Certain Cryptocurrencies Continue to Rally
The price of bitcoin continued to rally last week or closing at $4,522, which over the course of the past week has increased by 7 percent. According to data provided CoinDesk, bitcoin is now up 68 percent month-over-month.
The prices of other cryptocurrencies also jumped as well and the overall market cap of cryptocurrencies climbed above $150 billion for the first time. Despite the recent rally in the price of bitcoin, some experts think that it's not over yet.
Ronnie Moas of Standpoint Research told CoinDesk: "I do not think we are in a bubble." The ;eading players are Chineseinvestors.com, Inc. United American Healthcare, MGT Capital Investments, Bitcoin Investment Trust, BTCS Inc.
"I am not any more concerned with bitcoin being at a record high than Amazon or Google investors were concerned when those share prices jumped hundreds of percent and hit $100 and $200 many years ago. Today, both of those stocks are above $900. The question is not where we are at - it is where are we going? I do not think we are in a bubble," Moas explained.
"Now, imagine what they think of their own local currencies elsewhere in the world. Imagine you live in Venezuela and you're keeping your money under the mattress. Would you rather leave it there in Venezuelan bolivar or would you rather put it in bitcoin? It's not going to take you very long to make that decision."
Chineseinvestors.com Inc. plans to launch the first Chinese daily video news broadcast from the NYSE covering digital currency and blockchain technology. The videos will be produced by Wall Street Multimedia, an independent news agency located in the NYSE.
The broadcasts, anticipated to begin airing in October, will provide timely information and exclusive analysis regarding all aspects of the emerging digital currency world, including specific cryptocurrencies, such as 'bitcoin' and 'ethereum', industry trends, price movement, blockchain technology, sector-related stocks and ETFs, etc.
