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Highs on the Radar? Bitcoin Retakes $5,800 as Prices Edge Up

Highs on the Radar? Bitcoin Retakes $5,800 as Prices Edge Up

BITCOIN, CURRENT EVENTS, EDUCATION, FINANCE
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...
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Room for More? Bitcoin Cash Defends $300 Amid Competition

Room for More? Bitcoin Cash Defends $300 Amid Competition

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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
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Back Above $5,500: Bitcoin Shrugs Off Fork with Price Rebound

Back Above $5,500: Bitcoin Shrugs Off Fork with Price Rebound

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Please share if you find this article interesting. Back Above $5,500: Bitcoin Shrugs Off Fork with Price Rebound Bitcoin is gathering fresh upside traction this Wednesday. At press time, the bitcoin-US dollar (BTC/USD) exchange rate is $5,540, up 3 percent from the intraday low of $5,376, but still down 2 percent on a daily basis. Week-on-week, BTC is trading largely unchanged, while on a monthly basis, it is up 41 percent. But, it's perhaps the daily recovery that is most notable. While slight, it can be read as encouraging as it follows the news that bitcoin gold, a new publicly traded copy of the bitcoin network was made available to investors on exchanges yesterday. While the asset is not yet issued by developers, many exchanges made IOU versions of BTG available, putting sel
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Bitcoin Price Falls to 5-Day Low Following Fork Currency Creation

Bitcoin Price Falls to 5-Day Low Following Fork Currency Creation

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Please share if you find this article interesting. Bitcoin Price Falls to 5-Day Low Following Fork Currency Creation The price of bitcoin fell to a five-day low today, though the reasons why are perhaps complex to unpack. At press time, the bitcoin-US dollar (BTC/USD) exchange rate is $5,710, up from a daily low of $5,560. As per CoinMarketCap, week-on-week, BTC is up 3.3 percent, while on a monthly basis, it's up 55 percent. However, if you're looking for a culprit for the dip, industry observers are so far pointing to the creation of bitcoin gold yesterday. A new cryptocurrency cloned from bitcoin, bitcoin gold is now in the process of "forking" to a new blockchain (with new rules), a process by which the bitcoin blockchain is copied and new digital assets are distributed to ex
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Upside Ahead? Stellar Rally Fizzles But Lumen Could Regain Luster

Upside Ahead? Stellar Rally Fizzles But Lumen Could Regain Luster

BITCOIN, CURRENT EVENTS, EDUCATION, FINANCE
Please share if you find this article interesting. Upside Ahead? Stellar Rally Fizzles But Lumen Could Regain Luster The price of Stellar's lumen cryptocurrency is fast fading. After rising to $0.05 last week, the value of the native token that runs the Stellar protocol is down 36 percent from that recent high today. At press time, the stellar-US dollar (XLM/USD) exchange rate is $0.033. Week-on-week, XLM is down 8.33 percent, while on a monthly basis, it is up 177 percent. The decline follows XLN's rally of more than 100 percent on Oct. 16 after news hit the wires that IBM and Stellar were testing the cryptocurrency for cross-border payments. Currently, the project is designed to handle South Pacific currencies – Australian dollar, the New Zealand dollar and the Tonga pa'anga. T
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Prepping for a Pullback? Bitcoin Price Drops Below $6,000

Prepping for a Pullback? Bitcoin Price Drops Below $6,000

BITCOIN, CURRENT EVENTS, EDUCATION, FINANCE
Please share if you find this article interesting. Prepping for a Pullback? Bitcoin Price Drops Below $6,000 After rallying to a new record high, bitcoin is once again trending down. According to Coindesk's Bitcoin Price Index (BPI), bitcoin prices dipped below $5,800 this morning – prices first passed the $6,000 mark on Friday and set the new all-time high (of $6,148) at 15:00 UTC on Saturday. That figure takes the cumulative returns from the September low of $2,980 to more than 100 percent. The record rally indicates that the regulatory crackdown in China, and subsequent fears of similar restrictions across the globe, have failed to dampen investor sentiment. Meanwhile, the potential benefits of holding bitcoin ahead of another hard fork (in November) – which promises the creat
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Dilbert Comic Strips Lampoon Blockchain and Initial Coin Offerings

Dilbert Comic Strips Lampoon Blockchain and Initial Coin Offerings

BITCOIN, CURRENT EVENTS, EDUCATION, FINANCE
With the enterprise business world moving closer to launching blockchain-based products and services, it's no surprise that the popular comic Dilbert would tackle the subject. In the past week, comic artist Scott Adams has put out two strips related to blockchain, including one wherein the eponymous Dilbert floats the idea of launching an initial coin offering (ICO). After Dilbert lays out the basic gist of the use case – through which funds are raised via the sale of cryptographic tokens issued on a blockchain – his boss gets lost in the minutiae of the model. A day later, the comic strip featured another segment related to blockchain, this time referring to the marketing hurdles of explaining what is still a niche technology application. The topic of cryptocurrency itself has been rai
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Bitcoin Breather? Higher Price Push Still Possible on Search Demand

Bitcoin Breather? Higher Price Push Still Possible on Search Demand

BITCOIN, CURRENT EVENTS, EDUCATION, FINANCE
The price of bitcoin may have hit a new all-time high above $6,000 today, but it's already showing signs it may be primed to push higher. At press time, the bitcoin-US dollar (BTC/USD) exchange rate was roughly $5,950, down slightly from the day's high, but up 9 percent on the week amidst what proved to be strong demand for bitcoin in the $5,000-to-$5,500 range. Week-on-week, bitcoin is up 9 percent, while on a monthly basis, it is up a staggering 53.66%. Looking ahead, however, at least two underlying trends suggest it may trace higher in the days or weeks ahead. Search volumes rise On the back of the all-time high, Google search volume has notably shot up in the last 4 hours. Long an indicator of potential buying (the internet-based asset is bought online mostly after all), this trend s
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Ether Prices Hold Above $300 as Fork Fears Fade

Ether Prices Hold Above $300 as Fork Fears Fade

BITCOIN, CURRENT EVENTS, EDUCATION, FINANCE
Ether prices continue to hold strong despite technical headwinds. At press time, the ether-US dollar (ETH/USD) exchange rate is roughly $305, up from a low of $287 in the wake of a recent software upgrade. And while the price may be down from a peak of $350 in the run-up to the release, the relative price stability may be impressive due to the supposedly shaky state of the code. Of note is that ethereum's new blockchain has still yet to be deemed stable by its developer team. Ethereum founder Vitalik Buterin informed markets this week that one or two months of further testing may be required before it can be declared as fully secure. Still, as the blockchain continues to run without issue, concerns about the possibility of a harmful security bug in the new code appear to be fading. As per
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Cautiously Bullish? $6,000 in Play as Bitcoin Price Stages Sharp Recovery

Cautiously Bullish? $6,000 in Play as Bitcoin Price Stages Sharp Recovery

BITCOIN, CURRENT EVENTS, EDUCATION, FINANCE
Having witnessed a solid recovery from the low of $5,100 in the last 24 hours, bitcoin is once again trading on the front foot and looking northwards. At press time, the bitcoin-US dollar (BTC/USD) exchange rate was roughly $5,700. As per CoinMarketCap, the cryptocurrency has gained 6.47 percent in the last 24 hours. Week-on-week, BTC is up 4.77 percent, and on a monthly basis, it is carrying 45.7 percent gains. So, is the bitcoin price eyeing $6,000? Strong dip demand would seem to suggest so. The drop to $5,100 witnessed yesterday turned out to be healthy correction as expected, and the subsequent 'V' shaped recovery could be taken as an indication cash is waiting on the sidelines for a good opportunity. Further, the potential (or perceived) benefits of holding bitcoin ahead of the hard