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The price of bitcoin has finally surpassed $8,500 and all major coins are also struggling to hit their all-time-highs, which shows that the cryptocurrency market is finally seeing a recovery. The market has been seeing its longest downfall since December and the cryptocurrency market cap altogether dropped by $18 billion recently, however, things are now getting rebounded once again.

Bitcoin Price still struggles to surpass $9,000:

On Tuesday, the price of Bitcoin made another push and was trading at $9,000, which demonstrated the significance of its mark but after not so long, it got stuck at $8,999 and started to flip once again. This decline in the price of Bitcoin continued till the early morning hours throughout Tuesday and BTC ultimately experienced a slight bump by hitting a low of $8,313. Bitcoin is valued above $8,800 at this very moment, which means that it has got the market cap of $148 billion with 1% upsurge in its worth, but still bitcoin struggles to surpass the $9000 mark.

 

Upsurge in Ethereum Price:

The price of Ethereum has seen an upsurge once again, as it was declined by 4% on Tuesday, but at the present time, it’s priced at $864. Ethereum has now increased by 1.6%, which translates that it has the market cap of $84 billion at this time. Despite the fact that it has declined recently, the looming introduction of CryptoKitties in China has to be monitored by the investors of Ethereum as it could provide the price of Ethereum with a very little bounce.

Altcoin Charts:

100 largest cryptocurrencies of the market have managed to stand against the US dollar which ended up in the favour of altcoin markets, in which few cryptocurrencies that showed a single-day gain didn’t rank in the market cap top 10, whereas the top cryptocurrency bitcoin, struggles to achieve its all-time-highs.

The price of Ripple has seen a 1.3% decline, which indicates that the investors are becoming more proficient at extricating information that is helpful for the Ripple company. In the meantime, the price of Bitcoin Cash is currently trading at $1,282 and has seen 3.60% upsurge.

The sixth one on the ranking, Cardano has borne a 0.58% upsurge in its value and is now trading at $0.37. A serious challenge is now being faced by the Cardano’s ADA token from EOS, which has the 9th largest market cap, $6 billion.

The price of Litecoin has seen 15% upsurge in the value which means it’s currently valued at $182, while NEO which is on number 8th in the ranking is priced at $113 with a 0.75% upsurge.

IOTA and Stellar have seen a 3.8% and 6.7% upsurge in the price respectively and their prices are valued at $1.8 and $0.5 individually.

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2 thoughts on “Bitcoin Price: Top Cryptocurrency Struggles to Surpass The $9,000 Mark

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An In-Depth Analysis of Blockchain Technology

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The Blockchain is the underlying technology of all the cryptocurrencies – mainly Bitcoin and Ethereum. The technology is full of potential to revolutionize everything that belongs to our daily life: billing systems, contracts to supply chains, and electronic medical records are just a few to name.

Understanding the Concept of Blockchain:

Blockchain primarily comprises of a system of distributed records which helps share information in a peer to peer fashion. The paramount reason behind Blockchain’s growing appeal is its security and verifiability. The system does not allow its users the deletion or updating the items from a Blockchain at later dates which ultimately creates a conclusive environment for digital transactions.

In essence, Blockchain works by allowing the users to add transactions to a block of code. After the addition of each transaction, a temper-proof audit log comes into place using a cryptographic hash. Meanwhile, all the participants at the blockchain network are presented with a replica of that block to help them validate their transactions.

Moreover, the technology also offers its users the automation of process such as payments, receipts, and invoicing for a smooth business process.

The Areas of Growing Interest for Blockchain:

Business interest in Blockchain is growing due to the potential game changing features it offers such as ‘digital mesh’. The Digital Mesh is basically an integration that occurs between individuals, content, services, and devices. The requirement of the new business model is to cope with the world that is tightly connected and Blockchain offers this exact same thing.

Another area of interest is the decentralized business networks. A large portion of the business is the dispersed participants across a network. For a smooth traffic of information from one node to another, we would need to automate the business transactions. Intriguingly, Blockchain can solve this problem for us.

The third most important area of interest is making business transactions more transparent. To achieve this, we need a way where we can conduct the transactions openly and with integrity. The Blockchain is the best option to do so.

What are the Key Areas of Use?

There are a number of areas in which Blockchain technology can help improve the modern business concept.

The ‘Smart Contracts’ of Blockchain allows a transaction to trigger an action within a business system without having the need of human assistance.

Example: Automatic creation of receipts for payments received.

Another area of use is the supporting product provenance. We can use Blockchain to track the progress of a product from delivery of raw materials to its final shape. Such as keeping track of suppliers, manufacturers, distribution, and finally the delivery to the end customer.

In conclusion, Blockchain undoubtedly has much to offer. However, the implementation of it is completely dependent on us. The sooner we find out a way to implement Blockchain, the better it is for our business community.

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Mining Rewards – What Will the Price of Bitcoin Price Do?

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1080ti GPU from Nvidia is considered as the benchmark altcoin mining hardware for everyone mining Bitcoin or other altcoins. Though ASICs demand awe, GPUs are the smart means to get into mining with low risk.

mining bitcoin

ASIC

You can easily buy a dodgy piece of fire hazard equipment with an ASIC, which would be good for only one or two algos, that consumes electricity, and might get bricked by the time you get it.

GPU:

  • You can get a piece of kit with a GPU that can be easily sold to gamers.
  • It can mine a world of old and new coins.
  • It obviously doesn’t sound like a jet engine and probably won’t impair your hearing – perhaps, it will get you cited by the city.
  • GPUs are the best for amateur miners.
  • Plus, the 1080ti is the sweet spot amid the GPUs.

Investing in cryptocoins or making an investment in tokens is extremely speculative especially when the market is mainly unregulated. So, anyone considering it must have to be ready to lose their whole investment.

Nvidia doesn’t really like miners, however, they surreptitiously like the huge price premium which they have formed for their equipment. Also, it won’t be critical for their brand since they will be getting hundreds of dollars for a 1080ti GPU.

  • Recently, a 1080ti was making as much as $8 per day.
  • At the same time, this also meant that a miner could get their investment back in almost four months.
  • The price of Bitcoin also rebounded from almost $6,000 to $10,000 – making the rewards for mining double.
  • Later, general mining rewards began to plunge, so did Bitcoin.
  • A 1080ti hit $1.40 per day in mining rewards before they started to recover together with the cryptocurrency market.
  • The increase has taken the regular mining reward to a present $2.40 a day.

Usually, alterations in mining rewards lead the price of Bitcoin and basically are a very valuable indicator of what will happen to the crypto prices in the future. A market which is much volatile as the cryptocurrencies, a trader wants as many indicators as he can get and it’s quite better if they are closer to the elementary demand and supply fundamentals.

Mining Rewards

  • Mining rewards are thoroughly linked to open demand for coins since buyers have to go to exchanges in order to get coins real-quick and miners can sell their coins there after they get them.
  • When demand receives the supply, mining rewards escalate instantly and because of mining’s nature, mining rewards are a complex yet delicate indicator of the market wide activity.
  • An overall upsurge in the demand will encounter a less flexible supply of coins – determined by the emission regulations of the several blockchains.
  • That, at the same time, feeds through into price and onto the mining rewards immediately.
  • You could attempt and watch hundreds of coins at the same time, however, the mining rewards will provide you with a clear index-like outline

Mining Reward Fluctuations

If you are looking for a good place to track mining rewards, then whattomine.com and nicehash.com are there; as they are mining profitability pages. These rewards vary over the long-term due to a complex series of features, however, their movement in the short-term is a robust sign of which coins are hot and what ones are not.

  • The fluctuations in the mining reward make a near-term Dow- or FTSE-index like an indicator.
  • Although, they are not the ones that tell you about the present and the past but, they also hand out to the vigilant investors and traders – probably to push prices over the upcoming weeks.

A week is considered as a long time in the crypto world and for the time being, the mining rewards are directing to positive sentiment. As Bitcoin is set to break above the $10,000-mark, mining rewards will probably be a good sign to watch -because in such an erratic trading, you must have to focus on each and every signal that you get.

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Bitcoin Bubble-Mark Cuban is Backing

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1 July 2017, 09:42 AM, entrepreneur Mark Cuban

Well-known entrepreneur Mark Cubam is now planning on switching to another cryptocurrency after dropping the value of the Bitcoin. Accordingly, your clue about the ethereum is absolutely wrong. It may be UnikoinGold.

By offering an initial coin, Cuban is going to participate in fundraising round of his company.

With more than 30 ICOs, ICO method gets popular this year. Companies effort in the different channel to enhance its capability. In that scenario, companies start to sell their own cryptocurrencies and use the return to boost their business fund.

In addition, including Asthon Kutcher, Unikrn has already erected $10 million from investors. According to the CoinDesk, these companies allow its users to place bets with its digital token.

Up to 1 billion UnikoinGold will be available for grabs and the registration for pre-sale will be started in the mid of the July.

Up to now, a company has to set down the Price of the UnikoinGold. Accordingly, investors will be able to start transactions under Ethereum’s token.

 

News credit: fortune.com

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Goldman Sachs – “Most Cryptocurrencies Will End Up Hitting Zero”

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According to Goldman Sachs, the cryptocurrency markets will not recover from their present correction. On 5th February, Steve Strongin (Goldman Sachs head of investment research) said, the high correlation between several cryptocurrencies makes him really anxious. Some currencies that do not survive are expected to trade to zero due to the lack of intrinsic value.

Strongin is worried about the possibility that maybe one or a few of the existing cryptocurrencies could ascend from the speculative bubbles, just like the crypto equivalents of Google or Amazon. However, he said that he doesn’t think that most of the coins will ever recuperate to their all-time highs.

There have been many questions arising like, is there any cryptocurrency that’ll be like Google or Amazon? Or are they going to end up just like the other now-defunct search engines? Strongin said that this doesn’t mean that the prices of cryptocurrency cannot increase at all because they are in a speculative bubble at this time. But at the same time he said, that most of the cryptocurrencies might bounce back to their all-time highs, but some of them are never going see their current peaks ever again.

most cryptocurrencies will end up hitting zero

This clearly shows that the speculative bubble is coming to its end and rather than as a collective asset class, investors are going to start judging the cryptocurrencies from their individual merits as a lot of casual retail investors are already familiar with it. It also seems like the ICO (initial coin offering) success will suddenly come to its end.

Strongin said that the winners-take-most sight of the market is not very unique to Goldman Sachs. On Wednesday, the founder of DCG (Digital Currency Group) Barry Silbert, offered the same remarks at “Yahoo Finance All Markets Summit: Crypto” with explicably more positive stance on the entire industry.

According to Silbert, a huge majority of crypto-assets are facing a binary outcome. They are either going to become extremely valuable or they are going to become worthless. He added, this is why Grayscale Investments (a DCG portfolio company) launched its newest product, a fund related to crypto-asset investment and it holds the market cap (weighted positions) in the most major five cryptocurrencies and balances it again quarterly to imitate market movements.

Many other experts have also warned the investors on cryptocurrencies. Nouriel Roubini, who’s a well- known economist said on Tuesday, that the price of bitcoin would also crash to zero. Warren Buffett also said in a recent interview that cryptocurrencies are definitely going to have a bad ending.

 

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