Bitcoin hits an all-time high of over $6000. What a milestone!
Bitcoin surged more than 5 percent to a record high above $6,000 today... Wow! :)
Welcome to my Cryptocurrencies Market Overview for Friday, October 20, 2017.
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Latest Crypto News - October 20, 2017
Bitcoin just surged above $6,000, a record
Bitcoin surged 5 percent to a record high above $6,000 on Friday. The cryptocurrency traded at $6,003.81 as of 11:48 a.m. in New York, according to CoinDesk.
Read more: cnbc.com
Other sources:
- Bitcoin Nears $6,000 For the First Time (Bloomberg)
- Quiet Surge: Bitcoin Price Sets New High Above $6,000 (Coindesk)
Bitcoin is heading to $10,000, CNBC survey says
The price of bitcoin could be heading to over $10,000, nearly half of respondents to a CNBC survey said. Just over a third agreed with JPMorgan Chase CEO Jamie Dimon who said "you'll pay the price" for investing in bitcoin.
Read more: cnbc.com
Goldman Sachs Will Start Bank Money ‘Stampede’ Into Bitcoin: Ritholtz CEO
Ritholtz Wealth Management CEO Josh Brown has said the “stampede is coming” for Bitcoin from banks - as soon as next year. In a piece on Reformed Broker, Brown, who is a legacy finance figure openly supportive of cryptocurrency, said Goldman Sachs is rumored to be the major institution to take Bitcoin mainstream with Wall Street.
Read more: cointelegraph.com
Bitcoin Price is Stuck in Sideways Momentum as $5,700 Remains out of Reach
Not much is happening with the Bitcoin price right now. More specifically, we see some sideways trading momentum again, which is not entirely uncommon right before the weekend. That doesn’t mean we will not see any more Bitcoin price action in the next 48-72 hours, but it is doubtful things will turn out in a positive manner. For the time being, reaching $5,700 remains out of reach for Bitcoin.
Read more: themerkle.com
Sberbank, Russia’s Largest State-Owned Bank, is Eyeing Ethereum Integration
Sberbank, a major state-owned bank in Russia, has joined the Enterprise Ethereum Alliance (EEA), to test the applicability of the Ethereum blockchain network on existing banking infrastructures and systems.
Read more: cointelegraph.com
XRP Price Notes a Small Gain but Reaching $0.25 Will be Very Difficult
Things are pretty much at a standstill in the world of cryptocurrency right now. None of the top cryptocurrencies is making any sort of gains or losses right now. It is true some currencies are struggling slightly, but there is nothing to be concerned about whatsoever. The Ripple price is trying to regain some of yesterday’s losses, although that is much easier said than done, to say the very least.
Read more: themerkle.com
Star Jets International Now Accepts Bitcoin Payments
Star Jets International LLC now accepts bitcoin payments for private jet flights. The company is a wholly owned subsidiary of Advanced Defense Technologies, Inc. Customers who use Star Jets get to leverage all the advantages of using a corporate jet, according to an Econotimes article.
Read more: bitcoin.com
Top 5 Ethereum Wallets: Choose the Best Wallet for Speed and Safety
Ethereum is a fast, useful cryptocurrency, key in funding initial coin offerings (ICO). Learn the best wallets that ensure fast and safe transactions.
Read more: cryptovest.com
Low-Tax, Low-Regulation States Have Highest Mainstream Interest in Bitcoin
Residents of Nevada, Texas and New Hampshire are more interested in Bitcoin and cryptocurrency than the rest of the country, according to Investing.com. Coincidentally, these are also the states with the most favorable tax and regulatory environment for blockchain businesses.
Read more: bitsonline.com
Wall Street Can No Longer Dismiss Bitcoin, Demand is Too High
It has become increasingly difficult for Wall Street to dismiss Bitcoin and the cryptocurrency markets, given the $95 bln market cap of Bitcoin, rapidly rising user bases of cryptocurrencies, and the increasing mainstream adoption of Bitcoin as a robust store of value.
Read more: cointelegraph.com
Ether Prices Hold Above $300 as Fork Fears Fade
Ether prices continue to hold strong despite technical headwinds. At press time, the ether-US dollar (ETH/USD) exchange rate is roughly $305, up from a low of $287 in the wake of a recent software upgrade. And while the price may be down from a peak of $350 in the run-up to the release, the relative price stability may be impressive due to the supposedly shaky state of the code.
Read more: coindesk.com
Ethereum Network Handles Record transactions Without Congestion
The Ethereum network manages to handle nearly 500,000 transactions every 24 hours, a significant increase since the levels before the summer. The uptick in volume was significant right after the Byzantium hard fork passed on October 16th.
Read more: cryptovest.com
It's exciting, but the altcoin market is somewhat floundering since it spiked early this year... I'd love to see some of these gains spread out amongst other coins, especially since many of the altcoins are much more practical for daily use than BTC. It'll be fascinating to see what happens going into December and into early 2018... will altcoins have another major rally (against BTC value)?
Because though they are staying somewhat robust to the fiat value, they have been continually losing MASSIVE value to BTC for months. For instance, I started buying STEEM near 100,000 satoshis. It's almost 5 times less its value to BTC now!! This is a bit concerning, as I would have been better off just holding BTC this whole time. Same for all the other altcoins (except, notably, Bitconnect Coin, but that's another whole can of worms as I'm not convinced it isn't an elaborate ponzi.)
Either way, I will continue to be bullish on STEEM and keep powering up as I'm able.
Fully agree. I see Bitcoin only as a store of value, but I'm still not sure if it will ever be used to pay for a cup of coffee. Possibly with the lightning network in the future.
Steem, for example, is much faster (3 seconds confirmation time instead of 10 minutes) and has no fees.
I will also continue to be bullish on STEEM. $1.00 seems a solid support level. It only keeps getting cheaper relative to BTC. I expect higher prices once SMTs are live early next year.
I also won't buy a cup of coffee with gold. I'm bullish on bitcoin, but not on steem. As long as the whales push by voting the people who are always cashing out, the pressure on steem will hold on. I wonder whether whales are so foolish to undermine their on investment.
But: As soon as 10000 people as you and me will hold more than 10000 SP tight in their hands, the exchange rate for steem will be much higher. So I hope that many whales will cash out soon.
Then steem will become a cheap pick. I promise to collect all my rewards paid in SP for the whole next year and I promise to hold 10000 SP as minimum (currently I am at 8500, but I will reach 10000 in the beginning of the next year).
Once BTC fork speculation goes away, end of this year and early next year, we may see another altcoin uprising. However, STEEM needs to be distributed to large number of people to release some pressure on selling. People used to hold hundreds of BTC or 1000s of LTC, as price rose, those coins changed lots of hands. Now very few people hold large number of those coins and can't consistently sell. A problem with STEEM is too much transparency, people should not know how I buy coffee and my buying habits. However, this can easily solved with a third party apps.
Great comment, and an interesting point. I agree that good development moving forward should mitigate some of the problems in the flow of value.
Amazing, time to buy more Steem with BTC then !
That's what I did the other day :D
Absolutely! :-)
6000$ then drop a bit after 25th Oct then continue to rally up to the hardfork in November \m/
It's a double win for bitcoin today. Bitcoin surged past $6,000 and the market cap hit $100 bln!
I didn't see it hit 6k yet its been close by always $15 to $30 short of hitting it.
It depends on the exchange. On Bitfinex BTC made an high of 6054.
Bitcoin investment is so much profitable, experts saying it's value will reach $10000 in the end of the year. It will soon recover the fork fear. As well as Ethereum and Litecoin are also worthy for investment.
Thank you for sharing @penguinpablo, may the bitcoin keep rising and steemit continues to grow throughout the world.
Kinda surprised me that Texas is killin it. 6000 WOOOOOOOO HOOOOOOO!
It shouldnt. Austin is the mini-silicon valley.
And Austin is weird.(ie alternative is cool).
Plus Dallas brings in a lot of businesses and young smart people...
So, of course it is killin it. I wish I was there right now i stead of stuck in Detroit.
Don't believe the news or media or stupid liberals that Texas is backwater anything.
@em31 spot on comment man. I'm from Dallas area originally. I love the Austin area and yeah, it's really progressive/alternative. People have some pretty silly impressions of what Texans are like and fail to consider how massive of a state it is. There's a huge spectrum of biomes and cultures across the lone star state!
Thanks!
Hey...prolly just a typo or subconcious... But you morphed my name with @m31
Ours are quite similar, but two very different folks!!
I lived in Plano for a summer and had college friends that went to UT Arlington. Before our move up north we would be in Dallas 2-3 times a year.
Peace
Hahaha!! Whoops... odd what the brain will do XD
Wow, that's pretty crazy @em3. I grew up in Allen my whole childhood and graduated from AHS. My parents live near Bethany Dr./ Jupiter Rd. Small world!
And sorry for the out-of-turn mention @m31 :D
Cool!
Hehe. I just got notification about this. Made me laugh. ^^
Lol
$7000 sooon
Meanwhile Zimbabwe at $10015 per BTC already
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