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Cryptocurrency enjoys a notable increase in its price. Especially when it crosses the gold and dollar price. It became the center of attention to the media and another financial sector. Recent price of bitcoin is,

We know that bitcoin market value varies from time to time. Its price is not stable. Which factor is contributing in price fluctuation of the bitcoin? How they create a positive or negative impact on the users. In this article, we will discuss the factors creating the strong impression on a price of the bitcoin.

Government rules & regulation

When government regulates the bitcoin, it declares whether bitcoin is legal or illegal. If it is legal by the government, they will guide people on how to use bitcoin.

There is a large group of people who afraid of government regulations. Whereas, the government controls the circulation of digital currency in the country. They are not able to decrease the amount of money but they have the ability to generate more money. Bitcoin store in wallet addresses. In addition, Which is being the cause of rising in the value of bitcoin.

Now, the scenario is that government declare that only they will mine cryptocurrency. And, only government’s currency will legal in the country. Accordingly, we have the situation od currency same as before cryptocurrency. The government will have the authority to mint all money and shut down the system. Furthermore, they can change the code for more currency mining when. There is a lot of scary things like above discussion. That is why people get afraid of these new regulations.

People who are in favor of bitcoin regulation will buy more bitcoin. Whereas, who are afraid of government regulations might start selling of bitcoins in the response to the news like NYDFS BitLicense. That is a factor of government regulation.

Shopper  

When people use bitcoin as a currency. They show to the world that they admire the credibility of the bitcoins. People do transactions including sale and purchase with bitcoin. The companies like Dell, New Egg and much more allow its customer to purchase their products pay in bitcoin. In addition, Xapo introduces a new credit card to spend with bitcoin market. Even though shoppers don’t have the direct influence on price. Indirectly or directly they help to spread bitcoin around the world. Therefore, shopping factor of the bitcoin has offered a large market with no short-term influence.

Mining

All the transactions of bitcoin are because of the bitcoin mining. The network is secure because the more miners, the network will be more secure. Where no one owns the 51% of the network. A 51% attack is only possible in case of one entity own all mining power on a network. Basically, 51% attack is potential panic selling. Which being the factor of bitcoin price decrease in value. Some miners keep saving their bitcoin while other cash it out.

News  

News is the most effective part of any society. People who read news can also have an ability to act on it. For example, if a person has 51% mining power on the network. And, this news spread from a television channel. In addition, the reaction of the people regarding bitcoin value will entirely change. Few of them get panic and sell their bitcoin and other will try to overcome this difficulty. This factor of news provides articles to the public about the fluctuation of bitcoin prices.

Dumping to fit

For example, a business wants to sell a number of bitcoin to pay business expenses. In addition, they don’t want to own the bitcoin. This discarding will tend the bitcoin to depress state. It all depend on the company’s capacity of selling bitcoin. This factor is basically a depression in the bitcoin value.

Selling on exchange

If a person has 1000+ bitcoin and sells them in exchange, a price of the bitcoin decrease automatically.

Buying on exchange   

The number one thing that influences the value of a Bitcoin is how much someone is willing to pay for one Bitcoin, of course. When you place an order on an exchange in order to buy Bitcoin, you decide what is the value of a Bitcoin to you. The more people who are willing to buy Bitcoins, the greater the chance for an increase in the overall value of a Bitcoin. Sellers sell to the highest bid price first, so whoever is the highest bidder at the moment, is the one who decides the value of a Bitcoin at the moment.

The Bitcoin price factor of someone buying Bitcoins on an exchange is always a rise in the value of bitcoin.

Good luck!

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What’s the Big Deal about Bitcoin Cash?

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Early morning on August 1, Bitcoin’s blockchain split – A separate cryptocurrency was created called Bitcoin Cash

The purpose of a fork is that instead of creating an entirely new cryptocurrency that restarts at block 0, it just creates a replica version that shares the same history. This means that all the previous transactions on bitcoin cash’s blockchain are identical to bitcoin core’s blockchain. However, the future transactions and balances are to be completely independent of each other. Basically, everyone who owned bitcoin before the fork now has an equal amount of bitcoin cash as well.

First things first, if you seem to be in control of your own private keys or store your bitcoin in an exchange that credit users’ balance about bitcoin cash, you’re good to go and can access your new cryptocurrency instantly. However, if your coins are withheld in Coinbase, which said that they won’t be distributing bitcoin cash anytime soon, then you may be unfortunate.

This doesn’t mean Coinbase will be keeping your bitcoin cash but just that they believe it to be unimportant and that it won’t be worth anything in the long run. Although, this is susceptible to change if this is proven to be false.


What’s  Bitcoin Cash?

There are thousands of cryptocurrencies present on the market. Some claim to be better and different than bitcoin, while others are just replicas. Bitcoin cash is just another altered digital currency.

To begin with, it was only created prior to the forking of bitcoin View Postcore, but this isn’t rare. Many other cryptocurrencies have also forked from bitcoin before, but none have been as successful as bitcoin cash is at the moment. One of the reasons behind its popularity is the fact that people now have an equal amount of bitcoin cash present and they are referring to it as “free money.” Also, this hard fork was set to coincide with bitcoin core activating a change in its code called BIP 148, which is a Bitcoin Improvement Proposal. After months of negotiation, Segregated Witness was activated which is meant to help bitcoin core scale during transactions.

Related: What is Bitcoin Cash & How to Get it?

What’s it worth?    

At the moment, bitcoin cash is trading for $655.99 per coin, which is pretty great since it’s so new. It is the fourth-largest cryptocurrency by market cap right now.  However, it’s really hard to sell bitcoin cash since most exchanges aren’t accepting deposits yet. Bitcoin users holding bitcoin cash in exchanges that are not supporting trading or outside exchanges are stuck.

Tags: bitcoin news today

So, what’s next?

Most people are just waiting it out for when bitcoin cash is ready to be sold. If this happens, the price will drop or users might begin to like it and it gains value. The point is, no one can really predict what exactly is about to happen next. We survived the split, just have to make through the after-effects

Related: Bitcoin crosses $52 billion market cap

Image Credits: twitter.com/coinbase, coinmarketcap.com

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What Makes Bitcoin So Valuable – A Brief Insight Into Bitcoin

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What is bitcoin? Bitcoin is basically the “IT Girl” of the digital world. Being the world’s first decentralized digital currency, it has gained a lot of fame and value along the years. Its climb to success is a roller-coaster ride packed with ups and downs which surprisingly all Bitcoin users have gotten used to. However, a question that lingers at the back of everyone’s mind is- what makes Bitcoin worth anything?

Why is Bitcoin Used?

Ultimately, bitcoin value is determined by its demand. The supply & demand is what drives Bitcoin so high. One factor being the limited supply – just 21 million bitcoins to be precise. Due to the finite nature, Bitcoin is always in demand.

While it’s not backed by any government or central authority, Bitcoin has managed to create an ecosystem itself where its users are able to trade bitcoins as and when they want. Be it exchanging it for other currencies, buy goods and services, or using it as an investment. Also, let’s not forget the minuscule transaction fees; while banks charge you efficiently for international transfers, Bitcoin does it for much cheaper.

In fact, it has proved itself to be useful, maybe even more than fiat currency. Particularly because it allows users to send and use bitcoins in any country without breaking legal obligations.

In short, the bitcoin market is growing each day. Many competitors were born but Bitcoin is still everyone’s favorite. As unbelievable as it sounds, people bought bitcoins back when it barely cost a hundred bucks and now they’re millionaires. This just shows how much this currency has offered and how much more it could offer in the future.

Bitcoin is the future for me!

 

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Bitcoin Experts Warn Users; say Bitcoin Will Experience a Drop

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The bitcoin market worries experts

At the moment, the value of bitcoin is sky rocketing due to the rising demand of the cryptocurrency.  This has led many experts to believe that a fall is expected in the market soon. Currently, Bitcoin is preparing to reach a new record as it is on the journey of going from $4,031 to $4,500.

Bitcoin value has increased by 60% in the past month and experts are predicting that something could go very wrong in the market.

The reason behind bitcoin’s drive to such high notes is that a larger number of people have begun to obtain bitcoin and this increased demand has led to increasing the market capitalization of the cryptocurrency.

The head of investment strategy at Black Rock, Richard Ternhill, recently commented on the Cryptocurrency Exchange situation as “terrifying”.

In the meantime, Goldman Sachs specialists predict that the bitcoin price is expected to experience a sharp drop and its duplicates would downfall to zero. They are expecting the price to drop to $1,800.

 

Story Credits: marketsmorning.com

Image Credits: shutterstock.com

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Dara Khosrowshahi, Uber’s new CEO has plans for Bitcoin

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Most commonly known for running the traveling site Expedia, Dara Khosrowshahi has just accepted the CEO job for Uber.

Khosrowshahi made a bold move when Expedia had announced that it will accept bitcoin as means of payment back in 2014. Back then the currency was still quite new and not many institutions were willing to invest in it.

Now, it’s very intriguing to think how Khosrowshahi is going to experiment with the world’s best cryptocurrency and the largest ride-sharing platform. Travis Kalanick, the founder and former CEO of Uber never gave in to the ideas of having Uber accept bitcoin but, this could change under Khosrowshahi’s charge. With the increase in interest shown by major companies, one can only imagine how far Uber would go if it joins forces with the cryptocurrency.

Nonetheless, we have only well wishes for Dara Khosrowshahi as he takes on this new challenge. No doubt, he’s got the potential to take the ride-sharing platform to places.

 

News Credits: fortune.com

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Joint Fintech Venture of Singapore and Japan

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Basically, fintech ventures refer to specific computer programs and use of other related technology in order to support financial services in banking and other sectors. Since the end of the first decade of 21st century, fintech has expanded a lot, now it refers to many technological innovations in the financial sector e.g.; financial literacy education and various forms of crypto-currencies.

SFA and FAJ join Hands for Fintech

According to a joint press release, the Singapore Fintech Association (SFA) and the Fintech Association of Japan (FAJ) have decided to work together in order to bring improvements in fintech development. Both the countries signed a Memorandum of Understanding (MOU). The press release also states that this joint venture will probably raise the financial profile of the Japanese fintech companies as well as expand the business opportunities for Singapore in wider Asia.

Views of Chia Hock Lai about the MOU

Chia Hock Lai, the president of Singapore Fintech Association, said that this partnership will lead to fill the gap between the fintech communities of Japan and Singapore. Natalie Shiori Fleming, Vice Chairperson of the FAJ, also exclaimed his thoughts in this regard. According to him they are looking forward to increase interaction and cooperation level between respective markets of the two countries through a deeper relationship.

Japan’s Financial Services Agency (FSA) has also updated legislative rules and regulations in order to improve cooperation and interaction level between traditional banks and fintech companies. Same is the case with Monetary Association of Singapore (MAS) in case of fintech related innovations.

Reasons to Promote Fintech

An overview of the above details may arouse questions in your mind regarding fintech. First of all, what is the reason behind so much dependability and concentration on fintech?

Answer to this question in a single phrase is:

The financial industry is more than ever focused on technological innovation than it was at any other time.

All the major countries are become fintech dependent with the passage of time. At the moment, North America is leading fintech startups while Asia is following. A bird’s eye view of some of the most active areas of fintech innovation are as follows:

  • Digital cash in the form of cryptocurrency.
  • Blockchain technology, to maintain records with no central ledger.
  • Computer based smart contracts.
  • Cybersecurity and fintech are interlocked.

According to the modern day financial experts, fintech will have the same impact on future financial affairs as was of mobile phone and social media in case of communication era.

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