Bitcoin hits $10,000 boasting 940% of gains in 2017

Bitcoin hits $10,000 boasting 940% of gains in 2017

On Tuesday, the virtual currency bitcoin managed to grow to an all-time maximum above $10,000 on key exchanges as well as digital currency indexes, including the well-known Luxembourg-based trading platform BitStamp.

Reportedly created in 2009, the virtual currency bitcoin makes use of encryption along with a blockchain database, enabling the anonymous and rapid transfer of funds outside of a conventional centralized payment system.

It has ascended more than 900% so far in 2017, reporting the largest revenue of all asset classes, taking advantage of soaring institutional demand for crypto-currencies because mainstream and financial use has expanded.

However, many skeptics tell that it appears to be a pure speculative bubble, which has no relation to real financial market activity, to say nothing of the economy. What’s more JPMorgan chief Jamie Dimon dared to have it labeled a fraud.


The US NFP Update: What to Wait for?
The US NFP Update: What to Wait for?

The US Bureau of Labor Statistics will announce average hourly earnings, nonfarm employment change (NFP), and the unemployment rate on May 6, at 15:30 MT time.

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Can the UK CPI surprise?
Can the UK CPI surprise?

The UK Office for National Statistics will publish Consumer Price Index (CPI) data on Wednesday, May 18, at 09:00 MT.

The US Retail Sales Update
The US Retail Sales Update

The US Census Bureau will announce Core Retail Sales and Retail Sales on Tuesday, May 17 at 15:30 MT.

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