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BITCOIN THE BIGGEST BUBBLE OF OUR TIME ? If Bitcoin Was A Company It Would Be Bigger Than Nike & UPS

The value of the world’s largest cryptocurrency bitcoin has broken the $5,800 mark, hitting another all-time high before retreating to the $5,600-$5,700 level, still close to the maximum.
Its market capitalization is approaching $97 billion. If bitcoin were a company, its market cap puts it in the same league as some of the world’s biggest corporations.
The cryptocurrency would be in 77th in PwC’s list of the top 100 corporations, bigger than Bayer, Goldman Sachs, UPS, Nike, and Mitsubishi.

Bitcoin is up over 480 percent year-to-date.
The reason behind the rally is talk China may reverse the ban it imposed on cryptocurrency exchanges last month. The Chinese central bank also declared initial coin offerings (ICOs) illegal and banned fundraising through ICOs.
After the Chinese ban, the Japanese yen consolidated the global trade volume, with 57 percent of bitcoin’s fiat exchange volume. The US dollar and South Korean won follow.
Some investors say bitcoin bulls could test a new ceiling of $6,500. They are also buoyant that banking giant Goldman Sachs is likely to start trading bitcoin.
Mike Novogratz, Galaxy Investment Partners, recently told CNBC that bitcoin can hit the $10,000 mark soon, but with a warning.
“Remember, bubbles happen around things that fundamentally change the way we live,” he said.
“The railroad bubble. Railroads really fundamentally changed the way we lived. The internet bubble changed the way we live. When I look forward five, 10 years, the possibilities really get your animal spirits going.”

Bitcoin is likely to become “the biggest bubble of our time,” he added.

This week bitcoin proponents have been talking about the bitcoin gold fork scheduled for October 25. With just a few days away, bitcoin exchanges and service providers have been detailing their contingency plans on how to best deal with the upcoming distribution of split tokens.

Also Read: Bitcoin Cash Community Preps Hard Fork Slated for November 13
Coinbase Reveals Plans for Bitcoin Gold

Bitcoin Service Providers Continue to Reveal Plans for Bitcoin GoldBitcoin enthusiasts have been discussing the bitcoin gold fork a lot this week across social media and cryptocurrency forums. Now many bitcoin-based service providers are coming out of the woodwork to explain their company’s stance towards this fork and associated token. Further, just recently reported on a large swathe of Japanese exchanges detailing their split contingency plans. bitcoin cyrptocurrency money value "bitcoin price" 2017 2018 money cash invest investment "buy bitcoin" "trade bitcoin" trade trading "stock market" corporation big biggest "invest in bitcoin" gold "sell gold" rally "bull market" banking bank savings "savings account" "bank account" exchange "accept bitcoin" "pay with bitcoin" wealth bubble lifestyle internet future tech technology On October 21 the cryptocurrency exchange and brokerage service Coinbase revealed its plans for bitcoin gold. Coinbase says the protocol is incompatible with the existing version of bitcoin and the company will not support this fork.

“At this time, Coinbase cannot support bitcoin gold because its developers have not made the code available to the public for review If you thought you missed your chance to buy Bitcoin when the price broke $6,000 for the first time Friday, there’s one argument that might convince you otherwise. egendary investors such as Warren Buffett have advised against buying assets when their price is high, arguing that the best way to make money is to buy low, and, ideally, sell high. Yet a chart created by an influential analyst and investor illustrates why he predicts the Bitcoin price could go higher still — and in fact, may reach as high as $7,400 before its next significant dip. Coinbase, on the same day the popular cryptocurrency hardware wallet manufacturers, Satoshi Labs and Ledger, also gave updates on the bitcoin gold situation Bittrex explained they will be crediting users with bitcoin gold if they held bitcoin on the exchange prior to block 491,407 occurring approximately on October 24 silver coin

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