Sunday, August 13, 2017

Bitcoin price breaks $4,000. Here’s why

https://bitcoin-guru.blogspot.com/2017/08/bitcoin-price-breaks-4000-heres-why.html
Bitcoin's skyrocketing price is displaying no signs of delaying. It's currently trading for over $4, 100 a coin, having broken the $4, 000 mark in the early hours of Aug. 13. It has traded for as high as $4, 225, in line with the CoinDesk Bitcoin Price Index. A prediction of $5, 000 per bitcoin by years' end, issued by Standpoint Research's Ronnie Moas in July, now does not seem to be so outlandish.

The co-author of a future book on valuing bitcoin and other cryptocurrencies, Philip Burniske, has pointed away that you will find a strong connection between bitcoin's price and the performance of the search term "bitcoin" on Google, as calculated by Google Trends. It's not really a perfect indicator: Google Tendencies sometimes lags and sometimes leads bitcoin' price.

That survived a contentious "hard fork" that saw the cryptocurrency split in two, spawning a new digital currency called "bitcoin cash. " While bitcoin's value has continued to rise, bitcoin cash has floundered.
https://bitcoin-guru.blogspot.com/2017/08/bitcoin-price-breaks-4000-heres-why.html

It's acting as a disaster hedge, much like gold, as global geopolitical tensions are ratcheting up. The US and North Korea are currently interested in verbal jousting, with both sides issuing hazards.

Institutional investors are filling up to get into the cryptocurrency markets. Forbes counted 15 new hedge funds poised to start this year. Many hedge funds are in the pipeline, according to company newsletter Hedge Fund Alert(pdf). One partner in an accounting firm said the eye from clients has been "just crazy. inch

Bitcoin continues to go mainstream. Earlier this week mutual funds giant Faithfulness released a feature which allows its customers to view their bitcoin, ethereum, or litecoin holdings from within their Fidelity account. Myspace and Square co-founder Jack port Dorsey in addition has talked up bitcoin's potential as the "the latest unlock" this week.

Bitcoin analyst Burniske has a word of warning for folks piling into bitcoin: The correction could be severe.

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