Blockchain Blog

Bitcoin News for the week of 1/11/16

Welcome to our weekly bitcoin news recap, where we cover top headlines and stories in the world of bitcoin each week. We started the week off right with exciting news from CoinDesk, PayPal, and even some encouraging words from Netflix. Trends continue to show bitcoin adoption worldwide and that bitcoin and blockchain tech are being used by people whom you may least expect. In other news, global markets were down this week including bitcoin, which hopefully should rebound in due time. Read all about this news and more, in our weekly Blockchain recap.

Time to celebrate

![Community celebration image courtesy of Pixabay](https://blog.blockchain.com/content/images/2016/01/celebrate.png)
Community celebration image courtesy of Pixabay
[CoinDesk Acquired By DCG, Announces Consensus 2016](http://www.coindesk.com/coindesk-acquired-digital-currency-group-consensus-2016/)

A special congratulations goes out to CoinDesk, who announced this week that they have been acquired by Digital Currency Group (DCG), a leader in the bitcoin and blockchain industry and one of CoinDesk’s earliest investors and supporters.

Also we learned that bitcoin entrepreneur and advocate Wences Casares was appointed to the PayPal board of directors. President and CEO of PayPal Dan Schulman said “Wences’ unique line of sight into the future of commerce is ideally aligned with PayPal’s vision of transforming the management and movement of money for people around the globe.” In other good news, blockchain smart securities trading platform Symbiot raised $7 million and the CFO of Netflix said that it would be “nice to have bitcoin, in terms of a global currency.”

Trends, regions, and tech

![Brazil Bitcoin flag image via Coinjournal](https://blog.blockchain.com/content/images/2016/01/bitcoin-brazil.png)
Brazil Bitcoin flag image via Coinjournal
[7 Emerging Trends For Bitcoin and the Blockchain](http://www.coindesk.com/emerging-trends-blockchain-bitcoin/)

In this article is information to define seven key trends that could shape the story of the bitcoin and blockchain industry in the coming months, such as blockchain apps, venture capital, and more.

Regionally we are continuing to see the emergence of bitcoin and the blockchain all over the world. Take for example in India, with regulators slowly embracing bitcoin and the country catching up on internet mobile technology, it’s creating a melting pot of users that want to get into this new digital currency that they are hearing about. In Brazil, Snapcard Co-Founder and CEO Michael Dunworth met with government officials and was surprised at how much they knew about bitcoin and blockchain technology, which just goes to show how far reaching this technology has come.

Market downturn

![Bitcoin markets price via markets.blockchain.info ](https://blog.blockchain.com/content/images/2016/01/bitcoin-price-jan-15-2016.png)
Bitcoin markets price via markets.blockchain.info
[The price of bitcoin takes its first dip of 2016](https://markets.blockchain.info/)

In the first big price movement of the year, the price of bitcoin had a large correction from a steady growth phase the past year, where it dropped significantly this week as shown in the chart above from the Blockchain Markets page.

It’s always impossible to pinpoint price movements, as the market can change for many number of reasons. However, the past week some some significant drama played out in the development community documented in this NYT article. As always though, it’s good to keep in mind that bitcoin is resilient, and so are it’s community of companies, contributors, supporters, network, and every person that is part of it. There are different solutions which are being presented to tackle these issues, so like many times in the past, we will more than likely see this price correct in the future.

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