losangelesnewstoday.com May 23, 2018

Bitcoin Continues Rebound From Plunge Below $10000; Ethereum, Ripple Also Rally

19 January 2018, 01:55 | Katrina Lee

GETTYNEO can process transactions far more quickly than ethereum ripple and bitcoin

GETTYNEO can process transactions far more quickly than ethereum ripple and bitcoin

Although the value of Bitcoin has now picked up slightly, it's still a stark crash considering it hit its peak price of over $19,000 (£13,700) in mid-December - and has basically scratched off all the gains the cryptocurrency made.

Around 1410 GMT, bitcoin stood at United States dollars 9,807.56 to record its lowest value since December 1 and a plunge of nearly 50 percent since reaching a record high on December 18, according to data compiled by Bloomberg.

"You have more regulatory uncertainty. and because of these falls you have these other outfalls", he said, referring to the collapse of some cryptocurrencies within the recent slump in prices.

Bitcoin's gyrations in 2018 have investors, regulators and onlookers debating whether the speculative bubble has popped after a 1,400 percent ascent previous year.

The cryptocurrency market is volatile, and while Bitcoin's value fell by around 30% this week, the dip is a relatively minor occurrence compared to its long-term trend.

This is published unedited from the PTI feed.

Among Bitcoin-related stocks on the stock market today, Marathon Patent Group (MARA) soared 18%, Riot Blockchain (RIOT) rose 7% and Overstock.com (OSTK) was up 2.3%.

Ryan Zinke removes Florida from offshore drilling plan
President, I must say I've seen political games being played with trying to drill off of the coast of Florida", said U.S. Rick Scott , R - a political ally whom Trump has repeatedly urged to run for the U.S.

Regulators around the world are still debating how to address the risks posed by cryptocurrencies such as bitcoin, the world's most popular virtual currency.

The price of Bitcoin lost 16.5 percent of its value dropping to well below $10,000, plunging to as little as about $9,200, less than half from its highs a few months ago.

Astonishingly, all of the other top 10 digital currencies by market capitalisation have plummeted even further than bitcoin over the past 24 hours, according to CoinMarketCap. After the sell-off subsided, the market cap had plunged by Tuesday evening to a low of $450.5 billion.

Bitcoin has been having a very hard month. Last the cryptocurrency saw meteoric rise, going from around 800 dollars in January of 2017 to almost $20,000 in December.

Answering MP questions from the country's National Assembly in a national policy committee meeting, Choi Jong-ku, head of the Financial Services Commission (FSC), said the government was considering "both options" of either shutting down all virtual currency exchanges or the ones that are breaking the law.

All eyes are on South Korea and China for updates on proposed regulations.

Other News

Trending Now

Ford's New Shelby Packs A Serious Punch
Exterior paint choices are limited to Shadow Black and the classic Dark Highland Green - as worn in the movie. The current model of Ford Mustang Shelby GT350 boasts 526-horsepower.

Form Man City star backed to handle hostile Liverpool return
Both these teams play good attacking football so I'm expecting a decent game. Until July, when he becomes a Liverpool player for good, of course.

UGA QB Eason likely transferring to UW
Eason was a top recruit in the 2016 class, regarded as the No. 2 pro-style quarterback in the country by 247Sports. Georgia lost Monday's National Championship Game and the Bulldogs are about to lose one of their quarterbacks.

Tillerson: US troops staying put in Syria to counter Assad, Iran
Backed by Russian Federation and Iran, Assad has reasserted control over much of Syria . Tillerson praised Turkey's role in taking on Islamic State.

Eden Hazard 'agrees' to join European giants - snubs Chelsea's new contract offer
The Belgian has also admitted it would "be a dream" to play under Zidane, whom he calls an "idol". Hazard has made 18 Premier League games, scoring six goals so far this season.

Israeli PM Benjamin Netanyahu meets baby Moshe at Nariman house in Mumbai
Moshe, who landed here this morning from Israel, went to the iconic Taj hotel in Colaba, and then proceeded to Nariman House. Israel Prime Minister Benjamin Netanyahu on Thursday met top Indian CEOs at a business seminar in Mumbai .

Dates set for London games
Tottenham Hotspur and the league will split gate receipts and food, drink and merchandise sales from NFL games there. The home of English football has now hosted 18 NFL games, with nearly 1.5 million fans in attendance.

Inflation falls back for first time since June as Brexit hit wanes
Given the continued headwind posed by Brexit uncertainty, I do not see why the BoE would rush to raise rates again this year. But the statistical office says it is too early to say whether this is the beginning of a longer-term decline in inflation.

China says claims of inadequate rescue of sunken oil tanker "untrue, irresponsible"
On January 8 the bulker was escorted by a rescue vessel into Zhoushan, south of Shanghai, where it is now moored. The ship's last confirmed location was about 315 km (195 miles) west of Sokkozaki on the island of Amami Oshima.

The New 'Nintendo Labo' Will Allow Gamers To Custom Build Accessories
Nintendo recently announced Nintendo Labo , a DIY kit that allows you transform the Switch console into cardboard creations. Nintendo announced their Nintendo Labo line of cardboard building kits created to work with the Switch .