Bitcoin price LIVE: BTC breaches $7k for the first time in 20 days | City & Business | Finance


Good morning and welcome to our rolling coverage of all things cryptocurrency, including price, regulation, innovation and financial crime.

The cryptocurrency market appears to be in a bullrush, as Bitcoin prices soar past $7k for the first time in 20 days. 

Bitcoin increased a further 2.06 percent to trade for $7,067.51 as of 7am this morning.

Ethereum jumped 2.56 percent to trade for $293.20.

Ripple increased by 1.70 percent to trade for $0.346692.

Litecoin rose 2.99 percent to trade for $62.04.

A steady improvement in recent charts has boosted investor confidence going into the latter stages of 2018, where crypto-experts predict a significant boost in price. 

All timings are in British Standard Time.

9.35am UPDATE: Bitcoin traders resort to storing passwords in their DNA

Bitcoin traders can now store their bitwallet passwords inside microtubes of DNA, thanks to the efforts of start-up company Carverr.

The company is a unique and extreme insurance policy for the risky world of cryptocurrency — and one that incorporates a new area of genetics research: using synthetic DNA as a way to store data.

Scientists can store anything in DNA, be it a Word doc, an animated GIF, an operating system.

And while it seems outlandish, it could become a legitimate alternative as traders struggle to find places to store their ever-growing collection of data.

8am UPDATE: 18 percent of US students own a cryptocurrency, survey says

It turns out more students are buying into the market, by almost twice the US average, according to a new survey. 

Of 675 students asked by Coinable in partnership with Qriously, 18 percent of students say they own digital tokens, while a quarter say they would definitely take a cryptocurrency or blockchain-centric course. 

David Yermack, the finance department chair at New York University Stern School of Business, said that such courses will “greatly benefit” students. Yermack has seen almost six times increase in the number of enrolled students in his course on blockchain, over the past four years, the report said.

According to him, the reason for such an increase is that: “A process is well underway that will lead to the migration of most financial data to blockchain-based organisations.

“Students will benefit greatly by studying this area.”

7am UPDATE: Jared Tate, founder of Digibyte Blockchain: “Blockchain is a paradigm shift in the architecture of the internet”

In the latest episode of the show Financial Fox, Mr Tate, founder of Digibyte, talked to PR Crypto expert Stefania Barbaglio about the revolutionising power of decentralised networks.

During a 15-minute exclusive interview, Mr Tate highlighted the importance of cybersecurity in the era of blockchain and emphasised the role of communities in creating a global cryptocurrency.

Unlike the majority of cryptocurrencies, Digibyte was a product of a ‘grassroots movement’, as Mr Tate defines it, with no pre-mining or ICO, growing organically through community engagement.

Mr Tate expressed a level of scepticism and concern about the current hype around ICOs. He believes that the ICO market can be overestimated at the times, with many coins failing to succeed. However, the coins which do survive are more user-friendly and have greater ability to develop and scale – like Digibyte.

Mr Tate believes the world is on the verge of a new internet structure that it is made possible because of decentralised networks: “Blockchain is a worldwide phenomenon. We’re at a point where everyone has realised that this technology is not going away, it is a paradigm shift in computer science and the architecture of the internet. “

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