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Wednesday, 22 November 04:31 (GMT -05:00)



Foreign exchange market

Bitcoin Has Got a Younger Brother – Bitcoin Gold


In October, the list of cryptocurrencies got longer thanks to a new digital currency. Bitcoin developers announced Bitcoin Gold (BTG), and they promise that mining it will be much easier than mining the conventional version of Bitcoin. So, Bitcoin is going to get another younger brother in the coming days. Actually, the corresponding fork (separating Bitcoin chains in the blockchain) was scheduled for October 26th. If everything goes right, BTG may reach the same success that Bitcoin Cash got not so long ago. For those of you who don’t know, Bitcoin Cash also came into existence as the result of forking in August 2017. Later on it became the world’s 4th biggest cryptocurrency in terms of market capitalization.
 

 

 

 

At this point, Bitcoin’s market cap is around 95 billion dollars. Experts say that many developers thought about creating another Bitcoin peer while watching the huge success gained by Bitcoin. The international community has been discussing several new versions of Bitcoin, however Bitcoin Cash seems to be the only success for now.
 
Those who advocate the creation of Bitcoin Gold say that this is an attempt to bring the digital gold status back to Bitcoin since the world’s biggest digital currency has been losing it so far. The forking was initiated by a developer team led by Jack Liao (CEO of LightningASIC, a major Honk-Kong-based mining firm). The founder of cryptobank Wirkex Pavel Matveev assumes that the key idea of forking is to create another Bitcoin version so as to let more people mine it and therefore reduce the impact of big-scale mining firms on the industry and the market situation in general.
 
Indeed, big-scale miners do play the key role in mining digital currencies. Since they use costly hardware, the get a significant competitive edge over small-scale retail miners. Bitcoin World developers are planning to introduce a new algorithm to destroy the market monopoly of big-scale miners. They will be able to mine Bitcoin Gold using standard GPUs, which will make mining affordable and accessible to most of the players out there.
 
Everyone seems to be waiting for Bitcoin Gold but the community still doesn’t understand how this is going to be put into practice. Most of them assume that all of the Bitcoin users will get access to Bitcoin Gold irrespective of the type of their wallets. At this point, the forking is reported to have been support by such exchanges as Bitexchange, Coinbase, and Bitstar. However, nobody knows which wallets are going to be of high priority to those arranging the process.
 
Bitcoin Gold is Expected to Have a Bright Future
 

 

Still, nobody knows the initial cost of the new digital currency. Some experts expect it to follow in Bitcoin Cash’s footsteps and start with something around $300. Others say it may go up to $500 and even $1000.

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The forthcoming forking has already influenced the BTC exchange rate. NordFX analysts report that BTC has nearly doubled over the last 4 weeks. A couple of days ago, Bitcoin set another all-time high around $6200 even though now it’s trading around $5700. Bitcoin has always been a rather volatile digital currency but it keeps on setting new all-time high over and over again. Experts say that investors started loading up on Bitcoin in order to be able to get free Bitcoin Gold coins upon launching. At the same time, they say that $6000 is not the limit. However, it’s always a good idea to trust professionals and to be cautious when dealing with digital currencies.

 

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Bitcoin Nears $8000

Bitcoin closed the past trading week with an attempt to test the next major level – 8000 USD/BTC. In particular, the world’s first and biggest cryptocurrency has come close to the threshold on November 17th by setting a new all-time high at 7997,17 USD/BTC. However, this was a short-term attempt and the price retraced a bit shortly after setting the record.

Publication date: 19 November 09:18 AM

Masterforex-V Expo Names Best Forex Brokers for Beginners in November 2017

Sooner or later, each and every forex trader out there faces the same challenge – choosing the right forex broker. Their future performance will depend on that choice. The thing is, forex brokers may differ in a number of aspects, including the trading conditions they offer their clients.


Publication date: 06 November 04:26 AM

Bitcoin: Long-Term Prospects

Market participants, including traders, investors and regulators, have been watching cryptocurrencies getting more and more popular over the last few years. Some experts say that central banks will start regulating digital currencies at some point in the near future.

Publication date: 30 October 07:48 AM

Bitcoin Gold Crashes on the First Trading Day

 Yesterday, on October 25th, Bitcoin Gold became available for public trading. However, the first trading day turned out to be a nightmare for the founders. BTG crashed by roughly 70% over the first trading hours. According to Coinmarketcap, shortly before the launch, the exchange rate was 480 USD/BTG, but a few hours later it crashed all the way down to 157 USD/BTG.

Publication date: 26 October 12:59 AM

Duckascopy Offers Most Favorable Trading Conditions to Forex Traders

Profitable forex trading has become something usual for thousands of people all over the world. Having decided to change their lives for the better one day, they started valuing the active lifestyle of daily trading while listening to those market signals. Keeping in mind all the risks and potential benefits of trading forex, they dared take their first step.

Publication date: 19 October 10:36 AM

Bitcoin Sets Another All-Time High

Bitcoin has completely recovered from September’s downtrend and is now moving higher. Moreover, the world’s first and most popular cryptocurrency has just set a new all-time high, Market Leader reports.

Publication date: 14 October 03:28 AM

Billionaire Cuban Calls Cryptocurrencies and Blockchain the Future of Financial Markets

American billionaire Mark Cuban thinks that cryptocurrencies and the blockchain technology is the future. He shared his opinion with the public during his interview with Bloomberg. He talked about Bitcoin and the development prospects for the entire industry of digital currencies.

Publication date: 10 October 10:10 PM

Miners Start Panicking as Some Cryptocurrencies Start Going Down in Value

Bitcoin is making everyone nervous again. Bitcoin miners start panicking, and the panic is driven by the news that Bitcoin Cash and some other cryptocurrencies are crashing again, Market Leader reports.

Publication date: 08 October 01:34 PM

Bitcoin Exchange Rate Retraces Before Another Rally, Expert Says

These days, new financial assets are being added to the list of forex assets. Those are highly volatile assets like cryptocurrencies, for example. Cryptocurrencies have been getting increasingly popular with international forex traders. This holds especially true for Bitcoin, which is the world’s first and most popular digital currency.

Publication date: 08 October 05:40 AM

Masterforex-V Expo Names Best Forex Brokers for Beginners in September 2017

To succeed in trading financial markets in general and forex in particular, each and every trader needs to choose the right broker. Most people think that there is no difference between forex brokers, expect their names. Well, it may seem so at first sight but the truth is, brokers differ in many aspects, including the quality of products and services they offer, as well as the trading conditions.

Publication date: 05 October 08:54 AM