Bitcoin News Today and the Bitcoin price is extremely bullish! Hitting highs of more than $4200 on some Far East Exchanges – This bull run has been fueled by high demand by the Japanese YEN Market (46%) followed by the USD (23%) and the South Korean Won (13%).
When Japan made Bitcoin legal tender in their country on 1 April 2017, it energized the market and adoption by Consumers, Merchants, Investors as well as Institutional Investors is gaining more momentum. Japan has started a domino effect around the world as more countries embrace Bitcoin, Blockchain and the Digital Economy.
Not only is Bitcoin reaching a new high, so are some Altcoins. The Total Listed Market Cap for Cryptocurrencies (of which there are over 850) is now $136,208,311,136 with a 24h Vol: $5,692,124,581 – source: coinmarketcap.com. Interesting to note that the traded volume rise in altcoins was around April 2017, coinciding with the new Bitcoin Law in Japan. What will happen when more countries follow in Japan’s footsteps – hold onto your hats!
Other news headlines:-
Solving the liquidity problem of decentralized exchanges – Centralized exchanges are well supported as most people still have the “banking mentality” where someone else looks after your money.
Decentralized trading platforms greater security and transparency as they do not rely on third-party services to hold customer funds. They off an automated peer to peer transaction process.
Ethereum has a scaling problem right now – The Ethereum cannot support many users as the network is short on capacity. Rising Smart Contract fees are also rising and this all could have an impact on new ICO launches.
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