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Thursday, September 28, 2017

Cryptocurrency News for 28 Sep 2017


Bitcoin Price Surges to $4,115: Analysts See $5,000 Ahead

Bitcoin Price Surges to $4,115: Analysts See $5,000 Ahead


Earlier today, on September 27, the bitcoin price recorded a five percent gain within a 24-hour period, increasing from $3,930 to $4,115.

Bitcoin analysts and long-time traders including Tone Vays and Squeeze have reaffirmed their short-term interim targets of $5,000. Squeeze further emphasized that if the current upward momentum of bitcoin can be sustained over the next few days, it is likely that bitcoin will achieve a new all-time high price in the region of $6,000 within the next month.

Tuur Demeester, another prominent bitcoin trader and investor, also noted that the bitcoin price is breaking its resistance level and if trading volume in South Korea, Japan, Europe and the US hold up, a strong rally in the near future could be expected.

Full story at http://bit.ly/2fSaEaM

Source: CryptoCoinsNews

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This Latin American Country Could Adopt Bitcoin as an Official Currency


In order to deal with ever-growing issues with hyperinflation, the country of Venezuela may soon decide to adopt a new currency: Bitcoin.

As explained by CoinTelegraph, Bitcoin has been the subject of a massive amount of mining and purchasing over the last few months, leading to a number of rumors regarding the country’s desire to incorporate it into their financial structure.

According to Daniel Osorio, from Andean Capital Advisors, Venezuela may be on the verge of forgoing their Bolivar currency. During an interview last week, he told CNBC“we may well be witnessing the first ‘Bitcoinization’ of a sovereign state.”

Osorio went on to explain that Venezuela is more than a week behind on a substantial bond interest payment. At present, it doesn’t have the money to address it or manage the economy. A simple lunch can now cost up to 200,000 Bolivars ($8-$10) prompting people to resort to using Bitcoin or money wires of other foreign currency. Bitcoin is appealing because it’s independent of the black market and tied to a fixed exchange platform, making it difficult to exploit.

Full story at http://bit.ly/2fSaznu

Source: Futurism

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European Central Bank President: No Power to Regulate Bitcoin

European Central Bank President: No Power to Regulate Bitcoin


Mario Draghi, the erstwhile president of the European Central Bank (ECB) made some startling comments during his presentation today at the Hearing of the Committee on Economic and Monetary Affairs.

When asked about cryptocurrency regulations or bans, similar to the political decisions the Chinese central government has enforced, Draghi made it clear that there is no way to ban Bitcoin, or to even regulate it, saying:

“It would actually not be in our powers to prohibit and regulate them. We have to ask what effects cryptocurrencies have on the economy.”

He added that they are still far too immature to be considered a viable payment methodology - a conclusion that was reached by the ECB in tandem with the Central Bank of Japan last week.

Full story at http://bit.ly/2yFqehX

Source: CoinTelegraph

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Back Above $4,000: Bitcoin Price Eyes Next Major Upside Hurdle

Back Above $4,000: Bitcoin Price Eyes Next Major Upside Hurdle


Having successfully defended the key rising trend line support over the last few days, the bitcoin-US dollar (BTC/USD) exchange rate is well bid above the $4,000 mark today.

At press time, the cryptocurrency that powers the world's largest blockchain is trading at $4,070, up 3% on the day. On a monthly basis, though, it is still nursing 6% loss.

With the positive price action, investors appear to also be turning a blind eye toward news out of China that indicates at least one major domestic bitcoin exchange has followed through on apparent orders from regulators to stop yuan trading.

"All customers will be able to withdraw all their funds from our exchanges within 72 hours," BTCC said in a statement.

Full story at http://bit.ly/2yGkep0

Source: CoinDesk

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Buying Bitcoin And Crypto Assets: The Ultimate Guide

Buying Bitcoin And Crypto Assets: The Ultimate Guide


Cryptocurrencies are the latest investing craze, attracting everyone from technology executives and Wall Street pros to novice speculators. Bitcoin, for example, has gone from $611 to a high of nearly $5,000 in the last year. Cryptomillionaires are being minted on a daily basis.

With bank savings rates at record lows, speculators are pouring money into so called ‘initial coin offerings' or ICOs. These new unregulated crowdsales of crypto assets have pulled in $2 billion so far this year.

In fact, this pace nearly doubled from April to May, and the amounts keep getting bigger. The latest record was broken by blockchain data storage network Filecoin, which raised $257 million.

But the everyday buyer has no idea how this new technology works… or how to get their hands on tokens.

Full story at http://bit.ly/2wkiCjm

Source: Forbes

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Money Psychology: How Cryptocurrency Makes Us More Compassionate (Part 2)

Money Psychology: How Cryptocurrency Makes Us More Compassionate (Part 2)


Fiat currencies make us mean and inhumane, according to most money research. On the other hand, cryptocurrencies might bootstrap humankind with more compassion, tenderness, and love. These digital assets could disrupt our psychology and increase human happiness. It’s in the nature of how these currencies function.

That said, if fiat currencies do exacerbate or even cause the money-empathy gap, and other negative psychological phenomena, how does cryptocurrency negate that? Before delving into the psychology of cryptocurrencies, it is important to examine how cryptocurrencies are different from fiat monies.

Cryptocurrencies by their nature were meant to alter human psychology. They were created by crypto-anarchists for the purposes of reshaping the social order — by undermining a system that was erected on the blood and sweat of the people. In this sense, whenever someone creates technology to alter society, it also augments human behavior. Digital currencies do this because they have several properties that fiat currencies do not possess.

Full story at http://bit.ly/2jYP0X8

Source: Bitcoin News

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