Bitcoin the New Wall Street?
In the past few years, many people speculated that digital currency will be taking over the Foreign Exchange market. This has come to fruition and it is now being disclosed that the cryptocurrency market is a match for the New York Stock Exchange. A business day in the stock exchange generates an average volume of about $41 billion dollars. The digital currency market has generated the same amount of volume and is frequently surpassing $30 billion dollars. It is very possible that the cryptocurrency market will beat its own record and set out to reach outrageous turnovers.
South Korea Calls For Urgent Meeting on Crypto
The South Korean Government had an urgent meeting to speak on cryptocurrencies and the exchange market. The government and central bank plan to create regulations and compliances for cryptocurrencies as they are high in demand. South Korean central bank official stated that there is an urgency to regulate this and it will go into effect very soon.
CBOE Launches Bitcoin Futures
Merely three hours after the Chicago Board Options Exchange (CBOE) started their bitcoin futures trading, their platform was inaccessible. The volume of people on the website and the demand was too high for the trading platform to be functional. Bitcoin processed around $400,000 of trades in only half an hour!
Goldman Sachs Aboard the Bitcoin Train
The world's second-largest investment bank, Goldman Sachs, will now be exchanging bitcoin futures with their clients. Bitcoin futures will be treated on a case-by-case basis for each client. In order to maintain regulations and compliance, the bank will be assessing the stipulations and risks of bitcoin futures.
Hackers Steal $78 Million Worth of Bitcoin
Hackers were able to hack into NiceHash, a mining exchange, and drain out approximately $78 million dollars worth of Bitcoin. The NiceHash marketplace went into maintenance mode for a few hours which resulted in them going offline. Astute members knew that this was because of a breach of their systems.
Bitcoin Reaches New All-Time High
On Friday, 12/8/2017, Bitcoin has reached a staggering high of $19,000. Bitcoin continues to rise and does not show any signs of declination in the near future. Additionally, Bitcoin also has hit the quarter trillion market cap.
CME Financial Group
CME Financial Group is the world's largest options exchange. The group will be investing $51 billion dollars on index trading for Bitcoin. They are looking to complete the integration of their bitcoin exchange and be open for trading by December 18th.
Bitcoin is on its way to what may be its biggest hard fork yet! Planned for November 16, Segwit2x will change bitcoin’s components. Rules will be created, adjusted, and revised to make them valid. This fork will also add to the size of the block in the blockchain, taking it from 1MB to 2MB. Like the forks that have already occurred, Segwit2x offers us an addition to the block size, a hard fork, and manipulations to the software.
Bitcoin made it’s entrance into the market
Bitcoin made it's entrance into the market in January of 2009. Satoshi Nakamato who chooses to keep his identity anonymous, became the first miner of Bitcoin. Nakamoto mined almost a million bitcoins before he left the market and passed his legacy on to developer Gavin Andersen.