Wall Street bank BofA Merrill Lynch has included bitcoin in the study and published its first research report

The Bank of America Merrill Lynch, the Wall Street bank, included bitcoin in the study and published its first research report. According to current supply, the fair value of 1 Bitcoin is about $1300. Enhanced regulation, continued wait-and-see, encouragement has been in the virtual network world

BofA Merrill Lynch, the Wall Street bank, included bitcoin in the study and published its first research report. According to current supply, the fair value of 1 Bitcoin is about $1300.

strengthen supervision, continue to wait and see, give encouragement ... Bitcoin, which has been in the virtual world of cyberspace, has recently aroused great concern worldwide. In just a few days, Bitcoin in different countries have been treated differently, "ice fire double days" treatment so that the price of Bitcoin also violently shocks.

Little Friends of Bitcoin.

Collective plunge

China's central bank and other five ministries a paper "on the prevention of bitcoin risk notice", the hot to send a hot bit of bitcoin to the cusp. Subsequently, in Friday, Baidu announced that it would stop accepting Bitcoin as a form of payment. Baidu issued a statement said: "Baidu website acceleration platform decided to stop accepting Bitcoin payments, because the recent changes in the value of Bitcoin so that it can not protect the interests of users. ”

This October, Baidu's website security accelerated platform Baidu accelerated music announced the acceptance of Bitcoin to pay. At that time, the market people generally believe that the introduction of the Baidu acceleration le bitcoin payment will become the 2013 Bitcoin in China's rapid development of the fuse.

At present, China has become the largest Bitcoin trading market, in the currency of the recent transaction price factors, the Chinese market has become an important determinant, which makes Baidu's decision on the impact of the price of Bitcoin is unusually obvious. After Baidu announced the relevant decision, the price of bitcoin has fallen more than 20% to 5000 yuan from the day's peak. By 7th, the coin reappeared a cliff-type decline, and fell to about 3800 yuan. Yesterday, bitcoin in the domestic related trading platform to show the price of about 4900 yuan.

Overseas Bitcoin trading prices have also seen sharp fluctuations. The price of Bitcoin has fallen from $1200 trillion in Thursday to around $780, according to a Mt.Gox dollar quote. It is noteworthy that Baidu's decision has also let a variety of electronic virtual currency prices collectively plunged, including prime currency (Primecoin) and the United States and the megacoin, including the electronic virtual currency in the last Friday, a one-day decline in more than 20%.

Wall Street Release

First Bitcoin research Report

Bitcoin has been splashed "cold water" in China, but it has won more and more recognition in the US. A US man recently bought a Tesla Model S electric car in a California Lamborghini dealership with Bitcoin, the first time the company accepted Bitcoin payments. It is reported that the U.S. man with a 103,000 dollar equivalent of bitcoin to buy a Tesla Model S electric car, according to the current Bitcoin trading price equivalent to 91.4 bitcoin.

Not only that, but Wall Street investment banks are also taking Bitcoin seriously, and BofA Merrill Lynch has announced the formal inclusion of Bitcoin in the research area and published its first research report. The investment bank estimates that the fair value of 1 Bitcoin is about $1300 in current supply terms. The Bank of America Merrill Lynch believes bitcoin could become an important form of e-commerce payment and a powerful competitor for traditional money-trading providers. As a medium of exchange, Bitcoin has a definite growth potential. However, Bitcoin still has some drawbacks, including the instability of value and the vulnerability of the exchange process. In addition, the report by Citigroup analyst England said that Bitcoin could be a supplement to the gold reserve.

"If people start to use bitcoin widely, then bitcoin will be written into history as a dollar terminator," said Ron Paul, former Republican presidential candidate and Texas senator.

The next stop to Bitcoin: India?

The global "bit-currency fever" continues, with China and the US treating bitcoin differently, and India continues to stand idly by as the government hopes to develop the rules of the bitcoin industry.

The Forbes website argues that the Indian government's recent move to reduce currency exchange rates and loosen foreign exchange controls has stimulated a chance to put Bitcoin into practical use, and that India is becoming the next booming Bitcoin market, as the country's enthusiasm for using bitcoin is rising. It is reported that in northern India, a hair salon in Chandigarh is India's first formal acceptance of Bitcoin shops, has now accepted the use of virtual money to pay a simple haircut service, more local Bitcoin players through the use of Bitcoin to circumvent the Indian government's capital controls.

According to previous arrangements, the global Bitcoin conference will be held on December 14 in India's "Silicon Valley" Bangalore, which will focus on the future challenges and opportunities of the Bitcoin industry.