Please share if you find this article interesting. Bull Market Breather? Bitcoin Retreats After Run on $20k Bitcoin is trading on the back foot today following the bullish debut of futures on the CME. Having clocked a new all-time high of $19,783 at 12:14 GMT yesterday, CoinDesk's Bitcoin Price Index (BPI) is trading at $19,178. Further, data source CoinMarketCap shows bitcoin (BTC) has depreciated by 2.77 percent in the last 24 hours. And that remains the state of play after bitcoin crossed the $20,000 mark on Asian exchanges yesterday, but failed to follow suit on major Western exchanges. On Coinbase's GDAX exchange, for instance, bitcoin rose to a record $19,891 before falling to a low of $18,200 and recovering in line with the BPI. As such, it remains to be seen whether the l
Please share if you find this article interesting. Bought Your First Bitcoin or Ether? Brace for the Fees I sent $25 of Bitcoin from one address (in Coinbase) to another (Kraken). - $25 sent- $16 fee- $41 total 40% of the total transaction in fees. unbelievable — Kristian Freeman (@imkmf) December 8, 2017 Ready to send your first bitcoin? That will be $26 please... Sure, that's on the high end of what you might pay to use the bitcoin blockchain today, but if you're new to the world of cryptocurrencies (and haven't invested that much), we understand seeing such a sky-high sum might be a shock. (Sorry, Kristian!) Despite what you might have heard about the "money of the future," the fact is bitcoin (and other cryptocurrencies) are both expensive – and experimental – today. But
Please share if you find this article interesting. Where Have All the Private Blockchains Gone? Dr. Gideon Greenspan is the founder and CEO of Coin Sciences, the company behind the MultiChain platform for private blockchains. The following article is an exclusive contribution to CoinDesk's 2017 in Review. The past six months have seen a great deal of excitement in the crypto space – bitcoin passed $10,000, billions were raised in ICOs and mainstream financial institutions like CME Group and CBOE launched cryptocurrency-based derivatives. This is all a far cry from this time last year when bitcoin was languishing at $400 and the total market cap of the entire space was $15 billion, less than 5% of today’s figure. So, what were we talking about in December 2016 then? The answer,
Please share if you find this article interesting. CME Bitcoin Futures Price Above $20k in First Day Trading CME Group's long-awaited bitcoin futures began trading today with a bullish signal, as the sale price for its Jan. 18 contracts opened above $20,000. Coming months after the Chicago-based derivatives exchange operator first revealed plans for dedicated bitcoin offerings, the launch took place at 6 p.m EST. At that time, the opening price for the January contract was $20,650, $1,150 over the last price on CME's reference rate ($19,500). All told, more than 200 Jan. 2018 contracts were bought during the first hour, CME data reveals. The operator's site shows that one Feb. 2018 contract and one March 2018 contract were sold, along with two scheduled to expire in June. Prices
Please share if you find this article interesting. 2018: The Year Central Banks Begin Buying Cryptocurrency Eugene Etsebeth is a former central banker with the South African Reserve Bank. There, he notably chaired the virtual currency and distributed ledger working group. The following article is an exclusive contribution to CoinDesk's 2017 in Review. Behind closed doors, G7 central banks are sluggish traders that buy and sell the same foreign currencies, marketable securities, special drawing rights (SDR) and gold day in and day out. Central bank traders follow the investment policy enforced by the executive committees with specific asset allocation targets. In order of importance, the objective for foreign reserves trading generally is liquidity, security and returns (in last
Please share if you find this article interesting. Sell the News? Bitcoin Price to Test $20k Ahead of CME Launch The upside move in bitcoin has gathered traction this weekend as investors brace up for BTC futures launch by the CME. As per CoinDesk's Bitcoin Price Index (BPI), the world's largest cryptocurrency by market capitalization rose to a new all-time high of $19,783.06 at 12:14 UTC today. Bitcoin (BTC) has appreciated by 10 percent in the last 24 hours as per the data source CoinMarketCap. A year ago, it traded below $1,000. The move towards $20,000 is in line with the bull flag breakout discussed last week. Prices moved above $16,000 in a convincing manner after the CBOE launched the first BTC futures contract at 23:00 GMT last Sunday. The CME is set to launch its own ver...
Please share if you find this article interesting. A Hitchhiker's Guide to the Blockchain Highway A video blogger and content creator better known as "Mike in Space," (@mikeinspace) is the writer-director of the "Bitcoin Car Talk" YouTube series. The following article is an exclusive contribution to CoinDesk's 2017 in Review. Hello, Bitcoiner – Go ahead and help yourself into the back of the car. Don't mind the mess, just push that stuff over, and make yourself comfortable. You hungry? I’ve got an extra steak cooking on the engine block. It should be ready any minute now! I should tell you, I don't usually pick up hitchhikers, but, well you look like you could use some help. A lot of people come through this car. You can see bits and pieces of what they've left behind in the ba
Please share if you find this article interesting. $20k Bitcoin? Not Yet As Changing Charts Favor Crypto Rivals Bitcoin is on the rise against the U.S. dollar, but a look at all of its relevant trading pairs (LTC/BTC, ETH/BTC) suggests the move to $20,000 could take longer than expected. The world's largest cryptocurrency by market capitalization has traded more or less sideways over the last few days as the alternative currencies rallied sharply to new highs. But, as discussed yesterday, the lackluster action in BTC could be due to the rotation of money from BTC (large cap) and into alternative currencies (or so-called 'small caps'). This flow of money is best represented by the bullish break seen in cross cryptocurrency charts – i.e. ETH/BTC, LTC/BTC, BCH/BTC and XRP/BTC. For e
Please share if you find this article interesting. Corporate Blockchain Brain Drain Is About More Than Money Sandra Ro is managing partner and COO at startup UWINCorp and a former head of digitization for U.S. derivatives giant CME Group, where she spearheaded blockchain and cryptocurrency efforts. The following article is an exclusive contribution to CoinDesk's 2017 in Review. "When morality comes up against profit, it is seldom that profit loses." — Congresswoman Shirley Chisholm, first African-American Congresswoman elected in 1968. Bitcoin at all-time highs, blockchain conferences multiplying like CryptoKitties. Things are certainly changing. But, some things aren't exactly keeping up with the times. During the last 50 years, humanity has made great leaps and strides in tec
Please share if you find this article interesting. More to Come? Bitcoin Sets Record High Near $18k Having successfully defended $16,000 earlier this week, bitcoin regained bid tone today and clocked a fresh record valuation above $17,800. The cryptocurrency rose to a new lifetime high of $17,801.94 at 10:30 UTC, erasing the previous record high of $17,631.42 set on Dec. 12, as per CoinDesk's Bitcoin Price Index (BPI). Bitcoin (BTC) has spent a better part of the last week trading sideways amid sharp gains in alternative cryptocurrencies, falling to $16,000 at points, before rising 8 percent in the last 24 hours. Still, the repeated rebounds from $16,000 levels are likely evidence of a strong "buy the dip" mentality among traders. That said, the price chart analysis shows that bi...