Bitcoin and Ethereum: new heights

BTC and ETH showed new price heights on the background of upcoming big events
13 October 2017   3060

Bitcoin price

Today, October 13, the rate of the Bitcoin confidently surpassed the level of $ 5500 and fixed a historic high at the mark of $ 5920 (Bitfinex exchange):

Bitfinex
Bitfinex Bitcoin Chart

On the hourly chart, a correction of the price with consolidation around $ 5550 is clearly visible.

As for other popular stock exchanges, such as Poloniex and Bitstamp, then on these trading floors the price did not reach such high values. The maximum bitcoin was slightly lower, near $ 5,800.

Thus, the price set the resistance level at $ 5800-5900. A strong support level is in the region of $ 4800-5200.

The current rise in the price of the first crypto currency is largely due to the approaching probable hardfoot Segwit2x. It is possible that investors are buying bitcoin in the hope of obtaining an equivalent amount of "alternative bitcoin," as it was in August this year.

Another important factor in price growth is the gradual growth of SegWit-transactions in the bitcoin network:

SegWit Charts
SegWit Charts

The graph shows that the share of SegWit-transactions in the bitcoin network already exceeds 10%.

According to the Coinmarketcap service, the current value of bitcoin capitalization is $ 95B. The aggregate capitalization of the crypto-currency market is $ 169.8 billion.

Ethereum price

Etherum gained more than 6% in last 24 hours, showing the rapid price rise. 

Ethereum Charts
Ethereum Charts

At the moment, average Ethereum price is $325.48 with historic maximum at $386.83 (was reached at Aug 31 2017). Market cap is more than $30B and 24h trading volume is almost $1B. 

Main reason of Ethereum price rise can be upcoming hardfork called Byzantium. At the moment, Byzantium launch is planned on the October 16, 2017. 

Layer1 to Receive $50M Investments

These investment helped the startup to reach $200M market value and and will be used to enter mining market
16 October 2019   111

Layer1, backed by the Digital Currency Group (DCG) raised $ 50 million from a number of well-known venture capitalists, including PayPal co-founder Peter Thiel.

According to The Block, thanks to the successful closure of the Series A financing round, the company's market value reached $ 200 million.

Initially, the company focused on supporting the ecosystem of confidential cryptocurrency Grin. However, now the San Francisco-based firm intends to focus on bitcoin mining and plans to compete with Chinese miners over time.

We expect our chips to be competitive for at least eight years now...you want to have your own chips in hand. We also have our own electricity substations: effectively that's as close you can get to owning your own power plan.
 

Alexander Liegl

CEO, Layer1

To implement this plan, the company acquired land in Texas for the construction of substations, entered into a partnership with a Beijing manufacturer of semiconductors and built its own infrastructure for cryptocurrency mining. Ligl added that Layer1 intends to become a vertically oriented company that controls every element in the mining business process chain.

The company also intends to enter the lending and crypto derivatives markets.