Bitcoins Bull Run.

2017: The year of Bitcoin's Bull Run.

2017 has been a great year. A year for the bull run of bitcoin and even now it is amazing how far bitcoin has come this year. This is the third year in a row that bitcoin is the  currency of the year.

January: In its first week, Bitcoin became $1000. That was a shock to many.

The price kept rising all through 2017. Hitting new highs and lows.

March: Bitcoin gained mainstream as New York subway trains started accepting bitcoin as payment this year.

June: IMF urged banks to invest in cryptocurrencies in June this year.
August: Bitcoin hard forked on the first of August and created Bitcoin Cash BCH. The 4th largest cryptocurrency by marketcap today.

This is also the year the word: cryptocurrencies was introduced to the world. The world got to hear about bitcoin in November 28^th this year when bitcoin price hit $10,000 and many were alarmed, wondering?

What is bitcoin? How could it be $10,000.

November: What is bitcoin was the highest search term on google from 29^th November till 20^th of December.

Bitcoin futures was introduced by CBOE in December 10^th and CME by December 18^th respectively.

December: Bitcoin achieved its highest run this year on the 18^th of December when it hit $20,000.

Bitcoin is presently $13,000 at the time of this writing.

Will it be sustained or do we see bitcoin going higher next year?

If you ask me I think 2018 will be the year of the blockchain and the year of Ethereum as a cryptocurrency.

Thank you for being a faithful reader and follower of this blog this year and 

Wishing you a wonderful new year and the best of 2018.

Thank you.

Bitcoin validation ...

Bitcoin Validation: CME Group launches Bitcoin Futures

Chicago Merchantile Exchange launched bitcoin futures today. CME Group is the world's largest futures exchange and it is the second exchange to launch bitcoin futures after CBOE. 

This is as the cryptocurrency has been on a run since the beginning of this year and most importantly since November reaching and breaking price barriers.

This has made the market a wonder and speculators have been wanting to get their hands on the money in the bitcoin sphere but needed a renowned body to be behind it first. The needed what i call: Bitcoin Validation. This happened on the 10^th and 18^th of December respectively when CBOE and CME groups launched bitcoin futures. Now investors can speculate the rise of bitcoin and profit from its increase. This alone has driven the price of bitcoin from $11,000 at the begining of december to $15,000 to $18,000 at the time of writing this post. 

The question on many peoples lips is:

Can these moves be sustained?

Lets hear from Axel Weber: UBS Chairman.

Swiss bank UBS has warned anyone keen to invest in bitcoin that they risk losing their money.

Weber fears that the digital currency’s recent gains are unsustainable, and says investors and speculators should keep away.

Speaking to Swiss newspaper NZZ, he says:

“We as a bank have consciously warned against this product because we do not assess it to be valuable or sustainable.”

Weber argues that financial regulators should now step in, given the surge of interest in bitcoin recently. Otherwise, he fears smaller investors could be wiped out by bitcoin’s volatility.

France’s finance minister, Brune Le Maire, has also waded into the bitcoin debate.

He wants the G20 group of leading advanced economies to debate the whole issue of digital currencies next speing.

Speaking on French news channel LCI, Le Maire says:

“I am going to propose to the next G20 president, Argentina, that at the G20 summit in April we have a discussion all together on the question of bitcoin.” Le Maire told French news channel LCI.

“There is evidently a risk of speculation. We need to consider and examine this and see how with all the other G20 members we can regulate bitcoin.”

The changes in bitcoin recently calls for price regulation but does the cryptocurrency built not to be regulated have a hidden code for regulation.

Regulations definitely require a third party intervention and the blockchain for which bitcoin was created has none. We would have to wait it out to see what the world financial system would do to stop the rise in bitcoin price as it seems they won't be relegated to the walls of history without a fight.

Bitcoin Price rise | Bitcoin skyrise trend continues...

Bitcoin Price Rises again | Just clocked $15,000

Bitcoin price is rising fast and beating all expectations and criticisms.

This is the best year so far for bitcoin as it speeds past $10,000, $11,000. $12,000, $13,000, $14,000 and now at $15,000 all in just one week.

This for some people is a surprise but for those that have been watching the trend and seeing its rise. It isn’t a surprise that the price is up to $15,000 but for everyone its timing is the surprise. I told a friend it would get to $15,000 by June next year. I never thought it would happen in this year considering bitcoin became $1,000 at the first week of January.

Bitcoin price has been on the rise due to so many factors. For which I had covered in my last post.

FOMO causing Bitcoin price rise

A lot of what we are seeing now is the fear of missing out- FOMO- playing out.

As the demand increases, the price for bitcoin goes up. Most of these increases are initiated from the Korean market and they seem to be on the verge of buying up every bitcoin they can find and with that comes the price increase.

If you have been following the trend. You would have to be careful with price increases as it moves up and at some point it would fall and there would be a rebound to higher heights.

Bitcoin Futures causing Bitcoin price rise

A large reason for bitcoin price rising this December has been due to announcements by CME group to go into bitcoin futures on the 18th of December . Other investment houses are all coming out with bitcoin futures and for the first time since its use from 2009. It is now being formally recognized as an investment instrument and there is lots of money to be made from investing in bitcoin.

Bitcoin is something everyone has to take seriously now

It has shocked and surprised all investors and critics alike.

It is the largest and biggest store of value now.

It is now been used in all over Asia, Europe, Australia, the US, and  some parts of Africa.

According to CNBC:  The digital currency's gains accelerated after crossing the psychologically key level on Tuesday night. Bitcoin now has a market value of more than $230 billion, meaning it would rank among the 20 largest stocks in the S&P 500.

So if you have been thinking, this is just a hoax….think again.