As Bitcoin’s Slide Continues, Prices Look Towards $8K

Bitcoin looks like it might soon test near-$8,000 levels, as December’s record-breaking rally continues to unravel. With major losses over the last few days seemingly brought about by negative regulatory news from China and South Korea, bitcoin (BTC) is trading at $10,280 levels at time of writing, according to Coindesk’s Bitcoin Price Index. A slight recovery from the 1.5-month low of $10,064 hit yesterday ran out of steam at $11,698 at 00:20 UTC today, and price once more started to drop. The cryptocurrency has depreciated by 14.35 percent in the…

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Bitcoin Eyes Consolidation as Price Flirts with $14K

Bitcoin’s price is back around $14,000 and is eyeing a short phase of rangebound trading. Despite yesterday’s bearish price action, the sell-off in the world’s largest cryptocurrency by market capitalization seems to have come to a halt today. As per Coindesk’s Bitcoin Price Index (BPI), bitcoin (BTC) found takers at $12,878.60 (price at 00:44 GMT) and moved to an intraday high of $13,773.34. Soon before press time, prices were at $14,090 levels – that’s up around 9.4 percent from the 12-day low of $12,878. The sharp recovery indicates the markets…

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Bitcoin Faces Bearish Move as Prices Drop Towards $15K

Bitcoin is looking weak today after prices failed to hold above $17,000 levels at the weekend. Coindesk’s Bitcoin Price Index (BPI) fell to a low of $15,253 earlier today and was last seen trading at $15,345 levels. According to data source OnChainFX, bitcoin (BTC) has depreciated by 8.86 percent in the last 24 hours. Notably, fears of a China crackdown on bitcoin mining may have weakened the bid tone around the world’s largest cryptocurrency by market capitalization. Caixin Global reported last week that local regulators in China may not longer offer…

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Off the Leash? Bitcoin Looks North After Breaking $16K

Bitcoin is gaining altitude today, amid a sharp drop in prices of some alternative currencies. Prices on CoinDesk’s Bitcoin Price Index jumped 7 percent to an intraday high of $16,181 in the last two hours. The cryptocurrency has appreciated by 10 percent in the last 24 hours, according to data source CoinMarketCap. Meanwhile, Ripple’s XRP token has depreciated by 9 percent in the last 24 hours, having soared to new heights on Jan. 3. Other alternative currencies like NEM (XEM), Cardano (ADA) and Stellar (STR) are down at least 12…

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Ripple Fever? Other Crypto Assets Are Outpacing Its 2018 Gains

So-called alternative cryptocurrencies are making their presence felt in the first week of 2018, recording impressive gains that are drawing investors to options once considered risky. Bitcoin, the world’s largest cryptocurrency by market capitalization, rallied 1,900 percent last year. But, as prices neared the $20,000 mark in December, the relatively cheap “small cap” coins began to rise. With gains due, in part at least, to the rotation of money out of an overbought bitcoin, the broader cryptocurrency rally seems to have gathered pace in 2018. With 66 percent appreciation so…

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2017: The Year Crypto Became a New Asset Class

Hunter Horsley is the co-founder and CEO of Bitwise Asset Management, a cryptocurrency specialist asset manager which launched the first cryptocurrency index fund earlier this year.  The following article is an exclusive contribution to CoinDesk’s 2017 in Review. 2017 has been a watershed year for crypto assets. The combined market cap rocketed from $15 billion in January to over $600 billion by year’s end. And in doing so, crypto assets crossed another kind of threshold, transforming from something easily dismissed to something hard to ignore. The multiple-thousand percent price appreciation has…

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South Korean Government Concerned With Scams in Bitcoin Market, Fake Exchanges

The South Korean government and local financial authorities have warned investors about the emergence of fake cryptocurrency and Bitcoin exchanges. Fraudulent exchanges On Dec. 13, the South Korean government and its cryptocurrency task force formed by the Ministry of Strategy and Finance, Financial Services Commission, Ministry of Justice, Fair Trade Commission and Financial Supervisory Commission held an emergency meeting to discuss the state of the South Korean cryptocurrency market and draft regulations for both businesses and investors. Two of the four regulations drafted by the South Korean government during the…

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BitPay Stops Processing Payments Less Than $100, Backpedals Two Days Later

Bitcoin payment service provider BitPay has announced Friday, Dec. 22, that it is updating the minimum payment amount on its platform from $5 to $100, only to retract the change two days later, as reported in a blog post on Sunday. BitPay has shared an update Dec. 22, notifying its users that the platform will no longer process invoices that are less than $100 equivalent in Bitcoin, a vast increase over the previous limit of $5. The company cited unprecedented Bitcoin transaction volume and the resulting record-high network congestion and…

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2017 Was Wild Ride, Eventful 2018 Seems Likely

The festive season is in full swing and those who celebrate Christmas have enjoyed turkey dinners, presents under the tree and long Christmas specials on TV. But for many of us involved in the world of cryptocurrencies, this has been one Christmas Special we will never forget. November was an extraordinary month, as Bitcoinsmashed barrier after barrier on its way to the $11,000 mark. Despite multiple corrections, time after time, the virtual currency bounced back from volatile swings in price. Some called it a bubble, others said is was just…

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Israel Government Considering National Cryptocurrency

Following in the footsteps of Russia and Dubai, Israel is considering offering a national cryptocurrency – a digital shekel – which would correspond in value to physical shekels. According to the sources close to the Finance Ministry, Israel’s black market is approximately 22 percent of the country’s gross domestic product. A digital currency, registered with the government of Israel, would make black market transactions less possible. Additionally, per the news source, the government is considering legislation that would substantially reduce the amount of physical cash in the economy. For example,…

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