Bitcoin recovers after Sunday plunge

Posted 25 June, 2018

The price for bitcoin has reversed on Monday after sliding to the 2018 bottom at $5,787 a day before. The Sunday collapse was driven by the statement of Japan's FSA that required local trading platforms to upgrade their business practices. 

This order was sent to the following trading platforms: Bitflyer, QUOINE, Bitbank, BTCBOX, BITPoint Japan and Tech Bureau.

On the Bitfinex, the major digital coin was priced at $6,189, followed by Ethereum that reached $458.67. Meanwhile, Ripple on the Poloniex rebounded to some $0.48699. Litecoin quotes went up to 81.50.

Last Sunday, Bitcoin plunged to the bottom, posting 70% decline against the mid-December peak. The observed dynamics is related to the order of Japan's Financial Services Agency under which six exchanges must improve their business practices and operations.

According to the reports, the deadline for providing business plans of the mentioned platforms is July 23. 

As one of the traders commented, insiders were negative towards the FSA order, though this decision might generally bring fruits to the crypto sector. 

Last week bitcoin price dropped by $200 following reports about the Bithumb hack in South Korea. The exchange reportedly lost some $31.5 million.

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25 June, 2018 15:02

← BTCC sells stake in mining division to Value Convergence Holdings Limited

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BTCC sells stake in mining division to Value Convergence Holdings Limited

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25 June, 2018 11:50

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