It seems like every week there’s an announcement around a cryptocurrency breaking former records to establish a new all-time high. Shortly after the total market cap of digital currencies hitting the $60 billion mark, the two preeminent cryptocurrencies have once again shattered previous benchmarks to hit new highs with Bitcoin valued over $1,900 and Ether sitting at $119 at the time of writing.
Early in 2017, Bitcoin was deeply embroiled in debates on regulation and compliance, mostly in response to news coming out of China. Starting the year at $996, Bitcoin has nearly doubled from its January 1 price. This year has been a strong bull market, with many reputable sources in the financial sector speaking out on behalf of Bitcoin as a store of value and as a technology. Bitcoin is poised to break $2,000 at any moment.
BTC – USD chart provided by CryptoWatch
Ether, the cryptocurrency created by the Ethereum Project and breakout star of 2017, has also reached a significant milestone by smashing through the $100 benchmark. Few, if any, cryptocurrencies have seen as much action as Ether this year. With a January 1 price just over $8, Ether’s current value is nearly 14 times where it was at the beginning of 2017. This success comes largely on the heels of several high-profile announcements around the Ethereum Network blockchain. The establishment of the Enterprise Ethereum Alliance in February and the wildly successful launch of the Ethereum Name Service at the beginning of May have contributed to the meteoric rise of Ether.
ETH – USD chart provided by CryptoWatch
In February, BTCC CEO Bobby Lee predicted Bitcoin reaching a value of $5-$11,000 by 2020. After this latest spike, the lofty claim isn’t entirely unreasonable. With blockchain technology rapidly moving beyond the payments processing sector into other industries, the value of cryptocurrencies as technology will continue to rise. More exciting reveals are on their way as cryptocurrencies firmly establish themselves as part of mainstream technology.
Featured image from Shutterstock.
DAO.Casino Automates Trust in Online Gambling with Blockchain Technology
The increasing number of online gambling platforms has made it hard for people to differentiate between the ones that are genuine and those that arenât. However, there is a solution that makes
131 Countries: BitPay Goes International With Bitcoin Prepaid Visa Card
BitPay is expanding its prepaid bitcoin card offerings to more than 100 new countries.
Unveiled today by BitPay chief commercial officer Sonny Singh at Consensus 2017, the Visa-branded offering ena
Consensus 2017: 'The Future Is Here' For Blockchain's Cross-Border Impact
The use of blockchain to conduct business across international lines has long been seen as a major application for the tech – but where it offers the most benefits is still open to debate.
Consensus 2017: Enterprise Ethereum Alliance Puts Blockchain Privacy Into Focus
Privacy and confidentiality are big-ticket priorities for the Enterprise Ethereum Alliance, ethereum-focused consortium launched in February.
The group – which last night announced the addition of
Bitcoin jumps $200 in single day and has nearly doubled in May on surging global demand
Bitcoin added more than $200 Monday at one point amid a major New York conference on digital currencies, following a surge in weekend interest from Asian investors. The cryptocurrency briefly
Exchanges Are Weak Point of Cryptoworld, NVO Will Change It
Exchanges are the achilles heel of the cryptocurrency world. Unlike a stock market, where securities are held by a custodian bank and your cash would be in your bank account, in many cryptocurrency
Enterprise Ethereum Alliance Announces Technical Board
The Enterprise Ethereum Alliance, an organization comprised of the some of the most prominent names in blockchain, recently announced its inaugural Technical Steering Board. Focused on building out Et
Bitcoin Price Blitzes Beyond $2,200; USD Markets Reign
The rampaging run continues as bitcoin price soars above $2,220 to new uncharted heights led by trading in US markets.
“Bitcoin Price Could Leap over $2000 in 2017” read a CCN headline citing Danis