Bitcoin Prices Still Firmly Above $7000, Without China

Bitcoin Prices Still Firmly Above $7000, Without China

Bitcoin Prices Still Firmly Above $7000, Without China

Bitcoin is unstoppable these days, passing one “technical” test after another, crossing the $5000-mark, the $6000-mark, and the $7000-mark in a matter of weeks. The “people’s currency” has gained 27.33% in seven days, as market volume increased.

What’s behind the digital currency’s breathtaking run?

Certainly, it isn’t the lifting of regulations which halted trade of digital currency in China, as some expected (back in September, China banned Initial Coin Offerings (ICOs) and shut Bitcoin exchanges, sending the digital currency’s price tumbling from $5000 to close to $3000).

Instead, there have been a number of positive developments that helped build investor confidence and hype in the “people’s” currency. One of them was the stepping up of government regulations in US and Japan to protect the cryptocurrency markets from possible manipulation, while limiting the supply of new coin offerings.

*As of Saturday, November 4, 2017, at 10.30 am

Another development was the change in Wall Street’s attitudes towards Bitcoin, with hedge funds cozying up to the digital currency; and CME introducing Bitcoin futures.

Then there was the renewed investor interest in technology in Wall Street, following a string of strong earnings reports from Amazon, Google, Facebook, and Apple, sending NASDAQ to new highs, and re-igniting hype for technology investments.

Source: 11/4/17

Meanwhile money, the fuel behind the multiple asset rallies, continues to be cheap, as interest rates continue to be cheap. This means that investors do not have to sell one asset to buy another, as was the case back in the old days of “normal” interest rates.

Apparently, Bitcoin can survive and thrive without China, provided there are developments that keep the confidence and hype for the digital currency alive, and and provided that money remains cheap.


Author Panos Mourdoukoutas


Posted by David Ogden Entrepreneur
David Ogden Cryptocurrency Entrepreneur


Cryptocoin and Blockchain Article Roundup – Feb 21, 2017

Cryptocoin and Blockchain Article Roundup – Feb 21, 2017

Here's an article that ties one idea, the DAO (Decentralized Autonomous Organization) in with the more recently popular topic of Blockchain. It really does make sense. The idea of the autonomous business entity won't die. Read some of the latest discussion about it in this article:

Rebranding The DAO: The Contentious Blockchain Concept is Back

Monero, the fifth largest digital currency by market capitalization, still struggles to build a 'white hat' reputation simply because of its advanced privacy feature which hi-brows think attracts 'the wrong crowd'. Read the latest discussion on the issue here:

Drugs, Code and ICOs: Monero's Long Road to Blockchain Respect

Oh goody-goody. California lawmakers want to protect charity raffles from the evils of bitcoin. It's a good thing they're not wasting time repairing dams. Read about it here:

California Lawmakers Consider Barring Bitcoin from Charity Raffles

New algorithm promises to make slow the trend toward centralization of Z-cash miners, thus democratizing the process. Read about it here:

How the Equihash Algorithm Could Democratize Zcash Mining

British Parliamentarians will discuss (or is it "debate"?) key issues about the status of bitcoin, digital currency, and the blockchain as it relates to money creation in English society. The UK government generally is pro-bitcoin but the banking establishment has been rather reticent to embrace it. Read about it here:

Money creation may well be the biggest economic issue of our times.

Could blockchain-related opportunities in one industry result in a talent and brain-drain from one industry to another? Probably not to any significant degree because the technology is creating opportunity almost everywhere. But it is creating some notable movement of some high achievers. Read one such example here:

Blockchain Capital Lures Bitcoin Analyst Away from Wall Street Firm

Well Buckaroos…that's our Cryptocurrency & Blockchain Article 6 Pack for today. Thanks for dropping by. You're also invited to join us over on Markethive where you'll find a vibrant digital community on online entrepreneurs. Our community if free to join and if you're promoting a business, brand, service, or cause online…Markethive has a great blogging system that will give you massive 'Reach'.

Also, if you need a freelance copywriter to help you with your business, contact me…Art Williams. Email here.







Characteristics of Money-Does Digital Currency Have Them?

  Money, according to Wikipedia is any item or verifiable record that is generally accepted as payment for goods and services and repayment of debts in a particular country or socio-economic context, or is easily converted to such a form.  

So if that is true, then MONEY needs to have some undeniable characteristics.  Typically there have been five of them through the centuries for any money to last any length of time. Scarcity, Recognizeability, Divisibility, Fungibility, and Portability are the original five, but there have been some more added over time and by necessity,  that will be mentioned further in the blog.

                                                 Image result for pile of money cartoon

Scarcity is one that has to be in place for money to work properly in any economy.  If it wasn't there would be no value to it and it would not be trusted as payment for goods and services.

  Recognizeability is another major factor in what money must be.  Whether it is paper, or coins, or cacao beans, it must be recognizable by the accepting party to trust it as payment.

  Money must have Divisibility be into smaller units, but still equaling the same value when the smaller parts are together in the same payment.  The decimal system has made this very simple with the money we know today.

  The next characteristic has to be present, almost more so than the others, for money to work as it is intended.  Fungibility is the property of a good or a commodity whose individual units are capable of mutual substitution.  So basically it has to look the same across the board according to the denomination.  It's kind of hard to tell now what the different money is and what it looks like anymore because governments are constantly changing the printing or design of it.

Portability is the last of the original 5 but still very important.  Money must be easy to carry around with you.  Would a 55 gallon drum of oil or a 100 dollar bill be easier to carry? Yeah, no brainer right?

Durability has come into play as a factor for any money to valuable in the different economies of the world.  For instance, coins had to be able to withstand time and wear.  But then over time the power that money extended to governments and rulers, made quality of that durable money became an enormous factor in its value and if it could be trusted. 

Today digital currency has brought with it some more characteristics that need to be in place.  Security being of great importance, there has to be a very secure way to transfer digitally from one party to the other.

Stability is the outcome, or benefit of a secure system that delivers digitally around the world through the technology of a block-chain that is decentralized and independent of control be any governing body.

We are about to to be a part, NO, WE ARE ALREADY IN one of the biggest disruptions of all world currencies the planet has ever seen.  The Roman Empire experienced it and is no more because of it.

Currency is the language that allows for the expression of transactional value between two parties.  So, in the digital age we are in, the coming of digital currency was always inevitable.  Thanks to Satoshi Nakamoto, known for inventing bitcoin, implementing the first block-chain, and deploying the first decentralized digital currency, it is becoming a reality.  Learn more here.


Patrick Tate

Profile photo