Bloomberg: Bitcoin ‘has had a tendency of adding zeroes to its price’
Bitcoin may take twice as long to get to $100,000 than previously surmised. In its latest crypto newsletter, Bloomberg observes that Bitcoin (BTC) "has had a tendency of adding zeroes to its price," noting that the asset previously went from $1,000 to $10,000 in less than four years. Maturation may have slowed this trend somewhat, but Bloomberg does not appear to believe it has reached a full stop. They noted that such a rise could occur again, though it may not be for some time:“If the crypto echoes its past gains, with some maturation, about double the time period it took to add a zero....
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The Central Bank Of Venezuela applied the announced redenomination plan for the national fiat currency, the bolivar on October 1. This redenomination implied slashing six zeroes from the currency, to make payments and currency handling easier, according to earlier statements. However, just hours after applying this measure, the bolivar lost more than 20% of its value against the U.S. dollar.
Venezuela Slashes Six Zeroes From Its Currency
The Central Bank of Venezuela, the institution that dictates the monetary policy of the country, has applied a redenomination of its fiat....
"If Bitcoin were to catch up to Ethereum's performance this year, the No. 1 crypto's price would approach $100,000," believes Mike McGlone, senior commodity strategist at Bloomberg Intelligence. Ether (ETH) has outperformed Bitcoin (BTC) in terms of year-to-date market performance, rising more than 320% against BTC's 54% returns. But, according to Bloomberg Intelligence senior commodity strategist Mike McGlone, Bitcoin would soon catch up to Ether's gains, which might even push its per-unit price to $100,000."If Bitcoin were to catch up to Ethereum's performance this year, the No. 1....
Ah, the WinkDex. It's the brain child of both Cameron and Tyler Winklevoss, two of the bitcoin community's most prominent entities. This simple but effective bitcoin price composite is the official price measure of the Winklevoss' bitcoin ETF, currently awaiting regulatory approval by the United States Securities and Exchange Commission. And according to a post made on the Winklevoss Capital website, the price data is now available on Bloomberg in a move some suggest may further legitimize the digital currency in the eyes of traditional financiers. "We are honored to be working with....
Bloomberg terminal showing bitcoin prices from Coinbase and Kraken. Bloomberg has started providing bitcoin pricing to more than 320,000 subscribers via its Bloomberg Professional service. The service will allow users to monitor and chart data from Coinbase and Kraken. It will also track digital currency news and relevant social media posts from more than 100,000 sources. All users need to do to access the new service is type VCCY on the Bloomberg Professional service. Bloomberg was rumoured to be working on a bitcoin price ticker last August. At the time an inside source told BTCGeek....
The government of Venezuela is considering a new redenomination of its fiat currency. The proposal that is under study would cut six zeroes from the inflation-affected Bolivar. This would aid companies in processing taxes and provider payments that are absurdly complex with today’s numbers. However, the dollar is the predominant coin in retail payments in Venezuela, according to consulting firms. Venezuela to Redenominate Its Currency The government of Venezuela is studying a mathematical redenomination of its currency, the sovereign bolivar, to simplify payments for big companies.....