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BITCOIN PRICE

BITCOIN PRICE NEWS

It's been a rough few days for bitcoin. Towards the end of last week, news out of Russia and China hit press and book with its pretty substantial downside pressure on the bitcoin price. South Korea joined the fray at the commence of this weekend and compounded the act. Now, however, it seems at least one of these regions is commencing to switch roles its bias – Russia.

Very first up, it's worth noting that much of the news and reports emanating from Russia right now seem to be conflicting with one another. It was only last week, after all, that we learned that policymakers in the nation want to restrict buying and selling of currency to the Moscow Stock Exchange, which, in turn, would restrict access to accredited investors.

We also learned that the government is considering setting up some sort of energy/bitcoin transfer service through which individuals can sell excess energy for bitcoin and vice versa. Rapid forward to today and the latest news comes from this interview, as published by Russian media outlet Tass.ru at the site of this week.

As per the report,Deputy Prime Minister YuryTrutnev exposed that the Russian government has already approved a platform called Voskhod for cryptocurrency trading and that this entity is the very first and only (right now) approved entity of its kind in the nation.

Chances are it will be government wielded and run and as hinted at the interview, it seems only accredited investors will have access to the platform, but as a embarking point, it's not a bad budge by the Russians.

Some reading might already be familiar with the name –Voskhod was the name of the Soviet space program that hit the US's Gemini program to the very first EVA (space walk) and, specifically, Voskhod1 and two were the names of the two spacecraft that spearheaded the program.

Whether this offers up any clues what Russian policymakers' intentions are (to once again get a hop on the Americans, perhaps?) is unclear.

Author : Jack Dean

Jack has worked in the cryptocurrency industry for five years now as a reporter. His practice is predominately in banking, while he also has a keen interest in the forex world. His daily output is read by thousands of readers globally.

Here’s Why Forbes’ Latest Bitcoin Coverage Is So Significant

​The major news today isn't that the bitcoin price has risen by a duo of hundred dollars overnight, nor is it that any fresh company or nation has adopted bitcoin as acceptable tender. Instead, it's perception based.

Forbes just published this article titled:

"Bitcoin Is The Fresh Gold"

Many reading will recall ems if not hundreds of articles over the last three or four years from the same outlet calling for the death of bitcoin, suggesting it's a improvised bubble and that all bubbles must pop. Keep in mind that most of these are written by the same author.

How the tables have turned.

The crux of the article in concentrate here is that bitcoin has become the fresh safe haven asset. This term refers to the asset that individuals flock to (in other words, buy) when there is a degree of uncertainty, or risk, surrounding things like the global economy, global politics or geopolitical stability.

For the past thousand years or more, gold has been the safe haven asset. As Forbes author Panos Mourdoukoutas now points out, there is a large degree of geopolitical uncertainty suspending over global economies right now. North Korea is firing missiles here there and everywhere. The state of US politics is in a practically never before seen mess. The European monetary system is unstable and its economic bloc has taken a big hit with the UK set to leave and go it alone. Central banks across the globe don't know what to do with interest rates or whether anything they do determine to do is actually going to have any effect.

These are uncertain times and it's not gold that's rising in price – it's bitcoin.

Sure, some of the latest price rise in bitcoin is likely due to speculative acquisition on the back of the run that we have seen over the last few months; that's reasonable and to be expected. For years now, however, the cryptocurrency community has been pitching its poster boy as a potential risk off asset and – ultimately – it looks as tho’ this pitch has been validated.

Author : Jack Dean

Jack has worked in the cryptocurrency industry for five years now as a reporter. His practice is predominately in banking, while he also has a keen interest in the forex world. His daily output is read by thousands of readers globally.

Bitcoin is Being Traded at $9,086 in Stock Market, Enlargened Request From Institutional Investors

​When bitcoin price surged past the $Four,000 mark, prominent financial analysts including Brian Kelly attributed the upward momentum of bitcoin to an increase in request from institutional and retail investors.

Earlier this week, the share price of GBTC, the Bitcoin Investment Trust operated by Grayscale Investments, a subsidiary company of Digital Currency Group, reached $908.6. Each share of GBTC represents the value of one tenth of bitcoin. Hence, a $908.6 per share equates to a price of $9,086 per bitcoin, which is substantially higher than the global average bitcoin trading price of $Four.583 at the time of reporting.

By law, many corporations, investment banks and retail investors are only permitted to invest corporate, private and client funds into regulated investment channels such as the stock market. Because GBTC is the only tradable bitcoin instrument in the US stock market, large-scale investors are required to purchase shares in GBTC in order to invest in bitcoin rather than purchasing bitcoin directly on trading platforms like Coinbase, GDAX, Bitfinex and Kraken.

Since 2016, GBTC has been trading at a high premium in the stock market primarily due to its limited supply and the continuous increase in request from institutional investors. However, the premium rate of GBTC had never surpassed the 30 percent mark in the past. As of current, investors in the stock market are paying almost dual the global average price of bitcoin to invest in the digital currency.

In terms of security and privacy, experts have always encouraged and advised investors to securely store their own private keys, and remain absolute control over their funds. Non-custodial bitcoin wallets such as Trezor, Ledger, Blockchain, KeepKey and Breadwallet enable bitcoin users to oversee their private keys, eliminating the possibility of hacking attacks and security breaches leading to the loss of user funds.

But, as mentioned above, a petite portion of investors in the public market are required to invest through rigorously regulated channels and at the moment, without the existence of any bitcoin ETF in the market, GBTC remains as the only option.

In the upcoming months, the entire ecosystem could switch drastically for retail and institutional investors. Coinbase and its flagship trading platform GDAX along with Gemini, three of the largest exchanges in the US, announced that they are actively developing platforms to better serve large-scale investors.

Gemini in particular secured a strategic partnership with the Chicago Board Options Exchange (CBOE), the largest options exchange in the US, to provide an efficient and secure trading ecosystem for institutional investors. Earlier this month, Gemini co-founder and CEO Tyler Winklevoss stated:

"Gemini's key concerns in the cryptocurrency ecosystem have always been security, compliance, and regulatory oversight. By working with the team at CBOE, we are helping to make bitcoin and other cryptocurrencies increasingly accessible to both retail and institutional investors."

Author : Joseph Youthful

Joseph Youthfull is a finance and tech journalist based in Hong Kong. He has worked with leading media and news agencies in the technology and finance industries, suggesting sensational content, interviews, insights and analysis of cryptocurrencies, innovative and futuristic technologies.

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