Bitcoin price increased to $7,000 because the world biggest exchange called CME announced they will launch bitcoin trading on their platform by the end of this year. That is why a lot of investors everywhere around the world are putting their money into bitcoins - planning to start trading bitcoins on CME when they later launched bitcoin trading on their platform.

Due to the fact bitcoin gained over 800% increase in value this year, bitcoin price has the ability to reach $10,000 by the end of this year.
The world biggest exchange called CME - had recently announce they will launch bitcoin trading on their platform by the end of the year and that too might help boost the bitcoin price may be to $10,000 by the end of the year. 

I can't tell how many times i do refresh my browser willing to see how bitcoin price change!
I used to think i'm alone doing this, but now i see we are so many. Sometimes, I refresh my browser when i woke up from sleep before I go back

The reason why bitcoin price drop whenever bitcoin set the new all-time record high in price is because of the market correction.
As you already know every product in the market whether stock market or physical product the price is normally determined based on demand.
So, it is the same thing applied to bitcoin. Therefore, when the value of bitcoin reached the highest level - it will then drop because not a lot of people are able to buy and some people will start selling their bitcoins for profit. When the market stabilized then the price will started recovering slowly when people started buying again.

Definitely, buy more bitcoins as many as possible. i'm currently regretting everyday why i didn't buy bitcoins when it was cheap.
I wish there is a way to back in time - like in the movies "Back to the future" or "The Time Machine" to buy more bitcoins and retire for life.

I don't consider calling bitcoin a bubble rather the new invention. If you look at the history a lot of new inventions and latest technologies - media/people tend to give them mean names such as bubble or boom. In fact, so many people failed to buy bitcoins when they had the chance during the time when bitcoin was selling very cheap and yet biting their fingers for no reason to... I think whenever there is new invention trying to go mainstream, media use to give it a name also trying to distract people from it more especially when media doesn't know much about it, such as bitcoin. Modern day media is full of sh*t that has no meaning sometimes, you have to be very careful when reading it because it's full bias and negative things most of the times.

Bitcoin price was increased recently because the world biggest exchange CME announced they'll later introduce bitcoin trading on their platform by the end of this year, 2017. Bitcoin value is growing everyday because there is high demand of bitcoin by people around world. Lots people are now buying bitcoins because they see bitcoin as an opportunity and also has huge potential in the future. Bitcoin is now making a lot people rich by just buying and holding because the price is on the steroid.

BTCC Chief Bobby Lee on SegWit2x and China’s Bitcoin Exchange Ban


BTCC chief executive Bobby Lee does not think China currently has any plans to ease its hostile stance on domestic bitcoin exchanges, nor does he intend to reverse his support for the controversial SegWit2x hard fork that is scheduled to activate this month.

Lee made these statements during an Ask Me Anything (AMA) held on the BitcoinMarkets subreddit. Although the AMA touched on a number of topics, the vast majority of questions related to SegWit2x and the future of bitcoin in China.


SegWit2x & the New York Agreement

The SegWit2x hard fork, originally put into motion by the New York Agreement (NYA) and scheduled to activate in approximately two weeks, was the preeminent topic of discussion. BTCC — best known for its bitcoin exchange and mining pool —  is an NYA signatory, and many participants wanted to know whether Lee intended to continue supporting SegWit2x, and if so, how BTCC intended to treat the incumbent blockchain following the fork.

Lee reaffirmed BTCC’s commitment to the NYA, stating that he believed bitcoin should continue to scale on-chain as well as through second-layer solutions. Because he considers SegWit2x to be a planned upgrade to the bitcoin protocol, he brushed off concerns that its developers should implement replay protection, which would ensure that there is a clean break between the incumbent and forked blockchains following SegWit2x activation.

    “Replay protection is not needed for change-of-consensus upgrades to the bitcoin network. That’s been the consistent practice over the past nine years,” he said.


Lee further incited the ire of SegWit2x opponents — including his own brother, Litecoin creator Charlie Lee — by suggesting on multiple occasions that the incumbent bitcoin blockchain will be an altcoin following the hard fork’s activation. When asked how BTCC would respond if the incumbent blockchain prevailed against the forked chain, he stated that it would mean that an altcoin had become the most valuable cryptocurrency:

    “If the bitcoins on the upgraded bitcoin blockchain (SegWit2x) become less valuable than altcoins, then that’s the market deciding that bitcoin is no longer number one, and an altcoin has taken over the top spot,” he said. However, I will not just rename the most expensive altcoin to “bitcoin” just because it has the highest market value.”

Charlie Lee was not amused. “Extremely lame,” he tweeted in response. “Bitcoin (BTC) is not an altcoin. I have explained to you multiple times that miners don’t decide consensus.”


China’s Bitcoin Exchange Ban

Prior to its closure in September as a result of the Chinese prohibition on cryptocurrency exchanges, BTCC’s Chinese trading platform was the longest-running bitcoin exchange. Consequently, many participants were curious to hear Lee’s take on the Chinese government’s stance on cryptocurrency.

Specifically, Lee was asked about the recent rumors that regulators are preparing to allow bitcoin trading to resume in a heavily-regulated environment. He stated that he does not believe they are true.

    “I’ve also heard those rumors, but from what I can see here on the ground, there are no plans for bitcoin exchanges to reopen in China,” Lee said, “Certainly, it’s possible for policies to change in the future, as nothing is permanent in life. But change can happen in weeks or months, or take years or decades…..What positions Chinese authorities take in the future and how they regulate bitcoin and other cryptocurrencies is really up to them.”

Despite this uncertain future, Lee stated that bitcoin’s future in China remains bright. “I strongly believe that bitcoin will remain popular in China and will continue to increase in popularity there, just like how it has worldwide,” he concluded.


Source: https://www.cryptocoinsnews.com/btcc-chief-bobby-lee-on-segwit2x-and-the-chinese-bitcoin-exchange-ban/

Icelandic Singer Björk Accepts Bitcoin for New Album, Rewards Buyers with Cryptocurrency

Björk is encouraging her fans to purchase her forthcoming album with cryptocurrencies, giving them the chance to earn rewards too.

The Icelandic avant-garde icon’s ninth album, Utopia, is expected to be released on the 24 November. Teaming up with London-based Blockpool, a B2B blockchain framework, Björk has allowed for four different digital currencies to be used to buy her album, reports The Times. These include bitcoin, litecoin, dashcoin, and audiocoin.

Those who pre-order her album through her website or Björk’s record label One Little Indian will receive 100 AudioCoins. These can then be converted to other cryptocurrencies. At the time of writing, that amounts to just over $0.25. The reward will be deposited into an e-wallet created for them by Blockpool. It may also be possible for fans to be rewarded with more audiocoins by sharing links to Björk’s music and merchandise on social media.

According to Blockpool, current streaming services are failing to provide artists with fair incomes, stating that ‘decentralised music currency rewards fans and artists at the same time.’

With the use of the blockchain artists will receive payment from fans at the same time as fans receive the music on their computers. By cutting out the middleman, artists don’t need to worry about seeing a cut from the album sales.

This move by Björk marks a significant step by a major artist to back the use of digital currencies in the last few years. In October 2015, Imogen Heap, Grammy Award-winning U.K. singer, songwriter, and producer, released her song Tiny Human on a smart contract. Blockchain startup Ujo Music worked with Heap on the project. Fans of Heap were able to pay for her single with ether.

Last October, while speaking at the Oslo Innovation Week, Heap explained that it was time that the industry reinvented the way in which people discover new content and how creators get paid. In her opinion the blockchain presents the solution to many of the issues surrounding the music industry.

According to Kevin Bacon, Blockpool CEO, while people have done things involving cryptocurrencies and artists before, this is the first time it has been achieved on this scale by a major performer.

Music Ally reports Bacon as saying:

    "While it will be interesting to see how the crypto community responds to this, Utopia is also a gateway for people to go into crypto for the first time. Björk is the best artist in the world we could imagine doing this".



Source: https://www.cryptocoinsnews.com/icelandic-singer-bjork-accepts-bitcoin-new-album-rewards-buyers-cryptocurrency/

Here Are the Big Names Who Are Backing and Slamming Bitcoin

   - Credit Suisse’s Thiam says currency fits bubble definition
   - The cryptocurrency has Goldman’s Blankfein on the fence

Is bitcoin a legitimate asset, or a super-bubble waiting to implode? As prices for the cryptocurrency skyrocket, investors and pundits are increasingly taking sides.

Whether you’re a backer or a detractor, what’s not in doubt is bitcoin’s dizzying rally this year. The most widely used digital currency crossed the $7,000 mark on Thursday and is up more than 650 percent in 2017. It’s managed to whip past the $100 billion total value mark despite governmental crackdowns and mainstream market skepticism. Bitcoin was trading at $7,218 at 9:37 a.m. New York time on Friday.



With the rhetoric for and against heating up this week amid bitcoin’s barreling gains, here’s a look at where some big names in finance stand -- from those who see it as the natural evolution of money, to the naysayers waiting for the asset to crash and burn.


Bitcoin’s Backers

   - The digital currency’s evangelists are led by Roger Ver, known in the industry as “Bitcoin Jesus.” Ver remains optimistic about bitcoin’s sustainability amid attempts from governments like China to curb some of the more speculative elements of trading. “The only way to stop (bitcoin) is to turn off the entire Internet in the entire world and keep it turned off,” he said in a September interview with Bloomberg News.
   - Some countries are jumping on the bitcoin bandwagon, with Argentina’s most important futures market considering offering services to investors in digital currencies, while Turkish Central Bank Governor Murat Cetinkaya said digital currencies may contribute to financial stability if designed well.
   - Ronnie Moas, who for the past 13 years has made more than 900 stock recommendations via his one-man show at Standpoint Research, upped his 2018 price forecast to $11,000 from $7,500 on Friday. He maintained his $50,000 target for 2027, though he said it was conservative.


Bitcoin’s Detractors

   - Severin Cabannes, deputy chief executive officer at Societe Generale SA, was the latest big bank official to weigh in, saying that “Bitcoin today is in my view very clearly in a bubble,” in a Bloomberg Television interview Friday.
   - Speculation around bitcoin is the “very definition of a bubble,” Credit Suisse Group AG CEO Tidjane Thiam told reporters in Zurich on Thursday. “The only reason today to buy or sell bitcoin is to make money,” and such speculation “has rarely led to a happy end,” Thiam said.
   - Themis Trading LLC raised a red flag this week after CME Group Inc. announced plans to introduce bitcoin futures, saying the world’s largest exchange owner appeared to have “caved in” to pressure from clients. “A bitcoin future would be placing a seal of approval around a very risky, unregulated instrument that has a history of fraud and manipulation,” the firm said in a blog post.
   - JPMorgan Chase & Co. CEO Jamie Dimon remains one of Wall Street’s most strident bitcoin opponents, saying in October that people who buy the currency are “stupid” and that governments will eventually crush it.


On the Fence

   - While CME’s decision to offer bitcoin futures by the end of the year appears to be an endorsement of the currency’s viability, CEO Terry Duffy demurred when asked whether he’s concerned about a potential bubble. “I’ve seen a lot of different bubbles over the last 37 years,” he said on Bloomberg TV. “It’s not up to me to predict if it’s a bubble or not -- what I’m here to do is to help people manage risk.”
   - Goldman Sachs Group Inc. CEO Lloyd Blankfein isn’t sure what to make of bitcoin and is unwilling to reject the digital currency just yet. “I know that once upon a time, a coin was worth $5 if it had $5 worth of gold in it,” Blankfein said in another Bloomberg TV interview. “Now we have paper that is just backed by fiat ... maybe in the new world, something gets backed by consensus.”
   - While Thomas J. Lee of Fundstrat Global Advisors has turned cautious on bitcoin in the short term because of its big gains, he remains a long-term bull on the digital currency -- maintaining a 2022 price target of $25,000.



Source: https://www.bloomberg.com/news/articles/2017-11-03/big-investors-are-taking-sides-in-bitcoin-s-great-bubble-debate

Hi Sylon,

You forgot to update my forum rank and posts count on the spreadsheet.

Thank you.

$200 Billion: Bitcoin Price Catapults Crypto Market Cap to New Record High

The cryptocurrency market cap achieved another historic milestone on Friday, touching the $200 billion mark for the first time in its history. Unlike yesterday’s record advance — which was single-handedly carried out by the surging bitcoin price — today’s movement was the result of a joint rally by almost every top 100 coin.



Source: CoinMarketCap

The crypto market cap entered the day positioned just below $190 billion. That number ticked up leading into Friday morning, and at 2:00 UTC it began to soar. By 5:00, it had added another $5 billion, and it floated past $200 billion less than 4 hours later, eventually peaking at a new all-time high of $201.9 billion.



Source: CoinMarketCap

Bitcoin Price Soars Past $7,450

The bitcoin price continued to grab the headlines by leaping to yet another all-time high. Yesterday, bitcoin had extended as high as $7,350 before a flash crash halted its advance. However, traders had no trouble punching back through this mark on Friday, and the global average bitcoin price achieved a new high-water mark of $7,461. The bitcoin price has since tapered to $7,303, but this still represents a dizzying weekly gain of 25%. Bitcoin now has a market cap of nearly $122 billion.



Bitcoin Price Chart | Source: CoinMarketCap

The advance continues to appear linked to the revelation earlier this week that CME Group, the world’s largest derivatives exchange, intends to list bitcoin futures contracts. David Johnson, CEO of Latium, a tasking platform that pays its users in cryptocurrency, told CCN that he believes the CME announcement “opens the door to using Bitcoin as a true tender”.

    "Bitcoin futures provide the required infrastructure for any business to participate in the Bitcoin phenomenon while mitigating market risk. The ability to hedge market risk is a requirement for any business looking to accept payment in a non-native currency".

“Opening a first of its kind futures market is a game changer for the global acceptance of Bitcoin as a real-world currency,” Johnson continued. “This release proves that Bitcoin is no longer the ugly stepchild of the financial world, but a true financial asset respected by all.”

Ethereum Price Floats Back to $300

Ethereum, like most other cryptocurrencies, has not fared well during bitcoin’s month-long rally. While the flagship cryptocurrency has been posting record highs on an almost daily basis, ethereum has struggled just to tread water. Earlier this week, the ethereum price began to dive below $300, which had been its support level for much of the past two months. However, ethereum joined in the upward movement on Friday, enabling its price to float back near the $300 mark. At present, the ethereum price is trading at $297, which translates into a $28.3 billion market cap.



Ethereum Price Chart | Source: CoinMarketCap

Altcoins Join the Rally

Altcoins have taken a beating in recent weeks as traders have consolidated their holdings into the surging bitcoin markets. However, the crypto markets made a unified advance on Friday, and nearly every top 100 cryptocurrency posted a net gain.



Source: CoinMarketCap

Bitcoin cash resumed its recent surge, posting a double-digit gain for the second consecutive day to increase its price to $648 — its highest mark since early September. Bitcoin cash now has a market cap of $10.9 billion, giving it a nearly $3 billion edge on fourth-ranked ripple.



Bitcoin Cash Price Chart | Source: CoinMarketCap

Ripple may be losing ground on bitcoin cash, but its 24-hour performance was second-best among top-tier coins. The ripple price rose 7%, increasing its market cap to near $8 billion. Litecoin and bitconnect each climbed 4%, while NEO achieved a 6% recovery to raise its price to $26. Dash, NEM, and monero posted less impressive gains, but they each managed to make minor advances of about 2%.


https://www.cryptocoinsnews.com/200-billion-bitcoin-price-catapults-crypto-market-cap-to-yet-another-record/

Bitcoin Price Sets New Record As Cryptocurrency Market Tops $200 Billion

Amid a surging cryptocurrency market, bitcoin price gains have continued today, reaching a new all-time high of over $7,450.

A rapid rise starting around 03:00 UTC saw the cryptocurrency peak at $7,454 at 10:38 UTC. The session opened at $7,030. At press time, the price of a bitcoin is down slightly $7,402, according to CoinDesk's Bitcoin Price Index – a 5.29 percent gain for the day so far.

As per CoinMarketCap, bitcoin is up over 27.15 percent for the last 7 days, and its market capitalization has now peaked at over $124 billion.

The combined market cap for all cryptocurrencies has also once again reached record levels, passing $202 billion for the first time.



Source: https://www.coindesk.com/bitcoin-price-sets-new-record-as-cryptocurrency-market-tops-200-billion/

Wall Street strategist Tom Lee is urging investors to exercise caution following the bitcoin price’s staggering advance during the first week of November.

The bitcoin price has risen to dizzying heights this week, and that advance continued on Friday as bitcoin began to test the $7,500 mark for the first time in its history. At present levels, bitcoin is up 25% for the week, nearly 75% for the month, and more than 700% for the year.



BTC Price Chart | Source: BitcoinWisdom

As Bloomberg reports, Wall Street strategist Tom Lee is concerned that bitcoin be setting itself up for a correction. Lee, the head of research at Fundstrat Global Advisors, urges investors to exercise caution, even in the wake of optimistic news such as the recent announcement that CME Group will launch bitcoin futures contracts.

Lee’s tepid tone is not unusual on Wall Street. Many executives and analysts remain unconvinced that bitcoin has staying power.

However, unlike the legion of skeptics in the mainstream financial industry, Lee is one of bitcoin’s most ardent supporters and has earned a reputation as the biggest bitcoin bull on Wall Street. For months, Lee has grabbed headlines with his prediction that the bitcoin price will reach $6,000 by mid-2018 and $25,000 by 2022.

However, the bitcoin price has now exceeded Lee’s short-term price target by more than $1,000, and he is concerned that the rally is getting ahead of itself, citing “contemporaneous fundamentals” in a note distributed to Fundstrat clients this week.

Fundstrat’s bitcoin valuation strategy is modeled off of Metcalfe’s law and predicts that bitcoin’s fair market price is the square of the number of its users times the average transaction value. Lee claims that this model accounts for bitcoin’s recent trajectory with more than 90% accuracy, and he does not believe the network’s user base has grown enough to justify the present bitcoin price.

In the near-term, Lee recommends purchasing bitcoin if it falls into the $5,500 range and purchasing shares of the Bitcoin Investment Trust (OTC: GBTC) at $750, but he maintains his mid-2018 price target of $6,000 and five-year target of $25,000.



Source: https://www.cryptocoinsnews.com/bitcoin-bull-tom-lee-cautious-as-bitcoin-price-nears-7500/

The State Bank of India is gearing up to implement blockchain solutions in a number of financial processes including the management of its Know Your Customer (KYC) system.

As a public sector bank, government-owned State Bank of India (SBI) is India’s largest banking corporation with assets over $460 billion and services in a number of areas including retail and corporate banking as well as financing and insurance. Earlier in February, SBI took the lead to establish ‘Bankchain’, India’s first financial blockchain consortium comprising of India’s biggest banks (both public and private) alongside technology companies including IBM and Microsoft to develop and implement blockchain applications in the financial services industry.

SBI is now pressing ahead with its first implementation of the decentralized technology by using an enterprise blockchain solution for managing its Know Your Customer (KYC) system, via a new partnership with Intel that sees the technology giant become the consortium’s official technology advisor.

The enterprise blockchain will run on Hyperledger Sawtooth, a modular platform for developing and deploying blockchains, developed by Intel – a member of the open-source Linux Foundation-led Hyperledger project. The blockchain will also be supplemented by Intel Software Guard Extensions (SGX) to boost the blockchain’s privacy, security and scalability. The blockchain solution will be delivered by Primechain, an Indian blockchain startup powering the Bankchain consortium.

As reported by the Economic Times, the new blockchain solution will boost the efficiency of financial institutions without comprising on data confidentiality and transaction security.

According to SBI’s head of innovation Sudin Baraokar, the public sector bank is keen to develop blockchain use cases through collaborations with other banks to hasten the process of deploying beta platforms.

The SBI official stated:

    "By leveraging blockchain components such as Intel SGX and Hyperledger Sawtooth and Primechain’s expertise to build blockchains, we can realize emerging fintech services such as P2P lending, crowdfunding and digital marketplaces that enables financial inclusion."

The consortium’s first completed project, revealed in June, saw a working group of major Indian banks develop a blockchain to share customer data. Dubbed ‘Clear Chain’, participating banks will be able to share KYC, ALM and CFT now Your Customer, Anti Money Laundering and Countering the Financing of Terrorism) details.




Source: https://www.cryptocoinsnews.com/indias-largest-bank-goes-big-blockchain/

I don't think is such a good idea to be spending bitcoins anyhow. If you look at the way how value of bitcoin is growing, it's better to save your bitcoins than spend it. In this year alone 2017 bitcoin has gained over 800% increase in value. Imagine if you can save your bitcoins for like the five to ten years, what would the value of bitcoin be in the next five to ten years? If you can manage to save your bitcoins than spending for the next few years then that would be the biggest investment of your life. 

The guy was talking about the currency not stock market.
When people are talking about bitcoin, they are talking about bitcoin in form of currency not asset mostly.
In terms of global currency - bitcoin is definitely number one because it's worth over $6,000 and no currency in the history of the world ever reach that.  

No doubt, bitcoin users are now using it in form of global currency where use their bitcoins to buy and sell any product all over the world.
Bitcoin is digital currency that is fast, secure, decentralized and acceptable worldwide. Bitcoin has no borders, boundaries and regulations whatsoever.
And that is what makes it the global currency.

I'm definitely going for bitcoin because the value of bitcoin is growing very fast, faster than gold value and all of the stock market, indeed!
Bitcoin value is increasing very fast more than anything we ever seen in our lifetime, with that speed why do we even talk about gold or anything like it?
I believe bitcoin is more valuable than gold and we are yet to see the true potential of bitcoin because more people are coming into bitcoin every single day. 

The answer to this is simple. people are holding bitcoin because the more you hold your bitcoins the more profitable it will be.
When you buy bitcoins and save them for long time the value will double or triple itself over certain period of time.