Bitcoin not long ago has just crossed the threshold of $8.000, touching the top floor $8.020 Bitfinex before the withdrawal of around $7.900 area in the time article. This time, however, is an exception completely different compared to the past, because the electronic currency of a world that has just survived one of the times "head fake" fake-spike stomp (one-way then suddenly turned back on the trend the other) the largest scale ever.
The same look back 10 days up and down frantically of the Bitcoin
Everything began about a week with event cancellation statement batches hard fork Segwit2x, do reviews Bitcoin immediately "up" from $7.200 up to $7.800. But after only a few hours, the ORGANIZERS suddenly dropped no brakes and increasingly continue to slump. Three days after quitting Segwit, Bitcoin hit bottom $5.500, while "the boys" it's rise as "rocket" from $600 up to $2.400. At the time, a large miner jumped from chain BTC to BCH, causing the number of unconfirmed Bitcoin transactions up to the point that more than 115.000, serious chemical makes everything. Transaction costs from that ascent.
All seem to have come there is nothing wrong with Bitcoin. This coin was just "throw in the trash" option expands the scale of the most feasible in the short term. No Block size 2 MB means there will be no quick solution to the congestion problem. Segwit, which also has been receiving feedback August, need more time to expand influence because it requires the providers for the user and must voluntarily choose to integrate it into the transaction. The only hope, Lightning Network, the solution long-term expansion of the Bitcoin, still in the experimental stage and was not yet ready to activate.
The wave of good news
However, Bitcoin Cash has been starting to decline at a rapid pace as it goes up, the miner was gradually back to chain stasis transaction traffic jams and Bitcoin, also are reduced in the level of stability. The above factors have helped prices rise again, and the Bitcoin more good news, then hope the price Bitcoin will continue rise to the new record.
The good news? First of all, hedge fund Man Group come from the UK, managed to more than 100 billion USD investment money, announced they will participate in the transaction market CME Group Futures Bitcoin, which will be deployed soon in the coming December.
Next, the application payment Square announced it will integrate completely the Bitcoin on his platform. Company representative interview with Forbes Magazine:
We always listen to the mind, aspirations of customers and discover there are a lot of people like to use the Cash to buy their App Square Bitcoin. The company is exploring ways to make things faster and easier, we have begun testing it with some users. We believe that electronic money will huge impact a person's ability to participate in global financial markets and Square are very eager to learn much more.
The market capitalization of the Square has grown from 15 to 16 billion following the statement above so that not only the community of electronic money that both the Wall Street feels excited before the news.
And yet, new Coinbase trading today has released Coinbase Custody, a Bitcoin hosting service for the hedge funds want to join and the field of electronic money. Please is part of the Coinbase Declaration:
More than 100 funds have been created in the last year only to currency trading. Besides, there are a greater number of investors have held started paying attention to the purchase and sale of electronic assets (including the business office, the national property Fund, the traditional hedge fund, ...). According to estimates, there are up to 10 billion DOLLARS in investment money on organizations willing to pour into electronic money right out of today. When talking with the financial institutions, they shared with us that the only barrier separates them involved in property investment algorithm is robbing a fiduciary party they can trust to keep client's money secretly.
The notification is then continued to describe the benefits of Coinbase Custody services:
"We are designing Coinbase Custody to meet the entire needs of the investment organization. Specifically, they are included:
- Strict financial control (multi-signature, security auditing, set a limit, ...)
- Account representative parts and phone support
- Commitment to SLA (Service Legal Agreement) in the transaction
- A guardian agency of electronic money is managed
- Multiple user accounts are granted different permission restrictions
- Supports many types of properties and the electronic currency
- Insurance (for some cases)
- Network security fences and high physical security. "
This new service is expected to deploy in the year 2017.
Technical analysts Bitcoin, who study price charts to make predictions about the market, coin world no. 1 algorithm about to embrace a new growth again. Because the process of going up too fast, much of the analysis pointed out the price before then can meet a Pricelist to consolidate light location again to continue to create momentum forward. However, the level of $8.000 throughout the past month has always been top of the purchase funnel swap Bitcoin, so if Bitcoin can break this psychological barrier, deep reviews can increase dizziness.
In a sense, the value was higher than many current Bitcoin what we see on the outside, especially with those investors own the Bitcoin before releasing the batch 1/8, marked the birth of the Bitcoin Cash.