Cryptocurrencies post a price slump

Posted 16 January, 2018

The main cryptocurrencies (in particular, bitcoin, Ethereum, and ripple) have slumped in price on Tuesday. On the Bifinex, bitcoin changed hands at $12,106.00 (10.96% down d-o-d). The price for the second key currency in terms of market value – Ethereum – moved down to $1,127.7. For reference, Ethereum hit an all-time high at $1,423.20 this weekend.  

Ripple trading on the Poloinex took place at $1.41 (23% down d-o-d).

With such course of events, Ethereum market capitalization dipped to $108 billion, while Ripple one – to 453 billion. Bitcoin keeps staying in the lead with $208 billion market value.

The beginning of new 2018 year was highly unstable for cryptocurrencies, considering the 2017 upturn data. Seoul's decision to tighten crypto trading policy made investors less optimistic.

Last week Korea's justice minister stated that the government was about to ban crypto trading in the country, which led to a sharp decline in prices for cryptocurrencies.  

However, Seoul stated this Monday that the ban was yet to be approved, while governmental bodies kept discussing possible ways of crypto market regulation.

For reference, Korea's decision to ban trading followed similar steps by Beijing, which closed cryptocurrency exchanges last year and attempts to limit bitcoin mining now.

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16 January, 2018 14:44

← GBP down to session bottom on UK inflation report

The sterling has fallen to the session buttom vs the US dollar on Tuesday on the release of the inflation data in the UK. According to the report, the UK recorded the first slowdown in inflation rate over the past 6 months, indicating the rise in the cost of living in the country has decelerated. The sterling-to-US dollar changed hands at 1.3756, against 1.3819, the highest level since Brexit vote in June 2016.

GBP down to session bottom on UK inflation report

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16 January, 2018 11:42

US dollar to euro almost unchanged, yen posts first weakening over 6 sessions →

US dollar stays practically unmoved to euro being close to a 3-year bottom during the Tuesday session. At the same time, Japanese yen has reportedly posted a decline for the first time over six sessions, otherwise the Bank of Japan and the government may take steps to restrict yen hikes, as traders believe. For now euro has been at $1.2263 against $1.2264 at the close of the previous session in New York.

US dollar to euro almost unchanged, yen posts first weakening over 6 sessions
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