Skip to main content

Bitcoin prices skyrocketing and predicting $3,000 by end 2017

Tinuku ~ Bitcoin's sheen and price skyrocket. Bitcoin's digital currency is high, prices set a record high on Thursday 11 May at US$1,820, although a day later it dropped to US$1,800. But prices have skyrocketed 91.26 percent since 2016 as more countries are legalizing this future currency.

Tinuku Bitcoin prices skyrocketing and predicting $3,000 by end 2017

During May 2017 Bitcoin prices rose 39.54 percent and market capitalization grew larger. This week, Bitcoin's market cap increased by US$3 billion to US$29.53 billion. Strengthening Bitcoin prices happen as some countries begin to recognize this virtual currency.

Japan on April 1, 2017 declared Bitcoin as an official and legitimate payment instrument. This Japanese policy also boosted the price of Bitcoin as demand increased. Russia is setting the digital currency, while the Central Bank of Australia will also open the virtual currency opportunity as a means of payment.

"More than 50 percent of Bitcoin's trade volume is in yen denominations," said Brian Kelly, Chief Executive Officer of BKCM.

Meanwhile, the United States proposes to create a trading on the exchange that allows institutional investors into Bitcoin, even though the Securities and Exchange Commission (SEC) rejected the request.

In Indonesia there is no rule about virtual currency. Bank Indonesia (BI) often confirms that virtual money like Bitcoin is not a valid means of payment in Indonesia. Whereas Bitcoin is very prospective if buying and selling at the right time.

"Bitcoin prices are up and down depending on market demand," said Oscar Darmawan, CEO of Bitcoin Indonesia.

Darmawan says Bitcoin helps people to shop on the internet. Many Indonesians do not have credit cards and banking access. Bitcoin is also safer than a credit card considering there is no need to enter a card number that can be misused.

Probably, bitcoin prices will be more expensive. Aurelien Menant, Founder and CEO of Gatecoin, predicts that the price of the digital currency could reach US$3,000 by the end of 2017.


Popular posts

GyroCycle motorcycle self-balancing gyroscope tech by Thrustcycle Enterprises LLC ready market 2017

Tinuku ~ Thrustcycle Enterprises LLC has been set up GyroCycle electric motorcycle that will not collapse even without the support for the production in 2017. The company is based in Honolulu designing electric motorcycles equipped gyroscopic technology for stability and anti-collapse.

Know Various Types of Traditional Indonesian Batik Patterns

Tinuku ~ Various types of batik spread across the archipelago. Batik is art of painting using cloth has a pattern and a special way of making the write or paste on the fabric. By treatment with certain distinctive ways.

Batik is pictorial cloth made specifically by writing or applying wax to cloth and since October 2, 2009 batik has been designated as one of Indonesia's cultural heritage by UNESCO.

Everyone knows batik designs have supernatural powers and each motif worn only by specific users. Parang motif which symbolizes strength and power, should only be worn by rulers and knights. Batik of this type must be made with calmness and patience.

If you do wrong in the batik process, the magical power is lost. The process of making batik is full of philosophical meaning, batik is a meaningful symbols that shows how society thinks maker.

Perhaps you just know only one kind of batik design. But geography and area of Indonesia storing various types of batik motifs depending on region t…

Japan aims to mine rare earth elements on the seabed

The discovery of the potential of millions of tons of valuable "rare earth" elements in Japanese mudflow has boosted Asia's second-largest economic hopes of reducing dependence on Chinese supplies, but extracting minerals used for diverse technologies including cell phones to electric vehicles is expensive and difficult, especially when buried for miles in the ocean.

A study reveals that some 16 million tonnes of rare earth is enough to meet global demand and make headlines internationally where Japan is the world's second largest consumer of these minerals but relies heavily on imports from China that control 90 percent of strategic markets.

China takes about 150,000 tons of rare earth by 2016, but it limits supply amid political tensions. Japan is looking for some way to free itself from dependence on China's supply. Japanese companies are working on recycling products, developing technology without scarce land and investing in foreign mining projects as minera…