Bitcoin Price Increases to Above $10,000

Bitcoin Price Increases to Above $10,000FinancialBuzz.com News Commentary

NEW YORK, February 16, 2018 /PRNewswire/ --
Bitcoin price rose above $10,000 on Thursday for the first time in two weeks. According to CoinMarketCap, the price of bitcoin jumped 7.78 percent to $10,050.40. The world's largest cryptocurrency by market cap now rebounded more than 60 percent from its low of about $6,141 hit last Tuesday. Increasing adoption of cryptocurrency drives the growth of the market. Coinbase, the leading U.S. cryptocurrency trading platform, announced the launch of Coinbase Commerce, a new service that allows merchants to accept digital currencies such as Bitcoin, Bitcoin Cash, Ethereum and Litecoin. DMG Blockchain Solutions Inc. (TSX-V: DMGI), International Business Machines Corp. (NYSE: IBM), Chinanet Online Holdings Inc. (NASDAQ: CNET), Long Blockchain Corp (NASDAQ: LBCC), Bitcoin Investment Trust (OTC: GBTC)

On Wednesday, the price of Litecoin surged over 30 percent on the news that a payment system for Litecoin is set to launch on February 26th. The new payments processor, which is called LitePay, will allow businesses to accept Litecoin payments. The upcoming hard fork for Litecoin also boosts the demand of the digital currency. Litecoin's first hard fork is expected to take place on February 18th. According to CoinMarketCap, Litecoin is the fifth-largest cryptocurrency by market capitalization, with a market value of $11.8 billion. According to CNBC, Iqbal Gandham, U.K. managing director at eToro, said: "With the fork in Litecoin cash it seems to help miners use their equipment more efficiently."

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The global cryptocurrency mining market is expected to reach US $38.38 billion by 2025 Click here to read the news report.