Bitcoin And Other Cryptocurrency Is Plunging Dramatically what is a bitcoin wallet

Worries of south korea putting limitations on cryptocurrency trading come as kay van-petersen, an analyst with saxo bank who predicted cryptocurrency’s surge in 2016, said bitcoin could hit between $50,000 and $100,000 in 2018. China is also reportedly driving out bitcoin miners, a group estimated to produce two-thirds of the world’s bitcoin supply.

Bitcoin at one point fell to a low of $11,200 today – and was on course for its biggest one day loss in over three years – but prices have recovered a little and it is now closing back in on $12,000. From monday’s high of $1.79, it lost about 25 percent before ticking up slightly.

Ethereum, meanwhile, was nearly 12% lower, changing hands just above US$1,136.

Bitcoin was on a free fall tuesday, reaching below USD12,000 for the first time since december 5, amid reports that china is stepping up crackdown on cryptocurrency exchange-like services..What is a bitcoin wallet

Still, it’s a long way before ethereum can usurp bitcoin’s dominance of the market with the latter commanding a market cap of over $200 billion.

Some of the reasons for the cryptocurrency bloodbath are known to many crypto players. Its skyrocketing price previous year has attracted institutional investors, but it has also resulted in increased control from regulators.

The korea exchange, the operator of the domestic stock market, sent all its employees text messages friday, calling on them to refrain from trading in cryptocurrencies.

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That seems logical, since investors in south korea and japan seem exhausted of overpaying for cryptos, as again reported by business insider.What is a bitcoin wallet

Chinese authorities could ban the centralised trading of cryptocurrencies and associated activities, according to a memo issued by a central banker. Their eventual decision to ban mining farms can trigger a massive sell-off of cryptos, which will exacerbate the current situation.

According to an unnamed source, chinese authorities plan to block domestic access to chinese and worldwide cryptocurrency platforms that allow centralized trading.

The proposed shutdown of exchanges that the justice minister recently mentioned is one of the measures suggested by the justice ministry to curb speculation, the office for government policy co-ordination said in a statement.

A cryptocurrency is a form of digital money that isn’t regulated by banks or the government.

Traders and investors have positioned themselves after the south korean government expressed their desire to take a harder stance on cryptocurrency trading in their country.What is a bitcoin wallet

Other major digital currencies also sold off sharply.

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Why to keeping eye on BBT corporation (BBT), oclaro, inc. (OCLR)?

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Bitcoin price (BTC/USD) rises following south korean news

Bitcoin has now almost halved in price after topping $19,800 in mid-december. As we all know, the biggest bitcoin mining farms are located in china .

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‘black death’ plague was spread in europe through dirty humans, not rats

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CenterPoint energy, inc. (NYSE: CNP) – RSI oversold/overbought signals to track

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