Massive Founders Fund's purchase boosts bitcoin price

Posted 03 January, 2018

On Wednesday, January 3, bitcoin price has increased on reports about massive investment by Founders Fund, led by Peter Thiel.  

The company has acquired digital coins for some $15-20 million. As a result, this investment is reportedly estimated at hundreds of millions of dollars given the 2017 price leap.  

Thiel commented that this was a quite promising currency that could become a digital gold at long last.

As it was already reported, the BTC price has shown almost a 20-fold upturn since the start of the year. Bitcoin entered the market below $1,000 but then posted an all-time high at $19,891 on Bitfinex on December 17 (other exchange markets recorded the price even above $20,000 that day).  

Yet, bitcoin price fell almost 50% over the past month as compared to the mid-December peak.  

Investors are becoming more interested in alternative cryptocurrencies, so bitcoin is no longer dominating the market.  

BTC capitalization has amounted to $231.7 billion on Tuesday (some 36% of the overall value of cryptocurrencies). This means that the share of bitcoin has hit the bottom in the global market. For reference, bitcoin market footprint was more than 80% in early 2017.

The insiders are said to have a different opinion on the current situation. Specifically, investors believe this is just a natural adjustment after a price jump. At the same time, market regulators and central banks still warn about an inflating crypto bubble.  

Ripple, the second major digital coin, was traded at $2.08 after hitting an all-time high at $2.39 on Poloniex on Saturday.  

After knocking Ethereum ($85 billion) out of the second place in terms of market capitalization, the Ripple has kept expanding on Wednesday and exceeded $105 billion by now.  

Compared to bitcoin and Ethereum (9,000% and 1,400% respectively), the Ripple has hiked more than 32,000% since early 2017, from $0.006 to $1.98.

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04 January, 2018 13:02

← US dollar ups against Japanese yen

US dollar posted an increase in the USD-JPY pair at the Asian session on Thursday. At the same time, AUD improved just slightly staying generally sluggish despite increasing China's services PMI of China released by Caixin, which plays an important role since China is considered as the main trade partner of Australia.

US dollar ups against Japanese yen

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03 January, 2018 16:17

Bitcoin outlawed in Egypt →

Egypt goes back of bitcoin trading. As it was reported, Sheikh Shawki Allam, the Grand Mufti of the country, has issued the ruling (fatwa) that bans digital coin transactions. In particular, he explained that Islam forbids cryptocurrency as it comes with fraud and ignorance...The first bitcoin platform was launched in Egypt in August 2017. Yet, a few month later, in December, the digital coin was put to the horn.

Bitcoin outlawed in Egypt
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