Market Update 4.29.18 – Warren Buffet Says Buying Bitcoin Is Not Investing

| Publish date: 04/29/2018
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Warren Buffet Says Buying Bitcoin Is Not Investing

The man known as the Oracle of Omaha, the CEO of Berkshire Hathaway and one of the greatest investors of all time, Warren Buffet claimed that buying Bitcoin was not investing.

According to him, buying something like a home or a farm or an interest in a business was investing. However, buying Bitcoin was not an investment, since it didn’t really do anything – Buffet stated at all you could hope for was that the next person buying the cryptocurrency paid more than you so that you could make some money.

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Consulting Company Predicts Ethereum could reach $2,500 by end of 2018

The independent financial consulting firm that provides wealth management and investment services, the deVere Group, predicted that the price of the second most valuable cryptocurrency in the world, Ether, could touch $2,500 by the end of this year.

The firm said that due to the growing adoption of the virtual currency, and the use of smart contracts, the altcoin actually see an increase that is up to four times its current value. The CEO of the group, Nigel Green also said that further increases could be expected in 2019 and 2020.

Read the full article here.

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TrustChain Initiative Launched to Track Jewelry

IBM has partnered with five of the world’s most respected jewelry companies to trace the origins of finishes precious jewelry. This cross-industry initiative based on Blockchain technology is being developed to create transparency in an industry where counterfeiting jewelry in on the rise. Through this initiative, companies will be able to track the precious metals and stones through every stage of their supply chain till they are finished products.

The jewelry companies that are partnering in this initiative are Asahi, Richline Group, LeachGarner, Helzberg Diamonds and UL. While the first four companies are jewelry companies or suppliers, UL is an independent, 3rd party verification firm.

Find out more here.

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Total Market Cap: Apr 29

Trading volume in the crypto market jumped to $30.35 billion and its capitalization went up to $440.41 billion.

Bitcoin Price Analysis: Apr 29

The number one crypto’s price climbed 3.62% to $9453.23 in the last once day. Bitcoin’s trading volume increased to $8.84 billion and its market cap rose to $161.01 billion.

Ethereum Price Analysis: Apr 29

Ethereum’s price went up 3.12% to trade at $692.67. The altcoin’s volume of trade also increase to $2.69 billion and its market value is now $68.79 billion.

State of the Top 10 Cryptocurrencies: Apr 29

The last 24 hours have been good for the cryptocurrency market with overall market value and trading volume going up. All the top ten digital currencies also did well in the last one day. The star of the top ten list was Cardano, whose price soared by 21.94% since yesterday. The second runner up was EOS, whose price has been rising by leaps and bounds every day.

  • Bitcoin’s price gained 3.62% to $9453.23 a token, and its market capitalization rose to $161.01 billion.
  • Ethereum’s price gained 3.12% to $692.67 a token, and its market capitalization rose to $68.79 billion.
  • Ripple’s price gained 5.89% to $0.893099 a token, and its market capitalization rose to $34.96 billion.
  • Bitcoin Cash’s price gained 4.35% to $1455.69 a token, and its market capitalization rose to $24.89 billion.
  • EOS’s price gained 14.38% to $21.60 a token, and its market capitalization rose to $17.77 billion.
  • Cardano’s jumped up one place as its trading price climbed 21.94% to $0.383805 a token, and its capitalization rose to $9.95 billion.
  • Litecoin’s price gained 2.46% to $154.69 a token, and its market capitalization rose to $8.7 billion.
  • Stellar’s price gained 8.29% to $0.452588 a token, and its market capitalization rose to $8.40 billion.
  • IOTA’s price gained 1.45% to $2.09 a token, and its market capitalization rose to $5.80 billion.
  • TRON’s trading price jumped 9.42% to $0.087467 a token, and its market capitalization rose to $5.75 billion.
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