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Author Topic: Will this increase the price for bitcoins again?  (Read 116 times)
Maingtoled1958
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January 26, 2018, 11:03:47 AM
Merited by Scor1937 (4)
 #1

          Stock trading mobile app provider Robinhood is planning to enter the crypto-trading bandwagon.

          The company was announced in 2013 as a mean to democratize stock trading. They announced that they will soon enroll in bitcoin and etherum trading with their mobile app.
          It may perhaps attract the attention of several new users who are involved in stock trading but not crypto trading and perhaps bitcoins can again get a good number of investors which will gradually increase the price for bitcoins.

The company explained..
"We view entering crypto as a way to extend our user base and build our brand."

          What do you think? Will it be profitable to us or this news will have no effect on the price?
          Perhaps according to me, the demand for bitcoins and etherum may increase which can rise the price for those cryptos.
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January 26, 2018, 11:13:56 AM
Merited by Maingtoled1958 (1)
 #2

well it is good for bitcoin but it is more good for their "brand" as it is good for bitcoin. they are increasing the number of users they have and obviously will benefit from it, not sure how it works but probably they will be earning more fees through this!

in any case news like this are always helping bitcoin adoption but it will be a slow process. for example Steam accepting bitcoin introduced bitcoin to millions of online gamers but it took a while.

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January 26, 2018, 11:33:26 AM
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My answer is no, this won't affect at all the price of bitcoin, what they maybe will be able to do is to "steal" some customers from other exchanges like coinbase, due to the fact that apparently they're gonna allow trading without charging fees (coinbase charges 1.5-4% fees in the US). The question is, are they gonna keep that no fee thing forever or is just a marketing move to attract people and then they implement fees later on? it's kinda hard to believe that they would just maintain it without profiting from the fees... we'll see...

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January 26, 2018, 11:42:21 AM
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This definitely helps with adoption, but I think the impact on price will be marginal. Sure, they might "steal" some customers from other exchanges, but I am also certain that it will gain attention of stock traders who otherwise didn't care for Bitcoin or cryptocurrencies before. They have approximately 2 million users and with the introduction of Bitcoin markets I'm pretty sure they will attract more, especially due to no-fee trading. Mind that they are only opening the BTC market to 5 states for now though.
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January 26, 2018, 11:51:40 AM
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This will ultimately get significance changes with both BTC , ETH regarding to these prices, but only traders going to had subliminal effect for this action Robinhood made.

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January 26, 2018, 11:54:01 AM
 #6

          Stock trading mobile app provider Robinhood is planning to enter the crypto-trading bandwagon.

          The company was announced in 2013 as a mean to democratize stock trading. They announced that they will soon enroll in bitcoin and etherum trading with their mobile app.
          It may perhaps attract the attention of several new users who are involved in stock trading but not crypto trading and perhaps bitcoins can again get a good number of investors which will gradually increase the price for bitcoins.

The company explained..
"We view entering crypto as a way to extend our user base and build our brand."

          What do you think? Will it be profitable to us or this news will have no effect on the price?
          Perhaps according to me, the demand for bitcoins and etherum may increase which can rise the price for those cryptos.

I don't think Robinhood's app will do anything for the price of bitcoin, but I think bitcoin will rise again soon to over 15k. Lots of fud right now, but it will soon pass.
SummonKing2
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January 26, 2018, 02:02:33 PM
 #7

          Stock trading mobile app provider Robinhood is planning to enter the crypto-trading bandwagon.

          The company was announced in 2013 as a mean to democratize stock trading. They announced that they will soon enroll in bitcoin and etherum trading with their mobile app.
          It may perhaps attract the attention of several new users who are involved in stock trading but not crypto trading and perhaps bitcoins can again get a good number of investors which will gradually increase the price for bitcoins.

The company explained..
"We view entering crypto as a way to extend our user base and build our brand."

          What do you think? Will it be profitable to us or this news will have no effect on the price?
          Perhaps according to me, the demand for bitcoins and etherum may increase which can rise the price for those cryptos.
The price of bitcoin does not remain, ever before the price sometimes rises and sometimes falls but hopefully the bitcoin will rise. Bitcoin will surely rise again and will make new highs. Bitcoin is gaining huge popularity and acceptance worldwide. Various countries are recognizing or considering it to recognize as a legal tender of money.
ALI AKBAR
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March 24, 2018, 07:42:52 PM
 #8

Bitcoin is never fixed price, Sometimes, the price of bitcoin increases at an unexpected rate and sometimes decreases sometimes. But it is expected that the price of bitcoin will increase again. It is thought that it will rise to a new height. Bitcoin will gain popularity worldwide and all the countries of the world will recognize it as validity. Moreover, the rate at which the demand in the world is increasing, the price of bittacquena will increase further.
dear53
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March 24, 2018, 07:48:51 PM
 #9

Bitcoin is a currency.Its price all time not fixed rate.Some times its price going to high and high and some times its price going to very low.Bitcoin is one of the great currency ever i have seen.I think bitcoin price will be increase in a very short time. Cool Cool Cool Cool
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