Ethereum | - Part 2

Bitcoin Guns for $10,000 as Cryptocurrency Mania Defies Skeptics

LAGOS (Capital Markets in Africa) – Bitcoin blew past $9,700 just a week after topping $8,000 and approached its closest ever to five figures, gaining mainstream market attention as it defies bubble warnings. The biggest price jump since August consolidated during Japanese trading hours and vaulted the largest cryptocurrency’s value in circulation above the market caps of all but about 30 of the S&P 500 index members. The increase also buoyed its 10-day volatility to…

Blockchain Gets a Wall Street Win: `We Know the Thing Works Now’

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LAGOS (Capital Markets in Africa) – The prospect of blockchain technology remaking financial services just moved a step closer to reality after banks including Goldman Sachs Group Inc. and JPMorgan Chase & Co. completed a successful six-month test in the $2.8 trillion equity swaps market. The program, managed by blockchain startup Axoni, kept track of the swaps contracts after they were executed, recording things like amendments or termination of the deals, stock splits and dividends, and achieved…

Bitcoin’s White-Knuckle Ride Continues as It Hurtles Past $8,000

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LAGOS (Capital Markets in Africa) – Bitcoin’s relentless and volatile rally shows no sign of abating, with the world’s largest cryptocurrency defying growing bubble fears to hit yet another milestone. Bitcoin rose as much as 6.7 percent to a record $8,224 as of 9:27 a.m. in New York. It’s been a tumultuous year for the virtual currency, with three separate slumps of more than 25 percent all giving way to subsequent rallies. “The inflation in…

UBS Shuns Bitcoin Allocations Due to Threat of Crypto Crackdown

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LAGOS (Capital Markets in Africa) – UBS Group AG, the world’s largest wealth manager, isn’t prepared to make portfolio allocations to bitcoin because of a lack of government oversight, the bank’s chief investment officer said. Bitcoin has also not reached the critical mass to be considered a viable currency to invest in, UBS’s Mark Haefele said in an interview. The total sum of all cryptocurrencies is “not even the size of some of the smaller currencies” that UBS…

Bitcoin’s Rivals Multiply Amid Battle for Crypto Dominance

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LAGOS (Capital Markets in Africa) – It’s getting tougher and tougher to keep track of all the different versions of bitcoin. New iterations of the cryptocurrency are multiplying as disagreements over bitcoin’s design persist and opportunities for making a quick buck prove hard to pass up. The biggest offshoot, called bitcoin cash, appeared in August after a so-called hard fork in the bitcoin blockchain. That spinoff, currently valued at $18 billion, was followed by a less successful…

Bitcoin’s Roller-Coaster Ride Cuts $38 Billion Before Reversal

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LAGOS (Capital Markets in Africa) – Bitcoin is proving that investing in digital currencies isn’t for the faint of heart. After plunging as much as 29 percent from a record high following the cancellation of a technology upgrade on Nov. 8, the largest cryptocurrency came roaring back in early trading Monday before fluctuating between gains and losses. “Crypto trading is not for the novice investor,” said John Spallanzani, chief macro strategist at GFI Securities LLC in New York….

Bitcoin Cash: The Digital Cousin Disrupting Cryptocurrencies

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LAGOS (Capital Markets in Africa) – Just when you thought you had a handle on the new-fangled crypto craze, here comes bitcoin cash. Bitcoin’s lesser-known cousin, the so-called cash version has disrupted the $200 billion market and over the weekend got close to overtaking ethereum as the second-biggest cryptocurrency by market capitalization. The main difference between bitcoin and bitcoin cash is the block size. A block is equivalent to a file storing data on approved transactions, which…

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