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BTC prices today were hovering near $9,000 per coin, and the price of Bitcoin has now climbed 26% in the last two weeks.
Investors are becoming increasingly bullish about BTC, as financial institutions like Barclays Plc. (NYSE: BCS) become more interested in entering the cryptocurrency market.
The cryptocurrency exchange Coinbase struck a deal with Barclays in March that allows the exchange to open a bank account with the financial firm. This is a positive development given that several banks have banned credit card customers from purchasing cryptocurrencies.
Here is a recap of the top five cryptocurrencies by market cap as of 2:00 p.m. EDT.
|Cryptocurrency||Market Cap||Price||Change (24h)|
|Bitcoin (BTC)||$151 Billion||$8,888.56||-0.53%|
|Ethereum (ETH)||$63 Billion||$639.21||+0.35%|
|Ripple (XRP)||$34 Billion||$0.87||-2.20%|
|Bitcoin Cash (BCH)||$23 Billion||$1,357.50||+9.57%|
Now, here's a closer look at today's Money Morning cryptocurrency insight, as well as the most important cryptocurrency update you need to know...
Money Morning Cryptocurrency Insight of the Day
The "Bitcoin Misery Index" is a buy-sell indicator created by Fundstrat Global Advisors co-founder Tom Lee.
It debuted in March, and it's been flashing a "buy" signal for weeks.
"Millionaire-Maker": A potential upgrade taking place behind the scenes could send the Bitcoin price to unprecedented highs. Few people even know about this game changer. Click here to learn how you could make millions...
Money Morning Cryptocurrency Expert David Zeiler breaks down everything you need to know about this new indicator right here.
Now, let's take a look at the top cryptocurrency stories from today, April 23.
The Top Cryptocurrency Stories for Monday (April 23)
- Goldman Sachs Group (NYSE: GS) has hired Justin Schmidt, a former senior VP at Seven Eight Capital, to help the financial firm develop a plan for cryptocurrencies. While this has generated a lot of buzz, Goldman is still denying that it is launching a trading desk for Bitcoin or other digital assets.
- Iran's central bank has sounded the alarm about Bitcoin, fraud, and money laundering. The Central Bank of Iran has banned financial institutions from utilizing cryptocurrency technology. "Virtual currencies have the option to be used for money laundering, supporting terrorism, and exchange of sums between wrongdoers," the central bank said in a statement.
- California is in the news, because the state could allow companies to store data (including information about stockholders) on a blockchain. According to CoinDesk.com, Bill 838 was introduced by Sen. Robert Hertzberg (D-CA) in January, but it's been drawing more interest in recent days. Policies like this could lead more businesses to open in California, and it could also help lead to more widespread adoption for blockchain use.
The Crypto Party Is Far from Over
Bitcoin is expected to undergo a massive upgrade - and it could kick off a price surge all the way to $100,000.
Cryptocurrency expert Michael Robinson has put together a special report on a unique strategy that could help you pocket one windfall after another not just on Bitcoin, but on all the cryptos he's following now.
To get step-by-step instructions on how you could become the next crypto millionaire, click here now...
About the Author
Garrett Baldwin is a globally recognized research economist, financial writer, and consultant with degrees from Northwestern, Johns Hopkins, Purdue, and Indiana University. He is a seasoned financial and political risk analyst, with a focus on stocks, hedge funds, private equity, blockchain, and housing policy. He has conducted risk assessment projects for clients in 27 countries, and consulted on policy and financial operations for some of the nation's largest financial institutions, including a $1.5 trillion credit fund, a $43 billion credit and auto loan giant, as well as two of the largest Wall Street banks by assets under management.
Garrett joined Money Map Press as an economist and researcher in 2011, specializing in alternative strategies with an emphasis on fundamental and technical analysis.