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Bitcoin cost has surpassed $12,000 in both South Korea and Japan, two noteworthy bitcoin markets that are responsible for around 74 percent of worldwide bitcoin exchanges.

Bitcoin In South Korea: $12,653

In South Korea, bitcoin is being traded at a premium of over $1,270. Though, not as high as rates provided by ETNs (Exchange Traded Notes) or GTBC (Greyscale Investments), it still significantly expensive to buy bitcoin in South Korea or Japan.

At its peak, bitcoin accomplished an untouched high in South Korea at $12,653, as the worldwide bitcoin cost neared the $11,000 check.

Dealers in South Korea still invest into bitcoin with a high premium despite South Korea being the third biggest bitcoin market because the supply of bitcoin from the local market is low and the demand has increased at an exponential rate in the course of recent months.

Bitcoin In Japan: $11,827

While the premium in Japan isn’t as high as South Korea, it’s still higher than the premium of other countries, such as the US.

At the time of writing, Bitcoin is being exchanged at over $11,500 in Japan, roughly $1,000 higher than that of the worldwide bitcoin normal cost.

As indicated by a few crypto market suppliers including CryptoCompare, the Japanese bitcoin exchange market represents 64 percent of worldwide bitcoin exchanges, almost twice as large as the US. However, the worldwide normal bitcoin cost is often based on the exchange rate in the US, and the cost of bitcoin in Japan is regularly 5 to 8 percent higher than that of the US.

As the biggest bitcoin market, Japan needs to have the highest liquidity and the supply of bitcoin. Subsequently, there should not be a high premium of 5 to 8 percent in the midst of strong rallies, because being the largest market, it should have adequate liquidity and supply to address the developing interest from financial specialists.

For a long time, experts have scrutinized the zero-fee exchanging stages of Japan, and the likelihood of wash or bot trading. It is likely that like China, trading volumes in Japan are swelled, given its high premium rates.

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Bitcoin Price: Top Cryptocurrency Struggles to Surpass The $9,000 Mark

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The price of bitcoin has finally surpassed $8,500 and all major coins are also struggling to hit their all-time-highs, which shows that the cryptocurrency market is finally seeing a recovery. The market has been seeing its longest downfall since December and the cryptocurrency market cap altogether dropped by $18 billion recently, however, things are now getting rebounded once again.

Bitcoin Price still struggles to surpass $9,000:

On Tuesday, the price of Bitcoin made another push and was trading at $9,000, which demonstrated the significance of its mark but after not so long, it got stuck at $8,999 and started to flip once again. This decline in the price of Bitcoin continued till the early morning hours throughout Tuesday and BTC ultimately experienced a slight bump by hitting a low of $8,313. Bitcoin is valued above $8,800 at this very moment, which means that it has got the market cap of $148 billion with 1% upsurge in its worth, but still bitcoin struggles to surpass the $9000 mark.

 

Upsurge in Ethereum Price:

The price of Ethereum has seen an upsurge once again, as it was declined by 4% on Tuesday, but at the present time, it’s priced at $864. Ethereum has now increased by 1.6%, which translates that it has the market cap of $84 billion at this time. Despite the fact that it has declined recently, the looming introduction of CryptoKitties in China has to be monitored by the investors of Ethereum as it could provide the price of Ethereum with a very little bounce.

Altcoin Charts:

100 largest cryptocurrencies of the market have managed to stand against the US dollar which ended up in the favour of altcoin markets, in which few cryptocurrencies that showed a single-day gain didn’t rank in the market cap top 10, whereas the top cryptocurrency bitcoin, struggles to achieve its all-time-highs.

The price of Ripple has seen a 1.3% decline, which indicates that the investors are becoming more proficient at extricating information that is helpful for the Ripple company. In the meantime, the price of Bitcoin Cash is currently trading at $1,282 and has seen 3.60% upsurge.

The sixth one on the ranking, Cardano has borne a 0.58% upsurge in its value and is now trading at $0.37. A serious challenge is now being faced by the Cardano’s ADA token from EOS, which has the 9th largest market cap, $6 billion.

The price of Litecoin has seen 15% upsurge in the value which means it’s currently valued at $182, while NEO which is on number 8th in the ranking is priced at $113 with a 0.75% upsurge.

IOTA and Stellar have seen a 3.8% and 6.7% upsurge in the price respectively and their prices are valued at $1.8 and $0.5 individually.

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Bitcoin Almost Triples the Price of Gold

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Two merchants, Brian Stutland of Equity Armor Investments and Path Trading Partners’ Bob Iaccino are least concerned about the tripling of Bitcoin’s price against gold and claim gold to still be a better bet.

While gold was exchanging at $1,280, Bitcoin has soared 240 percent this year to a high of $3,288 on Wednesday. However, Stutland and Iaccino trust gold is a superior wager than Bitcoin from technical and fundamental perspectives.

“When you look at gold over the past couple of months, [it has] tracked very well [relative] to the cryptocurrency,” Stutland told CNBC’s “Futures Now.” “If you price adjust and volatility adjust, I think gold still has a little bit of catching up to do.”

Iaccino believes that bitcoin’s popularity is undeniable yet it’s still highly unstable and could easily be replaced by another cryptocurrency.

“Bitcoin, right now, is the most popular [cryptocurrency] and it is the most valuable one,” he said. “But I don’t see it as a store of value because any [other cryptocurrency platform] could come out with a slightly better technology and completely replace Bitcoin.”

Moreover, on Wednesday, gold rose more than 1 percent, being one of the biggest safety trades during times of possible chaos. Bitcoin, on the other hand, fell back to the previous gains shown this week as it drops by 3 percent.

 

News credits: cnbc.com

image credits: cnbc.com

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A Violent Shock For JPMorgan Chase As the Lead Quits

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JPMorgan Chase & Co is a well known financial services company which operates around the globe. Along with blockchain projects its financial operations include:

  • Corporate & Investment Bank,
  • Consumer & Community Banking,
  • Asset & Wealth Management,
  • Commercial Banking.

blockchain startups

Founded in 1799, JPMorgan Chase & Co. has its headquartered in New York and is thought to be one of the most dependable financial services company. All was going on very well for the company until Amber Baldet, an executive leader of JPMorgan’s blockchain, decided to quit the company in order to head for her own new Blockchain initiative.

Who In Fact Is Amber Baldet?

Amber Baldet was one of the main executive leaders of JPMorgan’s blockchain business. She was head of the development of JPMorgan’s authorized Blockchain platform. She had been acting as the lead for project development of Quorum as well as working on the firm’s overall Blockchain technologies strategy. In true words she was the architect of JPMorgan’s blockchain startups, securing a critical position at JPMorgan’s Blockchain Center of Excellence. She has done so in order to launch her own blockchain firm. Quorum is JPMorgan’s Blockchain and smart contracts platform.

 

Amber Baldet was nominated as one of the most influential people in the history of Blockchain by BlockDesk in 2017. She was heading the JPMorgan’s Blockchain Center of Excellence since it was founded in 2015. She was considered to be the most precious assets of JP Morgan in terms of blockchain endeavours.

Who Will Take Over Amber Baldet’s Position?

It took a very short time for JPMorgan’s executive committee to name Baldet’s successor. Christine Moy has been appointed as the new executive leader in place of Amber Baldet. She was the senior product manager working under the supervision of Amber Baldet and by chance was also appointed by her. In fact she had been working with Amber Baldet since the very beginning of the blockchain project. Later on the company admitted in a statement that Amber Baldet was no doubt extremely committed and helpful for JPMorgan to build an outstanding team. Christine Moy  was one of the team members who was groomed and trained by Amber Baldet herself.

 

Baldet’s departure from the company was after all on good terms, as was exclaimed by JPMorgan spokesperson in an interview with Reuters, he stated that the company had a respect and best wishes for her as well as her desire to start her new venture.

 

As far as the case of smart contract platform Quorum is concerned JPMorgan considers it to be the “enterprise-focused version of Ethereum.” It is basically meant for the clearing of interbank payments with the help of blockchain.

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Is Crypto Ad Ban Going To Be A Blessing In Disguise?

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According to the most hot and circulated ICO news 2018 is going to be a year of ban for crypto ads. Internet’s largest platforms have already started to ban all sorts of crypto advertisements.

Even the giants of internet like Facebook and Twitter announced crypto ad ban last January. Reddit took the same decision way back in 2016. Google is being expected to do the same in the near future. It is quite obvious that almost all those websites which are short sure for traffic generation purposes would follow the same protocol in case of crypto industry. No doubt all that scenario was full of hurdles for the crypto industry. Even in terms of cryptocurrency startup it was a big barrier extremely difficult to be crossed. But the crypto researchers and markets entrepreneurs are not looking at it in the same way. They do believe that all that way full of hurdles might prove to be a road of success in the near future. Let us see why they are so much optimistic about it.

crypto ads

How Can This Ban Turn Into a Blessing?

Well for the time being it might be a bad luck for the crypto advertisement but according to various web platforms that are directly related to the crypto industry are quiet optimistic about it. For instance, a website which for the time being does not want to disclose its name due to several reasons, has exclaimed that it will offer its complete platform for the advertisement purposes of crypto. In other words it will lend a hand to make it possible for the crypto startups reach potential investment opportunities. Same idea has been presented by some other giants of the Silicon Valley. No doubt this act will turn that ban into a total blessing, however many things and options must be considered and availed respectively, before the proper implementation of that marketing strategy.

Main Reason Behind the Ban

According to a statement issued by social media giant Facebook the reason for such a drastic ban on crypto related advertisement was only because of the scams associated with the initial coin offerings that come under the definition of misleading or deceptive promotional practices. Especially those tokens which are offered at low prices on these advertisement platforms have proved to be the main target of scammers. Even the Securities and Exchange Commission has declared these tokens unlawful which according to it are securities and must be listed with the agency.

 

On the other hand, entrepreneurs and crypto analysts are agreed upon the fact that by banning such advertisements, Google, Twitter and even Facebook are going to lose a great earning opportunity.

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