Please share if you find this article interesting. Bitcoin Cash Outlook Improves as Traders Greet New Code Release The bitcoin cash rally is back on. At press time, the bitcoin cash-U.S. dollar (BCH/USD) exchange rate hit a four-day high of $505.90 on the today's trading, before dipping lower to $487.47. As per CoinMarketCap, the cryptocurrency has witnessed a 9 percent gain in value over the last 24 hours. Possibly driving the rally, Bitcoin ABC – the most widely used version of the bitcoin cash software – released upgrade 0.16.0 today, with changes to come into effect via a hard fork on Nov. 13. Meant to ease economic concerns with its mining network, the code was announced yesterday, to a mixed reaction from investors and enthusiasts. But though the news is positive, a clear l
Please share if you find this article interesting. Vertcoin Clocks Record High Ahead of Reward Reduction Bitcoin isn't the only cryptocurrency trading at all-time highs today. At press time, the vertcoin-U.S. dollar (VTC/USD) exchange rate is $5.55, its highest level ever. Week-on-week, VTC has witnessed a 69 percent appreciation in value, while on a monthly basis, its price has gone up by an astonishing 431 percent. So, what's behind the rally? The boost for the lesser-known crypto appears to be occurring as it closes in on a reduction of its block reward, expected on Dec. 12. The term "block reward" refers to the amount of the cryptocurrency received by miners for creating a block. As a result of a coded halving mechanism, production of new coins will drop from the current leve
Please share if you find this article interesting. Bitcoin Cash Rally Stalls as Traders Price in Possible Fork Bitcoin cash is trending down amid news of an upcoming technical change. After rallying more than 30 percent over the last week, with prices clocking a five-week high of $522.95 on Sunday, the bitcoin cash-US dollar (BCH/USD) exchange rate is $438 at press time, up slightly from a low of $415 yesterday. However, the move isn't without cause, as an attempt to update the project's underlying software appears to have traders slightly spooked. Bitcoin cash developers explained yesterday that they intend to push forward a fix for the code meant to make its mining network more sustainable as soon as Nov. 1. But while those behind the effort sought to position it as sufficientl
Please share if you find this article interesting. Making Noise: Bitcoin Price Looks Higher as Global Volumes Grow Bitcoin's rally is showing no signs of abating. Prices surged to record levels on the CoinDesk Bitcoin Price Index (BPI) yesterday, with the world's largest cryptocurrency clocking a new all-time high of $6,306.58. With the push, bitcoin passed its previous high of $6,183 set on Oct. 21. At press time, the bitcoin-U.S. dollar (BTC/USD) exchange rate is $6,218. As for why the price is trending higher, it seems there was an absence of strong news drivers. However, trading volumes in the BTC/USD pair jumped 103 percent on Sunday – indicating that the rally, fueled by trading activity, looks sustainable. Volumes jumped to two-week highs on Sunday, and remain well below t
Please share if you find this article interesting. Stuck in Limbo? Bitcoin Cash Price Clocks 9-Day High Bitcoin cash price caught a fresh bid wave today, reaching a nine-day high of $373. At press time, the bitcoin cash-U.S. dollar (BCH/USD) exchange rate is trading at $346 levels. The relatively new cryptocurrency has gained 4.12 percent in the last 24 hours, as per CoinMarketCap. Still, the cryptocurrency has been restricted to a narrow range around $330 in the last two weeks, with only occasional spikes above $350. Meanwhile, the downside was capped below $300 levels. However, today's price gains look sustainable as trading volumes are on the rise. Notably, the rally to $350 levels on Thursday was backed by a 54 percent boost in volume, according to CoinMarketCap data. Once a...
Please share if you find this article interesting. Can Blockchain Save Us from the Internet's Original Sin? Michael J. Casey is the chairman of CoinDesk's advisory board and a senior advisor for blockchain research at MIT's Digital Currency Initiative. In this opinion piece, one of a weekly series of columns, Casey looks at how blockchain might free society from the stranglehold of the four giant data hogs of the internet era: Google, Amazon, Facebook and Apple. What's wrong with this picture? The front page of The Wall Street Journal, Tuesday: "Amazon Lures 238 Bids for its Second Home." It's not a good thing that a single company can get the political leaders of so many American cities and states to scramble over each other to try to lure $5 billion in spending on some new b
Please share if you find this article interesting. Bull Exhaustion? Bitcoin Price Halts Advance Ahead of $6,000 After failing to breach $6,000, bitcoin prices have again taken a downturn. At press time, the bitcoin-U.S. dollar (BTC/USD) exchange rate is $5,850, but of greater interest to traders is what this means for the ongoing rally, which has pushed bitcoin up from an Oct. 25 low of $5,376. Prices on the CoinDesk Bitcoin Price Index (BPI) have twice neared the $6,000 mark in the last 24 hours, yet both attempts have stalled. The first attempt ran out of steam at $5,978 yesterday at 13:00 UTC, while a second fell apart at 01:00 UTC today. As of writing, the BPI is down 0.90 percent at $5,834. While the reasons for the exhaustion are unknown, it may simply be the case of the f
Please share if you find this article interesting. Low Volume Lift? Litecoin Prices Rise But Big Leaps Unlikely An upside move in the litecoin market is struggling to gather pace amid low volumes. At press time, the litecoin-US dollar (LTC/USD) exchange rate is $56 across global exchanges. As per CoinMarketCap, the cryptocurrency has gained 2.34 percent in the last 24 hours. Week-on-week, LTC is down 6.69 percent, while on a monthly basis, it's up 5.13 percent. But while perhaps those moves might not qualify as volatile in the cryptocurrency market, it appears litecoin is benefiting from a rotation of funds from bitcoin. A larger trend this week following the launch of bitcoin gold (BTG) trading on exchanges, the move is thus far keeping litecoin prices above the 100-day moving a
Please share if you find this article interesting. Highs on the Radar? Bitcoin Retakes $5,800 as Prices Edge Up Bitcoin is trading on a firmer note today. At press time, the bitcoin-U.S. dollar (BTC/USD) exchange rate is $5,840 across global exchanges. As per CoinMarketCap, the cryptocurrency has witnessed a 6 percent increase in the last 24 hours. After topping out at record highs above $6,100 on earlier this week, bitcoin met a wave of sell offers as investors switched to alternative cryptocurrencies (most likely using fresh funds awarded by exchanges after a new fork). However, while the new bitcoin gold (BTG) saw big declines on its first day of trading, bitcoin (BTC) turned higher from a low of $5,376, indicating fiat money could be entering the BTC market, resulting in high...
Please share if you find this article interesting. Room for More? Bitcoin Cash Defends $300 Amid Competition Is the market big enough for two forked bitcoin currencies? Early indications suggest so, as bitcoin cash is alternating gains with losses by trading in a tight range so far on Wednesday. At press time, the bitcoin cash-US dollar (BCH/USD) exchange rate is $328. As per CoinMarketCap, the cryptocurrency has lost just 2 percent in the last 24 hours. Still, the lack of price movement may be encouraging for supporters. BCH has stubbornly defended the $300 mark even amid the noise surrounding this week's bitcoin hard fork and the creation of another rival project – bitcoin gold – that adopted a same go-to-market strategy. For more than two weeks, dips below $300 have been quick