BITCOIN could be set for a comeback after climbing 10 percent over the last day to hit a high of $7,523 in the early hours this morning. Prices have been boosted by yesterday's report from the Financial Stability Board (FSB), leading one expert to herald proof that "cryptocurrencies are the future of money."
Good morning, and welcome to our rolling coverage of all things cryptocurrency, including price, regulation, innovation and financial crime.
Bitcoin is priced at $7,460 this morning with ethereum climbing to $504 and ripple up at $0.51.
Prices are up today after the FSB has sent the crypto community a welcome boost by delivering a framework for the world's leading G20 countries to “monitor the financial stability implications of crypto-assets markets.”
Pouring cold water on the idea of crypto sparking the next global financial meltdown the FSB said that cryptocurrencies like bitcoin “do not pose a material risk to global financial stability” but they fully support their “vigilant monitoring.”
CEO of deVere Group, Nigel Green, celebrates the news after BTC climbed the 50-day moving average (MA) on Monday for the first time in nearly two months, hiking its price above $6,700.He sad: “The survey’s findings demonstrate that high net worth individuals are increasingly unable to ignore the huge potential of cryptocurrencies.”
“The world of money has fundamentally changed – and despite what some crypto cynics want, it can’t and will not go backwards. Therefore, the FSB’s proactive and positive work in this sector must be championed.
“The FSB's conclusion follows more and more global financial institutions, major corporations and household name investors now working with cryptocurrencies and blockchain, the technology that underpins them, and as international regulation is developed further.
“Cryptocurrencies are the future of money and they are already undeniably part of mainstream finance."
Got something to add? Send your reaction / thoughts / analysis / price predictions over to @DavidGDawkins.
Updates below throughout the day....Express. Home of the Daily and Sunday Express.express_logo
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Bitcoin price LIVE: BTC soars to $7,500 - G20 framework makes crypto the 'future of money'
BITCOIN could be set for a comeback after climbing 10 percent over the last day to hit a high of $7,523 in the early hours this morning. Prices have been boosted by yesterday's report from the Financial Stability Board (FSB), leading one expert to herald proof that "cryptocurrencies are the future of money."
By DAVID DAWKINS
PUBLISHED: 08:26, Wed, Jul 18, 2018 | UPDATED: 08:26, Wed, Jul 18, 2018
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Bitcoin price LIVE: BTC, ETH and XRP are upGETTY
Bitcoin price LIVE: BTC, ETH and XRP are up
8.00am MORNING HEADLINES
Good morning, and welcome to our rolling coverage of all things cryptocurrency, including price, regulation, innovation and financial crime.
Bitcoin is priced at $7,460 this morning with ethereum climbing to $504 and ripple up at $0.51.
Prices are up today after the FSB has sent the crypto community a welcome boost by delivering a framework for the world's leading G20 countries to “monitor the financial stability implications of crypto-assets markets.”
Pouring cold water on the idea of crypto sparking the next global financial meltdown the FSB said that cryptocurrencies like bitcoin “do not pose a material risk to global financial stability” but they fully support their “vigilant monitoring.”
CEO of deVere Group, Nigel Green, celebrates the news after BTC climbed the 50-day moving average (MA) on Monday for the first time in nearly two months, hiking its price above $6,700.
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Cryptocurrencies are the future of money and they are already undeniably part of mainstream finance.
Nigel Green, CEO of deVere Group
Mr Green says that the latest report can be seen as further recommendation of cryptocurrencies from the influential FSB — which has members from all the G20 major economies.
He sad: “The survey’s findings demonstrate that high net worth individuals are increasingly unable to ignore the huge potential of cryptocurrencies.”
“The world of money has fundamentally changed – and despite what some crypto cynics want, it can’t and will not go backwards. Therefore, the FSB’s proactive and positive work in this sector must be championed.
“The FSB's conclusion follows more and more global financial institutions, major corporations and household name investors now working with cryptocurrencies and blockchain, the technology that underpins them, and as international regulation is developed further.
“Cryptocurrencies are the future of money and they are already undeniably part of mainstream finance."
Got something to add? Send your reaction / thoughts / analysis / price predictions over to @DavidGDawkins.
Updates below throughout the day....
Bitcoin price LIVE: Dr DoomGETTY
Bitcoin price LIVE: DR Doom
8.22am - Dr Doom not convinced
Academic Nouriel Roubini, who predicted the 2008 Financial Crisis, known as Dr Doom to his friends says that BTC's price rise is questionable.
He tweeted: "Bitcoin literally spiking up by almost 10% in about 30 minutes today based on no news.
"So only explanation: price manipulation. Since Tether recently printed another $200 million of fake money & since research proves Tether used to manipulate BTC, manipulation is at work again."