Global demand for Bitcoin shifts wildly in response to regulation

Rally Restored? Bitcoin Is Up 75 Percent from 30 Day Lows                          Oct 12 2017 at 15:15 UTC by Omkar Godbole

That is like saying the iPhone was a bubble in 2007 four days into the sale because there were 500,000 iPhones sold. With today's record breaking trading, the popular cryptocurrency surpassed the previous high of $5,013.91 hit on the first week of September.

After a move to Fortress Investments in 2002, he progressed in 2006 to be principal and director of Fortress Credit Corporation.

Another key player in the crypto currency is Russia, where President Vladimir Putin on Wednesday spoke of a "risk" that virtual currencies - often associated with so-called anonymous 'dark web' dealings - could represent.

Investors have been wary to invest in the new token, but the returns it has shown have been quite promising.

This morning Bitcoin shot past $5,000, and is now hovering around $5,300 - up nearly 10% from yesterday.

Developers of the coin stated that "there is currently no widely accepted tokenized version of Bitcoin on Ethereum, which is pretty surprising".

The Final Word: The value of all cryptocurrencies is fast approaching record highs, a sign that altcoins are once again benefiting from the meteoric rise of bitcoin. With over $2 billion of daily volume, the cryptocurrency asset volume has surpassed the most traded gold exchange traded funds (ETFs) by many times.

The Ethereum market has not been able to make any kind of a progress so far as the prices of bitcoin continue to skyrocket.

With the surge in Bitcoin price right now, this new feature comes at an intriguing time.

Whether or not his investment pays off remains to be seen, although financial investors have always, to some extent, followed the herd. While Amazon may indeed accept Bitcoin in the future they've never released an official statement confirming this information.

So, a team of cryptocurrency developers is open-sourcing technology that enables trust-less trading between a bitcoin and ethereum blockchains. "This is not going away". The RBI has even proposed creating a government-backed cryptocurrency.

The bitcoin supply is capped at 21 million units, some 17 million of which have already been mined. That changed early this year when regulators started to clamp down on digital currency exchanges.

Top figures in the business world are also beginning to discuss cryptocurrencies.

That means bitcoin still has a ways to go before reaching the valuations of other banking giants with a larger consumer presence such as Citigroup ($198 billion), Bank of America ($270 billion), Wells Fargo ($275 billion), and the largest of the large, J.P. Morgan Chase ($340 billion).

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