Please share if you find this article interesting. 'Segwit2x Rally' Unwinds? Bitcoin Looks Heavy As Fork Boost Fades Bitcoin is feeling the pull of the gravity today. The world's largest cryptocurrency rose to new record highs yesterday, rallying to $7,848.31 on CoinDesk's Bitcoin Price Index (BPI) before falling to a low of $7,058 today. As of writing, the bitcoin-US dollar (BTC/USD) exchange rate is trading at $7,253.50. BTC began losing altitude soon after the markets were alerted that a controversial software update, known as Segwit2x, had officially been suspended. The software, which would have required a fork of the blockchain, had attracted a lot of attention in the media, and rightly so, as it could have led to chain split and the creation of free assets for BTC holders.
Please share if you find this article interesting. Short-Lived Rebound? Bitcoin Struggles to Retake $7,200 Bitcoin traders seem a touch tentative today. At press time, the bitcoin-U.S. dollar (BTC/USD) exchange rate is at $7,200 levels. BTC prices dropped to a four-day low below $6,950 yesterday before regaining poise, although the 5-day moving average (located above $7,200) is proving tough to crack. So has the pullback run out of steam? Comments on social media indicate that, while some traders see the potential for a healthy correction to $6,500, others predict the market is likely to stay volatile ahead of the expected Segwit2x hard fork. The odds seem high that the pullback has legs, given that the sell-off on Monday was backed by a 30 percent surge in volumes. A high-volume
Please share if you find this article interesting. Ethereum Classic Snaps Slump as Price Hits Eight-Week High Ethereum classic rose to eight-week high today – its highest level since Sep. 9. At press time, the fork of the etheruem blockchain is trading at around $15.00. As per CoinMarketCap, the ninth largest cryptocurrency by market capitalization has gained 16.90 percent in the last 24 hours. Week-on-week, ETC is up 38.88 percent, while on a monthly basis, it is carrying 21.68 percent gains. Volume figures show the rally has been in part fueled by Korean exchanges offering trading in ethereum classic to South Korean won (ETC/KRW) pairs. As per CoinMarketCap, trading volumes on Bithumb, one of the largest cryptocurrency exchanges in South Korea, have jumped by 53.52 percent over
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...
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
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...
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
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
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