Will the CPI Crash the USD?
The most impactful releases of this week will fill the market with volatility and sharp movements. Be ready to take action!
Bitcoin leaps to all-time peak above $1,700
On Tuesday, digital currency bitcoin reached a record peak because demand for crypto-assets inched up with the creation of fresh tokens to lift funding for start-ups via blockchain technology.
The underlying technology behind bitcoin, Blockchain happens to be a financial ledger maintained by a network of computers, capable of tracking the movement of any asset without a central regulator
On the BitStamp platform bitcoin reached a record $1,760.40, although last it traded at $1,747.89, soaring 6% on the day. This year, bitcoin has ascended almost 80%. On Tuesday, bitcoin's market capitalization inched up to $52.5 billion.
Apart from being an asset, which can be traded on exchanges like bonds and stocks, bitcoin has turned to be a mode of payment for some retailers, including Overstock.com. It’s also utilized transfer money without a third party.
Bitcoin is generated by so-called "mining" computers, validating blocks of transactions by simply trying to resolve mathematical puzzles every 10 minutes. The first computer to solve the puzzle, gets new bitcoins.
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