It’s almost incredible to see how far the Bitcoin has come after its launch as an innovative concept that could change money as we know it. Not only the cryptocurrency managed to pave the path for tens of other similar inventions, but it also became a fan favourite payment option as well. Plus, as it can be noticed lately, the Bitcoin has become a TV show star too.
Namely, in a recent post we mentioned the new TV show StartUp starring Martin Freeman and Adam Brody, whose plot revolves around a new type of cryptocoin that should be even better than the Bitcoin. Well, after last night’s episode of the hit show Mr. Robot, the Bitcoin has been cast in yet another series. Turns out, in the complex scenario, the government wants to build its own alternative of the Bitcoin in order to control the ledger and mining services. A nice overview of the episode was published in the Wall Street Journal.
However, being mentioned in a top rated show didn’t affect Bitcoin’s price. Thus, today we can see it still stuck around the $610 mark. Quite on the contrary, in the past 24 hours the value per coin has slightly dropped, which was expected considering the fact the volume has been relatively low in the past few days.
Strong Buy Signal by Indicators; Volume Still Low Nonetheless
The current trading price of the Bitcoin is $606.93, which is a bit lower than the trading value of $607.93 we noted two days ago. As can be seen on the chart, the maximum value the Bitcoin reached in the past 24 hours was $611.51, while the day’s low was hit yesterday afternoon and its value was $607.44. In other words, the cryptocurrency is yet again stuck around the $610 mark.
The market cap is still virtually unchanged with its value of $9.65 billion; it’s been around this mark for quite some time now. Similarly, the volume hasn’t changed too much; today it’s settled at $64,200,500. With such a relatively low volume, it’s highly unlikely to witness any price jumps during the day.
However, technical indicators and moving averages disagree with this prediction. They both send a buy signal, with the one by the averages being mush stronger with 10 out of 12 averages being pro-buy. The indicators, on the other hand, are somewhere between pro-buy and neutral with five indicators supporting each of the paths. Only the ROC is sending a sell signal.
Bitcoin Mining Difficulty Increases Again; Ripple Gets $55 Million in Funding
After the long-awaited halving event that took place in July, 2016, the Bitcoin mining difficulty was increased for four times. The latest reported increase was 2.3% and it comes as a result of using efficient mining equipment and increased demand of cryptocurrency.
Other than this new, which may be irritating to miners, there is a good one for investors. Namely, the well known Bitcoin company Ripple has received $55 million in funding. After the Series B funding round held on Tuesday, the San Francisco-based startup has stacked total capital to around $93 million.