Thanksgiving 2017 will be remembered as a remarkable time for Bitcoin, as it reached yet another record high of more than $9 000 and it looks as if $10 000 is imminent.
This is an increase of more than 40% in the last two weeks and according to online news outlets, the price hike is due to all the attention Bitcoin and Cryptocurrencies have been enjoying in the mainstream media. This online trending has caused various individuals to jump onto the bandwagon out of fear that they may be missing out on great investment opportunities. This is true when one considers that online trading platform, Coinbase has seen the number of users triple to more than 13 million during 2017. Coinbase is the largest trading platform for Bitcoin and Ethereum investors.
According to Mike Novogratz, a hedge fund manager, Bitcoin holders have not seen the end of price spikes in Bitcoin for 2017 and he predicts Bitcoin could easily climb to $10 000 before the end of the year. Thomas Lee, head of research at Fundstrat told the media that he predicts Bitcoin’s price to reach $11 500 by mid-2018.
In light of this drastic increase in price and investors, CME Group Inc. announced it plans to offer futures contracts for Bitcoin.
Looking into the future, there are three more forks scheduled to take place in December 2017 and January 2018. Be sure to take note of the following important dates:
• Super Bitcoin (SBTC) – 17 December 2017
• Bitcoin Cash Plus (BCP) – 2 January 2018
It will be a good idea to start putting measures in place to benefit from this in the same way Bitcoin holders have been benefitting from Bitcoin Cash, Bitcoin Gold and as of last week, Bitcoin Diamond.
Sticking to Blockchain technology, Samsung SDS just announced its partnership with the Seoul Metropolitan Government to develop their information strategy plan by means of blockchain tech. This will address relevant issues across South Korea’s departments of welfare, transport and public safety. All in an effort to make Seoul a ‘top-rate global city’, according to Samsung SDS CEO, Hong Won-pyo.