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In the last 48 hours, Bitcoin has seen an incredible rise in value of over $500.
Not is this great news for investors in Bitcoin, but the good fortune seems to have rubbed off on other cryptocurrencies as well.
Ethereum, Ripple and Bitcoin Cash have all, perhaps as a result of the halo effect, risen in value by 10-20% as well.
Since the crash in late December 2017, and the subsequent terrible first quarter of 2018, Bitcoin has made a remarkable come-back.
Bitcoin buckles the negative trend
Last week, the pioneering cryptocurrency broke the negative trend by increasing its value by over a grand in less than an hour.
Bitcoin is the most valuable cryptocurrency in the world, and it looks like it is bent on maintaining that spot on the crypto-throne.
Although far from its peak of over $19,000 back in December, the Bitcoin now has a healthy value of almost $9,000.
And yet this latest increase in value seems like a small fluctuation when compared to other cryptocurrencies like Ethereum and Ripple.
Ethereum has increased 10% in value in just 24 hours, and Ripple a staggering 19% in the same time.
This difference in fluctuation could be that Bitcoin is more established as a cryptocurrency, compared to Ethereum and Ripple.
Bitcoin Cash, however, has shown a similar rise to Ethereum and Ripple.
The relatively new cryptocurrency, which is also related to Bitcoin, rose by 15% in the same space of time, making it the fourth most valuable cryptocurrency in the world.
With the many good and bad news flooding the cryptocurrency market, it can be difficult to keep track of what is happening.
For now, however, it would seem that the winter is indeed over.
Why is the negative trend reversing?
There could be many reasons for this new rise in value.
Skeptics were noting that the newly imposed cryptocurrency regulations around the world would lead to the decline of cryptocurrencies.
Other news, however, have perhaps ensured that this does not happen.
Last week, Bitcoin and other cryptocurrencies were declared halal by an Islamic scholar in Malaysia.
This means that 1.8 billion more people around the world will have access to cryptocurrencies and can participate in the global market.
The head of the International Monetary Fund (IMF) also expressed her interest in the blockchain technology that has fuelled the rise of cryptocurrencies.
Bitcoin might continue to soar to unprecedented heights
Based on these good news for the cryptocurrency market, experts have predicted that Bitcoin could rise much higher than its peak in 2017.
Some have even predicted that Bitcoin could become as valuable as a quarter million dollars in the four years.
That is indeed good news for investors in Bitcoin.
Those who were distraught by the bad start to this year will now be able to face the rest of 2018 with a more positive outlook on the future.
What do you think the future holds for Bitcoin? Have you invested and are now holding on to your cryptocurrencies in the hopes that they will continue to rise?
Leave your comments in the section below!
The future of healthcare?
Ever since the Human Genome Project, which for the first time allowed people to have their genomes sequenced, massive leaps have been made in healthcare.
Hereditary diseases of all kinds have been combated more efficiently, improving and saving the lives of countless people around the world.
Similarly, artificial intelligence has aided healthcare professionals by improving their systems and saving time as well as resources.
Genomic medicine and artificial intelligence has been revolutionary for medicine. The same could be said for the impact blockchain technology will have on the global economic system.
But could blockchain technology also be used in healthcare? Up until now, few have toyed with this idea.
Project Shivom is the ICO that will combine genomic DNA sequencing with artificial intelligence and blockchain technology to once again revolutionise the way we think about healthcare.
About Project Shivom
The main aim of Project Shivom is to make healthcare more personal, whilst protecting the identity of patients, as well as their personal data.
The team behind it claim that their platform will “allow the transition to value-based precision healthcare”.
The foundation of this ambitious project is the database: the Shivom team aims to build the world’s largest genomic and health database.
Using their platform, everyone will be able to have their genome sequenced and stored in the database.
Why would this be a good idea?
Because healthcare professionals and researchers can make use of the genomic data stored in the database to improve healthcare treatments.
In addition to contributing to this research, patients will also have access to the latest healthcare technology relevant to their specific condition.
Shivom wants an open web-marketplace, an eco-system if you will, where everyone can contribute to the advancement of medical science.
This includes governmental organisations, non-profit organisations, as well as for-profit businesses.
How does it work?
Imagine a place where patients, healthcare professionals, medical insurance companies, pharmaceutical companies, charities, scientific researchers, public institutions, and tech developers all can communicate, and trade knowledge, products and services.
A patient will have their genome sequenced, and be able to monetise their DNA data by receiving OMX tokens in return for adding it to the global database.
By using blockchain technology, the patient will not only remain anonymous, but also own their data and be in full control of what happens to it.
Researchers will then be able to access this data and use to further their scientific studies.
Pharmaceutical companies and healthcare insurance companies will be able to use these new findings to improve their products and services.
The limits for what can be achieved in healthcare research and development will be removed as the project goes global and includes people from all over the world.
Even low-income countries will be able to both contribute to the advancement of medicine, as well as benefit from it.
Have a look at the details, and check out the official video for Project Shivom on the right hand side of this page.
Let us know what you think in the comment sections below!
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Entry Money Review
The financial crisis of 2008 sent shockwaves throughout the world, and the effects of it can still be felt to this day. People were made homeless, others lost their jobs, and mistrust in the banking system was widespread. The financial crisis gave birth to movements like Occupy Wall Street. At the same time, another movement was born: blockchain.
The emergence of cryptocurrencies threatened to destabilize the status quo by offering the people a new way of conducting financial transactions. As the technology behind cryptocurrencies has continued to gain ground, people are also getting increasingly fed up with the current banking system.
International transactions cost a lot of money and take a lot of time, without adding any benefit to the users whatsoever.
The current banking model is flawed and outdated. There is too much paperwork, bureaucracy and risk involved.
ENTRY is a project that aims to disrupt the current system by offering a better alternative.
Say hello to a faster, cheaper and safer way of making financial transactions.
About ENTRY
The ENTRY platform is based on blockchain technology and makes use of smart contracts. The aim of the platform is twofold.
First, it will act as a bank where users can store their cryptocurrency tokens, make payments and lend money out.
They will also be able to transfer both cryptocurrency tokens and fiat money internationally, as well as make use of withdrawal services like ATMs.
The second aim is to function as a cryptocurrency exchange for businesses and private persons.
The team behind ENTRY realizes that transitioning from the current financial system to a new one will not happen overnight.
That is why their mission statement is to be “the gateway between traditional and new financial paradigms and systems led by cryptocurrencies and empower the financial ecosystem to have a framework that allows for interoperability between the two.”
With that said, the aim of the ENTRY project is to eventually phase out fiat money in favor of an economy based on cryptocurrencies.
How does it work?
The general idea is to allow consumers to purchase goods and services online for cryptocurrencies, and the merchants to be paid in fiat money.
The online exchange will allow merchants to do conversions on the platform.
This will ensure they get the right price (minus the transaction fee) and avoid fluctuation and differentiation.
The only fiat currency that will be available in the beginning will be EUR, as the ENTRY project will target the Eurozone first.
The plan is to eventually expand to the global market and cover all fiat currencies.
What do you think?
For cryptocurrency enthusiasts, Entry sounds like a dream come true – maximum financial freedom and flexibility.
For online merchants, this project could also open up a whole new market of customers paying for goods and services with digital currencies.
Does Entry have the potential to revolutionize the way we do banking? Have you already invested in tokens?
Leave your comments below and let us know what you think about the Entry project!
bitcointalk username: Ico Friends
Alibaba is perhaps best known for being the largest e-commerce marketplace in the world.
The platform is mainly geared towards the bulk sale of items of all kinds.
Many European businesses import goods from China by liaising directly with the manufacturers via Alibaba’s platform.
For smaller Chinese businesses or individuals, there is Taobao.
Set up in 2003, Taobao is owned by Alibaba, but functions more like a Chinese version of eBay.
Banning the sale of items related to cryptocurrencies is not a new phenomenon on Taobao.
Previously, sellers of tutorials on how to mine cryptocurrencies have had their items taken off the platform.
Now, however, Taobao is expanding its ruleset.
Anything remotely related to cryptocurrencies, ICOs, and blockchain will now be banned from the platform.
This also includes services like consultancies, ghostwriting, and technical services.
Bans are nothing new in China
For those who have been following the developments in China, this should come as no surprise.
ICOs and cryptocurrencies have not received a warm welcome.
The People’s Bank of China decided to ban all ICOs last year, and now they have banned cryptocurrencies altogether.
There is no ban on cryptocurrency mining yet, but given the current bans in place, it cannot be far away.
It is therefore understandable that Taobao has decided to penalize their users if they try to sell anything related to ICOs and cryptocurrencies.
If Taobao allowed their users to circumvent the bans issued by the People’s Bank of China, the whole platform would be at risk of being shut down.
Despite these bans, which could easily spell the end of the Chinese cryptocurrency community, many are optimistic.
Good news on the horizon
The People’s Bank of China recently had a change of leadership, and the new head of the bank has a very different view of the digital currencies.
According to Yi Gang, cryptocurrencies like Bitcoin provides the users with an unprecedented amount of freedom.
This stance could indicate that there is a good chance the People’s Bank of China will eventually revoke the bans.
Another factor that could give crypto-fans reason to be optimistic about the future is the Chinese government’s stance on blockchain technology.
Cryptocurrencies and ICOs have been banned, but blockchain has not.
That is because the Chinese government is very fond of the technology, and invested $1 billion in startup companies using blockchain.
Furthermore, the People’s Bank of China has the record for most blockchain related patents.
It, therefore, seems a bit counter-intuitive that the People’s Bank of China would issue the bans on ICOs and cryptocurrencies.
Why the mixed messages?
One of the reasons why could, of course, be that the Chinese government and the People’s Bank of China want full control over what the technology is being used for.
By limiting blockchain technology to the companies funded by the government startup fund, they will have that control.
What do you think about the new bans issued by the People’s Bank of China? And what about the Chinese government’s interest in blockchain?
Leave your opinions in the comment section!