After a fall that led to less than USD 8,000, the price of Bitcoin experiences a rebound. The President of China considers that the Communist Party must use blockchains to implement advances.
In recent weeks Bitcoin’s price was quoted below USD 8,000 on October 23rd and 24th, recovering on the 25th with a rebound of 15%, which again exceeded USD 8,000 per unit. The progress continues as Bitcoin’s price is USD 9,704 at the time of writing this article.
With the incorporation of 5 daily cryptocurrency ATMs on average, the increase in their number in the last 12 months has been 53.34%, with 2,014 new Bitcoin ATMs installed. Since 2017, the number of these devices has grown steadily and has exceeded 400% in two years.
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In the last twelve months, more than 2,000 Bitcoin ATMs have been installed worldwide, according to the latest Coin ATM Radar figures. These devices, whose installed base reached the amount of 5,790 on October 22nd, had recorded the figure of 3,776 on October 1st, 2018.
With the announcement of the launch of Cryptosteel Capsule, Sword Ltd explained that the capsule can store important information in a hexadecimal key of up to 123 characters or in a random sequence key (ASCII) of up to 55 characters. The device contains a central column on which the user can manually assemble a sequence of discs on which the characters are recorded.
Several economists warn that the measure of the President of Venezuela, Nicolás Maduro, indicating that Petro holders will be able to convert the cryptocurrency into other currencies, will fail due to inconsistency, financial unfeasibility and inability to correct the current economic distortion in the country.
An enthusiastic Bitcoin developer and the Lightning Network payment network showed how to build a point of sale with less than USD 8, to process transactions with the main cryptocurrency in the market through the micropayment network. Known as The Quickening, the equipment is functional and is a cheaper version of the M5StackSats point of sale, which operates on the same platform.
Mark Zuckerberg, CEO of Facebook, answered many questions that reflected skepticism and reservations about the Libra project and its possible implications for the financial system, at a hearing held on October 23rd before the Financial Services Committee of the United States Congress. During the meeting, Congressman Brad Sherman attacked Bitcoin and the other cryptocurrencies, noting that such technology is useful only for criminals. In addition, he warned that these assets have the potential to threaten US dollar dominance over the global financial system.
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The president of China, Xi Jinping, suggested that the Communist Party should consider some blockchains as central technologies for important and innovative advances. In addition, he pledged to accelerate development in that direction at a meeting with the Political Bureau of the Party Central Committee.
On October 25th, Bitcoin’s price had a rebound of more than 15% compared to the previous day. In a matter of hours, the value of the cryptocurrency with the highest market capitalization went from being slightly below USD 7,500 to over USD 8,680. One the events that might have some influence on the price is the fact that Bakkt’s Bitcoin futures achieved a new record.
Caracas, capital of Venezuela, already has its second cryptocurrency ATM (BATM). This is another device installed by the Venezuelan Exchange company Veinte Venezuela. On this occasion, the BATM was activated at the Eurobuilding hotel, in the eastern part of the Venezuelan city.
By Willmen Blanco
