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What a week in crypto! The grandfather of cryptocurrency, Bitcoin breaks 3-year highs as the asset erupts through the $18K mark this morning and sees all-time highs in its total market cap. With the current state of affairs taking place, and Covid-19 crippling areas of our traditional way of life, it's becoming clearer now more than ever that cryptocurrencies are on their way to becoming mainstream.
With financial experts, large corporations, traditional investors, banks, and payment giants all beginning to support digital assets, in particular Bitcoin, we've seen a major breakthrough in crypto this week. Each day is looking more and more like we will be adopting cryptocurrencies as one of the main sources of finance in the modern world. Let's jump into the latest news in cryptocurrency!
The Only Way is Up from Here
It's been trending on Twitter, it's even been on the BBC news. Bitcoin has reached a 3 year high at $18K a BTC. You can almost hear the cheers of HODLers across the globe. Bitcoin believers recognise the intrinsic value for both Bitcoin and blockchain as it provides transparency through the dubiety that Fiat money possesses. New investors 'flock' to buy the asset. Read more.
Bitcoin Market Cap Value at an All-Time High
Before hitting 18K, BTC has just reached its all-time-high market cap value and this is just as important as its price value! How can the market cap be larger than ever if the price of BTC has been higher in the past? It comes down to the number of Bitcoins being mined, they're more in circulation today, with 1.8 million more bitcoins on the chain than the all-time high BTC price of 20K in late 2017. Read more.
BTC Volatility Analysis
This year, Bitcoin's price has risen by 50% and an outstanding 9% in the last 24 hours. But what came up, quickly went down, as we also saw a $1000 drop in a matter of minutes! It looks like there's a pull and tug between investors rushing in and traders cashing out, but such price volatility is considered normal in such a bull run. Read more.
BTC Technical Price Analysis
According to recent studies, BTC has only reached 0.44% of its potential, and when as little as 10% is utilized, there's been talk of hights of $400,000 a BTC. Check out this newly released comprehensive analysis of bitcoin price predictions. Read more.
Another Bank Bites the Dust
Along with Singapore's largest bank DBS, Belarusbank the largest bank in Belarus will be providing a cryptocurrency exchange service, allowing customers to buy Bitcoin using Visa cards. Read more.
Voting on Chain
A little late for the US election spectacle, but Waves Enterprise has just announced the public release of its blockchain voting system! The technology has recently been trialled in Russia during its local and parliamentary elections. Could you see our political voting system on the blockchain? Read more.
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