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

Latest


07 December 2017
Rainbow Six Siege crosses 25 million registered players
This news follows Ubisoft rolling out the latest content expansion for the game , Operation White Noise . The new Rainbow Six Siege season includes the new Mok Myeok Tower map set far above Seoul.

07 December 2017
First F-35 Planes Ready for Combat, IAF Says
After almost a year of testing and training, the IAF has announced that its fleet of F-35 jets is now combat-ready. The American pilots that come to us didn't experience that because they fly there, in Arizona, in Florida.

07 December 2017
Did President Trump slur his speech?
We don't know what's going on, but this is a legitimate issue worthy of consideration. His dentures started falling out and he wouldn't be able to finish a sentence.

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
Two NY Public Radio Hosts Accused of Inappropriate Conduct, Placed on Leave
Lopate helms the popular " Leonard Lopate " show, a daily, two-hour program that focuses on arts and entertainment. The station would not comment on the nature of the accusations.

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
Alexandria Capital LLC Sells 1600 Shares of Thermo Fisher Scientific Inc (TMO)
The stock decreased 0.73% or GBX 25 during the last trading session, reaching GBX 3406. (NYSE: TMO ) for 3,300 shares. Moreover, Crystal Rock Cap Management has 4.49% invested in Mastercard Incorporated (NYSE:MA). (NYSE: TMO ).

07 December 2017
Georges St-Pierre: I Don't Think I'll Return to Middleweight
However, speaking to TSN , St-Pierre has now announced what every fan expected to hear in declaring that he likely never fight again in the middleweight division.

07 December 2017
Tempur Sealy International, Inc. (TPX)'s Stock Is Buy After Today's Significant Increase
The California Public Employees Retirement System holds 128,300 shares with $6.85 million value, up from 121,100 last quarter. The Ontario - Canada-based Burgundy Asset Mngmt Limited has invested 0.53% in Tempur Sealy International , Inc. (NYSE:PM).

07 December 2017
Ford ups investment at Flat Rock, moves EV to Mexico
While campaigning in 2016, Trump repeatedly bashed Ford for its plan to open a small vehicle assembly plant in Mexico. The low-margin electric vehicles ultimately will be cheaper for Ford to build in Mexico.



Recommended