|Day's Range||7,299.271 - 7,462.687|
|52 Week Range||2,044.4099 - 18,750.9258|
Thursday, July 19: New York state is investigating the Donald J. Trump Foundation over taxes; Facebook CEO Mark Zuckerberg apologizes for his comments about Holocaust deniers; Amazon shares numbers from another smash hit Prime Day. Yahoo Finance's Dan Roberts delivers today's business news.
The bitcoin price broke several technical barriers Wednesday en route to fresh five week highs after BlackRock confirmed its interest in cryptocurrency and Coinbase announced it had gained regulatory approval to begin listing security tokens. Bitcoin peaked just below $7,500 on Tuesday following a sudden spike in afternoon trading. At press time, the largest cryptocurrency by market cap had gained nearly 10% over 24 hours to trade at $7,410, according to CoinMarketCap.
Among these important landmarks are the creation of the first wide-area computer networks in the 1960s, the development of an electronic mail system in the 1970s, the creation of ethernet later in that decade, the launching of the world wide web in the 1990s and the creation of the first browsers and search engines later in that decade, among others. In a similar way, it's possible to look back on the development of blockchain and also divide it into stages, which are marked off by important developments and inventions. Blockchain technology has only been in existence for a fraction of the time that the internet has, so it's likely that there are still important developments to come.
Bitcoin was trading at $7,422.80, inching down 0.05% on the Bitfinex exchange, as of 8:29 AM ET (12:29 GMT). The digital asset was below its Wednesday high of $7,506.10.
Cryptocurrency evangelists have come out of the woodwork as bitcoin enjoys a sudden change in fortune.
Bitcoin showed further resilience Thursday, building on sharp gains already made earlier in the week. Often in the past, sharp moves higher in the price of the No. 1 digital currency have been followed by pullbacks, or at the least, consolidation. This time, bitcoin has recorded five consecutive winning days and the “price drift,” when an asset drifts in the same direction after a sharp move, suggests there’s more to come for world’s biggest digital currency, analysts say.
Last week, it was revealed that the Litecoin Foundation, the non-profit that facilitates the development of litecoin, one of the largest digital currencies in the world, had purchased a stake in a traditional bank. On one hand, some took the news to be a sure sign of the digital currency sphere's path toward domination of the traditional financial world. Others viewed it as a sign that litecoin was moving in the opposite direction of what other digital currencies have set out to do: to remove themselves from the structure of mainstream banks.
Bitcoinist.com reports on a new study conducted by the Big Innovation Centre, DAG Global and Deep Knowledge Analytics which concludes that Britain is the most likely place in which blockchain will see success. The report, which also claims that the U.K. has industrial and governmental appetite for new blockchain projects, suggests that the U.K. could be at the forefront globally by 2022. With more than £500 million in blockchain-related investments made in the U.K. markets in the past two years, it's not hard to imagine this being the case.
A recent report by Coin Telegraph suggests that blockchain technology, the decentralized ledger system that supports the cryptocurrency world, may be the most important invention since the internet. Indeed, in a review of some of the greatest inventions that mankind has ever produced, including the printing press, electrical-powered devices and radio, blockchain was found to share many traits of these previous epoch-making inventions. Below, we'll explore some of these similarities and discuss what the implications of this distinction might be for blockchain technology.