Day: September 1, 2017

Overstock.com is a true believer in Bitcoin in retail and as such has devised a strategy to handle its volatility.

With Bitcoin topping over $4,700 for the first time, the usual furor about bubbles has been given another puff.

No one can deny the Bitcoin price is going through yet another massive uptrend right now. Although this kind of momentum has been going for several days now,m we have reached yet another new all-time high. Earlier today, the Bitcoin price smashes through the $4,800 mark, although it has retraced ever so slightly since that time. Right now, one Bitcoin is valued at $4,782, which is still more than fair. All of this growth is quite unprecedented and may eventually push the price to $5,000 later this month.

That Bitcoin Price Momentum is Unprecedented

Everyone who still thinks Bitcoin will go away anytime soon will be sorely disappointed when looking at the Bitcoin price right now. More specifically, the Bitcoin price is well underway to reach the $5,000 mark sooner rather than later. A lot of people assumed that price point would not be reached before 2019 but things have certainly headed in the right direction as of late. Although this current Bitcoin price momentum has all of the signs of an impending correction, one has to ride the waves as they come.

Seeing the Bitcoin price surpass $4,800 earlier today is a major milestone, to say the least. Many people like to forget we have had a major Bitcoin price correction earlier this year which pushed the value down to well below $2,000. Interestingly enough, that almost seems like it happened years ago, even though this dip was visible right before the summer. Ever since that time, the only way has been up for Bitcoin and it seems there is no slowing down anytime soon.Everything that goes up sharply must eventually come down, though.

With over $2bn in 24-hour trading volume, the Bitcoin price is heading toward $5,000 quite quickly. Whether or not we will reach that price point before Sunday evening, remains to be determined. There’s no reason to get ahead of ourselves either in this regard, even though the “fear of missing out” has certainly set in for a lot of people. Convincing people to buy Bitcoin at this price point will not be all that easy, though, albeit anyone can see there is still a lot more price potential on the horizon.

It appears the fiat currency markets are in full control of the Bitcoin price right now, with two big exceptions. More specifically, the top 10 markets all include fiat currencies except for the LTC/BTC and XRP/BTC pairs on the Poloniex exchange. All of the other markets are related to the US Dollar, Chinese Yuan, Japanese Yen, and Korean Won. Once again, no Euro market in sight, although it comes in at the #15 spot. Interestingly enough, the Bitcoin price is trading well above 4,000 euros right now, which indicates yet another big milestone for the world’s leading cryptocurrency.

With the Bitcoin price momentum in full effect, no one knows where this will end or when it will do so. Not that anyone legitimately wants it to end anytime soon, though, as the Bitcoin price is destined for bigger and better things in the future. Its scarcity and global availability make it one of the hottest commodities in the entire world. Now that regulators are seemingly warming up to cryptocurrency as well, things can only get better from here on out. All it takes is one piece of negative news to send the price plummeting down, though.

Heading into the weekend, it is a bit unclear what we can expect. Weekends are notorious for that lack of exciting trading, but the past few weeks have proven us wrong a few times already. It is certainly possible we will see more of the same momentum this week, especially if the $2bn daily volume keeps up. So far, that doesn’t appear to be a problem whatsoever, as this Bitcoin growth has been unprecedented. Come Monday, we may look at a Bitcoin price of $5,000 or more. Things can easily head in the other direction as well, though.

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The post Six Major Global Banks Partner up to Bring Utility Settlement Coin to Life appeared first on NEWSBTC.

Friday is here already and it is time to get things set up for another day of trading in the bitcoin price. The buzzword of the week bullishness. Price has continued to appreciate throughout the majority the week so far, only really settling down to correct now and again and passed through a small consolidation … Continue reading Bitcoin Price Watch; Here’s What’s On At The End Of The Week

The post Bitcoin Price Watch; Here’s What’s On At The End Of The Week appeared first on NEWSBTC.

A U.S. federal agency has awarded a $100,000 grant to a research group in Arizona looking to apply blockchain to public library systems.

Four bitcoin Visa debit cards are suspending service to non-European residents due to Visa’s new licensing restrictions. BTCC and Bitwala have joined Xapo and Shakepay to stop debit card service to users who reside outside of the Visa European payment network.

Also read: Moscow Stock Exchange Prepares to Trade Cryptocurrency

Service Halted for Non-European Residents

China-based bitcoin exchange BTCC announced on Thursday that its Mobi app will stop offering Visa debit card service to non-European residents “because of new licensing restrictions from Visa.” The change only affects Visa card usage, however. Emphasizing that other Mobi’s features remain available, the company noted:

Non-European residents who already have Mobi Visa cards will not be able to use Mobi Visa cards after 11:59 PM (UTC) on October 15th, 2017.

Germany-based Bitwala announced a similar suspension on Wednesday. Canada-based Shakepay made the same move on Monday. “Our partner bank is being nudged by Visa to immediately stop issuing cards to residents living outside of the European Territory,” the company wrote, adding that most of the Shakepay team fall into that category.

Xapo was the first of the four companies to announce its Visa debit card service suspension. On August 22, the company stopped selling its debit cards to new customers outside the European territory.

New Visa Rules; ID Verification Required

The new Visa rules went into effect on August 21, Bitwala detailed, adding that:

Bitwala cards have always utilised the Visa network to provide users with global and uninterrupted coverage. According to their new regulations, only customers in the EEA and selected adjacent states will be able to order the Bitwala Debit Card.

Non-European residents, including European citizens who are not currently living in Europe, can no longer order new Visa cards from the four companies. For Bitwala cards, users who successfully ordered them on August 9 onward have been refunded, the company revealed.

Customers living in the European territory can continue using their cards “by uploading a proof of domicile in one of the supported countries,” Bitwala described. BTCC explained that the ID verification process includes “providing scans of their ID and address-verification documents.”

BTCC has listed the countries unaffected by the change. They are: Andorra, Austria, Bailiwick of Guernsey, Bailiwick of Jersey, Belgium, Bulgaria, Canary Islands, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Gibraltar, Greece, Greenland, Hungary, Iceland, Ireland, Isle of Man, Israel, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Monaco, Netherlands, Norway, Poland, Portugal, Romania, San Marino, Slovakia, Slovenia, Spain, Sweden, Switzerland, Turkey, and the United Kingdom.

What do you think of the new Visa rules banning non-European residents from using its network? Let us know in the comments section below.

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The post Bitcoin Debit Cards Halt Service to Non-European Residents Due to Visa’s New Rules appeared first on Bitcoin News.

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