Dear Steemians!
Here is the daily press review for bitcoin and other crypto currencies.
New Goalposts Set For Bitcoin, $7,500 by Year End
In late July, an audacious figure of $5,000 per Bitcoin was predicted by stock researcher Ronnie Moas for the year end. Moas is a staunch supporter of digital currencies, with 100 percent of all his investments now in Bitcoin, as well as other altcoins. Moas sees digital currencies becoming part of strategic reserves and asset allocation models in the near future as institutional investor interest grows. Moas has been giving advice on Bitcoin with a bold statement coming at the end of July when his prediction sat at $5,000. With this prediction, Moas is also expecting the market value of all digital currencies to jump from around $140 bln to $2 tln, with Bitcoin being the main influencer in that. (cointelegraph.com)
Here's What's Next for the Bitcoin Bubble
AOL forced public companies to rethink their internet strategy, just as Bitcoin is causing companies to rethink their blockchain strategy. Coming into this year, Bitcoin was the only game in town, capturing 87% of total cryptocoin market cap. At a recent price of $4,100, Bitcoin has more than doubled from its “Bloody Sunday” panic selloff from less than a month ago. Bitcoin could be headed to a similar peak when it becomes mainstream and ubiquitous, and is no longer viewed as the currency of hackers and speculators. If the crypto-bubble is following Dotcom’s playbook, expect the flow of capital to Initial Coin Offerings to continue accelerating, as Bitcoin investors seek to diversify their holdings. (investopedia.com)
Bitcoin Surpassed $4,300 But 99.98% of World's Capital is On The Sidelines - CoinJournal
At the time, the market cap of bitcoin was $8 billion, while the market cap of gold remained at $7 trillion. On August 14, the price of bitcoin surpassed the $4,300 mark, achieving yet another new all-time high. However, in order for this to happen, it would require the creation of improved systems to attract for high profile traders and institutional investors. In May of 2016, Digital Currency Group founder and CEO Barry Silbert compared the market cap of bitcoin to that of gold. Yet, Ian Lee, general partner at DAICO and former blockchain lead at Citi, reminded the community that even with the recent surge in the price and market cap of bitcoin, 99.8 percent of the world’s capital remains on the sidelines. (coinjournal.net)
Here Are the 10 Best Bitcoin Digital Wallet Apps To Have While Prices Explode
Here are some of the best Bitcoin apps out there today... To make things easier for those looking to download their first Bitcoin wallet I've rounded up a list of apps. Disclaimer: It is important to do your own research before downloading and opting to use Bitcoin apps. The Bitcoin phenomenon has become impossible to ignore. These apps allow you to send Bitcoin like a text with a few clicks. (thestreet.com)
Bitcoin Is Not a Pyramid. Coinbase Is.
You may say that Coinbase is not issuing those Bitcoins and only trading them—and that's why it's not a pyramid. In a nutshell, I'm getting my investment and my profit from other people, who are paying Coinbase for my BTCs. Actually, I still have a few BTCs in my Coinbase account and I can make that 750% profit, if I sell now. Should I? The BTC price is over $4,000. I think that what Coinbase (and similar traders like CoinMama or CEX.io) are doing is definitely a pyramid and must be stopped by the government, sooner rather than later. (yegor256.com)
Bitcoin Cash Integration? Not So Simple Says Trezor
The hard fork of Bitcoin to create Bitcoin Cash on Aug. 1 resulted in a difficult question for Bitcoin service providers, including wallets and exchanges - Should they support Bitcoin Cash integration? Bitcoin Cash integration was a simple fork of the existing Bitcoin chain. Given that Bitcoin Cash was only a split of Bitcoin's Blockchain, and that Bitcoin Cash had replay protection in place, Trezor announced that it would support BCH integration. Users who wanted to access their Bitcoin Cash would have been able to do it through a simple interface, accessible from the Trezor wallet. Users were given a guide to claim their Bitcoin Cash from their Trezor wallets. (cointelegraph.com)
If bitcoin were a stock, here's where it'd rank on the S&P 500
If bitcoin was a stock (which it isn't), it would be the seventy-fourth biggest by market capitalization, just behind Adobe and Netflix on the S&P 500. Bitcoin hit another record high on Tuesday, with the continuing rally bringing its market capitalization within touching distance of major stocks like Netflix. Adobe has a market cap of $73.6 billion while Netflix is worth $73.8 billion, putting bitcoin within touching distance of both. This makes it the highest market capitalization yet. Bitcoin's market capitalization — the total number of coins in circulation multiplied by the price — also hit $73.5 billion when the record high was hit, Coinmarketcap data shows. (cnbc.com)
Ukraine Issues Clarification on Legal Status of Bitcoin
According to law firm Yuskutum managing partner Artem Afyan, engaging in digital currency mining in the country is absolutely legal: Ukraine’s central bank, the National Bank of Ukraine (NBU), has issued a statement about the regulations covering digital currencies like Bitcoin, as well as the legal status of the cryptocurrencies. The move was made by the central bank following the arrest of several individuals for allegedly mining Bitcoin illegally in the second week of August 2017. In its statement, the NBU clarified that there is only one currency that is being used in Ukraine and that is the hryvnia. No other currency or substitute currency can be issued or used as a form of payment in the country other than hryvnia. (cointelegraph.com)
Bitcoin Sets New Record High of $4,483 in Overnight Trading
The news follows days in which the climbing value of the digital asset has seen it repeatedly break new ground. When that event – which saw the creation of a rival digital asset called bitcoin cash – passed uneventfully, money seemingly held back by cautious traders poured into the asset. The price of bitcoin continued its recent bullish surge last night, reaching a new all-time high of over $4,480. Since opening today at $4,382, however, prices across global exchanges have fallen somewhat, and at press time were around $4,200 – a drop of 4.15 percent, according to the CoinDesk Bitcoin Price Index. In a likely surprise for those expecting a sell-off, a fall never came and, yesterday, bitcoin surged on to hit an astonishing $4,483 at around 3:50 a.m. (coindesk.com)
$4,200 Bitcoin Would Cost $7,000 at Pre-2017 Market Dominance: Alistair Milne
Bitcoin would already be worth $7,000 if its market dominance returned to pre-2017 levels, calculations suggest. Responding to Milne, others considered it entirely possible for similar prices to appear even if Bitcoin’s dominance “doesn’t go above 51 percent.” Findings uploaded to Twitter by investor and entrepreneur Alistair Milne suggest that without “Bitcoin Unlimited” or “forking fears,” Bitcoin would be worth $3,800 more than at present, he says. Despite prices also reaching their highest levels in history this week, Milne joins others suggesting there is still room for growth short-term. As Cointelegraph reported yesterday, Bitcoin’s growth is likely set to punish altcoin prosperity in the short term, with losses of up to 20 percent forecast by community commentators. (cointelegraph.com)
Bitcoin hits a record high before rolling over
Bitcoin cash, the cryptocurrency that was split off from bitcoin at the start of the month, is also down Tuesday. LONDON — The price of bitcoin is falling Tuesday morning after big gains over the past few days. Bitcoin broke through $4,000 a coin for the first time early Sunday morning, a record high, and continued to rise throughout Monday and early Tuesday morning, peaking at $4,339.79. Mati Greenspan, an analyst at the trading platform eToro, told Business Insider: "Some profit taking is to be expected. The dip follows several days of big gains and record highs. (businessinsider.com)
Bitcoin Price Tops $4,400 As Crypto Market Nears $150 Billion
The movement comes at a time when institutional investors are beginning to take a new interest in bitcoin and the larger cryptocurrency asset class. Week-over-week, price gains were even more impressive, with the value of the cryptocurrency rising just over 30% from $3,382 at the end of trading a week ago. Just an hour after the August 15 session opened, the average price of bitcoin was up across global exchanges, rising from an opening total of $4,382. Bitcoin prices have set an all-time high above $4,400. At press time, the price continued to edge upward, following a day in which in gained more than $200, rising to $4,382 from $4,111 on Sunday. (coindesk.com)
Bitcoin Has Just Broken Another All-Time Record at US$4,000 And Continues to Rise
The digital currency is up 7.45 percent to US$319.76 on Monday morning in London. Bitcoin Cash is up 6.99 percent to US$319.25. The digital currency only passed US$3,500 for the first time earlier this month. Bitcoin crossed the US$4,000 mark at close to 1:00 am on Sunday and stands at US$4,056.80 at the time of writing (2.10 am EDT). The price of bitcoin broke through US$4,000 per coin on Sunday and is still above the symbolic level in early trade on Monday. (sciencealert.com)
Dennis Gartman shares why he is staying away from bitcoin: 'Don't understand it'
"I give them credit for that, but it is something that I will absolutely stay away from, have stayed away from it, didn't understand it to begin with, don't understand it now." Bitcoin hit another record Monday, but commodities whiz Dennis Gartman still isn't buying. How can you buy Starbucks with bitcoin when the price is going to fluctuate as [dramatically] as it has?" "What bothers me is that something that can move 5, 10, 15, 18 percent in the course of the day for what's supposed to be a pricing mechanism," Gartman said. When bitcoin was introduced, it was supposed to be better than common currencies like the dollar or euro because it was supposed to be finite, Gartman said. (cnbc.com)
More on these and other related news can be found at http://zentrade.online/bitcoin-news-digest-tuesday-august-15-2017/