Bitcoin price surges to $4700 — an all time high! – August 29

It’s a lift off. Bitcoin price just set a new all time high reaching $4693 after trading below $4500 mark for the past two weeks. The upward trend started from $4,342 at around 12:20 UTC on Tuesday and continued till it brushed $4700 level.

At the time of writing the price of Bitcoin is down $100 and is trading at around $4594. This has made cryptocurrency market cap reach an all time high as well at $165 billion.

This rise is likely the signal of successful SegWit implementation. Miners have started mining SegWit blocks. Investors are much more confident now and seem to have taken control. This bullish ride is expected to continue till the price reaches $4900.

The likes of John McAfee and Max Keiser continue to be bullish and are confident $5000 per coin is not far in the future. We saw similar action with Ethereum which rose 7% in the past 24 hours.

Top Stories from the Crypto World

1. SEC details reasons for ICO suspensions

The US Securities and Exchanges Commission (SEC) has issued a warning about ICOs and reasons it could “suspend” them in future. There are main three reasons why SEC could so it in public interest:

A lack of current, accurate, or adequate information about the company – for example, when a company has not filed any periodic reports for an extended period;

Questions about the accuracy of publicly available information, including in company press releases and reports, about the company’s current operational status and financial condition; or

Questions about trading in the stock, including trading by insiders, potential market manipulation, and the ability to clear and settle transactions in the stock.”

2. Russian Bitcoin miners may get spare energy from energy firms

Power plants in Russia have already begun selling excess capacity to Bitcoin miners. According to a local news outlet Daily Storm, the country’s largest energy providers Gazprom and EuroSibEnergo are currently “in talks” with “tens” of miners looking to take advantage of cheap electricity prices.

Why it matters: Russia is not liking Chinese dominance in Bitcoin mining market. So much so that a business co-owned by the Kremlin’s Internet ombudsman is seeking to raise around $100 mln to rival Chinese miners and set up new mining rig in Russia.

3. A Reddit thread explains how to find Assets before they become popular

A user going by the username “BTC2018” tries to answer questions like: “Where do you get your information from?”, “How do you discover assets before they are popular?”

He/She explains when investing, research is the #1 key to becoming reliably right. For instance:

1. Research would have let you known that Ripple (XRP) was working with major banks in Asia (Japan) while the asset was only half a cent. ($0.005)

2. Research would have informed you of the Ethereum Alliance while ETH was $20 or less

3. Research tells you “JPMorgan Chase To Integrate Zcash Technology To Its Enterprise Blockchain Platform.” (You’d also know that original Zcoin team left to create Zcash)

Full thread can be read here.