• News
  • Money

Bitcoin rises above $11000, first time since January

Bitcoin rises above $11000, first time since January

Joyce said that the government is now studying bitcoin and other cryptocurrencies and understanding "what the good ideas and bad ideas in that space are" and this means that the government isn't closer to regulations.

"We've now gone up nearly double in the last few weeks, and I think a lot of this is people coming around to the fact that Bitcoin trading isn't going anywhere".

While brief, the statements will be seen positively by South Korea's crypto community, as well as world markets, since the option to outright ban cryptocurrency exchanges had been considered by regulators as one way to calm the country's heated cryptocurrency market and counter money-laundering.

Yesterday, Bitcoin hit its highest price point of the year, surging to $11,700 before dropping by more than $1,000. At the time of writing, the total market cap is worth more than $501 billion.

Bitcoin fell from $20,000 in December to below $6,000 on February 4. The National Assembly of South Korea criticized him for this remark and he had to apologize.

A ranking official responsible for the South Korean crackdown on cryptocurrencies was found dead in his home in Seoul on Sunday. Several of Jung's colleagues have noted that the official was under heavy stress over recent months, referencing the high level of stress and pressure associated with his position.

In an interview with The Wall Street Journal on Monday, John Rainey, chief financial officer at PayPal, said he believes Bitcoin has a future as an option for payments.

While investing in Bitcoin or any other cryptocurrency does sound promising, however, these markets are highly unpredictable because of its volatile nature. Bitcoin peaked around $19,500 in mid-December - over $20,000 in early CME Bitcoin futures - then lost almost 70% of its value by early February as regulators around the world, especially South Korea and China, stepped up curbs on the newfangled assets.

The cryptomarket will likely take its cues from Bitcoin however, with Bitcoin dominance continuing to rise, now sitting at 39.2.

Bitcoin rose 3.8 per cent to US$11,502 in NY, heading for a one-month high.

At last count, there were about 1,400 cryptocurrencies that facilitate peer-to-peer transfers of data and value. More recent investors have suffered significant losses, at least on paper.

It may fit the description of newly minted companies with blockchain in their name but without any real underlying blockchain business plan, CNBC said.

Three years ago, Riot Blockchain was a biotech.

Leave Your Comment

Leave Your Comment


Latest News

Breaking News



Recommended

Dow rallies 347 points as stocks close higher for week

SPDR Dow Jones Industrial Average ETF (NYSEARCA:DIA) was the target of a large decrease in short interest in the month of January. A number of other hedge funds and other institutional investors have also recently modified their holdings of the business.

Trump praises Turnbull at White House

Diplomats - and even a mutual friend, golfer Greg Norman, who was at the White House on Friday - rushed to fix the damage. Prime Minister Malcolm Turnbull has honoured the only Australian buried at Arlington National Cemetery in Virginia.

Wizards hold off new-look Cavs

Tyronn Lue said that he will start LeBron James at small forward, Tristan Thompson at center and Cedi Osman at power forward. One of the biggest assists of the night came from Beal as he caught the inbound with just under a minute left in the game.

Sony's New Xperia XZ2 Actually Looks Good

The XZ2 will be dust- and water-resistant have a 3,180mAh battery that can be charged via USB Type-C or via a wireless charger. The fingerprint sensor has also moved to the back, similar to what we saw in the L2/XA2/XA2 Ultra leaks.

Kansas City to trade CB Marcus Peters to Los Angeles Rams

While the deal has already been agreed upon, it cannot be made official until the start of a new league year on March 14th. Peters then left the field without having been ejected, infamously returning a few minutes later without socks.

OAR bobsledder fails doping test

They're already denying that she took this substance, even though 5 days earlier she passed a drug test, but then failed this one. A Russian bobsledder who previously boasted of being a "clean" athlete faces a ban from the Winter Olympics for doping.

Donald Trump thinks 'a rating system' is needed for movies

The Motion Picture Association of America has a rating system that's used at movie theaters nationwide. The MPAA has taken plenty of flak over the years for its rating system.

Kentucky basketball to conduct internal review into possible NCAA violations

Much of this information was found after a raid on former National Basketball Association agent Andy Miller's office. At least 20 Division I basketball programs and more than 25 players were listed that violated NCAA rules.

Files Go adds quicker way of backing up files to Google Drive

It'll be an interesting move by Reliance Jio because it can still bring over most of its KaiOS-based apps to Android Go devices . Android Enterprise Recommended could make Android phones more appealing to enterprises who need resilience and manageability.

Callahan Advisors LLC Boosts Stake in Kinder Morgan Inc (NYSE:KMI)

Valeo Financial Advisors LLC's holdings in Kinder Morgan were worth $286,000 at the end of the most recent reporting period. Axa increased its stake in Marathon Oil Corp (MRO) by 735.15% based on its latest 2017Q3 regulatory filing with the SEC.