GOLDMAN SACHS: Bitcoin could get close to $8,000

GOLDMAN SACHS: #Bitcoin could get close to $8,000

  • The red-hot cryptocurrency, which has gained more than 600% this year and is currently trading near $7,200 a coin, could threaten the $8,000 mark, according to a note sent out to clients on Sunday from Goldman Sachs technical head Sheba Jafari.
  • The cryptocurrency put in an all-time high of $7,592 a coin early Monday as traders continue to pile in following the announcement that CME Group, one of the world’s largest exchange groups, was launching bitcoin futures trading by the end of the year.
  • The gains also come as traders await the implementation of a looming fork in bitcoin’s network.
  • Disagreements in the cryptocurrency community over an upgrade known as SegWit2x could split bitcoin into two more cryptocurrencies.
  • Trevor Koverko, the CEO of Polymath, a cryptocurrency technology company, told Business Insider that folks could be buying in before the fork to get that free cash.

Bitcoin touched a record high of $7,592 a coin on Monday. Goldman Sachs’ head of technical analysis says the chart points to a possible run at the $8,000 level. Goldman Sachs thinks bitcoin still has more room to run.
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Bitcoin smashes above $5,200 to hit a new record on rumors China could reverse ban

  • Bitcoin hit a new record high Thursday with rising investor interest causing a rally for the price of the cryptocurrency.
  • The bitcoin price hit an all-time high of $5,231.28 in early trade on Thursday, according to data from industry website Coindesk.
  • Last month, Chinese regulators banned cryptocurrency exchanges with some of the largest in the country shutting down operations.
  • A report by Cryptocoinnews.com, citing Chinese state-owned news company Xinhua, said that bitcoin trading will likely resume with more regulation.
  • “Speculators are bullish on bitcoin’s value with the anticipation of China’s reintegration with global crypto markets,” Aurelien Menant, CEO of cryptocurrency exchange Gatecoin, told CNBC by email on Thursday.

Speculation that China could reverse the ban of cryptocurrency exchanges is driving sentiment.

Continue reading “Bitcoin smashes above $5,200 to hit a new record on rumors China could reverse ban”

Bitcoin smashes above $5,200 to hit a new record on rumors China could reverse ban

1,2,3  BOOM!!!

  • Bitcoin hit a new record high Thursday with rising investor interest causing a rally for the price of the cryptocurrency.
  • The bitcoin price hit an all-time high of $5,231.28 in early trade on Thursday, according to data from industry website Coindesk.
  • Last month, Chinese regulators banned cryptocurrency exchanges with some of the largest in the country shutting down operations.
  • A report by Cryptocoinnews.com, citing Chinese state-owned news company Xinhua, said that bitcoin trading will likely resume with more regulation.
  • “Speculators are bullish on bitcoin’s value with the anticipation of China’s reintegration with global crypto markets,” Aurelien Menant, CEO of cryptocurrency exchange Gatecoin, told CNBC by email on Thursday.

Speculation that China could reverse the ban of cryptocurrency exchanges is driving sentiment.

Continue reading “Bitcoin smashes above $5,200 to hit a new record on rumors China could reverse ban”

Yet Another Bitcoin Fork Aims to Take Power Away From Big Miners

Yet another Bitcoin fork aims to take some of the power away from the big-time miners

  • Read More: Bitcoin Just Split Into Two Different Versions – – “The current situation, where one erratic company in a totalitarian jurisdiction that is very hostile to Bitcoin has near monopoly domination over the manufacturing and distribution of the mining hardware that is required for the security of the global…
  • Bitcoin Gold is different from Bitcoin Cash and yet another upcoming fork—”Segwit2x,” scheduled for November—because those versions address issues related to speeding up the Bitcoin network to handle more traffic.
  • Because they have different mining algorithms, “Bitcoin Gold is not a competitor of Bitcoin,” h4x3rotab wrote.
  • Bitcoin Gold has a plan to introduce new address formats for the fork, h4x3rotab said, but that will come after launch and they will have to first entice users to migrate over to the new format.
  • On October 25 there may be three versions of the world’s most popular and valuable cryptocurrency: Bitcoin, Bitcoin Cash, and Bitcoin Gold.

Is Bitcoin Gold the people’s fork?
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