Economy

Bitcoin pops above $15000 for the first time

Bitcoin pops above $15000 for the first time”

Bitcoin climbed as much as 7.9 per cent on Thursday as it surged above US$14,000, extending this month's advance to more than 40 per cent. For many people, the easiest way to acquire these alternative cryptocurrencies is to first buy some bitcoins from a bitcoin exchange, then trade those bitcoins for another currency. As I write this at about 11 AM Central Time the price of bitcoin is $12,619 only slightly down from its recent high. While critics fear there's a bubble in the making, the currency continues to rise in value. Others - mostly those working for said banks - claim that it will crash and burn.

Prices have been boosted after CBOE Global markets said it will launch trading in in the cryptocurrency from December 10 after receiving a green light from the Commodity Futures Trading Commission.

Bitcoin's rapid rise this year has been powered in part by expectations that established fund managers are set to start pouring money into the virtual currency as it gains legitimacy.

"The government doesn't consider cryptocurrencies as money or financial products".

Based on speculation alone, experts suggested value was positively impacted by the news.

For years, bitcoin has been the primary method of paying for illicit goods on the so-called dark web.

This triumph is particularly sweet for long-term bitcoin investors, who have been the subject of derision from JPMorgan CEO Jamie Dimon for years.

That question has become a topic of intense debate for those operating in the financial services industry.

This comes after New York Private Schools and a London Developer moved to accept Bitcoin for fees and deposits, as the decentralised currency moves towards mainstream acceptance.

Yet, as previously noted, others disagree. "This is a unsafe speculative bubble by any shadow or stretch of the imagination". The good thing about Bitcoins however, is that all Bitcoin transaction data is transparent, meaning that is can be seen on a blockchain, no matter how many transactions have taken place. "Like all bubbles, they burst".



Like this

loading...
loading...

Latest


07 December 2017
Foot Locker (FL) PT Set at $61.00 by Jefferies Group
Wedbush restated their outperform rating on shares of Foot Locker (NYSE:FL) in a report published on Monday, November 20th. This is calculated by taking weekly log normal returns and standard deviation of the share price over one year annualized.

07 December 2017
See expected snow totals in Friday's Winter Weather Advisory
We are under a Winter Weather Advisory for portions of central, east-central and west-central Alabama. Also like Wednesday, most of the wet weather will be over the southern half of Alabama.

07 December 2017
At Delhi International Film Festival Vinod Khanna, Om Puri paid homage
Internationally acclaimed Australian actress and two-time Oscar victor Cate Blanchett added a touch of glamour to the festival. Egyptian screenwriter Wahid Hamed was given a standing ovation for his contribution to the field of cinema.

07 December 2017
Meridian Waste Solutions Inc (MRDN): SuperTrend Above Stock Price
MRDN indicated a yearly declining performance of -87.70% while year-to-date (YTD) performance printed -88.11% discounted outlook. Watching the signals on shares of Meridian Waste Solutions Inc ( MRDN ), we note that the PPO is now below the signal line.

07 December 2017
Woman accused in PATH stabbing found unfit to stand trial
Bisesar will be transferred to CAMH as soon as space opens up there, likely within the next two weeks, McMahon said. Rohinie Bisesar is unfit to stand trial for the first-degree murder of Rosemarie Junor, a Toronto jury has decided.

07 December 2017
Georgia coach Kirby Smart named SEC Coach of the Year
In addition, second-year Bulldog head coach Kirby Smart was named the SEC Coach of the Year by the AP voters. The Tigers moved 75 yards in 10 plays, capped by Jarrett Stidham's 6-yard scoring pass to Nate Craig-Myers.

07 December 2017
No. 2 Kansas handed first defeat of season by Washington
That's what that zone does to you sometimes. "Other teams aren't used to it, so they get confused and kind of thrown off. After the game KU Coach Bill Self said the Huskies deserved to win adding, "they were quicker, bigger, and tougher". ".

07 December 2017
Natural disaster measuring 5.1 jolts J&K
The tremor is considered moderate, India Meteorological Department told IANS . The epicentre may have been located some 111 km north east of Thang.

07 December 2017
Super Mario Run the most popular iOS game of 2017
In the US, Calm has emerged as the iPhone app of the year, while Affinity Photo has surfaced as the iPad app of the year. Talking about the top apps, Apple has named Calm , a meditation and sleep app, as the app of the year for the iPhone.

07 December 2017
Recent Analysts Ratings Hecla Mining Co. (HL)
Hecla Mining Company (HL ) now has 399020 shares outstanding, which means that its market capitalization is $1.46B. Hecla Mining Company is engaged in discovering, acquiring, developing and producing silver, gold, lead and zinc.