Welcome to the Crowdify digest of interesting and important news and views about Bitcoin.
A young woman wearing a red “Make Bitcoin Great Again” hat, in the style of popular Trump campaign apparel, was maced in front of television cameras as violent protesters destroyed parts of downtown Berkeley Wednesday night. The events unfolded after a speaking engagement by Breitbart editor Milo Yiannopoulos, who has penned pro-Bitcoin pieces, was cancelled.
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Bitcoin is on track for an eighth straight day of gains as it trades higher by 1.4% at $1,026 per coin as of 7:28 a.m. ET.
The cryptocurrency's winning streak comes amid wild start to 2017. Bitcoin rallied 20% in the opening days of the year, adding to its 120% gain in 2016 that made it the top performing currency for a second straight year. The gains ran bitcoin above the $1,000 level for the first time since November 2013.
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Bitcoin had a great 2016, becoming the world’s top performing currency. However, 2017 so far has been a rollercoaster ride – 20% up, then 35% down, then bouncing back. So what does this year hold? Will Bitcoin go through the roof, or hit the floor?
One factor that’s going to help Bitcoin is the fact that government paper looks ever more shaky. Demonetisation in India and Venezuela told people their bank notes were effectively worthless – making Bitcoin, which doesn’t depend on any individual government, look a better bet. Higher inflation could also lead to more people looking at Bitcoin as an alternative, and more businesses taking Bitcoin as a payment method. There are forecasts that Japan will see as many as 20,000 merchants accepting Bitcoin as payment by the end of the year; even a traditional British pub, the White Lion in Norwich, is taking it. That’s all good for the Bitcoin ecosystem.
Full story at http://bit.ly/2jYx2Ud