Topic: [2017-05-03]Bitcoin Price Continues Historic Highs Toward $1,500 (Read 10645 times)

Due to the regulations coming in July, Japan has 18 firms looking into starting exchanges and other businesses.

That's a huge amount, considering a single exchange can service many users.

I suspect Japan will eclipse anything else in asia, especially since Chinese exchanges are still hobbled by the PBoC and their own regulatory nightmare.

Litecoin thrives on occasional pumps where after that it remains stagnant for a long period of time. As it is right now, Litecoin only gains in price due to SegWit, and that's really it. As soon as the hype is cooling down, you'll slowly see that the price of Litecoin will sink back to below $10 levels. Seriously, it doesn't add anything in terms of usability. Especially when SegWit for Bitcoin activates -- that's the moment when the altcoin bubble will pop.

I have long been paying attention to lithecoin and I see potential in it. But still bitkoin a favorite, because it is the most popular and reliable. I hope that soon the price will be 2000 dollars

Litecoin will have segwit in less then 7 days.
litecoin and bitcoin are very well connected , and anonymous exchanges are everywhere!
so you can use bitcoin as a store of value and LTC soon as payment for small amounts  and private transactions...
segwit will afther activation on LTC quite fast come to BTC ,,, because of the advantages it has.
https://t.co/AXYheaILHW
But segwit will first be tested on litecoin.

I'm not sure that only the Japanese government influenced the price of bitcoin. But it is difficult for me to determine what is the real reason that bitcoin is becoming more expensive. I just want this process to continue ...

He was talking about breaking all time high records of Bitcoin. Which I agree.

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The current price surge is probably caused by the friendly action of Japanese government towards Bitcoin users, first they accepted Bitcoin as money, then they removed the consumption tax, and  encouraging companies to adopt Bitcoins.  People saw that there are major Japan company that are willing to venture in Bitcoins and this means huge fund coming in.  Traders and investors knew that, so with the idea of Bitcoin increasing in value makes them buy more.

We need to see more of such headlines as they are not only nice to read but they also entrust investor confidence not to shy away from bitcoin.

these are certainly determining factors that will make bitcoins existence more favorable and trigger more demand for btc.

And then we'll see articles about 2500 .... 3000 .... 3500

Journalists need sensations, after all. And it's always nice to read. When the price goes up - it's wonderful!

Not really. The way the price is headed, we could cross $1500 in a couple of days time.
Then the articles will talk about Bitcoin's path to $2000. 

The Japanese will remove the imposed 8% consumption rate tax in July, so after that there will be normally more people going to buy bitcoin and then the price will rise further, cute 

There will be a lot of such articles in future 

Bitcoin price continues to break records in pushing to yet another all-time high on Tuesday, rising to a peak of $1,481.7 (Bitstamp Price Index) today.
Bitcoin began trading above $1,400 in May and those gains have continued sharpish during the second day of the month. BPI data shows prices breaking beyond the previous all-time high of $1,350 on Sunday evening (UTC). At 17:00 on Monday, bitcoin was trading above $1,400 for the first time in history.


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Prices below $1,400 in the early hours leading into Tuesday, ultimately proving to be a minor drop rather than a correction. Instead, the bullish run resumed as prices jumped from $1,390 at 01:00 to $1,414.62 within the hour. A sustained run of trading saw a steady climb, gaining $20 near 10:40. The bigger spike was yet to come.

Trading around $1,435 mark at 11:00, yet another all-time high, prices jumped over 3% to scale a new unprecedented high of $1,481.7 within 20 minutes of midday, on Bitstamp.

At the time of publishing, that momentum has hit the brakes with prices trailing off to fall toward $1,440.



A closer look into today’s rapid rise in value shows a surge in trading activity, nearly $700 million in bitcoin according to CoinMarketCap. The trading is markedly led by Japanese markets where the yen contributed to over half of the global trading volume over the last 24 hours.

The Yen-Bitcoin trading is all the more notable given that Japan continues to impose an 8% consumption rate tax on purchasing bitcoin through exchanges. Toward the end of 2016, Japanese officials took the call to formally end this tax tariff, a move that will go into effect in July this year.

A report from prominent Japanese financial publication Nikkei today revealed that up to 18 companies are planning to apply for a special license (details here) to operate bitcoin and digital currency exchanges in Japan. Over 10 of the 18 companies are new entrants into the local bitcoin ecosystem in Japan, underlining the opportunistic interest among companies to tap into demand for the cryptocurrency which gained recognition as a legal method of payment last month.

Speaking to Reuters, Cryptocompare founder Charles Hayter stated:

The Japanese have recently warmed their approach towards bitcoin by treating it legally as a form of payment – a ratification and bringing into the regulatory fold.

These legislations that include legal changes and a move to regulate digital currency exchanges can be seen as the pillars toward Japan becoming one of the world’s leading economies to take a friendly stance toward digital currencies. Over a quarter of a million retail Japanese storefronts are set to accept bitcoin by this year’s summer.

Another factor that could have helped trigger bitcoin’s bullish run in recent days is the US Securities and Exchange Commission’s announcement to review its March decision that rejected the bitcoin exchange-traded fund (ETF) proposed by the Winklevoss brothers.

At its all-time high of $1,481 today, bitcoin has gained nearly 50% in value since the turn of 2017. The strong gains made over the last week has helped push bitcoin’s total market cap to scale above $24 billion for the first time in its history, the equivalent of nearly half of the market capitalization of automaking giant General Motors.
https://www.cryptocoinsnews.com/bitcoin-price-continues-historic-highs-toward-1500/