Monday, 18 June, 2018

Ripple price registers over-the-top increase shaking off recent price slump

Bitcoin price jacks while Ripple topples Ripple price registers over-the-top increase shaking off recent price slump
Sammy Stanley | 19 January, 2018, 01:51

The world's most valuable cryptocurrency, bitcoin, has lost over half its value since it smashed the $20,000 barrier in mid-December. Bitcoin, which fell to a low of about $9,500 yesterday, has already gained almost $2,000 to trade near $11,500.

South Korea's justice minister said last week the ministry was preparing a bill to ban cryptocurrency trading, which sent bitcoin prices sharply lower and threw the market into turmoil.

"But because regulators have yet to do anything seismic, there is still plenty of buyers to be found - second-wave buyers who'd feared they'd missed out on the boom, choosing to enter the market at more attractive prices".

This is published unedited from the PTI feed.

Bitcoin led the fall on other cryptocurrencies, including Ethereum and Ripple, over suggestions that Russian Federation and China may crack down on trading. Likewise, Ethereum and Ripple, the next two major crypto currencies, has gained nearly 40% from the yesterday's low to trade at $1,000 and $1.37, respectively.

However, it looks like the last couple of weeks have seen a change, with Bitcoin dropping below the $10,000 mark today, a 50 percent drop following its peak just a month ago. It steadied in Asian and European trading as investors paused for breath following a frantic 24 hours in which the token swung through a $2,600 range.

Apple, Google buses attacked outdoors San Francisco
Why are the buses being attacked? "If someone was targeting the buses I'm sure they are going to find them anywhere they go". Following the incident Apple said that some of its buses were temporarily rerouted.

"We the citizens were able to have a happy dream that we had never had in South Korea thanks to cryptocurrency", the petition reads.

Just before the New Year, the Korean government said it planned to bar banks from offering anonymous Bitcoin accounts, requiring transactions to name participants.

The fall in price was linked to reports about regulation in countries such as China and South Korea. It's also put blockchain - the software technology enabling Bitcoin and other cryptocurrencies - on a trajectory of its own.

The price plunge is largely reported to have been sparked by South Korea and the increased speculation that it may soon ban domestic cryptocurrency exchanges.

Hundreds of billions have been wiped off the total market cap of cryptocurrencies this week alone. Exchanges and ICOs have already been regulated by the Chinese government, but it seems like the government is looking to abolish it as a whole.

According to data from CoinMarkCap, the third-largest cryptocurrency Ripple has dropped to $1.07, down 22.8% in the last 24 hours and down from a high of $3.80 on 4 January.

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