A champion is afraid of losing. Everyone else is afraid of winning. —Billie Jean King |
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14th August 2017 | SHARE THIS | ||
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The Story | |||
Bitcoin maintains its winning streak as the digital currency reached above the $4,000 mark—an all-time high—over the weekend. |
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Experts point to Asia as the reason behind the bitcoin price's surge. |
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Panos Mourdoukoutas, professor and chair of the Department of Economics at LIU Post in New York, said that the prospect of war between South Korea and China and the boiling tensions in South China Sea have hit the demand for the currencies of the countries involved. |
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So it is better to have bitcoin now than the won, yuan, and yen? |
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That's what Mourdoukoutas thought. In his Forbes post, the expert said: “Simply put, when the first missile flies, either intentionally or accidentally, investors would rather hold bitcoin than any regional currency”. |
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East Asian countries currently hold the majority of the global trade volume in bitcoin. |
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Japan currently accounted for close to 46 percent of global trade volume, while trading in Chinese yuan and South Korean won accounted for 12 percent each. On the other hand, bitcoin trading in U.S. dollar accounted for 25 percent. |
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The digital currency is still reeling from reaching $3,000 for the first time. |
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The weekend's surge in price comes fresh off the heels of the blockchain fork event which produced the new cryptocurrency called Bitcoin Cash last August 1. The creation of the Bitcoin Cash was the culmination of the years-.long scaling debate within the bitcoin community. |
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Takeaway |
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With the threat of war between South Korea and China, investors are holding on to their digital currency-and they might just tighten their grip further as there is no indication that the situation might stabilize anytime soon. |
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Angelo Dalli: Online lottery is a sleeping giant |
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In this interview with Becky Liggero, Angelo Dalli of Lotto Hero shares innovations in the lottery industry. |
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Philippines dodges further scrutiny with casino laundering inclusion |
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The signing of the casino bill into law by President Rodrigo Duterte has pushed the Philippines off the list of countries that could have been subjected to further scrutiny and possible sanctions by the Asia Pacific Group on Money Laundering. |
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Crown's Jason O'Connor, 4 staffers to walk out of Chinese jail | |||
Crown Resorts official Jason O'Connor and four other staffers will be released from prison 10 months after they were jailed for promoting gambling in mainland China. |
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PokerStars return to Sochi and bring the PCA brand out of retirement | |||
PokerStars is set to return to Sochi in Russia first in September to host a $9m GTD Festival, culminating in a $5m GTD $5,300 Main Event and a PokerStars festival on October 16 to 22. |
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Finland-based company Rovio Entertainment Oy, which made the hugely popular Angry Birds game and movie, is planning an initial public offering as early as next month. The IPO will place the company's value at about $2 billion. |
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To drive more traffic to your site, check your page's SEO. Your site code must be easy for search engines to read, and delivers the information you want. |
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Pragmatic play live in Denmark with Vera&John |
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Danish gamblers can now enjoy games from Malta-based provider Pragmatic Play after securing regulatory approval. |
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High five to Nick Schulman, Anatoly Filatov and Sean Yu for scoring wins at the Seminole Hard Rock Poker Open, German Poker Championships, and the World Series of Poker Global Casino Championships, respectively! |
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