Top news and views about Bitcoin and Cryptocurrency for 17 Mar 2017
Bitcoin Price Maintains Stability at $1225, Resilient Towards ETF Ruling
On March 10, the US Securities and Exchange Commission officially disapproved the Winklevoss twins’ Bitcoin ETF COIN. Contrary to the predictions of most analysts, Bitcoin price recovered almost immediately thereafter, stabilizing at $1,225.
Until earlier this morning, Bitcoin price maintained its stability at $1,225. After dropping to nearly $960 upon the announcement of the SEC, within minutes, Bitcoin price bounced back to $1,150 and rose to $1,225 over the past few days.
Today, the Bitcoin price reached $1,257 at its peak on most major Bitcoin exchanges including Bitstamp, Kraken and Bitfinex, taking a step closer towards hitting 2017’s year-to-date (YTD) high of $1,290, which was achieved days before the disapproval of the Bitcoin ETF.
An increasing number of investors voted in favor of the SEC approval in the week leading to the SEC’s decision. Optimistic analysis from leading financial institutions including Bloomberg led investors to believe that the COIN ETF will most likely be approved, as previously reported by the Cointelegraph.
Full story at http://bit.ly/2ng2iPe
Dash Shock Growth Sees Altcoin $100 Barrier Breached
Privacy-focused altcoin Dash has further increased its exponential gains to surpass $100 per coin, having shot up 25 percent in 24 hours.
Defying even its own developers’ expectations, the asset has surprised investors and the wider community, again and again, jumping from $23 to $100 in just one month.
While Vinny Lingham described altcoin markets this week as a bubble and warned of an imminent crash, Dash has continued growing without significant retraces.
Nonetheless, as other coins in the top 10 level off, several having themselves set new highs, Dash developers have publicly admitted their coin’s surge has left them underprepared.
Full story at http://bit.ly/2ng2m1A
Ethereum Price Hits $40, Darling Of Altcoin Market Up Almost 50 Percent
Ethereum price (ETH) has soared past $40 in the last 24 hours as the altcoin market continues to attract frenetic activity.
The biggest altcoin by market cap shot up by almost 50 percent since Wednesday, with recent development announcements and Bitcoin’s precarious network state among the reasons being given for its success.
Ethereum price is now almost twice of the all-time high it set in 2016 prior to the collapse of The DAO.
Full story at http://bit.ly/2nfSu7I
Hard Fork Will Slow Bitcoin Price Down, $3,000 Target Less Likely: Vinny Lingham
With the ETF decision out of the way, the focus in the Bitcoin community has turned back to the scaling debate. While some proponents of an increase in block size are in favor of a hard fork, South African Bitcoin entrepreneur Vinny Lingham feels that this would negatively impact Bitcoin.
Scaling arguments
The Bitcoin network seems to be choking at the moment, with unconfirmed transactions piling up, transaction fees shooting through the roof and a general sluggishness across the network. Microtransactions have more or less ended, with high transactions fees making them unviable. Everybody agrees that there is a problem but unfortunately, consensus eludes the Bitcoin community on what the solution should be.
The Core team believes that retaining block size at 1 MB is crucial to maintaining the distributed nature of the Bitcoin network, while others advocate increasing the block size to increase the network capacity.
Full story at http://bit.ly/2nga3Vp
Prepared by @SydesJokes
Original post from: http://CrowdifyClub.com/SydesJokes