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Newsflash: Bitcoin Price Plummets Near $11,000 in 2018-Low

Newsflash: Bitcoin Price Plummets Near $11,000  in 2018-Low


Bitcoin price dropped to a 2018-low during Tuesday’s morning trading (GMT), losing over $2,300 (Bitfinex) in a 17% fall in just under 3 hours.

Dampened by regulatory scrutiny in Korea, home to one of the world’s biggest crypto markets, bitcoin and other cryptocurrencies continued their descent today. After opening Tuesday’s trading near $13,500 on USD-based Bitfinex, bitcoin price settled at $13,200 at 07:00 (GMT) before a collapse that led the world’s first cryptocurrency drop to a low of $10,891 near 10:00 AM.

At the time of publishing, bitcoin price is showing signs of a recovery in trading near $12,000.



Coinciding with Korea’s regulatory squeeze, multiple reports today have also pointed to a senior Chinese central bank official proposing a wider ban on cryptocurrency trading that would extend to both domestic and offshore trading platforms. The call for a ban includes cryptocurrency services such as mobile wallet apps and clearing and settlement providers in an effort to censor Chinese citizens from trading in cryptocurrencies.

Negating a momentary flash crash on December 23, today’s low is closer to bitcoin’s trading value in the first week of December when the cryptocurrency rode a wave of momentum to hit an all-time high near $20,000, nearly a month ago to the day.



At the time, markets were buoyed by the impending launch of bitcoin futures contracts by Chicago-based operators CBOE and the CME Group – signaling a trend of anticipation of Wall Street whales to get into the cryptocurrency ecosystem.

Bitcoin’s drop mirrors wider losses across the cryptocurrency market with nearly $147 billion wiped off since the turn of the day.


Newsflash: Bitcoin Price Plummets Near $11,000 in 2018-Low

https://248qms3nhmvl15d4ne1i4pxl-wpengine.netdna-ssl.com/wp-content/uploads/2018/01/BTC-01162.jpg

Newsflash: Bitcoin Price Plummets Near $11,000  in 2018-Low


Bitcoin price dropped to a 2018-low during Tuesday’s morning trading (GMT), losing over $2,300 (Bitfinex) in a 17% fall in just under 3 hours.

Dampened by regulatory scrutiny in Korea, home to one of the world’s biggest crypto markets, bitcoin and other cryptocurrencies continued their descent today. After opening Tuesday’s trading near $13,500 on USD-based Bitfinex, bitcoin price settled at $13,200 at 07:00 (GMT) before a collapse that led the world’s first cryptocurrency drop to a low of $10,891 near 10:00 AM.

At the time of publishing, bitcoin price is showing signs of a recovery in trading near $12,000.



Coinciding with Korea’s regulatory squeeze, multiple reports today have also pointed to a senior Chinese central bank official proposing a wider ban on cryptocurrency trading that would extend to both domestic and offshore trading platforms. The call for a ban includes cryptocurrency services such as mobile wallet apps and clearing and settlement providers in an effort to censor Chinese citizens from trading in cryptocurrencies.

Negating a momentary flash crash on December 23, today’s low is closer to bitcoin’s trading value in the first week of December when the cryptocurrency rode a wave of momentum to hit an all-time high near $20,000, nearly a month ago to the day.



At the time, markets were buoyed by the impending launch of bitcoin futures contracts by Chicago-based operators CBOE and the CME Group – signaling a trend of anticipation of Wall Street whales to get into the cryptocurrency ecosystem.

Bitcoin’s drop mirrors wider losses across the cryptocurrency market with nearly $147 billion wiped off since the turn of the day.




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Comments

  1. pslvseo a89 December 2018 at 22:50

    Bitcoin News
    This is arguably the largest resource for all things bitcoin. The news sections cover the latest insights from the best writers in the fintech sector. In addition to this, the site is filled with numerous tools that help investors make informed decisions. What I like about the convenience of finding all you need in the same platform.

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  2. pslvseo a112 December 2018 at 03:08

    Bitcoin News
    This is arguably the largest resource for all things bitcoin. The news sections cover the latest insights from the best writers in the fintech sector. In addition to this, the site is filled with numerous tools that help investors make informed decisions. What I like about the convenience of finding all you need in the same platform.

    ReplyDelete
  3. pslvseo a113 December 2018 at 01:45

    Bitcoin News
    This is arguably the largest resource for all things bitcoin. The news sections cover the latest insights from the best writers in the fintech sector. In addition to this, the site is filled with numerous tools that help investors make informed decisions. What I like about the convenience of finding all you need in the same platform.

    ReplyDelete
  4. Unknown13 December 2018 at 02:59

    CoinDesk
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  5. pslvseo a114 December 2018 at 03:54

    Bitcoin News
    This is arguably the largest resource for all things bitcoin. The news sections cover the latest insights from the best writers in the fintech sector. In addition to this, the site is filled with numerous tools that help investors make informed decisions. What I like about the convenience of finding all you need in the same platform.

    ReplyDelete
  6. pslvseo a114 December 2018 at 23:07

    Bitcoin News
    This is arguably the largest resource for all things bitcoin. The news sections cover the latest insights from the best writers in the fintech sector. In addition to this, the site is filled with numerous tools that help investors make informed decisions. What I like about the convenience of finding all you need in the same platform.

    ReplyDelete
  7. Unknown15 December 2018 at 03:06

    CoinDesk
    This is one of the top new sources for bitcoin enthusiasts. In fact, it is the largest bitcoin news media platform in the world. The site is packed with reports and tools that break down the trends and patterns in cryptocurrency. I recommend checking out the reports on the research page.

    ReplyDelete
  8. pslvseo a818 December 2018 at 01:18

    Bitcoin News
    This is arguably the largest resource for all things bitcoin. The news sections cover the latest insights from the best writers in the fintech sector. In addition to this, the site is filled with numerous tools that help investors make informed decisions. What I like about the convenience of finding all you need in the same platform.

    ReplyDelete
  9. pslvseo a924 January 2019 at 01:19

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  10. pslvseo a110 March 2019 at 22:55

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