Bitcoin price reverses after yesterday's slump

Posted 18 January, 2018

Bitcoin price has reversed on Thursday after the yesterday's slump below $9,500 driven by massive sales of the currency amid concerns about a probable tightening of the trading policy by the regulators.

On the Bitfines bitcoin changed hands at $11,228.00 today (9.13% up d-o-d).

For reference, the price plunged to $9,231.0 yesterday, touching the bottom since November 30 and a half as much as the peak of $19,891 detected on the Bitfinex on December 17 (other exchanges recorded levels even above $20,000).

Bitcoin shows up-down dynamics, though restores positions quickly.

The recent weakening affected bitcoin market value which amounts to $192 billion now ($30 billion down).  

The top-2 digital coin – Ethereum – rebounded to $998.92 on the Bitfinex ($770.10 a day).

Ripple changed hands on the Poloinex at $1.4. The yesterday's decline was some 25%.

On Thursday, South Korea's regulators stated again that the issue on the closure of cryptocurrency exchanges is under consideration. For reference, this destination is one of the largest crypto markets (in particular, for bitcoin and Ethereum).

According to the market analysts, the observed weakening gives reasons to believe that the bubble on the market is about to burst. However, the price is reportedly still well above the last-year levels, so we are far from seeing a crash so far.

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18 January, 2018 16:30

← US dollar rolls back vs the majors further on Thursday

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US dollar rolls back vs the majors further on Thursday

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