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Bitcoin Shatters $4,000, JP Morgan, John McAfee on China, Nodes & Miners in North Korea

September 20, 2017 at 11:07 by Daniel Green

The $4,000 resistance level has been shattered, and we seem to be getting closer and closer to the $4,179.14 weekly high.

Bitcoin bubble talk shows no sign of subsiding any time soon, with Ray Dalio, billionaire investor, preaching to the choir in a fresh marketwatch article. He is the founder of the investment firm Bridgewater Associates, and was managing the hedge fund until a few months ago. It is by far, one of the world’s largest to date, and stands at a $150 billion market valuation.

JP Morgan has been under severe scrutiny since their last public foray into bitcoin price forecasts and predictions. Russia Today has released an article that addresses the issue in more detail.

A recent collaborative venture between First Block Capital and FrontFundr FBC, resulted in the formation of the first Canadian bitcoin centric trust. With regulatory approval secured from the B.C. Securities Commission, investors will now have easier access to crypto currency derivatives.

John McAfee, one of the chief creators of McAfee Antivirus, the first commercially viable antivirus software, has been very vocal on bitcoin. He met with both Roger Ver and Jihan Wu, with the main points of discussion being related to Chinese regulation, and denied the possibility of any future government crackdowns on bitcoin mining opportunities in China.

This amidst worries that the crypto takedowns and bans will continue in the world’s most populace country, the Beijing and Shanghai municipal authorities were first to terminate local exchanges, and many worry that this trend will boil over to the mining sector, of which Bitmain holds a considerably large market share.

Notable executives of China based crypto exchanges, have also been ordered not to leave the country. Although a Business Insider article downplays the whole matter, stressing that the Chinese market is not as dominant or relevant as it once used to be.

North Korea is garnering worldwide attention, with abounding front-page headlines on the many consecutive missile launches transpiring over Japan’s airspace. Allegedly, the regime has begun to look into bitcoin, with some accusing the government of hacking exchanges, and even running large scale crypto mining operations.

Despite it all, bitcoin could end up being beyond regulatory and establishment control, at least according to the Sydney Morning Herald.

Bitcoin began trading at $3,461.38 on September 17 (GMT 08:00), and in less than 48 hours on September 18 (GMT 23:00), a new 4,123.36 daily high was achieved. The price was $3,899 at the time of writing, and numerous oscillations are frequent above and below the $4,000 horizontal price line, in just the past 2 days alone.

If you have any questions and comments on bitcoin today, use the form below to reply.

2 Responses to “Bitcoin Shatters $4,000, JP Morgan, John McAfee on China, Nodes & Miners in North Korea”

  1. Christopher Raymond

    Isn’t speculation and volatility a problem for Bitcoin?

    [Reply]

    Daniel Green Reply:

    Not really, bitcoin will do fine, traders on the other hand will have to adapt accordingly. Although the volatility has been dropping with time, if the market cap continues to rise, then the violent swings we are witnessing should drop percentage wise.

    [Reply]

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