BTC broke the $12,000 level earlier today, and has continued surging to trade at $13,252 at press time. The leading coin has gained over 16% on the day. Today, Bitcoin’s market dominance climbed to over 60% for the first time since April 2017.
Bitcoin’s recent rally has caused a stir in the crypto community, wherein some of its players have made predictions on its further price dynamics. Today, eToro analyst Simon Peters claimed that BTC prices could match their all-time high of $20,000 within the next two weeks — and could hit $50,000 or $100,000 by the end of the year….CLICK for complete article
Bitcoin has been doing very well in 2019, as the cryptocurrency has already more than doubled from around US$4,000 at the start of the year to Monday getting close to US$11,000. It’s a big recovery. Many people thought that Bitcoin was dead after crashing in 2018 after peaking at around US$20,000 in late 2017. Concerns about safety and security have had disastrous impacts on the adoption of the digital currency, especially with companies banning it and making it hard for prospective investors to learn about it.
However, since mysteriously receiving a big order this year, it’s been gaining traction and made a good recovery. While it still has a long way to go to getting back to its previous highs, there’s definitely interest in crypto again, and it’s even more impressive now that it has been able to rise given the obstacles that Bitcoin still faces today….CLICK for complete article
Today Facebook announced Libra, its forthcoming stablecoin designed to let you shop and send money overseas with almost zero transaction fees. Immediately, critics started harping about the dangers of centralizing control of tomorrow’s money in the hands of a company with a poor track record of privacy and security.
Facebook anticipated this, though, and created a subsidiary called Calibra to run its crypto dealings and keep all transaction data separate from your social data. Facebook shares control of Libra with 27 other Libra Association founding members, and as many as 100 total when the token launches in the first half of 2020. Each member gets just one vote on the Libra council, so Facebook can’t hijack the token’s governance even though it invented it….CLICK for complete article
As Cointelegraph reported earlier today, JPMorgan Chase thinks the Bitcoin industry has changed considerably since 2017, citing an increase in institutional interest and the high volume of bitcoin futures transactions….CLICK for complete article
The current outlook for the cryptocurrency market has been downgraded from mildly bullish to uncertain, SFOX’s latest volatility report concluded on June 6.
While the report acknowledged that crypto prices recovered substantially last month, the authors described overall sentiment is at a tipping point — and warned it was unclear how much of the growth is due to FOMO (fear of missing out)….CLICK for complete article
Bitcoin, which lost three-quarters of its value in 2018, has soared by 24% since Friday and more than doubled in price so far this year. At 1612 GMT it was up 0.8% at 7,874. There was no obvious reason for the sudden rise with the opacity of cryptocurrency markets rendering it virtually impossible to prove or disprove any theories. Some traders said investors moved money to bitcoin, treating it as a safe haven as traditional financial markets stumbled on fears that a worsening Sino-U.S. trade dispute could derail the global economy. But none of the four traders that Reuters spoke to could produce evidence to support that claim….CLICK for complete article