Bitcoin Cash is up 23% amid the cryptocurrency "bloodbath"

Bitcoin BTC token

Bitcoin BTC token

Bitcoin (BTC) had a good 24 hours as the cryptocurrency jumped $500.70 or 6.68% trading at $7996.69. According to International Crypto Analysts, Bitcoin (BTC) eyes $8796.36 target on the road to $17240.35. Ripple has a total market cap of $36.02 billion and approximately $1.71 billion worth of Ripple was traded on exchanges in the last day. Let us just say that even when compared to its all-time high in December of previous year (close to $20,000), its recent decline to a little over $8,000 still leaves early investors with a whopping 800% ROI. The open was $7495.99.

Bitcoin was losing about 2 percent on Friday, trading near the $8,250 mark.

Bitcoin (BTC) is down -44.73% in the last 30 days from $14468.50 per coin.

REUTERS/Benoit Tessier/IllustrationA Bitcoin (virtual currency) coin is seen in an illustration picture taken at La Maison du Bitcoin in Paris, France, June 23, 2017. BTC uses SHA256 algorithm and PoW proof type. Built on a decentralised peer-to-peer network, it was from this that the cryptocurrencies developed, as Bitcoin started out as an attempt to invent a peer-to-peer electronic cash system.There is no central entity, but transactions are made using blockchain technology. "Likewise, receiving it as compensation or by other means will be ordinary income".

With the largest variety of markets and the biggest value - having reached a peak of 18 billion USD - Bitcoin is here to stay. As with any new invention, there can be improvements or flaws in the initial model however the community and a team of dedicated developers are pushing to overcome any obstacle they come across. The report states that "With only several hundred people reporting their crypto gains each year since bitcoin's launch, the IRS suspects that many crypto users have been evading taxes by not reporting crypto transactions on their tax returns".


In 2017, Bitcoin went stratospheric, with a single Bitcoin reaching a value of nearly $20, 000 as the year closed.

Bitcoin is an SHA-256 POW coin with 21,000,000 total minable coins. The block time is 10 minutes.

"This means a decrease in the price of Bitcoin is unlikely to decrease the price of gold, or negatively affect the stock market of USA, but the strong links between Bitcoin and other cryptocurrencies mean that those markets will fall".

However, unlike stocks and bonds, where they are definitive value factors like dividends and cash flow, Bitcoin does not, as of yet, have such definitive features in which to measure it by.

Recommended News

  • Democrats slam Trump's praise of ex-staffer accused of domestic abuse

    Meanwhile , a number of Democrats denounced Trump's comments about Porter and his lack of empathy for the women who alleged abuse. Porter has maintained his innocence, which Trump pointed out. "We hope that he will have a wonderful career", Trump added.

    Stock Showing Surging Activity: Microsoft Corporation (NASDAQ:MSFT)

    Investmentaktiengesellschaft Fuer Langfristige Investoren TGV boosted its stake in shares of Microsoft by 0.3% in the 2nd quarter. Friess Assoc Limited Liability Corporation holds 0.07% of its portfolio in EMCORE Corporation (NASDAQ:EMKR) for 100,000 shares.
    Supreme Court to hear plea of booked officer's father Monday

    Supreme Court to hear plea of booked officer's father Monday

    Lt Col Singh contended in the plea that his son has been "wrongly and arbitrarily" named in the FIR. The petition will be heard on Monday.
  • 76ers' Ben Simmons can't figure out why he isn't an All-Star

    76ers' Ben Simmons can't figure out why he isn't an All-Star

    Simmons' plight to make the All-Star Game is obviously a hot topic for Watts, as the MP had Tweeted about it only a week ago. LeBron James' handpicked team for the All-Star game has been hit by an injury four times.
    Drone light show scrapped after logistical challenges at Olympics opening ceremony

    Drone light show scrapped after logistical challenges at Olympics opening ceremony

    The performance also surpassed the 300-drone salute that was pre-recorded with Lady Gaga for Super Bowl LI past year . Intel is the official drone partner of the Olympics.

    Southwestern Energy Company (SWN), Petroleo Brasileiro SA - Petrobras (PBR)

    As per Monday, October 10, the company rating was maintained by. (NYSE:VZ) earned "Hold" rating by HSBC on Thursday, December 14. Important factors to focus when evaluating a stock's present and future value are the 52 week price high and low levels.
  • Texas Instruments (TXN) Upgraded to "Buy" by Credit Suisse Group

    The Illinois-based First Midwest Bank & Trust Trust Division has invested 0.38% in Texas Instruments Incorporated (NASDAQ:TXN). Sather Financial Group Inc acquired a new position in Texas Instruments during the 2nd quarter worth approximately $600,000.
    Android Messages might finally let you send messages from your computer

    Android Messages might finally let you send messages from your computer

    Alphabet, Google's parent company, is an American multinational conglomerate company headquartered in Mountain View, California. The code also suggests that multiple browsers will be supported, in fact, support for multiple computers is also on the cards.
    Bella Hadid's Alleged Stalker Arrested

    Bella Hadid's Alleged Stalker Arrested

    We're told the model's security called police after she noticed the man had posted a photo of her apartment building. Perez was arrested about a mile away from Hadid's apartment at around 9:30 p.m.
  • After Last-Minute Drama, Congress Passes a Government Funding Bill

    After Last-Minute Drama, Congress Passes a Government Funding Bill

    Congress faced a deadline of midnight Thursday for when the government would run out of money. Ryan said Thursday he believed there would be enough votes in the House to pass the budget.
    Topic of the Day: Are you concerned about the Dow decline?

    Topic of the Day: Are you concerned about the Dow decline?

    Analysts and traders say the sell-off had begun a major correction to nine years of near uninterrupted gains for Wall Street. On Thursday, stocks fell another 4 percent, adding to the concerns that a deeper correction is in motion for Wall Street.

    White House names replacement for ex-aide Porter

    He says: "I think you have to remember that". "I know he came in today to clean out his stuff". He did not elaborate. "There was no coordination of this", she said.

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.