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Bitcoin News :: Business Insider: Bitcoin :: RSS

The latest news on Bitcoin from Business Insider

Today 3 news :

  • Here's a super-quick guide to what traders are talking about right now, par Seth Archer, 19 September 2017

    Tuesday 19 September 2017 :: Business Insider: Bitcoin :: RSS
    traders chicago board options exchange

    Dave Lutz, head of ETFs at JonesTrading, has an overview of today's markets.
    Here's Lutz:

    Morning!  US Futures are headed slightly higher as the “FOMC Drift” kicks in.   Eyes will be on President Trump speaking at UN at 10:30 – The DXY is resting just under resistance.   Markets are mixed overseas, with the DAX down 10bp as Healthcare and Consumer names fall, but the Fins are continuing to show a slight bid.   FTSE is up 30bp as Miners rally, and Retail torn between Sainsbury jumping while Ocado gets smoked.   Volumes are terrible in Europe, with DAX trading 40% light, but FTSE seeing heavy activity.   In Asia, Nikkei, returning from Holiday, leapt nearly 2% as Nintendo ripped 7% higher - Hang Seng off 30bp - Shanghai off small - KOSPI basically unch and Aussie lost small
    The US10YY just under its 100d resistance as we await the Yellen with Fed Funds nearing 60% for December, up from the 30’s last week.  Bunds are unch, while JGB’s see selling on Snap Election headers.  The Bid remains under Portuguese debt, helping the periphery Banks.  DXY gives back yesterday’s gains, with the Euro just under $1.20 as ZEW comes in better - Sterling rallying small over $1.35, but that Renminbi continues to drop.  Ore lost 2.7% in China to hit 2month lows, but Copper holding bid.  The Bid remains in Oil, where Brent and WTI holding 5month highs, while Gasoline eyeballs Maria impact to Caribbean refiners.   Natty is holding yesterday’s gains early.

    SEE ALSO: 10 things you need to know about the markets today
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    NOW WATCH: GARY SHILLING: Stocks are expensive, and a 'shock' could send them plunging Read more Seth Archer
  • The price of bitcoin has a 91% correlation with Google searches for bitcoin, par Jim Edwards, 19 September 2017

    Tuesday 19 September 2017 :: Business Insider: Bitcoin :: RSS
    The current price of bitcoin has a 91% correlation with the volume of Google search requests for bitcoin-related terms, according to a study by SEMrush, a search engine marketing agency.
    The study used a database of 120 million US keyword searches linked to the cryptocurrency. It showed that the price of bitcoin in US dollars rose and fell largely in tandem with the number of search requests for terms like "bitcoin," "bitcoin price," and "bitcoin value."
    At one level, the study merely confirms the obvious: As bitcoin becomes more expensive, and thus more exciting, more people search online to find out how it is doing. On the other hand, it is nice to see statistics confirm your hunches. While the study looked at the correlation between searches and prices, it did not — sadly — say whether searches predicted or trailed the bitcoin/dollar exchange rate.
    Bitcoin searches have gone up 450% since April 2017, SEMrush says. The data in the sample is about a week old.
    Since June 2017, online searches for the price of Ethereum, another digital cryptocurrency, have almost equaled bitcoin searches, SEMrush says. Here is the bitcoin chart:
    Bitcoin price search trends
    Bitcoin grew from about $1,076 on April 1 to a peak of nearly $4,764 at the beginning of September before falling back to $3,972 at the time of writing.
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    NOW WATCH: Here's what makes tech stocks today different from the tech bubble Read more Jim Edwards
  • The US is no longer the world's largest Bitcoin market, par Brad Jones, 19 September 2017

    Tuesday 19 September 2017 :: Business Insider: Bitcoin :: RSS
    Japan Japanese flag fan
    Japan has risen above the U.S. in the worldwide rankings for the largest bitcoinexchange market. The country now accounts for roughly 48 percent of the global market share, reaching a high of 51 percent over the weekend.
    This is thanks in no small part to the Chinese government’s recent rulings on the cryptocurrency. The nation first issued a ban on initial coin offerings (ICOs) and then requested that exchanges and trading platforms cease operations by the end of September, granting an extension until October 30 for OKCoin and Huobi.
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    Those deadlines are still weeks away, but traders aren’t waiting around. Many that were previously operating in China have taking their activity to Japan, causing the spike in the nation’s market share — and reducing China’s from 15 percent to less than seven percent in just three days.
    It remains to be seen whether Japan’s current position will hold or is a fleeting surge. One Chinese official has claimed that the country’s ban on ICOs is a temporary measure, but the country’s position in the cryptocurrency market might be forever changed if the current situation drags on too long.
    Disclosure: Several members of the Futurism team, including the editors of this piece, are personal investors in a number of cryptocurrency markets. Their personal investment perspectives have no impact on editorial content.
    SEE ALSO: Bitcoin surges past $4,100 despite reports of a wide-ranging crackdown on trading in China
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    NOW WATCH: Here are all the major changes coming to your iPhone September 19 Read more Brad Jones