Bitcoin touches November bottom on further collapse

Posted 05 February, 2018

On February 5, the leading cryptocurrency in the world – bitcoin – has plunged to the bottom since last November driven by possible stiffening of crypto trading control.

Bitcoin price on the Bitfinex was recorded at $7,800 this morning falling to a multimonth minimum.

The crypto market witnessed a price collapse on Friday with bitcoin falling below $8,000. As a result, the market capitalization dropped by more than $100 billion. Positions of cryptocurrencies were affected by possible tightening of the crypto trading policy, virtual coins restrictions as well as a probable market crash.

For now, the American bodies have launched a case to find out whether the 2017 hike in bitcoin came out from the certain manipulation in the crypto market.

Specifically, U.S. Commodity Futures Trading Commission checked the Bitfinex platform for probable connection to Tether as the latter coin is considered to be a booster of bitcoin price. For reference, Tether company states that its coins are secured by the company reserve in US dollar terms. Yet, it failed to confirm this statement.

As a result, some large companies, including  Lloyds Banking Group, J.P. Morgan Chase, Bank of America and Citigroup, do not permit their clients to buy digital coins via credit cards.

In addition, the top-2 major cryptocurrency, Ethereum went down to some $796 on the Bitfinex, while Ripple touched $0.76 (some 18% down).

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05 February, 2018 16:57

← Greenback almost at 2-week peak vs Canadian dollar on Monday

The American currency hiked vs the Canadian dollar reaching a practically 2-week peak today. The positive performance is related to optimistic US labor report released last Friday. At the same time, the Canadian currency faced pressure from cheaper oil. The USD-CAD pair was recorded at 1.2464 (0.29% up) on Monday.  

Greenback almost at 2-week peak vs Canadian dollar on Monday

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02 February, 2018 16:28

US dollar firms up further vs the majors on positive employment data →

The greenback has gathered pace vs the majors today boosted by the positive employment data released on Friday. The data showed that the number of new jobs beat expectations in January supporting the economic upturn outlook. According the reports, it was created 200,000 new jobs over the period under review, while the forecast was voiced at some 184,000.

US dollar firms up further vs the majors on positive employment data
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