Blockchain and Bitcoin Smash Records

Bitcoin

History was made today, by both Bitcoin and its foundational technology blockchain, as the cryptocurrency prices hit an all-time high and Wall Street successfully completed their new blockchain integrations.

Bloomberg was first to report this morning that the group of main banks, including Credit Suisse, JPMorgan, and Goldman Sachs saw their blockchain trial of six months with equity swaps have 100 percent success.

The group was partnered with the startup Axoni, the foundational technology used allowed the changes in swaps to happen instantaneously and made them immediately visible. It is now on the direct path of being taken mainstream and that is great news.

Greg Schvey, Axoni’s CEO, said in an interview, “We’re on a path to take this forward, we know the thing works now.”

The successful move by the group is phenomenal given the vastly doubtful position towards cryptocurrency by some of the participants. With many industries and countries adopting this technology such as the United States Border Patrol and many sectors throughout Russia, it’s making it difficult for Bitcoin to keep up with it.

Regardless, Bitcoin is stronger than ever, reaching all-time record highs this morning around $8350 making a complete turnaround from last week’s lows.

Despite the turmoil at Tether, with close to $31 million worth of Bitcoin stolen on a hack, the markets haven’t deflated one bit.

The 25+ year Wall Street investor vet, Mike Novogratz, recently told Bloomberg TV that he predicts Bitcoin finishing 2017 at a $10,000 price and Ethereum at $500.

Featured Image: Depositphotos/© denisismagilov

Chelsea Roh is a freelance content writer living in Vancouver, BC. Her current focus is cryptocurrency, financial analysis and blockchain technology. In addition to content writing, she is an experienced Social Media Manager/Strategist. Before moving to Canada, she spent 10+ years marketing and working hands on in the medical practice industry.