Bitcoin News & Discussion

Will The Bitcoin ETF Proposal Go Through Or Will It Be Trashed?As the SEC decision nears, speculation is rife whether the Winklevoss twins’ Bitcoin ETF will see the light of the day?As March 11 is a Saturday, the decision can get delayed until Monday, March 13.The strong public opinion and views of the independent consultants regarding the ETF will also play a key role in the SEC decision.KCG Holdings and Susquehanna International are two such outside advisors whom the SEC met recently.In some surveys, 72% of the participants believe that the ETF will be approved, whereas the remaining 28% have their reservations.Philip C Chronakis, Attorney, Adjunct Professor of Law, who is a supporter of the ETF says :“Denial of the proposed rule will not stop Bitcoins progress, but approval of the proposed rule and the underlying COIN ETF, will put the SEC in the ideal position to oversee Bitcoins development as an investment asset – and provide fair, broad-based investment opportunities for not only the connected (or technologically savvy) few, but to all Americans who deserve the same chance to benefit from this technological breakthrough and financial opportunity,” reports Coinspeaker.


BTCC Launches a Mobile Bitcoin Wallet Linked to Your Phone Number, Mobi

BTCC officially introduced today its new bitcoin wallet for iOS and Android, Mobi. It features in-app conversion between over a hundred currencies, silver and gold as well as money transfers by Twitter account and phone number, and an optional Visa debit card.

Accounts are linked to users’ phone numbers and transfers are promised to be instantaneous using Mobi’s private blockchain. From these features, it is obvious that the app was designed with convenience in mind, allowing you to transfer to anyone you know using their phone number or Twitter handle, without the need to remember or send complex cryptocurrency wallet addresses.

The same is true for the optional debit card feature allowing people to spend their money at any shop that accepts Visa and not bitcoin -meaning almost all of them. The card is linked to users’ accounts and automatically deducts expenses from their wallet balance.

Bobby Lee, the CEO of BTCC, gave the keynote lecture at the iFX EXPO ASIA 2017, where he first revealed the app.
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Well the SEC has rejected Bitcoin ETFs, i don't know whether it will be beneficial investment. 

Bitcoin Price Forecast 2017

Will China And India Boost Or Tank BTC Prices?

The Japanese decision to accept bitcoin as a legal tender boosted bitcoin prices from the lows of $900 to about $1200. Now, the focus shifts to the other two giants, India and China who can be game changers with their vast population and growing use of the internet. However, both seem to be keen to have their own version of digital currency.

China planning its own digital currency

Bitcoin is hugely popular in China. A while back, before the restrictions on withdrawals, the Chinese exchanges generated most of the daily trading volume. The PBOC did not have any control on bitcoins. Hence, the PBOC wants to launch a digital currency of its own to wrestle back control.

Such a move by a major central bank will revolutionize the cryptocurrency universe and skyrocket its popularity and acceptability worldwide. China is a major importer and exporter of goods and services. A digital Renminbi can be a gateway for China to internationalize its currency, and offer it as a substitute to the US dollar.

After all, the number of people using mobile payments is expected to surge further by 2020, reports Bloomberg.

A Chinese digital currency will also make it more transparent, hence acceptable. Currently, the opacity of the Chinese government has been a major roadblock in the acceptance and use of the Renminbi outside of China.

India forms a committee to study cryptocurrencies

India, the second most populous nation in the world is waging a war on black money. Its central bank has also been seriously studying the blockchain technology towards a digital rupee, which will help in its fight against money laundering.

Nonetheless, what happens to the existing cryptocurrencies if these governments introduce their own digital currencies is to be seen.
Read more : http://www.exchangerates.org.uk/news/17 ... india.html

Bitcoin Surges Above $1480 to Hit a New All Time High

The most popular cryptocurrency joins ether and DASH rally to reach a market cap of $23.7 billion

Bitcoin is on the wires today with the most popular cryptocurrency setting a new all-time high at $1481.73 (as quoted on BitStamp). The surge follows up on a massive spike higher in the second most-popular cryptocurrency, Ethereum. The combined market cap of the two is now above $30 billion.

Bitcoin surpassed its previous high in the run-up to the prospect for an approval of an ETF based on its value. The US Securities and Exchange Commission (SEC) did however turn down the application of the Winklevoss twins in March, causing the price of the cryptocurrency to decline from about $1350 to less than $900 before the current rally started.

Throughout April, Bitcoin and a variety of other cryptocurrencies including Ethereum and DASH have been surging higher. Last week the second largest cryptocurrency by market cap, Ethereum rallied over 50 percent to hit a market cap of about $7 billion.
Read more : http://www.financemagnates.com/cryptocu ... time-high/

Best Bitcoin Price Yet - To Buy Or Not To Buy?

Traders continue to buy bitcoin, which has propelled it to another new high. The cryptocurrency has easily scaled the $1400 levels.

While there is no fresh trigger for the event, Alex Sunnarborg, a CoinDesk research analyst noted huge trading volume from Japan.

Brian Kelly, founder of Brian Kelly Capital, believes that the latest high has come on the back of institutional money rather than hot money.

He said: "The biggest driver right now is you're starting to see institutional investors take a keen interest in the entire sector," reports CNBC.

In his opinion, the hard fork possibilities have reduced as the community moves towards an upgrade of the system, known as Bitcoin core.

How should one trade the bitcoin after the recent rally?

Bitcoin has continued its stupendous rally since breaking out of the $1300 levels. Though this rally looks strong, should new investors enter at the current levels?

The chart shows that the current rally is likely to face resistance in the $1440-$1480 zone. The RSI is deeply in the overbought zone on the daily charts. On the other hand, on the weekly charts, the RSI is showing a sharp negative divergence. While price continues to make new highs, the weekly RSI has failed to do so, which is a bearish sign.

Hence, we would advise against taking any fresh positions at the current levels. Traders who hold long positions should take partial profits near the $1440 levels and trail the remaining positions with a close stop loss.

All short positions should be avoided as the momentum is strongly in favor of the bulls.
Source : http://www.exchangerates.org.uk/news/17 ... o-buy.html

Brexit And French Election Uncertainty Is Boosting Bitcoin Higher

Yesterday, bitcoin rallied to $1623.01 levels, however, quickly gave up the gains and fell to $1444.94 levels within a short span of time, only to recover and close at $1537.23. At the time of writing this article, bitcoin was again close to breaking out of the $1600 levels.

Geopolitics, greater interest in Japan and the SEC’s impending decision are the likely events that are aiding bitcoin’s vertical rally. The rally is not only in bitcoin. Even Ethereum has rallied from about $81 to $100 in the past three days.

"The upcoming Brexit negotiations and a potential Marine le Pen election victory in France could rock the two largest European currencies and could account for spectacular growth in Bitcoin, Ethereum and other currencies."
Read more : http://www.exchangerates.org.uk/news/17 ... igher.html

Bitcoin Price Long-Term Forecast - Experts Have A Target Of $3000-$4000 On Bitcoin

What is propelling bitcoin higher?

The event of the last few days has been positive for bitcoin.

The US SEC’s review of their earlier decision to reject the ETF proposal has given hope to the investors that the ETF will see the light of the day, sooner than later.
Japan legalizing bitcoin as a payment method has seen a sharp increase of demand from the Japanese investors.
When another cryptocurrency litecoin successfully changed its code to facilitate fast transactions, the users of bitcoin gained confidence that a hard fork can be avoided. A soft fork, similar to litecoin will be welcome as it will not cause large-scale disruption to bitcoin.

"That example of a successful soft fork in litecoin has made people start to think that we could get a successful SegWit implementation in bitcoin and that could increase capacity and move us to the next level," Daniel Masters, director at Global Advisors Bitcoin Investment Fund (GABI), told CNBC by phone.

Masters believes that bitcoin has a target of $4000, in the 8-14-month horizon, however, in the short-term, he finds bitcoin fully valued and expects a correction to $1100 levels.

Similarly, Aurelien Menant, founder, and CEO of Gatecoin, a regulated blockchain assets exchange based in Hong Kong has a target of $3000 and higher for bitcoin this year.
Source ...

How Will Virtual Currency Impact Gaming Culture?

There are many social and psychological influences that support the success of virtual currency in gaming culture

Digital games (PC and console), massively multiplayer online (MMO), social, and mobile platforms comprise a dedicated and diverse culture. Overall, nearly 1.2 billion people worldwide currently engage in some form of online game across the globe with the space consistently showing strong growth.

A standard aspect in gaming culture is the use of digital currency in exchange for tokens, items, or materials that assist players in their gaming universes. Now, the Securities and Exchange Commission (SEC has approved Coinbase in the US, a digital asset exchange company, meaning investors may purchase and trade virtual currencies like Litecoin and Ether, allowing for a growing and thriving fintech industry.

Overall, virtual currency (VC) offers many positive influences on gaming culture. In the short term, psychological and economic impacts of VC may increase the wellbeing of gamers and the value of the gaming marketplace. However, in order for gaming culture to remain positive long-term, investors and gamers will need to demand for stronger cryptographic securities and/or regulations.
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Bitcoin Shoots Past Historic $2000 Price Level

The value of the entire Bitcoin blockchain is now worth about $34 billion, despite many challenges.

Only on Friday we reported that the price of Bitcoin reached $1900 thanks to a rush of investment from Asia, but that did not stay a record for long. The BTC/USD is now trading at a historic level of about $2070 per bitcoin, giving its entire blockchain a market cap of about $34 billion.
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