Bitcoin is currently not caring about all the naysayers. The current price of Bitcoin is now topping a $570 USD high per BTC on most exchanges. Just recently the publication the Economist claims Bitcoin’s rise will be “ short-lived ” and inserted the Ethereum token as a replacement. However, the value of the top cryptocurrency within the ecosystem is breaking the mold of what people think. Because the Honey Badger just doesn’t care. Bitcoin Is On The Move Again Despite Opinions of a Short-Lived Rise
Currently, on Bitstamp, the value of BTC jumped once again from the $535 position yesterday back to the $555-570 range breaking heavy resistance. At the time of this writing, the King of cryptocurrencies is still the top dog and the biggest network around. Even when publications like the Economist clamor that Bitcoin is currently being “Etherised.” To them and a few others who barely research what’s going on in the industry but instead touch on hot trending subjects, Ethereum is taking over. However, it will be an extended period of time before this even happens and many want the chatter of competition to end as they are two different species of decentralized networks.
Bitcoin’s volume is quite strong at the moment with $88 million USD traded over a 24 hour time period. Chinese exchanges are trading furiously, and there’s quite a bit of purchasing happening there. But also Japan, Latin America, Sub-Saharan Africa, the U.K. and many others are also buying and selling Bitcoins with feverish displays. And people have enjoyed hearing that Bitcoin usage doubled in certain areas such as Canada in 2015. The price earlier this week was stuck in consolidation, yet a looming breakout was in the waiting as many traders still believe the value is bullish. As the price throughout […]
