Bitcoin price looks for $11,000 mark amid Poloniex acquisition by Circle

Posted 27 February, 2018

Once Circle announced an acquisition of the Poloniex, bitcoin price has practically reached the $11,000 mark on Tuesday.

On the Bitfinex, the major cryptocurrency was recorded at $10,850.00 and keeps the upward movement. Earlier, the coin touched the bottom at $10,140.00 over the night. Ethereum price moved up to $882.12 on the Bitfinex. Ripple changed hands at $0.94755 and Litecoin was seen at $218.11.

According to the recent news report, Goldman Sachs-financed Circle project announced a $400 million acquisition of the Poloniex exchange yesterday. The platform is a peer-to-peer payment service running blockchain-based mobile app Circle Pay and supporting bitcoin.

Another driver for the rise was the reports that Korean officials do not know exactly how to regulate the crypto market. As one of the ministers said, Seoul is yet to make final determnation on the virtual currency issue.

For reference, South Korea is one of the major sales markets for the cryptocurrency. At the same time, the government fails to give any hints of a possible way of the market regulation.

Last week, Seoul expressed intentions to regulate crypto trading, which bring some optimism to the market since insiders fear that trading can be banned. However, this week BlackRock representative commented that only those who are ready to lose everything should invest in digital coins.

Previous story

27 February, 2018 17:54

← US dollar reverses direction and posts daily peak after Powell's message

After losing grounds lately, US dollar has peaked vs the majors over the day driven by the long-awaited speech of Federal Reserve Chairman Jerome Powell. According to Powell's statement, as before US Bank sticks to the policy of gradual interest rate increase, though the size of the revision is restrained by the current economic reports in the country.

US dollar reverses direction and posts daily peak after Powell's message

Next story

27 February, 2018 13:09

EU officials hold round-table discussion of cryptocurrency issue →

In Europe this week reportedly started with the EU round-table cryptocurrency meeting with the focus on three issues. The first of them covers the impact of the digital coins on the financial markets, following the risks and opportunities coming from their use. And the third one was dedicated to the development of the ICO. According to the news reports, as commented Valdis Dombrovskis, the deputy chairman of the European Commission...

EU officials hold round-table discussion of cryptocurrency issue
Write a comment
Prove you’re not a bot + 20 = 28