After four weeks with a stable bitcoin price, we now see an outbreak in the price, where it has remained strong at $ 6500-6650 for a month. On October 15, the bitcoin price rocketed, increasing by 22% in a few hours to a price of $ 7800. There has been much speculation and several experts believe it has been a form of catalyst that started the price increase.
Tether, a stablecoin that shields the dollar value, has received the blame by many. Tether has been controversial over a longer period due to its lack of proof of capital in relation to circulating value. This has put Tether under a lot of pressure. On October 15th, Tether took a hard hit in price like it had never done before. From keeping the value of about $ 1 over several years, Tether dropped to a price of $ 0.85, which made many in the market doubt the legitimacy of the stablecoin. It has stabilized to 0.95 in retrospect, and many believe that the reason why bitcoin’s increase was investors who moved their money out of the “safe haven” Tether and into Bitcoin.
Here are some of the current news in the last two weeks, along with good reading material.
Want to read more about the Tether FUD? Read more here!
All the stablecoins wants to be valued $ 1, even if they are not.
The market begins to distinguish between different stablecoins, although these encryption windows are all designed to handle 1-to-1 with fiat. Read more here!
CME: Average daily volume for Bitcoin Futures increased by 41% in Q3
Average daily volumes for Bitcoin Futures Trading saw a significant jump in the third quarter compared to the last period, according to the CME Group. Read more here!
Qtum sare partnering up with Amazon’s Web Services in China
Amazon Web Services’ (AWS) China Division is now collaborating with the public blockchain project Qtum. Read more here!
Coinbase now allows you to buy and sell the Ethereum Token 0x
Hardly a week after adding support for the 0x Protocol Token (ZRX) on its Professional Investor Platform, Encryption Exchange provides Coinbase with full trading for private investors. Read more here!
Several of the top US Universities have invested in cryptocurrency
Investments funds managed by renowned universities like Harvard, MIT and Stanford have all invested in cryptocurrency. Read more about it here!