- Bitcoin (BTCUSD on xStation5) has surged of late owing to an increased demand fueled by another possible fork
- Bitcoin draws attention of the Tanzanian central bank, the bank is cognizant of risks associated with digital currencies though
- Ripple (XRPUSD) wipes off yesterday’s gains, a resumption of an increase could be likely
Bitcoin rose quite substantially on Monday while gains were possibly sparked by an increased demand from Chinese traders who were back after the Golden Week. What’s more, a higher demand could have stemmed from guesswork that another fork could be likely to occur in the nearest future. One could assume that those who will be interested in getting Bitcoin Gold (BTG), a by-product of a possible division of Bitcoin, might be in a rush to buy the genuine Bitcoin in order to be entitled to grab the new cryptocurrency. Therefore, it’s likely that the current surge in buying is driven by investors hoping to maximize their Bitcoin position before any fork takes place.
Bitcoin Gold is scheduled to go live sometime in November and the goal of BTG is to become a better gold than Bitcoin. Keep in mind that Bitcoin Gold will only affect you if you own Bitcoin when they (developers) pick the hard fork block, that is, around 25 October. You will receive the exact amount of Bitcoin Gold as Bitcoin you hold at that block. To sum up, Bitcoin Gold is another hard fork that will bring some changes to the ecosystem. If you’re a holder, there isn’t that much to fear here, and there may be some free money in it for you.
We’ve already written several stories concerning African countries being interested in cryptocurrencies. Today we want to refer to Tanzania where the central bank expressed its interest of the cryptocurrency markets. However, it seems that there is still quite distant to see more meaningful steps taken by authorities. As for now governor of the Tanzania central bank says that he knows about virtual currencies, but as a government, they want to study it to understand that topic in-depth.
Ripple has wiped off its yesterday’s gains but could see a bid given a technical view. The price has already managed to defend an upper limit of an ascending channel which could be a sign of growing demand. Source: xStation5
Other news related to cryptocurrencies:
- Japanese renewable energy provider, Looop, has announced an electricity plan aimed at reducing costs for Bitcoin and other cryptocurrency miners.
- The South Pacific island nation of Vanuatu has become host to the world’s first government to accept Bitcoin in exchange for citizenship. Vanuatu’s citizenship program costs $200 000, meaning that at current prices the residency program costs less than 41.5 Bitcoins.