Insufficient Understanding of Cryptocurrencies Results in Their Volatility

Insufficient Understanding of Crypto Currencies Results in Their Volatility

admin Bitcoin Price Index, Cryptocurrencies, Cryptocurrency, In the News, Investments, Investors, Technology, The Future Of Money 0 Comments

Bitcoin made the news in May when it passed the all-time high of $2,700 per unit, before swallowing a sharp correction and losing almost 30 percent of its value in 48 hours. Along the way, many other cryptocurrencies such as Ethereum, Litecoin, Dash, Ripple and Monero have followed Bitcoin in its correction. This scenario naturally leads us to think about the last quarter of 2013, when Bitcoin price jumped from $130 to over $1100. After this boom, we didn’t see a sharp correction, but a long and steady decline to the unit price of $200, followed by a long and steady increase period. Will the same steady decline happen in 2017? The main difference between 2013 and 2017 is that the ecosystem of Blockchain and cryptocurrencies is widely more developed. We went from theories and white papers to proof-of-concept, real world applications and significant investments. Nonetheless, little are those who truly understand the underlying technology powering this ecosystem. An insufficient understanding of the market Investors have been pouring capital into the market, betting that consumer demand will propel future growth. Cryptocurrencies are therefore subject to significant speculation backed by very little analysis, which makes this asset class particularly volatile. David Z. Morris, a contributor …

Explosive Price Surge: $100 Bitcoin Bought in 2010 Now Worth $75 Mln

Explosive Price Surge: $100 Bitcoin Bought in 2010 Now Worth $75 Mln

admin 2017, Bitcoin Awareness, Bitcoin Market Capitalization, Bitcoin News, Bitcoin Predictions for 2017, Bitcoin Price, Bitcoin Price Index, Bitcoin Trading Platforms, CoinGreed, Data Analysis, Exchanges, In the News, Investments, Trending News 0 Comments

Earlier this week, CNBC, one of the few mainstream media outlets that have been offering extensive coverage on Bitcoin over the past few months, revealed that $100 worth of Bitcoin purchased in 2010 is now worth $75 mln. In a relatively short span of seven years, Bitcoin price surged from around $0.003 to a staggering $2,389. That is a 796,000x return as an investment. In fact, today, on May 24, Bitcoin price hit a new all-time high at $2,392 and is continuously demonstrating a rising demand from both casual and institutional investors. Bitcoin price hits new all-time high again for the second time this week at $2,392. Important to note, China made a strong comeback. pic.twitter.com/S8mceNDTqM — Joseph Young (@iamjosephyoung) May 24, 2017 The majority of mainstream media analysts suggest that Bitcoin price is completely speculative in the sense that investors are purchasing Bitcoin solely expecting a massive return in value. However, as Coingreed previously reported, prominent investors including GoldSilver.com founder Mike Maloney are encouraging investors to hold Bitcoin as a mandatory asset to hedge against inevitable global economic uncertainty and financial instability, not just as a large return investment. Bitcoin as digital currency and digital cash On the contrary, …

Bitcoin Market Cap Crosses $14 Bln, All Time High

Bitcoin Market Cap Crosses $14 Bln, All Time High

admin Banking, Bitcoin Price Index, Prices, The Future Of Money, World Politics 0 Comments

The market cap of Bitcoin surpassed the $14 bln margin for the first time in history, breaking its all-time record high previously set in 2014. The surging value of Bitcoin led to extensive mainstream media coverage and social media attraction, with Bitcoin earning a spot on the trending section of social media platforms like Twitter. In the morning of December 22, Bitcoin crossed the $14 bln mark to establish its highest market cap to date. Additionally, Bitcoin officially recorded a 100 percent year-to-date price increase, surpassing the performance of well-performing currencies like the Russian ruble by large margins. View image on Twitter Mainstream media outlets including Reuters, Business Insider and CNBC immediately began to publicize Bitcoin’s most significant milestone in recent years, as Bitcoin continues to surge in value with mainstream speculation and increasing demand from dominant markers such as China. While the price has stalled slightly since its initial surge earlier today, the price of Bitcoin reached $874 at its daily peak, surpassing a six-month high value. An optimistic view towards Bitcoin One of the positive aspects of Bitcoin’s price surge that occurred this week is the optimistic view from the mainstream media and high profile investors. Amid the price …