Bitcoin News And Price Analysis: Intercontinental Exchange to Popularize Bitcoin. Sunday, August 5
Important Bitcoin News
Intercontinental Exchange Behind A New Exchange to Popularize Bitcoin
Intercontinental Exchange (ICE), the owners of the New York stock Exchange (NYSE) has announced the launch of a new subsidiary, Bakkt which will be tasked with holding and managing bitcoins for investors.
Bakkt will be hosted on a Microsoft cloud and will commence operation by helping investors convert their bitcoins to government-backed fiat such as dollar.
The company announced that the interest in Bitcoin stems from the fact that it is the most liquid digital asset in the coin market.
Bakkt represents a positive outlook for the coin market which traditionally responds to fortunes of Bitcoin. The market has had significant successes that have been marred by allegations of market manipulations, fraud and scams despite its potential promise, having been termed as having the ability to cause significant disruptions to the financial system.
The launch of Bakkt is one of those projects that lend credibility to the assertion that the coin market is increasingly becoming mainstream.
Bitcoin Market Nosedives Despite Positive News
Yesterday, August 4, 2018 Bitcoin price plunged shedding $500 in less than 7 hours. The effect was felt in the coin market as most altcoins lost substantial values. Coin 360 report shows that the top ten coins are presently trading in red as Bitcoin dipped below $7000.
Although as at the time of this report, the coin has made slight gains trading at $7000, it is obvious that the loss of today is comparable to values last seen since July 17. The premier coin had dropped to a low of $6,980 with analysts predicting that Bitcoin has found new support at $6,800, nevertheless the coin seems to be eying a high above $7000 before the end of the day and looking ahead for a support above $7,000.
BTC/USD Price Chart, Sunday August 5th:
Follow TokenTops on Twitter to stay notified about new articles, cryptocurrency news, ICO announcements and price predictions and analysis.
Legal Disclaimer: Please remember that trading, buying or any other type of investing in cryptocurrencies should be consider risky and may lead to the loss of all of the invested money. For further information visit Terms and Conditions section on TokenTops. We do not encourage our readers to any kind of financial decisions. Neither tokentops.com nor its parent companies accept responsibility for any loss, damage, or inconvenience caused as a result of reliance on information published on, or linked to, from tokentops.com. We believe that everyone should make their own and in depth research on the particular topic in various sources before making any financial decision and this person should be the only one responsible for the outcome. Our writers do their best to remain unbiased and don't actively support any project. The research is done with various sources, the predictions are based on own believes, analytical skills, experts and community discussions and is intended to convey general information only.
You may also like
Bitcoin News And Price Analysis: Bitcoin Dominance Still High As Coin Market Tries to Recover. Monday, August 13
Bitcoin News And Price Analysis: Speculative Suspicion of Bitcoin Price Manipulation. Saturday, August 11
Starbucks Not Accepting Bitcoins And Altcoins Despite Reports. BTC/USD Price Chart. Tuesday, August 7
Ethereum Classic News And Price Analysis: Few Days to Coinbase Listing; How will it affect ETC Price? Monday, August 6
LISK News And Price Analysis: Getting Closer To Lisk Core Mainnet. Sunday, August 5
TRON News And Price Analysis: Peiwo App to Run For TRON Super Representative. Sunday, August 5
You need to login to create comments.