Bitcoin tops £5,000 in value

  • Image copyright – Getty Images – – – – – Image caption – – For the first time ever, Bitcoin has hit £5,000 in value – – – – The price of Bitcoin has surpassed £5,000 per coin – a new record.While it is a historic moment of sorts, Bitcoin…
  • Its value was lower than $100 in June 2013, and below $1,000 as recently as January.But in August, the virtual currency soared to $3,451 after a spin-off – Bitcoin Cash – failed to prove as disruptive as had been feared.And in September, Bitcoin crossed the $5,000 threshold for the first…
  • “It’s been a very innovative year – there have been a lot of new technology platforms for cryptocurrencies, which have lifted Bitcoin,” Garrick Hileman a research fellow at University of Cambridge told the BBC.
  • “Coinbase – a business that lets the public trade and store digital currencies – reports that it is now signing up between 35,000 to 50,000 new users per day.Mr Hileman said that many people had recently been attracted to invest in Bitcoin because when a “fork” happened in August, investors…
  • “Rising geopolitical tensions on the Korean Peninsula are also driving interest in Bitcoin in the surrounding countries, because people are wary of investing in the yen or the dollar,” Mr Hileman added.However, he continued, government regulators may crack down on cryptocurrencies, which could drive prices back down.

The price of Bitcoin has finally surpassed the £5,000 mark and set a new record.
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South Korea bans all new cryptocurrency sales

South Korea bans all new cryptocurrency sales - CNBC  #Crypto #BitCoin

  • South Korea’s financial regulator on Friday said it will ban raising money through all forms of virtual currencies, a move that follows similar restrictions in China on initial coin offerings.
  • The Financial Services Commission said all kinds of initial coin offerings (ICO) will be banned as trading of virtual currencies needs to be tightly controlled and monitored.
  • It added Friday’s announcement doesn’t mean the government is accepting trading of virtual currencies as part of its financial system, and will continue to monitor markets to see additional regulations are needed.

South Korea’s financial regulator said the trading of virtual currencies needed to be tightly controlled.
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Bitcoin falls 10% as China plans to investigate exchanges

Bitcoin falls 5% as China plans to investigate firms

  • Last week, the People’s Bank of China met with three of the country’s largest bitcoin exchanges to talk about market regulations.
  • Bitcoin falls 10% as China plans to investigate exchanges
  • Bitcoin had been steadily rallying through 2016 and appreciated to more than $1,100 on January 5th, near to its record high, but the digital currency subsequently crashed, dropping back to the $900 level.
  • The price of bitcoin fell by around 10 percent after Chinese authorities announced plans to inspect bitcoin enterprises.
  • “The intentions of the Chinese state are clearer and it looks like they’re trying to bring the Chinese bitcoin exchanges to heel – whether they are looking to make an example is to be seen.”

The price of bitcoin fell by around 10 percent after Chinese authorities announced plans to inspect bitcoin exchanges.
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