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Bitcoin's Price Falls Below $13,000
Following a huge surge, Bitcoin's price has been steadily dropping this week with the cryptocurrency now falling below $13,000 on Friday. The loss come amid a broad cryptocurrency selloff with every major cryptocurrency as of Friday morning posting double-digit 24-hour losses. Despite the drops, all of these currencies have seen massive gains in recent weeks. The slide though does comes amidst a growing chorus of experts who warn that cryptocurrency valuations could be an unsustainable bubble....
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Bitcoin exchanges more at risk
Hackers penetrated a secure authentication system at a bitcoin exchange called Bitfinex earlier this month, stealing about $70 million worth of the virtual currency. The cyber theft is the second largest since bitcoin burst onto the scene, and is now hardly a rare occurrence. According to Reuters, a third of bitcoin trading platforms have been hacked, and nearly half have closed in the 6 years since they began. the risk for bitcoin user is also higher, since repositories act like banks but have...
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Cryptocurrency Market Cap Peaks Above $700 Billion
Market capitalization for cryptocurrency surpassed $700 billion on January 3rd, reaching a new record high.
According to Coin Market Cap, the combined circulation of cryptocurrency worldwide peaked at $707 billion before stabilizing at $683 billion.
Although Bitcoin is still recovering from a plunge in value late last year, other cryptocurrencies gaining value are most responsible for this recent growth in capitalization.
Bitcoin's percentage of the total crypto-market is now at a record-low of...
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Blockchain System Now Set At Industry Leader UBS
A report in 2015 showed that banks around the world lose between $65 and $80 billion a year in the time it takes to process money transactions. But banks like UBS are not willing to let that money be lost, so they have started incorporating a technology called "blockchain" that allows transactions to process faster. Blockchain was the core system behind the digital currency Bitcoin, which helped keep track of bitcoin holders' accounts and transactions. Now, UBS and similar financial industry...
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Bitcoin Price Rebounds As Mt. Gox Under Investigation
Bitcoin prices rose on Wednesday, recovering sharply from lows Tuesday, as authorities in the U.S. and Japan begin looking into the sudden closure of Tokyo-based exchange Mt. Gox. Meanwhile, Mt. Gox Chief Executive Mark Karpeles said in a brief notice posted on the exchange's website that he is "working very hard with the support of different parties to find a solution to our recent issues," but gave no specifics. After initially remaining silent on Tuesday's shuttering of Mt. Gox, a move that...
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Bitcoin Tops $10,000
(CNN)The most expensive bitcoin in the world are flying off virtual shelves in Zimbabwe. The price of the digital currency has soared beyond $10,000 over the past week on Harare-based trading platform Golix, almost double the rates on major international exchanges. "The price has been high for some time and it keeps going up," says Golix trade coordinator Yeukai Kusangaya. She expects soaring demand to drive the price even higher. Bitcoin is no longer a specialist curiosity in Zimbabwe. The...
Related topics : digital virtual currency and bitcoins
Bitcoin Startup Coinbase Surges Past 1M Consumer Wallets In The Post-Mt.Gox Era
Today Coinbase announced that it has created more than 1 million consumer Bitcoin wallets on its platform, pointing to increased interest in the market for the cryptocurrency. That Coinbase grew greatly in 2013 is not surprising, as it was the year that most of those now familiar with Bitcoin first heard its name. The one million wallet figure says two things: Bitcoin is growing, and Bitcoin is small. Give that market constriction, Coinbase's other released statistics are interesting: Today...
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Bitcoin's Share Of Crypto Market Hits All-Time Low
Crypto's total market cap hit an all-time high above 660 billion dollarson Tuesday as so-called alternative coins, or "alt-coins," charged upwards. However, the largest crypto, bitcoin, lagged behind small rival coins. Bitcoin's share of the total cryptocurrency market cap hit an all-time low on Tuesday below 36%. With a market share of nearly 90%, bitcoin's dominance over the cryptocurrency space appeared unshakable at the start of 2017. As new coins came onto the market, bitcoin's position...
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Will Bitcoin Survive This Test?
Since its inception, Bitcoin has survived several tests. In the beginning, came the user test. The digital currency passed it, as many companies and organizations began to accept Bitcoins as a medium of exchange. Politicians and investment bankers took notice. Bank of America
price target on the virtual currency. Last December, Bank of France gave a strong warning concerning the risks of the virtual...
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Korean Bitcoin Exchange Korbit Raises $3M Series A
Korean bitcoin exchange Korbit has raised $3 million in Series A funding led by SoftBank Ventures Korea and Pantera Capital. Korbit competes with Coinbase and Bitpay but differentiates with services that are localized specifically for the Korean market. Last April, Korbit, which also offers bitcoin wallet and merchant processing services through Korbit Pay, launched the first bitcoin-Korean won exchange. It currently has 25,000 users for its exchange and wallet services, and 400 merchant...
Related topics : bitcoin currency exchange / bitcoin exchange market / bitcoin exchange fees