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Bitcoin Hits $20,000 Per Coin, Capping Year of Enormous Growth

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Bitcoin Hits $20,000 Per Coin, Capping Year of Enormous Growth 461 Total views 6 Total shares Bitcoin  has cemented its glory year by hitting $20,000 barely a month after achieving five figures for the first time. After several weeks of  considerable volatility , mixing rapid growth with sudden declines, momentum finally boosted Bitcoin to its new historic high. Outperforming almost everyone’s expectations in 2017, Bitcoin prices received a decisive push from Wall Street regulated futures trading, as well as the imminent implementation of the  Lightning Network . CBOE launched its Bitcoin futures product  on Dec. 10 , and CME (a much larger market) will begin trading the cryptocurrency’s futures on Monday, Dec. 18. Markets reacted to rising prices with a snowball effect, triggering mass consumer interest in both buying and trading the virtual currency. Over the last few weeks, the Coinbase app has been at the top of Apple’s “most downloaded apps” several times. Bitcoin has grown
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Bitcoin Under Increasing Scrutiny on Island of Bali

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Bitcoin Under Increasing Scrutiny on Island of Bali NEWS Bitcoin is under heavy surveillance on Bali, an island in the  Indonesian  archipelago, according to  local reports . Central Bank officials are seeking to crack down on the use of the cryptocurrency anywhere in the nation. Causa Iman Karana, head of Bank Indonesia's representative office in Bali said: "We found out from some postings on social media that Bali appeared to have become a haven for Bitcoin transactions. The next step is we will ban them as mandated by the law. We ask them not to use it anymore. Along with the Directorate of Special Crime Investigation unit, we will enforce the rule that all transactions in Indonesia must use rupiah.” The country had previously been  reported as having significant local adoption  of Bitcoin usage, but recent reports indicate that the government is  trying to curtail the use of digital currencies . The risk of money laundering and criminal activity has led to the incr
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Bitcoin Price Will Hit $1 Million, Says Social Capital Founder

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Bitcoin Price Will Hit $1 Million, Says Social Capital Founder 23263 Total views 550 Total shares Chamath Palihapitiya, founder of Social Capital and co-owner of the Golden State Warriors,  voiced his opinion  on the value and potential growth of  Bitcoin  in an interview on CNBC on Tuesday. The business leader, who first invested in Bitcoin in 2012, indicated that he sees the price of Bitcoin rising massively in the next 20 years as adoption continues to grow. His analysis echoes  other commentators and investors  who have seen the potential for Bitcoin’s price to reach levels close to $1 mln. Palihapitiya explains his prediction as based on the evaluation of Bitcoin as a  store of value  comparable to  gold . He said: “This thing has the potential to be comparable to the value of gold…This is a fantastic hedge and store of value against autocratic regimes and banking infrastructure that we know is corrosive to how the world needs to work properly…I think this thing is a $100,0
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