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Bitcoin Up $1,000 in Just Two Days, Almost All Top 100 Coins See Green

(source: cointelegraph) Wednesday, July 18: crypto markets are continuing to climb fast, with 98 out of the 100 top cryptocurrencies by market cap in the green over the past 24 hours, according to data from Coinmarketcap.

Bitcoin (BTC) has grown by $1,000 in just a couple of days, inching firmly to the $7,500 point after having reached an intraday high of $7,542. The top cryptocurrency is trading at around $7,429 at press time, up about 10 percent over a 24 hour period and having gained around 15 percent over the past month, reaching monthly highs.

Ethereum (ETH) is still hovering around $500, trading currently at around $492. The top altcoin is up almost 4.5 percent over the past 24 hours, with an intraday high of $526.

Total market cap has broken $296 billion for the first time since June 11, when Bitcoin was below $7,000. The markets have gained over $40 billion over the past 7 days, with total market cap at around $295 billion by press time.

Stellar (XLM) and Cardano (ADA) have seen some of the biggest gains over the past 24 hours, up around 30 and 21 percent respectively. XLM is trading at $0.30 at press time, up around 59 percent over the past week.

Earlier today, Cointelegraph reported that Stellar has become the first blockchain protocol to acquire a Sharia compliance certification in the money transfer and asset tokenization field.

Cardano is trading at around $0.18, up about 41.5 percent over the past seven days.

Last week, one of the most popular U.S. crypto exchanges Coinbase announced that it is exploring addition of a number of new altcoins, including Stellar and Cardano.

Earlier today, billionaire investor and Avenue Capital Group co-founder Marc Lasry, claimed that Bitcoin could reach as high as $40,000 due to the coin becoming more “mainstream.” Lasry suggested that Bitcoin investors will be “making 5 to 10 times their money in 3 to 5 years.”

admin 18 July 2018 market, cryptocurrency, trading

TenX Co-Founder Still ‘Quite Confident’ Bitcoin Can Hit $60,000 This Year

(source: cointelegraph) Julian Hosp, co-founder and president of crypto startup TenX, says he’s still “quite confident” that Bitcoin (BTC) can hit $60,000 in 2018, CNBC reports Wednesday, July 11.

During an interview at the Rise conference in Hong Kong, Hosp told Squawk Box co-host Akiko Fujita that he still stands by the initial 2018 forecast he made in December for the leading cryptocurrency:

"Back then, December, price was at a $20,000 all-time high. I predicted for 2018, we're going to see $5,000 and $60,000. So $5,000, we’ve pretty much hit it, so let's see if we can do the $60,000. I'm still quite confident."

Bitcoin has not yet plummeted as low as $5,000 this year — a price point that would bring it back to its valuation in September 2017. However, the cryptocurrency’s recent downtrend is showing bearish signs, having dipped to around $5,880 in late June:

Hosp believes the $60,000 mark could be a reality this year assuming there is a "massive positive event" — for example, a Bitcoin exchange traded fund (ETF), or a country announcing something that is "very, very positive for Bitcoin." If this fails to happen, he conceded, the major upswing could take “a bit longer.”

Weighing in on recent regulatory crackdowns that may be having a negative impact on the crypto markets — with Fujita mentioning Japan as a prime example — Hosp said he thought that the “perfect path” for crypto-specific regulation would be clarity over what is allowed, rather than “what is forbidden.”

In his aforementioned forecast for 2018, Hosp had said that a rollercoaster of price highs and lows will remain native to crypto until the space sifts through the superfluous projects and rallies behind those that offer tangible uses and real value.

Last week, Fundstrat’s Tom Lee also defended his previous prediction that Bitcoin would hit $25,000 by the end of this year, clarifying that a more recent prediction of $22,000 is not a refutation of his other forecast.

Bitcoin is trading at $6,383 to press time, down less than half a percent on the day, bringing its weekly losses to just under 5 percent.

admin 11 July 2018 market, cryptocurrency, trading

Bitcoin Network Hashrate At All Time High Even Among Market Corrections

(source: cointelegraph) The Bitcoin (BTC) network’s hashrate is continuing to climb today, May 2, according to data from BitInfoCharts. The continuous growth of the hashrate over the past months signals a constantly increasing level of interest from the miners, in spite of Bitcoin’s inability to break the $10,000 price point after the market crash in February.

After BTC’s price reached $20,000 in December of last year, the market began to fall in the wake of the new year, with BTC dipping below $6,000 in February. Although the market has recovered slightly, with Bitcoin currently trading for around $9,144 and up 3 percent over a 24 hour period, the price is still more than 50 percent below its all-time high reached in December.

The rising hashrate - last recorded on May 1 as 31,590 PH/sec - means that new miners are continuously starting to mine for Bitcoin in spite of market fluctuations. This causes a constantly increasing competition between the miners and the resulting improvement of the network’s overall security.

In mid-March, Fundstrat’s Tom Lee reported that Bitcoin mining would become less profitable - and therefore less popular - during times of market decline, a prediction belied by the current high hashrate even with a stagnating market.

Bitcoin Cash (BCH), on the other hand, is currently experiencing a stagnating hashrate. BCH is a fork of the Bitcoin blockchain advertised as a faster and cheaper alternative, as the currency has a larger block size. However, in February BTC’s transaction fees were actually lower at one point than those of BCH.

Last August, the Bitcoin network hashrate fell by 50 percent, from 8,000 to 4,000 petahash per second in a four day period, a drop attributed to the attraction of higher block rewards for BCH mining.

admin 2 May 2018 market, cryptocurrency, trading

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