Cryptocurrency News for 16 Sep 2017
Cryptocurrency Site Coinmarketcap Now Among Top 400 Most Visited Websites Worldwide
Data made available by Alexa shows that coinmarketcap has become the 397th most visited website in the world. The data reveals a considerable spike in recent months, with Coinmarketcap moving up from the position of 1049th most visited website in the last 30 days.
The majority of Coinmarketcap’s traffic is from the United States, with 26.65 of visitors being U.S-based. Other notable traffic sources are the United Kingdom – which accounts for 5.0% of visitors, Germany – 4.8%, India – 4.6%, and Japan – 4.5%. Alexa’s data shows that Coinmarketcap is the 263rd most visited website in the United States, the 212nd most visited in the United Kingdom, and the 277th most visited site in Germany.
The majority of coinmarket cap’s traffic (8.9%) arrives after having visited Google.com. Bittrex and Youtube are the next most common prior origins of visitors, accounting for 4.6% each, followed by Facebook (2.7%), and Google.ru (2.3%).
The percentage of Coinmarketcap’s search-derived traffic has significantly increased since April, with 12.40% of the website traffic being reported to have originated from a search engine. From October 2016 until April 2017, search traffic consistently oscillated between 5 and 10 percent of the website’s traffic. Since April, search traffic has oscillated between 10 and 15 percent of coinmarketcap’s total traffic, signifying an expansion in the cryptocurrency userbase.
Full story at http://bit.ly/2jufSxI
Source: Bitcoin News
Bitcoin Exchange BTCC to Halt Trading as Regulatory Storm Brews in China
It seems the circulating stories of Chinese bitcoin exchanges having to shut down has turned out to be true. On September 14, the exchange BTCC announced it would be suspending all trading on Saturday, September 30.
The exchange is the first major trading platform in the region to announce this decision. Following the exchange’s statement, the price of bitcoin has dropped significantly to a low of $3580 on Thursday morning.
“After carefully considering the ‘Seven Regulatory Bodies’ announcement of preventing risks associated with token fundraising, BTCC has decided to immediately stop accepting new account registrations on the BTCC exchange,” explains CEO Bobby Lee’s translation of the announcement.
Full story at http://bit.ly/2jufSOe
Source: Bitcoin News
Back at $3,500: Has Bitcoin's Price Found a Short-Term Bottom?
The sell-off in the bitcoin-US dollar exchange rate (BTC/USD) appears to have stalled, with prices trading at $3,550 at press time.
Over the course of a volatile day, the cryptocurrency fell to a low of $2,980 oversold technical conditions came into play, as we discussed early today.
As per CoinMarketCap, the digital currency has lost 2% over the last 24 hours.
Full story at http://bit.ly/2jufYFA
Source: CoinDesk
China’s Regulatory Crackdown Forces More Bitcoin Exchange Closures
According to reports, all exchanges that deal with cryptocurrencies in China must shut down operations to stay compliant with the country’s regulators. Following these rumors early this morning, the exchange Viabtc announced it would also be closing operations on September 30. The price of bitcoin is down 38 percent since the two Chinese exchanges made their announcements. At press time BTC is struggling to stay above the $3K price range.
“On September 4th, China’s central bank together with six other departments released a public statement on regulatory policies and warned of the risks of ICO projects,” explains Viabtc’s closure announcement.
Full story at http://bit.ly/2jtPsvY
Source: Bitcoin News
Bitcoin Proponents Respond to JP Morgan Executive’s Statements
JP Morgan executive Jamie Dimon is downplaying bitcoin again and this time calling the decentralized currency a “fraud.” Dimon told a CNBC broadcast that bitcoin markets would “blow up” and he would fire anyone from his team if they traded bitcoin. “It’s worse than tulip bulbs — It won’t end well,” explains Dimon to the news outlet. Following this statement cryptocurrency proponents everywhere made fun of Dimon’s opinion and reminisced on how he said relatively the same thing a few years ago.
Alex Gurevich, former JP Morgan senior executive disagreed with Dimon’s opinion stating to his Twitter followers;
"Jamie, you’re a great boss and the greatest of all-time (GOAT) bank CEO. You’re not a trader or tech entrepreneur. Please, STFU about trading bitcoin."
Full story at http://bit.ly/2jwfhM4
Source: Bitcoin News
From Bear to Bull: Bitcoin Just Won't Die (So Josh Brown Buys)
"Why won't you die?"
That's what Josh Brown, money manager and CEO of Ritholtz Wealth Management, kept asking himself as he watched the price of bitcoin rise and rise.
After years of skepticism toward cryptocurrency, Brown finally relented, buying bitcoin for the first time in July. And yet, at the very moment prices were soaring, news about the number one cryptocurrency by market capitalization turned negative.
"People were saying [about the scaling debate], 'This is going to be the thing that really kills bitcoin.' But the price action was saying the opposite," Brown recalls.
Full story at http://bit.ly/2wuX2I8
Source: CoinDesk
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