Bitcoin rebounds strongly after a period of silence

   Bitcoin prices rebounded sharply in the Asian session on Tuesday (November 16), breaking away from yesterday's low trading conditions.

     The quotes released by BITSTAMP showed that Bitcoin/US dollar (XBT/USD) traded in the 315-320 range yesterday. It rebounded sharply in the Asian session of this trading day, rising to a high of 340 at one point.

(Bitcoin/US dollar time-sharing chart Source: Bloomberg, FX168 Financial Network)

The quotes released by KRAKEN showed that Bitcoin/Euro (XBT/EUR) was trading sideways in the 295-300 range yesterday, and rebounded strongly in the Asian session of this trading day, rising above the 315 level at one point.

(Bitcoin/Euro time-sharing chart Source: Bloomberg, FX168 Financial Network)

     The quotes released by Huobi.com showed that Bitcoin/CNY fluctuated around the 2050 level yesterday, and soared sharply in the Asian session of this trading day, once approaching the 2165 level.

(Bitcoin/RMB 30-minute chart Source: Huobi.com )

     Jaakko Hynynen, CEO of Startup Sauna Accelerator, said that Nordic countries are ready for Bitcoin and blockchain technology. "Although the development of blockchain technology is not fast due to insufficient market research, the descendants of the Vikings have realized the huge potential behind Satoshi Nakamoto's invention, which may be able to surpass legal currency and change all aspects of life."

     Jaakko Hynynen said that Bitcoin and blockchain technology have great potential to integrate many areas of the enterprise, not just digital currency. Insurance is one of the application areas.

     He pointed out, “I believe that blockchain technology will never stop at digital currency. This system can be applied in insurance and other fields. The technology can be integrated into some large banks and insurance companies in Northern Europe. People working in this field have noticed the technology and are ready to use these innovative technologies at any time.”

     At 13:22 Beijing time on November 17, Bitcoin/USD was 334.74, Bitcoin/Euro was 314.49, and Bitcoin/CNY was 2141.64.