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Bitcoin Price Fades After Spike to New Record High

Bitcoin Price Fades After Spike to New Record High

BITCOIN, CURRENT EVENTS, EDUCATION, FINANCE
Please share if you find this article interesting. Bitcoin Price Fades After Spike to New Record High Following yet another record high at the weekend, bitcoin is trading on the back foot today. The world's largest cryptocurrency rose to fresh all-time high of $7,601.39 on Sunday, as per CoinDesk's Bitcoin Price Index (BPI). However, the pop was short-lived, and prices soon fell back below the previous record high of $7,454.05 recorded Nov. 3. Notably, this is the third time in the last week that BTC has failed to hold above $7,400, despite having clocked a new high. So what's stopping the bulls from attacking the $8,000 mark? Though the exact cause is unclear, the following factors could be behind the trader reticence above $7,400. To start with, comments on social media indica...
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Price of Success? Bitcoin Faces New Pressure in a Multi-Coin World

Price of Success? Bitcoin Faces New Pressure in a Multi-Coin World

BITCOIN, CURRENT EVENTS, EDUCATION, FINANCE
Please share if you find this article interesting. Price of Success? Bitcoin Faces New Pressure in a Multi-Coin World "Blockchains are about increasing freedom for individuals and allowing them the flexibility to leave on principle at any point in time." If day one of Scaling Bitcoin showed how bitcoin's technical and academic communities are moving swiftly to capitalize on the network's newly updated code capabilities, day two offered a glimpse of a project emerging, hurdles overcome, into a world that appears more likely to play host to a diverse array of cryptocurrencies. In this way, the final day of this year's conference showcased how, for the event, presenters and attendees, this transition is fraught with concern – as for all the talk of opportunities afforded by new cryp
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Hold the Fork: No 2x But Everything Else Goes at Scaling Bitcoin Event

Hold the Fork: No 2x But Everything Else Goes at Scaling Bitcoin Event

BITCOIN, CURRENT EVENTS, EDUCATION, FINANCE
Please share if you find this article interesting. Hold the Fork: No 2x But Everything Else Goes at Scaling Bitcoin Event "Bitcoin is the currency of enemies." If adversarial thinking like Tadge Dryja's was on display, it's target was relegated to theoretical targets on day one of Scaling Bitcoin Saturday. Held this year at Stanford University, the event's fourth edition, first started to bridge bitcoin's then-scaling crisis, saw noticeably less discussion of issues currently facing the open-source project's roadmap. For example, despite its dominance in the media headlines, a scarce few panels addressed the concept of forks, or suggested at all that competing, bitcoin-based cryptocurrencies may be able to outpace bitcoin in terms of technology or user adoption. Indeed the absenc...
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Bright Futures: Bitcoin Climbs on CME News, But Is $7k in Sight?

Bright Futures: Bitcoin Climbs on CME News, But Is $7k in Sight?

BITCOIN, CURRENT EVENTS, EDUCATION, FINANCE
Please share if you find this article interesting. Bright Futures: Bitcoin Climbs on CME News, But Is $7k in Sight? Bitcoin has once again smashed expectations. The largest cryptocurrency by total value hit record highs on CoinDesk's Bitcoin Price Index (BPI) this morning, with prices reaching $6,600 at 11:00 UTC. At the time of writing, the bitcoin-U.S. dollar (BTC/USD) exchange rate has dropped somewhat to $6,498, but that said, BTC is up 3.76 percent in the last 24 hours. The move follows the news U.S.-based derivatives marketplace operator CME Group plans to offer bitcoin futures later this year, a notable announcement as it perhaps opens new doors for the world's yield-hungry institutional investors. The hunt for return has intensified over the last couple of years, courtesy
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A More User-Friendly Bitcoin Market? OpenBazaar Version 2.0 Is Here

A More User-Friendly Bitcoin Market? OpenBazaar Version 2.0 Is Here

BITCOIN, CURRENT EVENTS, EDUCATION, FINANCE
Please share if you find this article interesting. A More User-Friendly Bitcoin Market? OpenBazaar Version 2.0 Is Here The startup behind OpenBazaar has released version 2.0 of its popular bitcoin-powered marketplace. First launched in 2014, the software update marks a milestone for startup OB1, which bills its product as a decentralized eBay or Shopify for cryptocurrency users. And with an updated design that should make it easier for buyers and sellers to get started, three years later, the company may be closing in on its goal. According to OB1 CEO Brian Hoffman, it's the user experience that's at the heart of this new design. Hoffman told CoinDesk: "We found very quickly that doing things in a decentralized fashion is not always super intuitive for people. You have to to de
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Bitcoin Cash Outlook Improves as Traders Greet New Code Release

Bitcoin Cash Outlook Improves as Traders Greet New Code Release

BITCOIN, CURRENT EVENTS, EDUCATION, FINANCE
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
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Vertcoin Clocks Record High Ahead of Reward Reduction

Vertcoin Clocks Record High Ahead of Reward Reduction

BITCOIN, CURRENT EVENTS, EDUCATION, FINANCE
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
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Bitcoin Cash Rally Stalls as Traders Price in Possible Fork

Bitcoin Cash Rally Stalls as Traders Price in Possible Fork

BITCOIN, CURRENT EVENTS, EDUCATION, FINANCE
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
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Making Noise: Bitcoin Price Looks Higher as Global Volumes Grow

Making Noise: Bitcoin Price Looks Higher as Global Volumes Grow

BITCOIN, CURRENT EVENTS, EDUCATION, FINANCE
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
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Stuck in Limbo? Bitcoin Cash Price Clocks 9-Day High

Stuck in Limbo? Bitcoin Cash Price Clocks 9-Day High

BITCOIN, CURRENT EVENTS, EDUCATION, FINANCE
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...