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Wednesday, 22 November 04:33 (GMT -05:00)



Foreign exchange market

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.

 

 

 

 
According to the analysts working for Pro Finance Service, Bitcoin has already gone up in value by 740% over the past 12 months and by a stunning 1600% over the past 24 months. History shows that sooner or later the governments gain control over everything that the private sector comes up with. Most likely, this is something that the global market of digital currencies will have to face further down the road.
 
While some experts call Bitcoin and other cryptocurrencies a big market bubble, others call them one of the greatest innovations of modern times, with really considerable investment potential. Chances are, people will get used to the technology and let it inside many economic sectors and fields of their lives. However, in this case, Bitcoin may lose most of its value.
 
NordFX experts report that Bitcoin set another all-time high at $6200 the other day. And even though it’s currently trading well below this area, the market bias still seems to be bullish. Anyways, 1BTC is currently 3 times as expensive as an ounce of gold! Many experts believe that Bitcoin is yet to set new price highs in the coming years.
 

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Governments Will Determine the Future of Cryptocurrencies

While market participants don’t know how to treat Bitcoin and other cryptocurrencies and are trying to get used to them, the fate of cryptocurrencies is being decided by governments behind the closed doors. They are also trying to figure out the best way to approach digital currencies. Apparently, this is something new to both central banks and politicians. Since the scale of the cryptocurrency market and the pace at which it has been growing so far is really impressive, they have to come up with a well-though-out approach to the market.
 
Chances are, no government is going to put up with anonymous payment systems that make tax evasion and illegal transactions a piece of cake. In theory, central banks may join the club and start their own cryptocurrencies to make rival to conventional ones like Bitcoin. That’s one of the key reasons why this is definitely going to impact the entire financial world in the future, whether Bitcoin’s peers succeed or fail.
 
However, it will be rather difficult to question the leadership of Bitcoin, the world’s first and biggest cryptocurrency to date. At the same time, the legal side of the matter, as well as the way international governments treat digital currencies, is still ambiguous. For example, China has banned Bitcoin exchanges to prevent Chinese from evading taxes and withdrawing their capital abroad through Bitcoin and other digital currencies.  On the contrary, Japan has legalized Bitcoin. Most probably, Japan is trying to become a fin-tech center.
 
As for the USA, the U.S. government is said to be trying to follow in Japan’s footsteps when it comes to regulating the sector, but the chances of Washington making the same decision are still rather low. Still, Bitcoin doesn’t have to win each and every battle to win the entire war. The very fact that the world’s third biggest economy (Japan) has approved Bitcoin is a major victory itself.
 
By the way, the Silicon Valley is rumored to be investing heavily in cryptocurrencies and related technologies. Experts say, it’s all about cyber security. The technologies the digital currencies are based on can really take cyber security to the next level, they say.
 
At the same time, more and more developers want to oust the U.S. Dollar from the position of the world’s most significant reserve currency and replace it with cryptocurrencies.
 
On the other hand, there is no reason to expect Bitcoin to replace conventional payment means emitted by central banks. From the standpoint of governments, a limited amount of anonymous transactions may seem acceptable. However, legalizing a big-scale system of anonymous payments is a completely different story.
 

 

 

 

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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 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

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.

Publication date: 26 October 12:00 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