Determining Bitcoin’s (BTC) value can be more complicated than simply looking at its current market price. “Most Bitcoins already cost at least $100,000, but probably more like $10 million,” said Michael Goldstein, also known as Bitstein, in an Aug. 17 tweet. While Bitcoin sits around $12,000 at press time, many folks in the crypto industry likely value the asset at a much higher price tag. If someone buys a BTC at $10,000, but is unwilling to sell it until the asset reaches $100,000, then the price tag of that Bitcoin…
Day: August 18, 2020
More Than 12,500 People Have Entered ByBit’s Million-Dollar Trading Competition
Popular crypto futures trading platform Bybit is currently hosting thousands of participants for its World Series of Trading, or WSOT, competition. With roughly 12 days left before the competition concludes, 12,368 participants currently pursue 200 Bitcoin (BTC) in prize money, valued around $2.4 million, data from the exchange’s WSOT page shows. Bybit unveiled its WSOT at the end of July, noting the event will occur twice per year going forward. On Aug. 10. traders threw their hats in the ring, seeking to secure the best profit/loss ratio, or P&L, prior to…