Bitcoin Rally Continues as Price Breaks New Record Highs
NEW YORK, November 2, 2017 /PRNewswire/ --
The total market value of all cryptocurrencies reached an all-time high on Wednesday due to the surge of bitcoin price. The total market capitalization hit $185 billion for the first time on Wednesday, according to data from Coinmarketcap. Bitcoin rose 2.45 percent to $6605 during Wednesday's trading session. The world's most popular cryptocurrency has been continually breaking record highs in the past few days, passing $6,300 on Oct.29 and $6,400 on Oct.30. The price of bitcoin was up over 500 percent this year, bringing its market value to $110 billion. Chineseinvestors.com, Inc. (OTC: CIIX), Digatrade Financial Corp. (OTC: DIGAF), Bitcoin Investment Trust (OTC: GBTC), Global Arena Holding Inc. (OTC: GAHC), Riot Blockchain Inc. (NASDAQ: RIOT)
These two days' rally in bitcoin price was driven by the news that CME Group plans to launch bitcoin futures contracts this quarter. The creation of bitcoin futures is expected to increase the liquidity in bitcoin trading. Mati Greenspan, an analyst with the trading platform eToro, on Wednesday said: "Not only is this a monumental testament to the belief in bitcoin and the demand in the market but it will also boost the liquidity by opening the market to many more interested players."
Chineseinvestors.com, Inc. (OTCQB: CIIX) announced on October 11th that, "the Company has launched the first cryptocurrency daily video newscast in the Chinese language, entitled Bitcoin Multimillionaire, broadcast from the NYSE. The video newscast covers timely information and analysis regarding all aspects of the emerging digital currency world, including specific cryptocurrencies, such as Bitcoin and Ethereum, industry trends, price movement, blockchain technology, and sector-related stocks and ETFs listed on major exchanges and the OTC market."
"Many Chinese investors are seeking information and education related to the cryptocurrency sector," says Warren Wang, Founder and CEO of CIIX. "Moreover, in response to the growing popularity of cryptocurrencies and ICOs, governments around the world, including but not limited to, the United States, China, Japan, South Korea and Switzerland are weighing in and/or enacting regulatory policies regarding cryptocurrencies and ICOs. In the United States, Goldman Sachs Group Inc. recently announced that it is considering a new trading operation dedicated to bitcoin and other digital currencies."
In addition, CIIX also has plans to launch a new cryptocurrency website under the domain name newcoin168.com to serve Chinese cryptocurrency investors. The site, expected to launch next month, will endeavor to be a leader in digital media and cryptocurrency and blockchain technology education providing straightforward explanations of cryptocurrency basics, trading guidelines, real-time market commentary and analysis regarding currency mining, blockchain technology, industry hotspots, sector-related stock trends and ETFs, and other strategies and opportunities to capitalize on the bitcoin market.
"After the recent launch of our Bitcoin Multimillionaire daily video newscast, the Company has decided to further expand its presence in the digital currency sector," says Wang. "Similar to U.S. stocks, as the price of digital currency, such as Bitcoin, continues to increase, Chinese people all over the world are taking notice and seeking access to timely information regarding market trends, news, and analysis. We look forward to being the premier source for this information."
Digatrade Financial Corp. (OTCQB: DIGAF) announced earlier in September that a digital asset exchange, blockchain development and fintech advisory services company today announced the execution of a Letter of Intent "LOI" for its Initial Coin Offering "ICO" with No Limits Consulting Limited (DBA: ANX International, ANXPRO) based in Hong Kong. The project deck, currently under development, will include the leadership team, development team, new Digafund ICO platform & launch date, legal & accounting, regulatory compliance partnerships, white paper, token structure, use of proceeds and user guide registration for token activation among other items and requirements.
Bitcoin Investment Trust (OTCQX: GBTC) nnounced that it has today declared a distribution and established a record date for the distribution of all of the Bitcoin Cash currently held by the Trust to shareholders of record ("Record Date Shareholders") as of the close of business on November 6, 2017 (the "Record Date"). On the Record Date, pursuant to the terms of the Trust Agreement governing the Trust, the Trust will appoint Grayscale Investments, LLC as agent (the "Agent") on behalf of the Record Date Shareholders and transfer the Bitcoin Cash held by the Trust to the Agent on behalf of the Record Date Shareholders. The Agent will thereafter sell the Bitcoin Cash over a period of time, currently not expected to exceed 90 days, and remit the cash proceeds from such sale, net of any administrative and other reasonable expenses incurred by the Agent in connection therewith, to Record Date Shareholders upon completion of the sale.
Global Arena Holding Inc. (OTC: GAHC) focuses on acquiring technologies, patents and companies having the ability to leverage the blockchain crypto technology. The company recently announced that after months of development and testing, the Company's subsidiary, Global Election Services, Inc., announce the implementation of new proprietary software and hardware to utilize in ballot scanning during the tabulation process. John Matthews, CEO of Global Arena Holding, Inc. said "Our priority is to provide our clients with the absolute best election services possible. These new proprietary tools, coupled with decades of reputable election management experience, makes that slogan a reality. Therefore, we will continue to aggressively pursue technological advancements that will give GES the competitive edge."
Riot Blockchain Inc. (NASDAQ: RIOT) leverages its expertise and network to build and support blockchain technology companies. On October 17, 2017, the company announced it has entered into a definitive purchase agreement to acquire a 52% ownership interest in Tess Inc. TESS, based in Toronto, Ontario, has a team of seven engaged in developing a blockchain-based payment service for wholesale telecom carriers. The purchase reflects Riot Blockchain's efforts to own or control companies who are contributing to the development of the blockchain ecosystem. TESS is a technology company whose current business is focused on developing a guaranteed payment system using a blockchain-based escrow service for wholesale telecom carriers. Immutable blockchain terms and protocols guarantee payment and provide an alternative to the traditionally written legal agreements where it is difficult to assess financial risk profiles. The TESS platform will provide a flexible and transparent ledger that is recorded securely on a blockchain.
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