Published: Wed, December 06, 2017
Money | By Armando Alvarado

Bitcoin up $12000 as futures move closer to reality

Bitcoin up $12000 as futures move closer to reality

This represents an increase of more than 1,200% in 2017 alone.

In August 2017, Bitcoin split into two hard forks - Bitcoin and Bitcoin Cash. In comparison, gold is worth an impressive $1.5 trillion.

In a volatile world, volatility is king and Bitcoin has it.

How many bitcoins are there?

Until a market correction occurs, however, the Bitcoin bubble is rolling along in an odd fashion to the quantitatively driven stock market itself: until proven otherwise, the market is headed higher. Meanwhile, the global money supply is estimated to be almost $70 trillion. As digital money suggest anonymity and privacy, it is quite easy to use them for criminal purposes.

Dr. Garrick Hileman: We have seen a massive uptick in use and growth over the past few months, we went from roughly three to six million active cryptocurrency users back in April, to what some estimate now to be as many as 40 million.

A key point or bump in the road for the Bitcoin exchanges might be found in the market making methodology.

The threat of bitcoins being hacked or stolen would need to be virtually eliminated.

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Well, this is done to allow more transactions to be conducted via the Bitcoin blockchain. In other words, bitcoin transactions could not efficiently be processed if usage soars.

However, we saw the price sell off on Monday, on the initial announcement of the United Kingdom regulations, a while back we saw the price sell off even more significantly when China announced its ban on exchanges and ICO's.

Bitcoin posted a record high against the dollar on Tuesday morning, hitting $11,829 a coin at about 8 a.m. GMT (3 a.m. ET), according to Markets Insider data. The bitcoin funds can then be transferred across borders to criminal associates who can withdraw them in any currency.

Throughout the year, Bitcoin had generally steadily risen in value, creating a chart pattern that would be a trend follower's dream: steady uptrend without downside deviation that would cause risk management stops to be executed. As I mentioned earlier, bitcoin is not widely used by consumers yet, which is where a currency would derive its economic value.

The race to get bitcoin futures is now on. (OTC PINK:VMNT), a technology-driven holding company, today announced that it has made an investment in cryptocurrency cloud mining starting with a lifetime Bitcoin contract to generate additional revenue and valuation in this new asset class. By now, it should be absolutely apparent that the driving force behind bitcoin's current gains is not arbitrary, but instead, a result of market demand and an artificial limit on availability.

The bottom line is that it's important not to confuse investing with speculating, and bitcoin is definitely a speculative purchase right now.

The bitcoin's supply is limited to 21 million, which experts believe will be reached around the year 2140.

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