There has been fear for the bitcoin investors lately, bitcoin latest news today is talking about the bitcoin price downfall after a major investor Mt Gox has moved about 16,000 bitcoins to an unknown address. This is quite a lot to inhale to those involved since such amount can bring a very big effect on the cryptocurrency market. The bitcoins hold a current market value of $140 million and above, considering selling such amount of bitcoins could definitely bring a significant effect to the market. According to Coin Market Gap price index, one bitcoin has a value of around $8,800. The last time this happened, the market fell apart where it was all turned into the red.
According to the released report says that Mt Gox should not sell more bitcoin and wait for further notice from the judges this was a tragic incidence that happen on 26 April 2018. As bitcoin enters the level of $9,000 it has increased by $400, this is an update from 27 April 2018. what is bitcoin trading this is the day bitcoin experienced an unexpected dip in price which pushed it to $8,800 spot. As the market records strong gain, the market valuation rose to $420 billion which shows a great sign.
Another bitcoin news update says that bitcoin has become better compared to gold “on every front”. According to major institutional investor, bitcoin could soon be worth almost $700,000, this was a remark made at Sohn investment conference in New York by john pfeffer. The investors continued to recommend bitcoin saying that it is the first one to replace gold, it is matching toward being the new gold. He continues to say that if the digital currency displaced 25% of the foreign reserves, bitcoin’s total value would be laying somewhere in the level of %6.4 trillion.
Since pfeffer mentioned bitcoin as an investment gain investors have already started to place bets on the digital currency, how to trade bitcoin the virtual currency is trying so hard to maintain its top position by using all its resources to beat its competitors. Bitcoin has been taking competitive advantage to make their stand on the market be firm as always, investors have been becoming richer and richer with bitcoin. Sometimes the cryptocurrency may be collapsing affecting the digital currencies company but bitcoin has been on the front line in the battle of market distortion. Bitcoin latest news today indicate that the digital currency has shown its courage in this battle after dropping from $20k high to $9K, it is believed to always be the strongest player in cryptocurrency.