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Bitcoin question surge
signal that. Question is, will bitcoin go the same way? We havent seen a higher-high on the Weekly in well over a year. This would be lovely, Patel noted. The sheer excitement over bitcoin as its value climbs has fueled momentum in the form of additional investment and higher prices.
"The general public is starting to realize that cryptocurrency is beginning to be adopted to mainstream markets." Yu said. Read: SA bitcoin prices surge as rand weakens, its champions touted the arrival of blockchain into the mainstream, the coins underlying technology which they say can lift the poor out of poverty and make transactions more secure, inexpensive and efficient. The exchange has since repaid its customers. Obviously that sort of move your bitcoin acc no would need a strong catalyzer, but anything is possible when it comes to price action, he explained. Not Recognized By Governments The general public doesnt understand bitcoin, and many regulators still dont either, which makes it tough to regulate. At its height last week, one bitcoin could buy about two ounces of gold. Some experts have suggested that the bitcoin price explosion began when traditional financial industry players finally started paying serious attention to the currency.
The crypto currency promises salvation and quick returns in equal measure, inviting speculative investment. This months ransomware attacks serve as a reminder that bitcoin is still beloved by hackers and criminals because of its anonymity. The cryptocurrency plunged in 2014 after Tokyo-based. Gox - then the largest bitcoin exchange - said it had been breached and then filed for bankruptcy. As the surge sends the cryptocurrency world into a frenzy, it can be easy to lose sight of the bigger picture.