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Bitcoin Price: Surges More than 20% in 30 days, Is it Real or Fake?

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Bitcoin has surged more than 20% in the last one month and is still moving forward the current week despite the fact that there has not been any good news.

Bitcoin has surged more than 20% in the last one month and is still moving forward the current week despite the fact that there has not been any good news in terms of adoption, regulation or anything else such as the launch of Bakkt exchange, rather, there have been serious issues revolving around the cryptocurrency industry lately, such as the binance hack.

 

Bitcoin crosses $6300 mark:

Bitcoin recorded a new yearly high yesterday when it traded up to around $6335. Bitcoin started the year with a price of under $4000 and even stayed at the $3400 level for quite some time at the start of the year. Not only in terms of price but also in terms of market dominance, bitcoin has grown exponentially in the last few weeks which now stands at around 60% (highest in the last 6 months).

BTCUSD Price Chart

BTC/USD Price Chart

Bitcoin price has gained more than 7% in only the last three days breaking over the $6000 resistance level despite the fact that around 7000 bitcoin worth around $40 million being stolen from the top bitcoin and cryptocurrency exchange in the world (according to trading volumes), Binance. The CEO of the exchange also recommended the rolling back of bitcoin blockchain to recover the stolen funds, however, none of the bitcoin miners came out to support this. This was also a shocking moment for most bitcoin enthusiasts who could never believe that something like a Roll Back could actually occur on the bitcoin blockchain. However, despite these things, bitcoin still continues to rise without any solid reason to back the sudden surge.

 

Facebook Removes Bitcoin Ban:

A little piece of good news for the bitcoin community was that Facebook, the social media giant had announced that it is going to remove the ban on bitcoin, cryptocurrency and blockchain advertisements which it had earlier implemented. However, most of the people believe that this is due to Facebook’s upcoming WhatsApp cryptocurrency. However, such a small piece of news could possibly not be the reason behind the sudden market rise.

 

Some cryptocurrency analysts are predicting that bitcoin price might crash hard downwards after testing the $6500 resistance level. Currently, bitcoin is trading in a short-range below the $6300 resistance level which is proving to be a strong hurdle for the price to rise further.

 

What are your thoughts on the sudden bitcoin price surge? Let us know in the comments section below.

#Bitcoin

Alert: GotSatoshi Reveals the Real Identity of Satoshi Nakamoto?

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A new website called GotSatoshi now claims to know the real identity of the founder bitcoin Satoshi Nakamoto.Here is what they revelead.

The identity of Satoshi Nakamoto is one of the biggest secrets in the world, especially in the cryptocurrency industry. A lot of people have speculated the real identity of the bitcoin founder and some people such as Craig Wright has even self-proclaimed themselves to be Satoshi Nakamoto. A new website called GotSatoshi now claims to know the real identity of the founder bitcoin Satoshi Nakamoto.

 

Where in the world is Satoshi: The Countdown ends

The website ran a countdown and also posted on their official twitter account claiming to know the real identity of the founder of bitcoin.

 

The countdown which ended just a few minutes back (from the time of publication) revealed a video which is actually marketing a news website called PaiNews. It seems that it was just another joke or a method of fooling and attracting traffic to the website.

 

What are your thoughts on such lame jokes or methods of attracting traffic? Tell us in the comments section below.

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Kevin O’Leary from Shark Tank calls Bitcoin: Garbage and a Useless Currency

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During an interview with the CNBC, Kevin O'Leary from Shark Tank said that according to him Bitcoin is garbage and a useless currency.

During an interview with the CNBC, Kevin O’Leary from Shark Tank said that according to him Bitcoin is garbage and a useless currency.

 

Kevin O’Leary calls Bitcoin Worthless

Famous as the founder of Softkey, a startup that earns annual revenue of around $29 million and a host on the American business reality series Shark Tank, Kevin O’Leary is a celebrity amongst the business class in the United States of America.

 

During the interview published on 14th May 2019, Kevin expressed his thoughts over the king of cryptocurrencies bitcoin and called it a useless currency as the people who accept it just wants to hedge against the high volatility of the virtual currency. This comes in the midst of the current bitcoin surge as the virtual currency doubled its value in just a few days from below $4000 to more than $8000.

 

Kevin also explained why he has such negative views on bitcoin giving the instance of how once he tried using bitcoin for a real estate transaction in Switzerland. He said that it is not possible to get in and out of bitcoin while transacting in huge amounts.

 

He also gave an example stating that if one wants to buy real estate in Switzerland for $10 million. The seller wants a guarantee that the value comes back to him as currency at ten and the buyer has to hedge the risk of the cryptocurrency, hence it is not a real currency. Kevin said that the seller or the receiver would never want to take the risk of such high volatility and thus BTC is worthless.

 

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Amazon Owned Whole Foods, Other Big Retailers Start Accepting Bitcoin

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Whole Foods, which is owned and operated by the e-commerce giant Amazon and other big retailers are now going to accept payments in bitcoin.

Whole Foods, which is owned and operated by the e-commerce giant Amazon and other big retailers are now going to accept payments in bitcoin.

 

Whole Foods and Others accepting Bitcoin using Spedn:

A company called Flexa in collaboration with Gemini exchange which is owned by the Winklevoss Twins has managed to persuade a lot of big retailers including Nordstrom, Crate and Barrel & Whole Foods to configure the same scanners that they are already using for payments from other digital wallets like Apple Pay to work with their cryptocurrency payments app called Spedn.

 


Everything is handled on the backend of the application so that the cashier need not even have heard of bitcoin, let alone understand how to manage payment in cryptocurrency. The merchant has the choice in receiving immediately converted fiat or actually taking and holding the cryptocurrency.

 

The Spedn app lets consumers pay in bitcoin, bitcoin cash, ethereum and GUSD (Gemini Dollar), the Gemini backed stablecoin.

 

This new solution actually uses the existing systems and offers really only upsides for the companies as they don’t have to do any special training for their staff and there is no new hardware required and just a software upgrade.

 

It is worth noting that this is still in its early experimental stages for all the retailers which are cooperating with this scheme and things may of course change in the future. The thing to keep in mind here is that Bakkt is likely launching a massive payment processing service for cryptocurrency in the very near future as well and it could be a big competitor to what Gemini and Flexa are offering.

 

The company will also need to prove itself with consumers and get people to actually go out, download and use the Spedn app.

 

Can this be a game changer in retailer adoption of bitcoin and cryptocurrencies? Let us know about your thoughts in the comments section below.

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