Bitcoinist Weekly News Re-Hash: Factom Lies, Bitcoin Price Falls on Christmas
We saw some interesting activity in the Bitcoin markets this week. During the first half of the week, we saw a run-up to $460, followed by a few days that made us think that $460 might be a new sticking point in the market. Those notions were dashed during the latter half of the week though, as the price starting falling on Christmas night, hitting a low of $407. A late-week recovery brought the price back up, though, and overall we saw a 2.63% decline over the entire week. Total Change: -2.63%
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This week proved to be a quiet one as the community showed little activity following the Christmas holiday and going into New Year’s. The price grew during the week, but not much; overall, we saw a 0.97% growth. There were a few bits of interesting news to break up the monotony of the price’s sideways pattern, but even then the post-Christmas week did not yield much excitement. Our week began on December 28, 2015 with the bitcoin price at $427.15, still trying to recover from the large drop that happened at the end of last week. The price attempted to stay in the $420s for most of the day,....
This week, we saw a significant amount of growth in the Bitcoin price, following several weeks of relatively calm market activity. Starting in the high $230s — carrying on the trend from last week — the price quickly rose to $240 and beyond. Monday, October 5, 2015 kicked off the week with the Bitcoin price at $238.70, riding that mid-to-high $230s range that persisted throughout most of last week. After three hours of very slight decline, the markets gained upward momentum that lasted for the rest of the day. The price reached $240 at 5 PM, and stayed in the low $240s for the rest of the....
O Christmas Bit, O Christmas Bit. Your miners keep on working! O Christmas Bit, O Christmas Bit! Transactions keep on moving! Not only when the markets soar. But also when the bearwhales roar! O Christmas Bit, O Christmas Bit. Your miners keep on working! O Christmas Bit, O Christmas Bit. You've seen so much this year! O Christmas Bit, O Christmas Bit. The new year is so near! From IBM to Microsoft, From BitLicense to old Mt Gox! O Christmas Bit, O Christmas Bit! You've seen so much this year! O Christmas Bit, O Christmas Bit. The snow outside, it glistens! O Christmas Bit, O Christmas....
Last week The Factom Foundation released its latest project development news update. Factom is this year's most awaited project in the cryptocurrency space. The concept behind Factom is a very innovative one since it enables company's to use the technology without ever owning cryptocurrency. Factom is a distributed, decentralized protocol running on top of Bitcoin. The software is open source, and anyone is free to use it for any purpose. The Factom network gives developers the tools to build a new generation of applications that use blockchain technology. Factom uses a data layer on top....
For the last few weeks, the Bitcoin price has been on a high following bad financial news from Greece and China. Greece once again found itself staring down the barrel of a debt crisis, while China found itself in the clutches of a stock market collapse. The Bitcoin community met these ominous occurrences with optimism; the next global recession will surely give Bitcoin an opportunity to shine. The possibility of a global recession, combined with the hopes of a mass migration to Bitcoin, sent the Bitcoin price upwards until it hit resistance at $300 last week. Since then, the price has....