losangelesnewstoday.com
losangelesnewstoday.com February 25, 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.



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