Bitcoin breaks $15,000 -- crypto market crosses $400 billion
Bitcoin's growth this year seems to know no limit, as the most valuable cryptocurrency continues to set new price records and lead the market to new highs. Today, it broke $15,000, just over a week after it crossed the $10,000 mark for the first time.
Yes, that's right, Bitcoin rose by 50 percent in just a few days. It's hard to wrap your head around that, considering that it was only trading for around $1,000 on January 1. Yes, Bitcoin is up 1,500 percent already.
Bitcoin goes to $13,000
When predicting the price of Bitcoin you have to keep in mind one thing: you will get it wrong. It's a futile exercise. It is simply impossible to tell where Bitcoin will end up at some point, simply because its evolution is like nothing we have ever seen.
Since the beginning of the year, when it traded for under $1,000, and until today, when it broke $13,000 for the first time, Bitcoin has set record after record, basically making of fool of everyone who said it will tank -- at least so far.
The crypto rally is over as market enters correction
Fueled by Bitcoin, Ethereum, Bitcoin Cash and other major players, the crypto market hit a new all-time-high yesterday, reaching a valuation of over $345 billion. But, as the saying goes, what goes up must come down. So, as the incredible rally finally came to an end, the market started to crash, big time.
This is not uncommon for the crypto scene. This year we have seen three similar crashes happening. All coincided with Bitcoin setting a new price record. This one is no different, as the market entered a correction right after the most-valuable cryptocurrency broke $11,500, sending it back into the low-$9,000s.
Bitcoin sets new price record above $11,000
After hitting $10,000 for the first time yesterday, the latest rally continues to take Bitcoin to new highs. The most valuable cryptocurrency set another price record moments ago as it went past the $11,000 mark.
And it did not stop there. On major exchanges, like Bitfinex, GDAX and Bitstamp, Bitcoin is trading for around $11,300. South Korean exchanges Bithumb, Coinone and Korbit, which offer BTC/KRW pairs, report prices of over $12,100.
Bitcoin breaks $10,000 -- crypto market exceeds $310 billion
The fact that the price of Bitcoin today went past $10,000 for the first time ever will not come as a surprise to anyone familiar with this crazy market. The most-valuable cryptocurrency has had a fantastic year, setting record after record. On January 1, trading opened at $963.
Considering that Bitcoin peaked at over $10,100 moments before writing this article, this means that it is up around 1,048 percent since the beginning of the year. Let that sink in for a moment, and let's move on to more mind-blowing figures.
Millennials may prefer Bitcoin over savings accounts for storing their wealth
The insane growth of the cryptocurrency market is making Bitcoin very attractive as a store of value. Folks who have bought Bitcoin at the beginning of the year are now looking at an 820 percent return on investment, which is much more difficult to achieve in traditional markets and virtually impossible to match using savings accounts.
Millennials are starting to take notice, with a new report suggesting that they are shunning savings accounts in favor of Bitcoin. Baby boomers, you can add this to the "millennials are killing" list.
Ethereum passes $400
For the first time in the past few months we are starting a conversation about the cryptocurrency market that does not revolve around Bitcoin. The reason is Ethereum, which just went past $400 for the first time since the record high in mid-June.
This is a pretty significant development, as Ethereum's performance has been lackluster since its peak. The only time it got close to $400 was on September 1, after which a ban on ICOs in China helped drive its price to under $200.
Ethereum wallet vulnerability freezes hundreds of millions of dollars
Ethereum is a hugely promising blockchain technology which has really taken off this year, thanks in no small part to the backing of major companies like Microsoft, Intel and Cisco. It is also super valuable as a cryptocurrency, being worth around $28 billion, and a great platform for ICOs (Initial Coin Offerings).
So, many startups are now turning to Ethereum to raise money, and the way that they are doing it is through smart contracts. Only problem is, they are not bullet-proof, as a newly-uncovered vulnerability in a popular wallet puts hundreds of millions of dollars at risk.
Bitcoin price goes over $7,300
The price of Bitcoin has skyrocketed this year, going from $1,000 in early-January to $3,000 in mid-June. Some pundits saw it coming, but not many believed it would go higher than that. Yet, in early-September, the main cryptocurrency reached $5,000. And it kept going.
Today, Bitcoin is trading over $7,300 for the first time ever. It's up 730 percent since the beginning of the year, and its market cap now sits at over $122.7 billion, which is a few billion more than what the whole market was worth at its June peak. It's quite unbelievable.
Bitcoin breaks $6,600
Just moments ago I was reading about Bitcoin setting a new price record above $6,400. The main cryptocurrency has been incredibly strong, and resilient during crashes, so this latest development does not surprise me one iota.
What also does not surprise me is that Bitcoin kept going after reaching the $6,400 mark, settling above $6,600 at the time of writing this article, based on an average from major exchanges like Bithumb (where it's actually gone past $6,700), Kraken, GDAX and Poloniex.
UK banks don't want to deal with crypto companies
British banks are reportedly staying away from companies that handle cryptocurrencies
According to the FT, the ambition of British banks to be see as a global hub for the fast-growing fintech sector are being questioned as companies that wanted to do business in the UK are now being force to opt for other countries like Poland or Gibraltar.
Investment in UK fintech startups exceeds $1 billion
Despite growing concerns over the impact that Brexit might have on fintech startups in the UK, new figures have revealed that the sector has seen record investment throughout the year so far.
According to data from London and Partners and Pitchbook, over $1 billion has already been invested in UK fintech by venture capitalists which is more than double that of the same last year.
Google will pay Android app developers more for retaining subscribers
Developers who want to sell apps or offer in-app subscriptions on Google Play have to give 30 percent of the revenue up. It's the cost of doing business on Google's popular app store -- and the same goes for the App Store and Microsoft Store as well.
However, in a move that mirrors Apple's policy change last year, Google will soon take a lower cut from developers who retain subscribers for more than a year.
Now you can PayPal people in Facebook Messenger
Building on an existing partnership, Facebook and PayPal are now making it easier than ever to send and receive money online. If you're in the US, it is now possible to make PayPal payments in Facebook Messenger.
In addition to announcing the new payment option, PayPal has also beefed up its Messenger chat bot. Users will now be able to get access to customer service by chatting with the bot.
IBM speeds up international payments with new blockchain-based service
IBM has looked to take the pain out of transferring currency across territories with the creation of a new cross-border blockchain payment solution.
Built in partnership with KlickEx Group and Stellar.org, the solution should improve efficiency and reduce the cost of global payments for both consumers and businesses.
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