Markets Monthly: Bitcoin Tests 2016 Highs as Investors Seek Privacy
It may seem ironic, but privacy dominated the public digital currency discussion in October. Spurred by a growing awareness that bitcoin is not as anonymous as it has been advertised by banks and regulators, innovators and speculators are now seeking to capitalize on what they see as an opportunity to create new products for developers and new value for investors. Propelling this debate to the forefront was the debut of a long-in-the-making blockchain project called Zcash, which generated significant visibility (not to mention market activity) by leveraging claimed advances in....
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2016 has been an excellent year for Bitcoin in many respects. Scalability innovations like Segregated Witness have been introduced to the Bitcoin community, many successful Blockchain and Lightning Network tests have taken place and many new markets have turned to Bitcoin as a viable currency option. The price of Bitcoin has been a major positive in 2016 as well, with its value up by well over 75 percent. Now, Dec. 1, 2016, marks the highest Bitcoin price measured in over two and a half years. New Bitcoin high for 2016. According to BitcoinAverage, the price of Bitcoin passed the $760 mark....
Bitcoin's last six monthly candles have closed green, tying its previous record streak for bullish monthly candles. Bitcoin has just closed six consecutive monthly green candles for the first time since April 2013. Should history repeat, Bitcoin may enjoy further parabolic gains this year. In April 2013, Bitcoin closed at roughly $140 after posting six green monthly candles. While the markets would retrace to less than $100 over the next two months, Bitcoin would then surge 700% over the following six months and tag prices above $1,000 for the first time.BTC/USD since 2012, 1m candles:....
Snowden’s advocacy has inspired many of us to seek out better privacy preservation and technologies that are free from government control. The post As A Privacy Pioneer, Edward Snowden Left A Trail For Bitcoin appeared first on Bitcoin Magazine.
Bitcoin has seen some massive momentum throughout the morning that has allowed it to erase a good portion of the losses that came about due to yesterday’s plunge This selloff marked capitulation amongst investors, with many clearly fearing that the multi-month uptrend that led BTC to highs of $42,000 was over and that a deep […]
Tax havens are renowned for allowing the rich and famous to shuffle their funds where governments can’t see or access them. Bitcoin, with its strong store of value, borderless nature, and unprecedented privacy, has the ability to obsolete tax havens. Some investors, especially those in countries with high rates of taxation, seek to find ways of providing their savings with privacy and anonymity. This can be for various reasons, from tax evasion, a fear of loss of funds or to a simple desire for privacy. According to cryptocurrency investor Marc De Mesel, cash serves part of this purpose,....