Bitcoin is now trading for just under $9,400. This is a near $200 spike from yesterday’s $9,200, which in turn, was a solid increase over bitcoin’s previous position of $8,800. The total cryptocurrency market cap has now surged beyond $420 billion, and investors are breaking out the champagne.
One of the reasons behind the jump may be the island nation of Malta. The small country has been developing a reputation of late as one of the biggest bitcoin and blockchain havens in the world, with several trading exchanges from Binance to OKEx relocating to its serene, coastal atmospheres. Malta is now introducing three new blockchain and cryptocurrency-related bills that have garnered widespread praise and attention from both the public and government figures alike, and are slated to bring newfound legitimacy to Malta’s growing blockchain environment.
The bills are designed – among other tasks – to develop a governing authority association that will potentially bring regulatory tactics to both ICOs and all future cryptocurrency exchanges. Parliament has approved the bills, and while they haven’t jumped into law territory just yet, things are looking relatively positive. We will bring you more information on this story as it develops.
Of course, the best news is that analysts are claiming the bullish trends of bitcoin and cryptocurrencies over the past few weeks are not a fluke, and if anything, should continue for some time. Finance expert Carter Worth, for example, recently spoke with CNBC about trend lines in bitcoin’s behavior that suggest “big movements.” Right now, bitcoin is still facing judgement and obstacles from banks, traditional financial institutions and government offices, which are under extreme pressure to enforce regulation.
However, Worth explained that bitcoin is showing markers of long-term growth patterns, which could potentially take it to its highest prices in the coming months:
“When you have lower highs and higher lows, it represents equilibrium, and there’s a debate. Some love this thing (bitcoin), and some think it is, of course, the greatest fraud of all time, but this is going to get resolved violently. I think there’s more to go, so if you had to be long or short, I want to go long here.”
In addition, Worth said that the same patterns are being witnessed in competing altcoins like ether and Ripple’s XRP.
Some analysts suggest an interesting argument: that women – alleged primary controllers of American wealth and household spending – could potentially send bitcoin and cryptocurrency prices “to the moon.” In a new study, it appears roughly five percent of bitcoin holders and researchers are women, while only four percent hold ether or other major altcoins.
Meltem Demirors – founder of Athena Capital – is advising all women to get involved in crypto-trades. She says that there is a lot of money simply lying around that if invested, could potentially spike bitcoin prices beyond anything witnessed in 2017.
“I feel like we’re missing out on this major opportunity to market to 51 percent of the population, to 60 percent of the wealth and to 80 percent of consumer spending,” she exclaims. “I think the question is, ‘Can we use our influence to ensure that 51 percent of the world’s population isn’t missing out on this massive wealth-creation event?’”