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US markets are celebrating as Bitcoin price soars above $2000 for the first time in history. Bitcoin’s price has surged more than 100% this year and nearly 125% since hitting an annual low of $891.51 in late March. Due to the price recently hitting new heights, the price appreciation will increase dramatically as well.

 

Bitcoin Price accelerates

 

Growing trader interest

The advantage of such sharp price gains is the rising interest of traders as measured by trading volume at major exchanges. Both Kraken and Poloniex had reportedly announced that they were experiencing surging bitcoin transaction activity.

Bitcoin Price accelerates

 

 

A number of factors have been driving the rally:

  • Trading volumes of Japanese yen and Korean won have escalated and account for around 48.6 percent of trading, according to stats from website CryptoCompare. That’s thanks to a recently passed law that allowed retailers in Japan to begin accepting Bitcoin as a legal currency. Since then, Japan has been a big driver of bitcoin trade.
  • Bitcoin has acted as a safe option, in the past, for investors that worry about political instability and the performance of other asset classes.
  • A debate within the bitcoin community about the future of the technology behind Bitcoin known as the blockchain has been taking place. At the moment, Bitcoin transactions are taking an unusually long time to process and come with high transaction fees. There was fear at one point this could lead to the merging of two different cryptocurrencies but those doubts have largely subsided with an alternative, more acceptable option being put forward.

All these factors add up to the rise in Bitcoin’s value in the shortest of time. According to CoinDesk, several billion US dollars have flowed into bitcoin last week, bringing its market value to more than $37 billion. In the end, as Bitcoin grows to gain more popularity and accessibility around the globe, its price will continue to soar as high as it can go.

 

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Altcoin – Top 5 Altcoin Zoo with Animal Mascots

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Did you ever think about that how many currencies in the crypto market are using animals as their mascots??? Well, I don’t think so.

Today’s article is about top five altcoins with animals – by the way, all mammalian as mascots. Few coins are still active, whereas others are either past or resting at the pet mausoleum.

DogeCoin:

Dogs are the well-known devoted animal to humans. Nearly everyone has dogs as a pet. So, we will start with Dogecoin. In addition, this coin’s mascots are a specific dog – it is a doge, a Japanese Shiba Inu named Kabosu based actual meme dog.

Doge – a dog, not only a coin – became common in 2013. But, now no need to describe it more. Nonetheless, if you were living under last four years: the meme is a Shiba Inu picture with captions. These captions are decisively grammatically inappropriate. And, are assumed to reproduce the dog’s thoughts. Isn’t scary and such insecure, for example.

At the end of this year, Dogecoin was launched as Joke currency. This idea was belonging to the Billy Markus from Portland Oregon. Joke currency or not? but Dogecoin is still alive with the market cap of $344million.

TrueFlip:

A dolphin wearing glasses and a top hat. We know dolphins are intelligent and vastly social animal around the world. They have friendly nature and also trained to save lives of some people.

Basically, TrueFlip is a worldwide famous platform where you are allowed to buy tickets and win prizes in digital currencies.

Bitcoin blocks random hashes are openly used to draw some numbers for lottery and code used to run the game. This firm’s aim is to become world’s popular blockchain lottery. If this occurs, its jackpot would be high as $8 million worth of Bitcoin or maybe more.

altcoin exchange

NyanCoin:

We have another meme coin and this is Nyancoin, created on Nyan cat meme, an archenemy of dogs.

Nyan cat was turned to crypto-market early in 2014. Moreover, this word was derived from the Japanese word for cat’s meow. After a long relaxed, Nyan comeback this April with the market cap $394,000.

PandaCoin:

So, we are moving toward China now. Where we find big fluffy Pandas, who became the mascot. PandaCoin was launched on 14 February 2014, and now its market cap is around $1.5 million.

NeuCoin:

Fine, NeuCoin is a newbie to the world of altcoin exchanges. A blue squirrel NeuCoin’s mascot was belly up in late 2016. Just like a quick and small animal, the squirrel needs strong effort for effective ICO, who has a direct focus on tipping and micropayments. NeuCoin combined two games on one platform Facebook: Solitaire Racer and SongQuest.

So, Who’s next?

After the research, we can say that altcoin with animal mascots are on the way of fame. It is depending on the acceptance of the coin among the community.

 

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How China & Japan Helped Drive Cryptocurrencies’ Price to Rise?

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Digital currencies such as Bitcoin, Ripple, and Ethereum have been soaring pretty high over the past few months. According to the latest estimates:

  • Bitcoin currently stands at $2588 per BTC
  • Ripple has hit the market cap of $10 billion
  • Ethereum has reached a total market cap of around $20 billion.

This incredible growth in value is the outcome of efforts put in by two countries – China and Japan.

CHINA:

China has been leading the Bitcoin market for the last couple of years. The Chinese mining pools are in charge of 60% of the Bitcoin network’s hash rate. Also, with a cheap electricity and access to proper hardware, China provides the ideal ground for digital mining.

However, in February 2017, three of China’s biggest Bitcoin exchanges suspended all withdrawals due to increased concerns over money laundering and capital flight. BTC China, Huobi, and OKCoin declared in separate statements that they will lift the suspension after the proper implementation of new guidelines set by the Central Bank.

Luckily, during June, there was an announcement that the self-imposed halt on withdrawals by Bitcoin exchanges was no more in place. The news took China by storm. The citizens responded with complete enthusiasm, assuring that they have complete confidence in digital currencies.

JAPAN:

While China was on a halt in the beginning of the year, Japan took Bitcoin to an entirely new level. Towards the start, Japan barely took up 1% of the total Bitcoin market in trading volume. However, that soon changed as Japan now holds at least 6% of trading volume at the moment.

Moreover, Japan has entirely eliminated the tax on Bitcoin and other cryptocurrencies, a move which will ultimately increase the trading activities within the Japanese exchange market. The main aim behind this move was to ensure that all transactions take place without having to deal with any external factors such as taxes. Now, Bitcoin traders and businesses can run smoothly and easily access cryptocurrencies in the country.

Furthermore, Large institutions in Japan have now begun to accept Bitcoin as a payment option. Japan’s largest exchange, bitFlyer, now has the backing of all of Japan’s megabanks: MUFJ, Mizuho, and SMBC. In addition, Bic Camera, a very popular retailer, has paired with bitFlyer to accept Bitcoin at all of its locations. As the acceptance of digital currencies by influential retailers increases, the Japanese have begun to trust digital currencies for daily transactions.

Both the Chinese and Japanese, are responsible for boosting Bitcoin’s value to new heights.

Acceptance by The Government:

The Japanese Government is determined to provide their business community with a proper secure environment, where they are able to easily access cryptocurrencies and conduct trading activities. They’ve already assured that all their retail stores are well-equipped with the right security systems to prevent money laundering and fraudulent transactions from happening.

Ultimately, both governments are driving the cryptocurrency’s growth off the charts, with China in plans of designing and launching its own currency and Japan legally classifying Bitcoin a form of payment.

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What is Bitcoin and How Does it Work?

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Introduction to Bitcoin

Bitcoin is a new cryptocurrency in the digital world. To begin with, the bitcoin network isn’t under control of any one central authority with Bitcoin investment. Which means, no banks! No need of heavy fees for transactions. No need of central authority’s order to confirm the transaction and you can carry out transactions anonymously. Also, bitcoin stores details of every single transaction that ever happened in the network, in a huge version of a general ledger called the blockchain, which keeps a record of every transaction and verifies them through proper ways.

How Bitcoin works?

Bitcoin is pretty much like cash for the internet and is used to purchase things electronically.

How does Bitcoin work?

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