Cryptocurrency Market Report - November 23, 2017
The crypto markets are green across the board. Bitcoin Cash (BCH) is up over 20% and Ethereum is breaking out to new highs above $420. Dash and Monero are also making new highs on heavy buying volume.
Latest News Headlines
US Defense Bill Could Give Big Boost to Blockchain
An obscure provision tucked into a defense spending bill could serve as a springboard for blockchain adoption across U.S. government agencies.
Part of a larger bill called the National Defense Authorization Act (NDAA), the Modernizing Government Technology Act (MGT) will allow the public sector to redirect cost savings (which normally must be returned to the Treasury Department) into internal working capital funds that can be used to upgrade their IT systems.
Black Friday Boost For Hobby Miners
As the world gears up for 24 hours of Black Friday madness, hobby miners would do well to take advantage of specials on the top GPUs on the market.
2017 has been a whirlwind year not only for cryptocurrencies but chipmakers like Nvidia and AMD.
Predictions Roll in as Tom Lee Sets 40% Bitcoin Growth by Mid-2018
Tom Lee, Wall Street Strategist at Fundstrat, has recently urged his clients to jump back onto the Bitcoin Bull and ride it to a predicted $11,500 by the middle of next year. This comes after turning back from their short-term neutral approach this week.
Bitcoin Cash surges this Thursday as bitcoin slips past $ 8,000 earlier this week.
On Bitfinex stock exchange based in the United States, Bitcoin Cash jumped 21.58% to $ 1,577.00 at 05:46 AM ET (10:46 AM GMT).
Prices were boosted after the integration of Bitcoin cash with digital wallet provider Bitwalla and the Bitstamp stock market on Wednesday.
Meanwhile, Bitcoin drops 1.56% to $ 8,097.50 on the US-based Bitfinex exchange. Tuesday, he hit $ 8,380.00 a higher since his creation.
Bitcoin has grown more than 700% this year, with three separate corrections of more than 25%, all of which have given way to subsequent rallies.
The rapid rise of Bitcoin has fueled fears over an asset bubble. Digital currency is still rarely used to buy real goods or services, making it almost a speculative vehicle.
At current prices, bitcoin has a total market capitalization of approximately $ 136 billion.
Recent volatility came from a slight rise in investors who turned to alternative cryptocurrencies, including Bitcoin Cash, which pushed it to record highs.
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