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Tuesday, 19 June 00:04 (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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Today’s Bitcoin Rate Signals Growing Risks in Banking Sector

Yesterday, the BTC exchange rate suddenly started growing, probably as a part of a recovery move against the existing downtrend. According to CoinMarketCap, the current BTC exchange rate is somewhere above 7500 USD/BTC. Over the last 24 hours, the world’s first cryptocurrency has gained some 5%, trying to recover from May’s downtrend (in case you don’t know, the coin has lost 20% since early May before starting to recover yesterday).

Publication date: 31 May 08:33 AM

Bitcoin Goes Down Before Another Rally?

The BTC exchange rate keeps on going down while being driven by a number of factors and circumstances. International experts say that the price of the world’s first and most popular cryptocurrency is currently going down just to gain some momentum later and skyrocket to new highs.

Publication date: 29 May 11:19 AM

Masterforex-V Analysts name Successful ICOs in May 2018

For those of you who don’t know, an Initial Coin Offering (ICO) is all about raising funds. To be more specific, startups sell their underlying crypto tokens in exchange for existing crypto currencies, mostly Bitcoin, Ethereum and other altcoins out there. This resembles an IPO in the stock market where investors buy a newly offered stock.

Publication date: 23 May 12:14 PM

Bitcoin Will Hit $20K, CoinShares Says

Bitcoin is really capable of getting back to the all-time high at $20K per coin. This is what founder of Coinshares Danny Masters thinks on the matter. He is not a rookie in this business. His company has been creating investment products for the cryptocurrency market and conducting blockchain-related research for years. Mr. Masters believes in the future of Bitcoin and altcoins. However, he thinks the market is yet to pass a few development stages. 

Publication date: 20 May 08:38 AM

German Stock Exchange Börse Stuttgart Welcomes Cryptocurrencies

Soon enough, maybe this fall, German stock exchange Börse Stuttgart is going to start working with cryptocurrencies. For that purpose, the exchange is expected to use its branch. Trading cryptocurrencies will be implemented through the Bison app. The expected trading turnover is around 100 billion dollars.

Publication date: 17 May 12:00 PM

Bitcoin Goes Down, Getting Closer to 8000 USD/BTC

Earlier today, the world’s first and most expensive crypto currency was going down while continuing the downtrend seen a day before. According to CoinMarketCap, the BTC exchange rate dropped below 8300USD/BTC, though it recovered a bit later on. Over the last 24 hours, the currency lost more than 5% of its dollar value. 

Publication date: 16 May 11:51 AM

Bitcoin Rallies Despite Criticism from Buffet and Gates

This trading week, Bitcoin is unlikely to conquer another major threshold located at 10000 USD/BTC. The thing is that some Bitcoin investors were cooled down by the statements made by investment guru and billionaire Warren Buffett, founder of Berkshire Hathaway, as well as by Bill Gates, founder of Microsoft and one of the richest people on the planet.

Publication date: 10 May 09:05 AM

Will Bitcoin Rate Exceed $10K This Week?

This week, the BTC exchange rate may well break above 10000 USD/BTC, most of the experts interviewed by PRIME think.

Publication date: 09 May 12:51 PM

Bitcoin Prospects Look Vague Against Altcoins

The situation in the global market of cryptocurrencies has been changing for a while. Bitcoin seems to be gradually losing its status of the world’s biggest and most popular digital currency.

Publication date: 05 May 10:53 AM

Bitcoin Exchange Rate Goes Up Rapidly, Over $9600 Already

Over the last few days, the Bitcoin exchange rate has been going up continuously. On Thursday, the rate conquered two strong levels of resistance at 9300 and 9400 dollars respectively. On Friday morning, the rate changed to 9600 dollars and continued its way up to new local highs.

Publication date: 04 May 02:08 PM