Renewed Optimism as Bitcoin Price Nears $500

Renewed Optimism as Bitcoin Price Nears $500

The price of bitcoin on the CoinDesk USD Bitcoin Price Index (BPI) rose more than 10% today at its peak to a high of $494.16, up from the day's open of $444.31. The price increase brought the value of bitcoin to its highest total since late April, nearly one month ago. The price of bitcoin on the CoinDesk CNY BPI saw a similar spike, rising to a high of ¥3041.89, up from its opening at ¥2769.04. At press time, prices on both the USD BPI and CNY BPI had cooled somewhat, with the price of bitcoin observed at $483.54 and ¥3010.13, a rise of roughly 8% on each index. The first significant....


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Bitcoin Buoyant as Price Surges Past $500

Bitcoin passed the $500 mark for the first time in weeks this morning. At press time, the price stood at $513.93 - down from a peak of $518.22 a short time earlier. The Bitcoin Price Index (BPI) has been climbing steadily since 20th May and started nearing the psychologically important threshold at around 6.00am (BST) today. Apart from a brief spike in mid-April, bitcoin has been trading south of the $500 mark since late March. Renewed optimism. A number of positive developments over the past couple of weeks helped reverse the negative narrative and bring back a healthy dose of optimism.....

Bitcoin Price Spikes Above $1,300 as ETF Decision Nears

Bitcoin prices saw a significant price spike this morning, briefly shooting above $1,300 to hit a new all-time high. Markets peaked at an average of $1,325.81, according to the CoinDesk Bitcoin Price Index (BPI), before falling sharply back below that level to hit a daily low of $1,178.54 – a change of roughly $133 within minutes. The price drop appears to have been seen most directly on digital currency exchange Bitfinex, reaching a low of $1,067.20, according to BFXData.com At press time, the price is an average of $1,263.98, BPI data shows. The price developments....

BTC China Halts Chinese RMB Deposits In Light Of Renewed PBOC Crackdown

Yesterday, Caixin reported that the PBOC, led by the Payment and Clearing Organization of China, has been having meetings and interviews with commercial banks, third party payment processors, and Bitcoin exchanges within China. PBOC officials made it very clear that they wished to completely cut off the funding line of Chinese RMB into Bitcoin trading platforms around the country. The renewed interest in Bitcoin by the PBOC has led to funding shuffles from every Chinese Bitcoin exchange. Cryptocurrency exchange rates across the board have suffered since the first rumors of renewed the....

Renewed Chinese Interested in Bitcoin Influenced by Ongoing G-20 Summit

Renewed activity on Chinese Bitcoin exchanges following the recent developments in G-20 summit may be responsible for the increase in Bitcoin prices. The Bitcoin community had a reason to rejoice this weekend as the digital currency broke the impasse to cross $610. The popular cryptocurrency has been hovering at around $570 since the past one month after falling from a high of $750 following the Bitfinex hacking incident. Like many times in the past, the sudden movement of Bitcoin price is attributed to an increased interest in the digital currency among Chinese investors. China....

Excitement Builds As Dogecoin's First Birthday Nears

Users of Dogecoin call each other 'Shibes', after the meme which Dogecoin is based on, which features the Shiba Inu breed of dog. One year ago tomorrow, Dogecoin entered the cryptocurrency world. This curious new coin, which was based on the popular Shiba Inu from the Doge meme, was very well received by cryptocurrency enthusiasts. A mining pool was created within hours of launch, and people began to mine Dogecoin. Some did it for the fun of it; they were just looking to get a piece of the action of this fun new coin based off of a meme. Others believed in Dogecoin's future, some even....

Quotes

Bitcoin may be the TCP/IP of money.

Paul Buchheit, Creator of Google’s Gmail Service