This is a very dramatic period for the future of the Bitcoin, but everything so far indicates that it will be bright. A decision by Heifer International to start accepting donations in Bitcoins is another clear indicator of that.
In terms of the price and its range, it seems to be stabilising at about $665 after a period of dramatic changes. Indicators show that the price will likely remain stable in the following days.
Clearly a Good Sign for Investors and Other Charities
Good news for the struggle against poverty and hunger as Heifer International has announced that it will be accepting Bitcoin donations in the future. Heifer International is one of the largest non-profit organisations in the US and it recently announced that it will be accepting payments via BitPay. Heifer International was established towards the end of the WWII and its initial goal was to help the people who suffered in the most terrifying war in the history of humanity. Nowadays, their efforts are primarily focused on fighting hunger throughout the globe.
The acceptance of Bitcoin payments by one so popular non-profit organisation is definitely good news for the currency and it is reputation. This decision clearly shows that Bitcoins are reliable and Bitcoin users will finally be able to use their Bitcoin wealth to do good deeds. This will very likely be a sign for other charities and non-profit organisations to follow and accept Bitcoin as well.
In fact, Heifer International isn’t even the first large non-profit organization to accept Bitcoin payments. WaterAid also announced that they will be accepting Bitcoin donations after the organization partnered with a smaller, regional Bitcoin start-up organization.
The main benefit from this decision will surely be the incentive for younger people, who are more likely to be holding Bitcoins, to donate money for charity. This will also make things much easier for Heifer International and they will be able to accept donations from all over the world.
This is not the first time for Bitcoin payments to be accepted in philanthropic purposes and the Bitcoin community has already shown its charitable character when large amounts in Bitcoins were donated for causes such as the Nepal Earthquake Relief.
Price Today Stable Near $665
We already wrote on the effect of the so called Brexit on the value of Bitcoin, but this is clearly a very exciting period for the crypto-currency and not only because of Brexit. The price almost reached $700 yesterday, until finally settling at about $660- $665 today. The trade volume dropped slightly and it was $108,392,000 in the last 24 hours and that is one of the things that signals a price stabilisation. The market cap remained stable above 10.5bn.
The fact that today is one of the most important holidays in the US is one of the main reason why the trade volume dropped. This is very likely to be a peaceful Monday in a rather hectic period. We don’t expect drastic changes in the value or the trade volume today.
However, it is very likely that the price of Bitcoin will keep growing in the upcoming period, especially since we expect a cut in the amount of newly created Bitcoins. Experts already stated that the record price that was noted in June this year was caused by the expected ‘halving’. This and the other aspects and current events that had a positive impact on the reputation of the Bitcoin as a stable cryptocurrency will almost certainly drive the price further up in the upcoming period.