Cryptocurrency Set to Hit $10000 Mark

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Nov/27/2017

Cryptocurrency now worth seven times an ounce of gold, with market cap higher than IBM, McDonald’s or Disney – but analysts warn of ‘a huge bubble’ Source: The Guardian


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$10,000 Today? Bitcoin Price Primed to Break Psychological Barrier - The world's largest cryptocurrency by market capitalization clocked a new lifetime high of $9,9731.51 at 09:00 UTC, as per CoinDesk's Bitcoin Price Index. That came after blowing past $9,000 over the weekend for the first time – and just over a week after topping $8,000. Source: CoinDesk.com

Here is What the Central Bank Really Thinks of Bitcoin – In the USA, it’s more of a privacy worry.  In China, the government has made it clear that the central bank has full control over cryptocurrencies though conditions are said to be “ripe”.   

Bloomberg News reports that in Germany it’s all about ‘Speculative Plaything’

In a country where lot of citizens still prefer to pay in cash, the Bundesbank has been particularly wary of the emergence of bitcoin and other virtual currencies. Board member Carl-Ludwig Thiele said in September bitcoin was “more of a speculative plaything than a form of payment.” A shift of deposits into blockchain would disrupt banks’ business models and could upend monetary policy, Thiele said. At the same time, the Bundesbank has been actively studying the application of the technology in payment systems.

Bloomberg also reported Monday that nations with banking woes (think Venezuela) have been especially helpful at boosting the price of Bitcoin.

- Aaron Goldstein, Gambling911.com

Business/Financial News

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