link2499 link2500 link2501 link2502 link2503 link2504 link2505 link2506 link2507 link2508 link2509 link2510 link2511 link2512 link2513 link2514 link2515 link2516 link2517 link2518 link2519 link2520 link2521 link2522 link2523 link2524 link2525 link2526 link2527 link2528 link2529 link2530 link2531 link2532 link2533 link2534 link2535 link2536 link2537 link2538 link2539 link2540 link2541 link2542 link2543 link2544 link2545 link2546 link2547 link2548 link2549 link2550 link2551 link2552 link2553 link2554 link2555 link2556 link2557 link2558 link2559 link2560 link2561 link2562 link2563 link2564 link2565 link2566 link2567 link2568 link2569 link2570 link2571 link2572 link2573 link2574 link2575 link2576 link2577 link2578 link2579 link2580 link2581 link2582 link2583 link2584 link2585 link2586 link2587 link2588 link2589 link2590 link2591 link2592 link2593 link2594 link2595 link2596 link2597 link2598 link2599 link2600 link2601 link2602 link2603 link2604 link2605 link2606 link2607 link2608 link2609 link2610 link2611 link2612 link2613 link2614 link2615 link2616 link2617 link2618 link2619 link2620 link2621 link2622 link2623 link2624 link2625 link2626 link2627 link2628 link2629 link2630 link2631 link2632 link2633 link2634 link2635 link2636 link2637 link2638 link2639 link2640 link2641 link2642 link2643 link2644 link2645

Tag: bitcoincash

Bitcoin continues its steady recovery, rising above $8,000/more

Bitcoin continues its steady recovery, rising above $8,000

Other cryptocurrencies match bitcoin’s march higher

Bitcoin continued to move above $8,000 on Thursday,
taking a cue from global equity markets, which appeared to be stabilizing somewhat after a week of extreme volatility. The price of a single bitcoin BTCUSD, +2.72% gained 6.7% to $8,091.23, bouncing off a session low of $7,576.25, according to CoinDesk data. The price of bitcoin remains well below a level of $10,000 seen a week ago, and its December peak above $19,000, but has recovered from a drop below $6,000 on Tuesday. Ether, the coin on the ethereum network, saw a similar rise, up 6.3% to $806.63, while bitcoin cash was at $995.25, up 3.5%. Litecoin rose 2.7% to $142.66, and Ripple gained 3.4% to 75 cents, CoinDesk prices indicated.

Winklevoss:
If you can’t see bitcoin at $320,000, you just lack imagination

‘We believe bitcoin disrupts gold’

Tyler Winklevoss and Cameron Winklevoss are still fired up about bitcoin.

‘You know the criticisms are just a failure of the imagination.’

That’s what Tyler, one of the Winklevoss twins, had to say to the skeptics — and there are many — who fail to see the massive potential for bitcoin BTCUSD, +2.33%  and the rest of the crypto space. “Cryptocurrencies aren’t really important for human-to-human transactions… but when machines-to-machines trade economic value, they are going to plug into protocols like bitcoin and ethereum,” he explained to CNBC. “They are not going to open bank accounts at J.P. Morgan… those were invented by bankers before the internet existed. Trying to use them as payments or money on the internet is a square peg in a round hole at best.” His brother, Cameron, says bitcoin will one day be worth 40 times today’s price, which is currently just over $8,000, thanks to a double-digit rally.

“We believe bitcoin disrupts gold GCH8, -0.01% We think it’s a better gold if you look at the properties of money. And what makes gold gold? Scarcity,” Cameron said. “Bitcoin is actually fixed in supply so it’s better than scarce … it’s more portable, its fungible, it’s more durable. Its sort of equals a better gold across the board. We think regardless of the price moves in the last few weeks, it’s still a very underappreciated asset.”

Neither Cameron nor his brother put a specific timeline on the prediction during the chat, but they did say they’re taking the 10-to-20 year view. The Winklevoss twins were hailed as the first crypto billionaires, after riding the hype and creating an exchange that processes $300 million in daily transactions. The brothers are currently No. 4 on the Forbes list of wealthiest players in the space, behind the Binance CEO Changpeng Zhao.

February Bitcoin futures on the Cboe Global Markets XBTG8, -0.30%  slipped 2.4%, to settle at $8,040, while those on the CME Group Inc. BTCG8, -1.52%  fell 3.6% to $7,970. Cryptocurrencies have drawn some support this week from a Senate hearing to discuss regulations for the industry , which was viewed as generally positive. But bitcoin and its rivals have been not escaped the volatility that has at times whipsawed global equity markets.

Chuck Reynolds

Marketing Dept
Contributor

Please click either Link to learn more about Bitcoin.
Interested or have Questions, Call Me, 559-474-4614

Alan Zibluk Markethive Founding Member