Friday, September 22

Tag: Compounding

Bitcoin Price Corrects on China News, But Uptrend Still Intact

Bitcoin Price Corrects on China News, But Uptrend Still Intact

Bitcoin, Breaking News
The cryptocurrency market is a sea of red today, a development skeptics will no doubt quickly use to make the case against bitcoin as a 21st century gold. In times of economic or political stress, investors prefer to hold safe haven assets, and while many experts believe bitcoin is the new safe haven, today's dismal performance contradicts such claims. The cryptocurrency dropped 5 percent over the last 24 hours, even while North Korea's nuclear test and heightened geopolitical tensions pushed up traditional safe haven assets like gold, Japanese Yen. Overall, bitcoin (BTC) clocked an intraday low of $4,253 earlier today, and was trading around $4,335 levels on news China has banned initial coin offerings, one of the main trends powering this year's boom. Still, the price declin...
This Week’s Second Swiss Bitcoin Breakthrough

This Week’s Second Swiss Bitcoin Breakthrough

Bitcoin, Business
A further major Swiss financial institution has begun accepting Bitcoin this week as Swissquote follows Falcon Private Bank. In a press release issued today, Swissquote describes itself as the “first online bank in Europe to offer Bitcoin investing.” The decision opens up Bitcoin investment to the platform’s 302,000 customers with a combined capital of 17.8 bln francs ($17.6 bln). “Many investors are interested in cryptocurrencies, but are afraid to trade them, because the players in this market are mostly little-known and they often require the transfer of funds to a foreign account,” CEO Mark Buerki commented in the release. “As a Swiss bank, we offer our clients a simplified, transparent process, without foreign transfers, that is within reach of everybody.” The news co
Bitcoin could see a 47% correction

Bitcoin could see a 47% correction

Bitcoin, Business
First posted 27th May 2017 One analyst said that the cryptocurrency is close to a key level of $2,800 which could signal a correction ahead. Bitcoin is close to hitting a price that could see a 47 percent correction, according to one analyst, following a huge rally for the cryptocurrency that has led it to record highs. On Thursday, bitcoin hit an all-time high of $2791.70, according to CoinDesk data, marking a 180 percent rally year-to-date. One technical analyst, who looks at historical trading patterns to determine future price moves, told CNBC that the $2,800 could mark a level of resistance where the bitcoin pulls back. Bitcoin was as little as $9 off of that price on Thursday morning.Nicola Duke, an analyst at analysis platform For...