Bitcoin crashed more than 25% from Wednesday’s all-time high of $ 7,721 to a low of $ 5,617 on Sunday, according to data from CoinDesk. Over the weekend, bitcoin appeared to give up market share to bitcoin cash, a clone coin created to improve bitcoin’s slower transaction speeds Briefly, bitcoin’s market cap as a percentage of the total cryptocurrency market dipped below 50%. It was trading at $ 6,544, up 10.9% at 9:40 a.m. ET, according to…"Bitcoin retains its crown as crypto king — but issues still hang over the cryptocurrency"
The explosion and maturation of the cryptocurrency market has institutions pouring money into the space. Firms such as DRW, a Chicago-based trader, and B2C2, a UK-based over-the-counter broker, are now regularly executing multi-million dollar trades. “We got a call for a $ 50 million trade last week.” Kevin Beardsley isn’t talking about an equities deal, or a bond trade, or a currency bet. Beardsley is the managing director at B2C2, an OTC trading firm, and…"A small band of trading specialists are taking calls about $50 million bitcoin deals"
The price of bitcoin, the red-hot digital cryptocurrency, popped Wednesday afternoon to an all-time high of $ 7,882, according to data from Bloomberg. It gave up some gains and then traded up 8.75% at $ 7,695 as of 12:53 PM EST. Mike Belshe, CEO of BitGo, a backer of the plan to increase the amount of information processed by the blocks underpinning bitcoin’s blockchain network, said supporters were calling the plan off, according to cryptocurrency…"Bitcoin soars to nearly $7,900 after plans for fork are called off"
Two luxury car-loving founders behind the crypto currency startup Centra have left the company just weeks after their company raised $ 32 million through an unregulated fundraising technique. The founders, Sam Sharma and Raymond Trapani, left Centra after a New York Times article brought to light the pair’s on-going legal troubles. Members of the crypto currency community have also shared concerns that Centra’s core product — a prepaid card for spending cryptocurrencies like bitcoin — may never be…"A few weeks after a crypto currency startup raised $32 million, two of its founders have left the company amid a swirl of questions"
The aggregate value of all cryptocurrencies hit a record high of around $ 184 billion on Wednesday, according to industry website Coinmarketcap, making their reported market value worth around the same as that of Goldman Sachs and Morgan Stanley combined. The new peak came as the biggest and best-known cryptocurrency, bitcoin, hit a record high of… bitcoins | New York Post"Cryptocurrencies now worth more than Goldman and Morgan Stanley combined"
CME Group will offer bitcoin futures, pending approval. Joe Saluzzi of Themis Trading thinks that it would be a mistake to give the products the go-ahead, citing the unregulated exchanges upon which bitcoin trades. He worries that if the futures are given the OK, it would catalyze approvals for bitcoin ETFs, which he says would be dangerous for the market. Exchange giant CME Group announced on Tuesday that it will launch bitcoin futures products, and…"Bitcoin futures remind one expert of the risky products that caused the financial crisis"
Wall Street has a new toy — and regulators are warning that some pieces of the popular product can cause your portfolio to choke. The toy, a is called an Initial Coin Offering, a specialized bitcoin-like digital currency companies are using to raise money — instead of classic stock offerings. So far in 2017, ICOs… bitcoins | New York Post"NY investigators probing bitcoin-like currencies worth $3.2B"
Marco Ciocca is the co-founder and chairman of The Montessori Schools in Flatiron and Soho. In May the school sent an email to parents alerting them that they could now make their tuition payments in bitcoin. We went to speak to Ciocca at The Montessori Flatiron to find out how the transactions work, why it’s better for the school than accepting credit cards, and whether any parents actually paid in bitcoin. Following is a transcript…"Why this New York City preschool accepts bitcoin but doesn’t accept credit cards"
Digital currency bitcoin rocketed above $ 7,000 for the first time ever on Thursday, after a more than sevenfold increase in its value since the start of the year. Bitcoin has seen eye-watering gains in recent months and has more than doubled in value in the past seven weeks alone. It hit as high as $ 7,066.44… bitcoins | New York Post"Bitcoin crosses $7,000 for the first time"
Bitcoin split in two in August when the digital currency officially forked creating Bitcoin Cash. Bitcoin gold was created when bitcoin forked again in October. And now the SegWit2x fork is looming. Meanwhile, bitcoin continues to hit new record highs. We asked Nolan Bauerle, the director of research at CoinDesk, to come in to help explain what exactly happens when a cryptocurrency splits and whether it undermines the strength of the coin. Following is a transcript of the video.…"We just got a super smart and simple explanation what a bitcoin fork actually is"