for cryptocurrencies. Though still trading below all-time highs, the fallout from China ICO ban is now well behind the market.
Steep declines hit the crypto market over the weekend, as rumours of further Chinese crypto crackdowns surfaced.
Golem (GNT) is up 35% over the last 24 hours, as other major cryptocurrency prices have rebounded from steep falls earlier in the week.