NEW YORK, August 23, 2017 /PRNewswire/ --
Bitcoin price seem to stabilizing around the $4,000 mark and according to Mike Kayamori, CEO of Japan-based bitcoin exchange Quoine, saw the dip below $4,000 on Tuesday as a sign of consolidation, Coindesk reported. Overall, the price of Bitcoin increased about 350 percent this year. The massive rally of the cryptocurrency was a direct result of the recent split in Bitcoin, and spinoff Bitcoin Cash or 'Bcash'. "Naturally some of the prices and exuberance seen in the price are causing traders to take profits," said Charles Hayter, Chief Executive and founder of CryptoCompare. "With SegWit implementation it has perhaps been a question of buy the rumor sell the news," said Hayter, according to MarketWatch. Chineseinvestors.com, Inc. (OTC: CIIX), Singlepoint, Inc. (OTC: SING), First Bitcoin Capital (OTC: BITCF), Bitcoin Investment Trust (OTC: GBTC), Bitcoin Services, Inc. (OTC: BTSC)
The division in Bitcoin was regarding an upgrade to its underlying technology. The majority of the bitcoin ecosystem supports a solution called SegWit2x, while others support a different scaling mechanism called Bitcoin Cash, which has split into a different blockchain, called the 'Bcash'. "After the split, investors holding Bitcoin were also given Bitcoin Cash. Initially, the market cap of Bitcoin Cash rose to $12 billion, but we've since seen a lot of people selling their Bitcoin Cash in order to buy more Bitcoin," said Matthew Newton, a market analyst at online trading platform eToro, according to Fortune. "In recent days, we've seen $8 billion wiped off the market cap of Bitcoin Cash, and $9 billion added to the market cap of Bitcoin."
Chineseinvestors.com, Inc. (OTCQB: CIIX) on August 14th announced, "the launch of its cryptocurrency education and trading subscription service on Chinesefn.com, the Company's dynamic financial website that provides real-time market commentary, analysis, and educational related services to Chinese-speaking investors. The new subscription service will cover timely news and will provide analysis regarding all aspects of the emerging digital currency world, including coverage of cryptocurrencies including bitcoin and ethereum, industry trends, price movement, sector related stocks and ETFs, etc.
Cryptocurrency has attracted a lot of attention in recent years from the creation of bitcoin, the world's first decentralized digital currency to blockchain technology, which allows cryptocurrency to transfer value across the globe without resorting to traditional intermediaries such as banks. The ability to transfer value solely through software is a huge breakthrough. The cryptocurrency market has also created new phenomena such as currency mining, trading, tender, and storage. At the same time, it has significantly impacted industries such as cybersecurity, cloud computing and storage, and semiconductors."
"Cryptocurrencies like bitcoin have become a global phenomenon," says Warren Wang, Founder and CEO of CIIX. "Since January 2015, the price of Bitcoin has increased 500% from $200 to $1,000 in January 2017, and just spiked to a record high over $4,000 as US-North Korea tensions escalated. Likewise, ethereum has surged from less than $10 to more than $300 this year. With the use and trading of cryptocurrencies on the rise in Asia, it appears that a much wider adoption of digital assets may be right around the corner. With an estimated 85% market share, China is one of the dominant players controlling bitcoin volume, along with Japan (which recently legalized bitcoin as a form of payment) and the United States. While many see the unique opportunity that cryptocurrency poses for investors and desire to capitalize on this market opportunity, they may not have a full understanding of the concept of digital currency or how the system works. CIIX intends to provide fundamental knowledge to Chinese speaking newcomers to cryptocurrency, including straightforward explanations of the basics of cryptocurrency, how to buy it and straightforward trading guidelines. For those with cryptocurrency experience, the Company will provide more detailed information regarding currency mining, blockchain technology, stock trends and ETFs. Through its innovative cryptocurrency education and trading subscription service, the Company endeavors to be the leading Chinese educational site providing up to date news and information on digital currencies."
Singlepoint, Inc. (OTC: SING) on August 8th announced the purchase of $Weed which is one of the newest fiat currencies floated in the booming Cryptocurrency markets. The large block purchase is from crypto industry leader, First Bitcoin Capital. "SinglePoint and First Bitcoin Capital plan to invest heavily in getting the consumers to sign up first, making sure they have the ability to quickly go in and make a purchase from a dispensary, painlessly. The consumer approach also lets the companies build in multiple programs such as loyalty, special offers, and the ability to track what kinds of products people are buying which leads to a massive database of what is popular, how much it is being sold for on average and many more insights to the cannabis industry," SinglePoint reported.
First Bitcoin Capital (OTC: BITCF) is engaged in developing digital currencies, proprietary Blockchain technologies, and the digital currency exchange - http://www.CoinQX.com . On August 17th the company announced that its second quarter net earnings exceeded projections coming it at $378,708.49. These earnings derive from some of the digital currencies earned during the period, including Tether (USDT) and Altcoin (ALT).
Bitcoin Investment Trust (OTCQX: GBTC) is a wholly-owned subsidiary of Digital Currency Group, Inc., which builds and supports bitcoin and blockchain companies by leveraging its insights, network, and access to capital. Earlier in the year the company announced that it has filed a registration statement on Form S-1 relating to the proposed registration of the Bitcoin Investment Trust's shares with the Securities and Exchange Commission. The investment objective of the Bitcoin Investment Trust is for the registered Shares to reflect the performance of the value of a bitcoin, before liabilities and expenses of the Trust, as represented by the TradeBlock XBX Index.
Bitcoin Services, Inc. (OTC: BTSC) reported recently that it has launched a new corporate website http://www.bitcoinservicescorp.com. The company is also announced that their earnings on August 14, 2017. Bitcoin Services Inc began the mining of Dash in the 1st quarter of 2017. Dash is Digital Cash You Can Spend Anywhere, and is designed to make instant, private payments online or in-store using our secure open-source platform hosted by thousands of users around the world. In addition, Bitcoin Services has created a new subsidiary Crypto Capital Corp that will develop a new Crypto currency wallet. The wallet will let users safely store multiple digital currencies in one wallet.
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