Were you watching it?I was watching it all day long.Like Clark Kent ready to tear off his suit and turn into Superman, Bitcoin price was bursting at the seams to show what it could do but kept running into major resistance at about $690.Finally, the dam burst and Bitcoin conquered its temporary price barrier to reach over $700 for the first time since the first day of Summer.The reason why is the usual suspect.The China Syndrome According to Bloomberg, the Chinese yuan traded in Shanghai’s spot market, fell 1.6 percent so far this month to 6.7808 a Dollar.That’s the most since the People’s Bank of China weakened its exchange rate by 4.4 percent in three days in August 2015.As we all know, when the Yuan/Renminbi drops, China moves in on Bitcoin, and Friday was no different.Michael Every, head of financial markets research at Rabobank Group in Hong Kong, says: “We keep hearing that there’s no basis for it to decline, and it keeps declining.If they don’t want it to decline, then raise interest rates or intervene.

Otherwise, markets will decide on the value.” The U.S.Dollar strengthening over the last month was also a factor along with rumours of a Federal Reserve rate hike coming soon.What may slow this Chinese economic descent, is capital inflows based on the IMF, making the Yuan a reserve currency this month.This brought the Chinese global payments share to over 2 percent.The government is expected to step in and stop the bleeding, according to a Bloomberg survey of 21 foreign-exchange traders and analysts.The last time Bitcoin was over $700 was the first day of summer, June 20, when daily trading passed $425 mln, a record for 2016.Information on Friday’s Bitcoin trading was not available at the time of printing, but according to Blockchain.info, Wednesday’s trading set a year-to-date transactional volume mark of well over 325k Bitcoin transactions.An average day usually has between 220 to 240k transactions.It is safe to assume that Friday matched or exceeded Wednesday’s total volume to generate this new level of value.

Username * First Name Last Name Email * Password * Repeat Password * You registration completed successfully.Confirmation email sent to email address provided.Email * Password *Home USD - US Dollar 700 USD US Dollar to BTC Bitcoin 700 USD US Dollars to BTC Bitcoins You have converted 700 USD to BTC: 0,25 Bitcoins.For this operation we used International Currency Rate: 0.00036287.The result will appear with every reload of the page.You can convert US Dollars to other different currencies with the form on right sidebar.If you want to know money equivalents of 700 US Dollar in other currencies see "In other currencies".Convert currency 700 USD to BTC.How much 700 US Dollars to Bitcoin?— 0,25 Bitcoins On this chart displays history of exchange rate for USD/BTC or (US Dollar / Bitcoin) 7 days 1 month 3 month 6 month Year 925 EUR to USD 1000000 XAF to GHS 400000 ARS to MXN 325000 ARS to MXN 495 PHP to CAD 1000 USD to GBP 629 PLN to EUR 410 THB to USD 9000000 XAF to GHS 4150 RUB to PHP 1 GBP to USD 1000 NGN to GHS

Bitcoin may be nearing annual highs, but newcomer Zcash stole the show this week, generating robust momentum even before its launch.The digital currency, whose use of zero-knowledge proofs is said to offer cryptocurrency users new levels of privacy, released its blockchain and first tokens (zerocoins) on 28th October.In anticipation of the launch, nascent Zcash futures markets saw robust trading.The pairs, which traded against bitcoin prior to the release of zerocoins, rose from a low of 0.027 BTC ($18.50) on 15th September to 0.78 BTC ($535) on 28th October.gia ca bitcoinYet, this figure surged nearly 1,200% to 10 BTC ($6,864) on the day of their launch.bitcoin exchange rate spreadThis wasn't the end of its story, however.gia ca bitcoin

With a unique release schedule, speculation hit highs often unseen even in the volatile cryptocurrency sector.Zcash rose to far more impressive heights on digital currency exchange Poloniex, with the price of 1 ZEC reaching roughly 3,300 BTC (or more than $2m), on 28th October.This sharp increase gave way to equally jolting losses, as Zcash was trading at 48 BTC later in the day.Tim Enneking, chairman of Crypto Currency Fund, described the price movements as "crazy".bitcoin purchasing power"There's no way this valuation’s gonna hold," he said in reference to the lofty prices reached by Zcash futures.bitcoin mining tips tricks"This is scarcity driving the train, that’s it."litecoin gpu settingsIn spite of all the momentum surrounding Zcash, some market observers emphasized that more than one currency has enjoyed surging value before fading from relevance.bitcoin quote graph

"Like all other cryptos, Zcash will need to prove useful to a large enough market for a long enough period of time to avoid death or irrelevance," said Petar Zivkovkski, director of operations for leveraged bitcoin trading platform Whaleclub.Digital currency hedge fund manager Jacob Eliosoff took a different tack, asserting that Zcash may be slightly overhyped.In particular, he cited other blockchain communities that have focused on privacy solutions and that are already in use in the market.otizacion bitcoin"Zcash looks like it may offer slightly more thorough anonymity than Monero, but not a major difference from a user or business perspective,” he told CoinDesk.o que e bitcoin miningEliosoff emphasized that users don’t need the latest cryptocurrency so much as they need digital currencies that protect their identities and work effectively.

While Zcash grabbed the lion’s share of attention this week, bitcoin enjoyed a 9% gain as market dynamics and concerns about China’s continued devaluation of the yuan pushed prices higher.Bitcoin prices surged from $628.62 at 12:00 UTC on 21st October to $686.52 by 12:00 UTC on 28th October, CoinDesk USD Bitcoin Price Index figures reveal.At press time, bitcoin had jumped even further, rising almost 4% to a high of $713.The digital currency's upward price movement triggered many short squeezes "across leveraged trading platforms," said Zivkovkski, though others suggested the renewed momentum may amount to more of a comeback after weeks of sideways trading.Whaleclub data indicates that during the week through 12:00 UTC, the market was more than 90% long on all but one day.The cryptocurrency might enjoy further gains as traders shift their focus away from altcoins, said Eliosoff.He emphasized that bitcoin has both recovered from the Bitfinex hack and approached $700.Now, "investors have begun to take profit on various altcoins and focus on the king crypto."

Both ethereum (ETH) and its alternative blockchain ethereum classic (ETC) suffered weekly losses as the two currencies seem clouded by uncertainty.The former dropped 6% week-over-week amid sustained denial-of-service attacks, and the latter dropped 4.6% as the ethereum classic blockchain executed a hard fork to stop the same issues."The hard fork as well as turmoil and DDoS attacks on the ethereum network have impacted prices negatively," said Zivkovski."ETH and ETC are going through an identity crisis: of what use will they be in a future powered by digital currencies?"Enneking also weighed in on the future relevance of the two currencies, though he stated that the price declines were an obvious side effect of the more immediate technical issues."When ethereum is being attacked repeatedly, that doesn’t look good in the eyes of consumers," he quipped.The leader in blockchain news, CoinDesk is an independent media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies.