Gatecoin is a Hong Kong based cryptocurrency exchange that claims Bitcoin’s price is to reach $5000 by the end of 2017.
Headlined “Bloomberg Daybreak: Asia,” this price prediction was made during an interview with Aurelien Menant, Gatecoin’s CEO, and founder. He said that the markets are responsible for driving increased interest in Bitcoin.
“Another factor that is very important is the arrival of more and more institutional investors in bitcoin,” Menant said. “Historically we used to have a few hatch funds trading bitcoin in Europe and the U.S. Now we have around 60 or 70 of them that are starting to trade bitcoin.”
Some funds are now dedicated to digital currencies. “So, this is definitely driving a surge in the price,” he said.
Bitcoin cost has surpassed $12,000 in both South Korea and Japan, two noteworthy bitcoin markets that are responsible for around 74 percent of worldwide bitcoin exchanges.
Bitcoin In South Korea: $12,653
In South Korea, bitcoin is being traded at a premium of over $1,270. Though, not as high as rates provided by ETNs (Exchange Traded Notes) or GTBC (Greyscale Investments), it still significantly expensive to buy bitcoin in South Korea or Japan.
At its peak, bitcoin accomplished an untouched high in South Korea at $12,653, as the worldwide bitcoin cost neared the $11,000 check.
Dealers in South Korea still invest into bitcoin with a high premium despite South Korea being the third biggest bitcoin market because the supply of bitcoin from the local market is low and the demand has increased at an exponential rate in the course of recent months.
Bitcoin In Japan: $11,827
While the premium in Japan isn’t as high as South Korea, it’s still higher than the premium of other countries, such as the US.
At the time of writing, Bitcoin is being exchanged at over $11,500 in Japan, roughly $1,000 higher than that of the worldwide bitcoin normal cost.
As indicated by a few crypto market suppliers including CryptoCompare, the Japanese bitcoin exchange market represents 64 percent of worldwide bitcoin exchanges, almost twice as large as the US. However, the worldwide normal bitcoin cost is often based on the exchange rate in the US, and the cost of bitcoin in Japan is regularly 5 to 8 percent higher than that of the US.
As the biggest bitcoin market, Japan needs to have the highest liquidity and the supply of bitcoin. Subsequently, there should not be a high premium of 5 to 8 percent in the midst of strong rallies, because being the largest market, it should have adequate liquidity and supply to address the developing interest from financial specialists.
For a long time, experts have scrutinized the zero-fee exchanging stages of Japan, and the likelihood of wash or bot trading. It is likely that like China, trading volumes in Japan are swelled, given its high premium rates.
98 of the top 100 cryptocurrencies have badly dropped within the 24 hours and once again we’re seeing a day in the red for the cryptocurrency markets. The price of Bitcoin headlined the retreat by seeing an 80-day low decline, and other top coins have also fared quite poorly. The cryptocurrency market cap has declined by more than $60 billion and is currently valued at $292 billion, which represents a single-day reduction in the price of all cryptocurrencies.
Bitcoin Price Falls Below $7000:
The decline has reduced the price of Bitcoin by almost 23% and has brought the most leading cryptocurrency to an 80-day low. The price of Bitcoin is currently trading at $6,307, with the market cap of $106 billion only.
Fintech platforms like Square’s Cash App and Robinhood Crypto will probably play an important role in the coming time. Robinhood’s cryptocurrency trading platform could literally see a speed in its recovery real soon. Plus, other financial institutions are also trying to ban their customers from using their credit cards to buy these cryptocurrencies.
Ethereum Price Drops Below $700:
Well, many investors believed that the downturn in the cryptocurrency market would provide an opportunity to Ethereum for finally becoming the largest cryptocurrency and surpassing the Bitcoin’s price. But it didn’t go so well in that case because the price of Ethereum also got largely tracked with the Bitcoin’s decline.
The price of Ethereum dropped below the $700 mark today and is currently trading at $618 with the market cap of $43 billion, which clearly shows a single-day decline of 27%.
Drop in The Altcoin Markets:
Overall altcoins declined worse than the Bitcoin, which represents that diversifying into the altcoins won’t essentially provide the investors with a hedge against the declines in the major cryptocurrencies market. Both, the price of Bitcoin Cash and the price of Ripple has declined by more than 20%, which reduces the 3rd and 4th largest cryptocurrencies to the current values of $0.62 and $820, respectively.
Number 5th cryptocurrency in the ranking, Cardano, showed the worst performance as compared to any top 10 cryptocurrencies, as it has dropped by 23% and is currently valued at $0.28. Meanwhile, Litecoin and EOS have returned single-day declines of 24% and 27% respectively.
Stellar, which is ranked on number 8th has seen a decline of 25% today, which demonstrates the austerity of this downturn. NEO and NEM have finished out the top 10 with the declines of 34% and 24%, reducing their prices to $71 and $0.40.
Being the most popular decentralized cryptocurrency, bitcoin is an online version of cash. This independent, peer to peer version of money is not directly connected to ready money. You can not buy it at ease. You will have to use different online exchange sites to transfer or convert your cryptocurrency to fiat currency.
Pay pal has been the biggest ally for bitcoin for quite some time. It allows you to easily and quickly convert your bitcoin amount to fiat currency- USD or any local currency you wish for.
But not all of these sites are safe and convenient to work at. These cryptocurrencies- bitcoin is decentralized. Means, they can not be traced. The biggest con of this feature is that it can create a lot of fraud and scam during the transfer. The risk is pretty much very high. Buyers can complain that they didn’t receive the bitcoin in the transaction. And the seller will not be able to prove his verdict that the transaction was performed. In result, he will have to refund or reperform the already done transaction. The transaction fee of these is comparatively higher too.
How do I send my bitcoins to pay pal?
Payticoins.com provides a secure, easy and free transaction of these cryptocurrencies. Bitcoin being abstract, they believe in reducing the gap between these currencies and the users- you!
They want to revolutionize the way in these crypto coin exchanges are being done around in lots of companies. So, in order to provide secure yet anonymous transactions, PaytiCoins.com aims to aid this revolution of crypto coins in the world today.
Why PaytiCoins Exchange?
Though there are a number of platforms supporting the transaction today. The choices and compromises lay side by side for you to choose from. But why choose Payticoins? So, here are some of the whys:
A large number of companies and operators is maintained, for you to choose for the exchange.
With exchange time as low as 1 minute to 5 minutes.
Making sure there are low commission rates, varies depending on the company you perform the exchange with.
10% referral value to the clients in their referral link through our referral system.
Paypal to Bitcoin- Step by Step
For the transaction, there are few easy and remarkably effortless steps you will need to follow.
Open the page to PaytiCoins.com from your browser.
It will not require you to make any account requiring any of your personal information. Supporting the protocol behind the digital currencies, we give you the opportunity to carry out exchange by just providing your valid email address. That email will be confirmed for the validity first and a unique wallet will be created in your desired currency. Later, after the transaction, a confirmation on your provided email will be sent.
You will directly jump to the page where it will require you to add the cryptocurrency type and amount.
Send from, choose – cryptocurrency (Bitcoin)
Transfer to – Pay Pal
It will then require you to set the amount you need to convert.
Enter the number of Bitcoins you need to convert in the fiat currency
Then hit- Continue Exchange
This will then show you the Receive Amount in the relevant currency you choose to get transferred to.
The two most important and vital things we will require from you will be your PayPal account address and your email address. These addresses will be verified before the transactions will be performed. And later after the transaction, a verification email will be sent to the address too.
Pay Pal Account
Hit- Become Exchange
The system will then generate you a secured QR code. It will show you the processing and the number of BTC that are being transferred. This will also display the bitcoin address of the user.
It will require you not to shut down the window until the status prevails as ‘Awaiting Payment’ and is not identified. It will require a couple of minutes until you receive the stated amount in your transfer.
You can always counter check the transaction by scrutinizing your Bitcoin account and verifying email sent to your address of the transaction. The bitcoins sent will be shown in the ‘minus’ with the same amount you chose.
Now you can simply enjoy your transacted amount in your Pay Pal Account with no reservations.
Chinese cryptocurrency exchange Huobi has actually apparently gotten the managing stock interest in Hong Kong-based Pantronics Holdings Ltd. through a backdoor listing offer, the local news outlet reported Aug 28. A backdoor listing, which is also called a reverse takeover or Initial Going public (IPO), permits an independently held company to acquire an openly traded company avoiding the public offering process, regulatory concerns, and due diligence. Upon completion of the deal, the buyer gains automatic inclusion on a stock exchange.
Crypto Exchange Controller
Huobi obviously acquired 74% of Pantronics Holdings Ltd., makings the crypto exchange the real controller of the power-related electrical and electronic items producer. Pantronics stopped trading its shares on the Main Board of the Hong Kong Stock Exchange (HKEx) due to a “possible deal to be made under Rule 27 of the Hong Kong Codes on Takeovers and Mergers.”
When asked whether the exchange means to conduct a backdoor listing, Huobi CEO Li Lin reportedly said that “it is simply a report.” Li stated the exchange service is presently not totally compliant on a global scale, so a backdoor listing would be really difficult to run. Li added that he believes the “standard financial market will accept the blockchain economy in the future.”
Report of Caixin Media
Caixin media reported that the HKEx was preparing a revision of guidelines to take stern measures towards backdoor listings within its efforts to clean up the market and enhance the quality of listed companies. While the proposed steps are apparently not aimed at obstructing backdoor listings, they mean to ensure that companies do not skirt guidelines and undermine investor confidence.
HKEx Chief Regulatory Officer’s Remarks
HKEx’s chief regulatory officer and head of listing commented:
“We essentially allow a backdoor listing. But what [we want] to guarantee is that when this takes place, the quality of the possessions and the ultimate combined company to be listed on our exchange have been through a suitable due diligence and vetting process.”
Houbi Token is presently trading at $2.50 according to Coinmarketcap, having actually gained practically 9 percent over 1-day period, while some media attribute the token’s rate surge to the current acquisition. Pantronics Holdings Ltd.’s market capitalization is currently over HKD 927 million ($119 million).