Bitcoin posts new gains with another attempt to hit $11,000

Posted 19 February, 2018

Bitcoin has posted gains on Monday. Over the past weekend, the price finally exceeded $11,000-line for the first time over a month, though slackened again.

On the Bitfinex, bitcoin was quoted at $10,731 this morning (3.21% up d-o-d).

For reference, the price hit an all-time record at $11,250 on Sunday and lost 6.1% later that day.

Although the coin recovered after having halved to $6,000 in early February, it remains 20% cheaper y-o-y.

Other leading cryptocurrencies Ethereum added 1.81% coming to $936.51 and Ripple coin – 2.78% to $1.1.

The cryptocurrencies started collapsing in early 2018 affected by the trading ban imposed in some countries. The additional negative impact came from the ban of cryptocurrency buying via credit cards by the leading US banks.

Besides, one more reason behind the decline is said to lie in the fears that the price boom had been caused by market manipulation. Specifically, the investigation into the connection of the Bitfinex and Tether coins are underway now.

The market concerns somewhat softened last week following the announcement that Seoul might not ban cryptocurrency exchanges in the country.

More optimism came from the statement of the US regulators concerning the need for balanced regulation of the crypto market and protection of investors.

Previous story

19 February, 2018 14:17

← US dollar shows slight changes vs majors, trading sluggish

The US dollar rate has somewhat changed vs the majors on Monday. The positive dynamics is getting support from the optimistic US construction sector report despite fears of US economic policy. Trading is likely to be slow today since US markets are closed for the President's Day. With good construction sector figures, the fears about US budget deficit took a backseat.

US dollar shows slight changes vs majors, trading sluggish

Next story

19 February, 2018 12:15

Switzerland against tougher rules for crypto market →

Switzerland's Financial Market Supervisory Authority (FINMA) that opposes the global tightening of cryptocurrency market, has released recommendations for local startups that are going to launch ICO. The regulator strives to support the ICO market and support blockchain-based projects and thus hopes that its instructions may help the companies be more aware of the cases when...

Switzerland against tougher rules for crypto market
Write a comment
Prove you’re not a bot + 19 = 24