Bitcoin and other cryptocurrencies resume rising

Posted 05 March, 2018

After the Sunday decline, the leading digital coin restored positions coming back to the $11,500 area. Investors paid some attention to the statement of the BOE's Chairman but did not focus on it.

In the second half of the day, bitcoin changed hands at $11,524 on the Bitfinex (3% up). Ethereum rose in price to $864.20 on this exchange. Ripple coin hiked to $1.052 on the Poloinex, while Litecoin was quoted at some $213.95.

For reference, BOE's Chairman stated last Friday that cryptocurrency represented a bubble, so investors must be protected. This issue will be tabled during the meeting of G20 finance ministers and chiefs of central banks to take place in Buenos Aires in two weeks.

It is worth mentioning that two India's Ripple and Ethereum exchanges were shut down due to tougher state regulation, news reports read. India's finance minister called cryptocurrencies "economic bubble".

As a result,  BTCXIndia and  ETHEXIndia had no other choice but to stop activities. The platforms notified their clients about the shutdown and asked them to withdraw money.

"As we heard in the budget speech, the Indian government is discouraging cryptocurrency trading.This has been clear also by government actions in the last year and has put our business under a lot of stress and putting us in a position where we don't feel that we can continue our business in a professional manner any longer," according to the e-mail notice.

Previous story

06 March, 2018 10:49

← US dollar stabilizes vs Japanese yen driven by reduced trade war fears

On Tuesday, March 6, the US dollar flattens out vs Japanese yen given trade war risks caused by Donald Trump's intentions to raise import duties on steel and aluminum, reported Reuters. Last week the greenback touched the bottom over 1.5 years against the yen after the market was beset by fear of a trade war on US President's statement.

US dollar stabilizes vs Japanese yen driven by reduced trade war fears

Next story

05 March, 2018 15:08

US dollar generally stable amid fears of import duty launch in USA →

The US dollar stays generally stable vs the majors. Traders are concerned about the announced imposition of import duties on steel and aluminum in the USA. The US dollar sentiments softened once Donald Trump announced last week plans to impose import duties on steel and aluminum (25% and 10% respectively) striving to protect national producers.

US dollar generally stable amid fears of import duty launch in USA
Write a comment
 
Prove you’re not a bot + 17 = 25