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Bitcoin This Week: Facebook Appoints Blockchain Director, Huobi Opens Business In The US And More

Bitcoin This Week: Facebook Appoints Blockchain Director, Huobi Opens Business In The US And More Subscribe: http://bit.ly/CryptoCoinNewsYT Facebook Appoints New Blockchain Director You could be forgiven for thinking that Facebook is anti-blockchain. After all, the social media giant outlawed crypto advertising - for a few months anyway - and still forbids ICOs from advertising to the platform’s two billion users. When Facebook CEO Mark Zuckerberg announced that he was investigating blockchain technology back in January, there was understandable skepticism. Bitmain Mines Strikes Gold On A Grand Scale One reason why Facebook might be keeping its options open on blockchain is the huge amount of capital that has flooded into the crypto space in recent years. Now Bitmain, one of the world’s largest and most profitable Bitcoin mining operations, has reportedly been valued at $12 billion. The company, which dominates the market for Bitcoin mining equipment, is privately owned, although it may soon follow the lead of its closest competitor Cannan Creative, in launching an IPO. Huobi’s US Partner Opens For Business Another Chinese giant was active this week. Huobi’s US partner company HBUS, is now taking registrations for its American operations. Investors from most of the US will be able to deposit their coins and trading is expected to commence on the 10th of July, with coin pairings to be announced on the day. Tom Lee Shares Another Bitcoin Price Prediction Bitcoin investors love nothing more than being told how many trillions of dollars the currency will be worth in the years to come. There was a slight sense of anticlimax last week therefore, when Tom Lee, a notorious Wall Street based Bitcoin bull, said he foresaw the currency scaling $22,000 by the end of the year. Although this would be a 380% increase on Bitcoin’s current position, commentators were quick to pounce on the fact that Lee had previously predicted that Bitcoin would trade for $25,000 by the year’s end. Bitcoin Consolidation Looking More Secure Bitcoin was safely in the green on Sunday after a week in which it successfully held onto gains made at the end of June, rising $600 in value over the week. Opening at $6300 on Monday, Bitcoin was trending upwards by Tuesday with a high of $6650. Steady progress was through the middle of the week, when it reached $6700 on Wednesday. Through the following days, it remained steady and by Sunday, had jumped to $6856, closing the week at its highest mark in a few weeks now. Let’s hope charts stay in the green for a bit longer. Read more on: https://cryptocoin.news/videos/bitcoi...