Sunday, 18 August 2019

Bitcoin price: $44bn wiped from its value in January 2018

The price of bitcoin has fallen to its lowest yet this year as its losses for January totted up to $44bn.
The cryptocurrency fell below $10,000 overnight bookending a month where its value fell by 30 per cent, Bloomberg cakculates.

Bitcoin had been closing in on $20,000 before Christmas but has since fallen with a wave of regulatory attention tempering the recent boom.

Authorities in South Korea this week introduced new rules banning anonymous use of bitcoin exchanges but insisted that it would not go so far as to ban them completely.

Bitcoin also took a hit after a major hack of a large exchange in Japan. Coincheck said it would reimburse users affected by the $534m (£380m) theft which authorities in the country are investigating.

Meanwhile, India's finance minister today said it would crackdown on the use of cryptocurrencies.

Arun Jaitley said they were being used for "financing illegitimate activities" and that it "will take all measures to eliminate" their use.

Legal disclaimer: The insight, recommendations and analysis presented here are based on corporate filings, current events, interviews, corporate press releases, and what we've learned as financial journalists. They are presented for the purposes of general information only. These may contain errors and we make no promises as to the accuracy or usefulness of the information we present. You should not make any investment decision based solely on what you read here.

Creamcoin Marketcap