Bitcoin Market Cap Above $12 Billion as Price Climbs Back to $750

Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term is once again providing great opportunities for traders and investors with great Volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, or stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Trad In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, or stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Trad Read this Term on a long term rising trend. The BTC/USD exchange rate now edges closer to $750 after falling to the $700 level just a number of days ago. It thus completed a rise of a $100 in price in less than a month.

Looking deeper at the numbers, we can see that the BTC/USD exchange rate jumped by 5% in just the last 24 hours on the back of huge trading volumes. Transactions worth over $165 million took place during this time in USD trading alone while RMB volumes are normally 900% bigger.

In total, the overall valuation of all bitcoin in circulation is now back above $12 billion - a benchmark market cap not seen for a while.

An obvious reason for the very recent jump in price is not immediately available. In online bitcoin trading forums speculations mainly include rumours of massive buy-ins by wealthy Chinese trying to hedge against the intentional devaluation of the yuan (RMB) or a possible post-Trump protectionist trade war.

Looking farther for a reason for investors to turn to bitcoin we would still remain in Asia as India is undergoing a massive economic experiment as the moment. Last week the Indian Prime Minister Narendra Modi announced without prior warning that high-denomination rupee notes are to be taken out of circulation. The government thus wiped out about 80% of cash in an attempt at a cure for corruption and “the disease of black money”, as unreported income is referred to in India.