Bitcoin Prices Climb Overnight, Canada Cautiously Considers ICOs With OversightSeptember 18, 2017 2:00 pm
Cryptocurrency prices moved higher overnight during the Asian trading session Monday, Hacked.com reported, as positive news out of Canada, Estonia and tech giants Google and Facebook have likely eased investors’ concerns following troubling news from China last week.
Before midday, Bitcoin’s price climbed 3.82 percent to $3,802. The price surged from around $3,660 during early morning trading, the report said, and the price continued to appear higher around midday in Asia.
Ethereum’s price showed an even larger increase Monday morning, the report said, gaining more than 10 percent at one point before sliding to 8.60 percent to $279. At one point, the ethereum price surged from about $256 to $283. The digital currency has now been in an uptrend for two straight days.
The gain in bitcoin and ethereum prices on Monday morning followed extremely positive news from governments in Estonia and Canada.
In a reverse of what happened in Beijing last week – where officials banned initial coin offerings – in Estonia officials struck a positive tone toward ICOs. The Estonian government is reportedly considering raising funds through ICOs, Hack.com reported.
Meanwhile in Canada, while warning against risks, officials generally signalled bitcoins are acceptable, as they advised those who intend to issue ICOs to reach out to local securities regulators to discuss it, the report said. While the Canadian government did not explicitly spell out its support, the move could be seen as a way of allowing for the use of ICOs.
Also, some tech giants such as Microsoft, Google, Facebook, Apple and Mozilla have reportedly developed a browser interface that accepts cryptocurrencies when making purchases online, the report said.
If the companies went ahead with the interfaces, it would expand the use of cryptocurrencies and likely drive up the demand and thus prices, the report said.