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Bitcoin Hits New All Time High as CME Group Announces Futures Trading

Bitcoin has hit new all-time price highs on its ninth birthday today as CME Group announces futures trading.

Investors still celebrating the weekend’s record-breaking $6,300 have little to fear this Halloween as renewed momentum coming from CME takes Bitcoin within reach of new heights.

Bitcoin Hits New All Time High

The move appeared broadly expected Tuesday even without the news, analyst Tone Vays and investor Max Keiser both predicting imminent peaks.

According to data from Bitcointicker, Bitcoin advanced 2.1 percent in the 24 hours to press time to hit $6,300.

The latest surge, which began late last week, initially pulled major altcoins along with Bitcoin, but the trend has since faltered.

Bitcoin Cash, in particular, has reversed the top of its gains which saw the fork hit multi-week highs approaching $500.

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Bitcoin Related Jobs Booming Along With Bitcoin

International employment marketplace Freelancer has noted that Bitcoin-related jobs are the highest growers, hitting 82 percent growth in the third quarter alone.

Work relating to Bitcoin, Blockchain, and other related markets is skyrocketing as the cryptocurrency currency heads towards the mainstream, pulling in more and more to feed the ecosystem.

The company’s periodic report tracks top trends in online jobs based on the listings on its Freelancer.com platform.

ICO boom

Freelancer notes that a lot of the growth is coming from companies that are looking for freelancers to design new coins, essentially helping them launch ICOs.

“People are getting freelancers to design new types of cryptocurrencies,” Matt Barrie, CEO of Freelancer, said.

One of the main skills for which companies are looking is the ability to manage an ICO. ICOs have been seen to be highly lucrative, and many are popping up all over the place. However, recent regulations have slowed down the frenzy.

It is not only the developers and designers of these new coins that are in such high demand for new ICOs according to Freelancer. Employers are looking for people to create new cryptocurrencies but also to write proposal plans for technologies employing Blockchain.

Cryptography

The related field of cryptography saw the number of job listings rise 59 percent in the third quarter, according to Freelancer. Cryptography is essentially the underlying theory upon which the Blockchain and by extension Bitcoin is based.

It is not only useful in cryptocurrency, but it is also a skill that has played a significant role in Internet security and privacy.

Job quality

Not only is their a higher demand for crypto-workers, but the jobs on offer are also decidedly better than most in a similar field.

A report done in September found cryptocurrency jobs pay, on average, 10 to 20 percent more than the industry norm. Further, they offer better benefits.

Second, cryptocurrency companies have far more <Continue Reading>

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Cryptocurrency Hedge Fund Cofounder Matthew Goetz Compares Bitcoin to the Internet in the 1990s

Digital currency hedge fund BlockTower Capital cofounder Matthew Goetz claimed that Bitcoin and other cryptocurrencies are like the Internet in the 1990s. He said that bets during the early days of the Internet were risky just like the investments in the digital currency market as of October 2017.

Cryptocurrency Hedge Fund Cofounder Matthew Goetz Compares Bitcoin to the Internet in the 1990s

According to Goetz, the claims that the virtual currencies are one of the disruptive technologies of today are correct. He also compared the cryptocurrencies to the Internet in the 1990s.

“You could be right on the thesis that cryptocurrencies are transformative and you could make what you think is the right bet at the time, but remember one time you had Yahoo and then this thing called Google came along.”

Goetz’s other comments and predictions

The digital currency market worldwide has registered a meteoric rise in 2017, with more than 1,000 cryptocurrencies already in circulation. Bitcoin, the leading virtual currency, posted a significant price increase as it rose by over 450 percent to almost $4,400 per token.

Goetz, however, argued that Bitcoin will not remain as the top-dog digital currency forever despite its phenomenal rise. He added that Bitcoin and the other virtual currencies can be toppled by a cryptocurrency with superior technology.

“Bitcoin is the most entrenched, it has very stable protocol, it doesn’t change a lot, and it has a very strong developer base, but at the end of the day, it is still software. There is some chance that something an order of magnitude better than Bitcoin, technologically, could come along.”

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Goetz, however, claimed that in order for a rival cryptocurrency to replace Bitcoin, it should have significantly better capabilities than the crypto top dog. He cited as an example how Facebook has toppled MySpace as the favored social media site. <Continue Reading>

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Bitcoin, Ethereum, Litecoin: Price Analysis September

The views and opinions expressed here are solely those of authors/contributors and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

Bitcoin/USD 07.09.2017

Chinese ICO ban was this week’s hot topic. The news hit the market and it instantly reacted. Bitcoin looked stronger than the rest of the market but was going down as well.

The $4400 support level was easily hit, even though it used to be a key level in August.

Current situation:

  • Since the downfall was caused by the big news, the resistance zones did not work out. As a result, a local $4400 support zone has been formed.

  • Following the news, BTC hit a strong uptrend line. A strong downtrend formation could have started, but the price has recovered really fast. It’s a rather bullish sign.

  • The major news flow is expected later this year in November.

Scenarios:

  • $5000 high test. BTC will probably test high if the rest of the market will show strong growth. For now, no strong triggers that could cause movement.

  • In case of the market being stable, $4400 level can show its strength. During possible slight corrections watch for volumes around the $4400 zone. This level has been rather strong in August, so it’s possible that buyers’ consolidation will happen there.

  • $4000 test. Round levels are traditionally very strong. $4000 level is no exception. If the general market correction happens, then this level will become a key <Read More>