Hi everyone and welcome back. Bitcoin fell under $17,000 today. So let’s take a closer look.
Bitcoin climbed past $17,600 today and then later today we saw it drop under $17,000. We saw it hit a record high surpassing $18,000 on December 8th. There has been lots of news reports this week surrounding South Korea and a possible cryptocurrency crackdown. The latest news according to Bloomberg is that the government is considering different measures this may include allowing only qualified exchanges to offer cryptocurrency trading and they might tax capital gains on cryptocurrency trading.
Australia’s central bank governor Philip Lowe has aired his concerns over what he has called a speculative mania. According to Reuters he said that, “The value of bitcoin is very volatile, the number of payments that can currently be handled is very low, there are governance problems, the transaction cost involved in making a payment with bitcoin is very high and the estimates of the electricity used in the process of mining the coins are staggering.” Despite these concerns the cryptocurrency community remains incredibly bullish and many people believe it will continue to skyrocket in 2018.
Now let’s take a look at the performance of some other leading cryptocurrencies. Ethereum surged more than 24% over the past 24 hours and its market cap of over $64 billion. The cryptocurrency continues to hit record highs surpassing $660. Ripple’s cryptocurrency XRP has jumped back again into 4th place with a market cap of over $18 billion surging over 70% over the past 24 hours. Litecoin hit a record high yesterday surging all the way to $331 yesterday and today it idropped to around 305. Litecoin is currently in 5th place with Litecoin has a market cap of well over $16 billion. IOTA experiences losses of over 11 percent of the past 24 hours but still sits in 6th place with a market ca of over 11 billion.
Related Post:
- Cryptocurrency News | South Korea | Russia No Tax On BTC | Bitfinex Reopens Registrations
- Cryptocurrency News! IOTA Online Key Generator Hack – South Korea Exchange Tax and More!
- SOUTH KOREA Leads Cryptocurrency Adoption – Will 2018 Be the Year Korea Takes Over Crypto?
- South Korea readies ban on cryptocurrency trading as police & tax agency raid exchanges
- ? SO MUCH NEWS EDITION!! – Cryptocurrency, Ethereum, EOS, & Bitcoin News LIVE (Dec. 13th, 2018)
- North Korea may be behind world’s biggest cryptocurrency heist in South Korea – TomoNews
- XRP Continues Consolidation Despite South Korea’s Positive Developments
- CryptoCurrency Market Crash? – Will South Korea and Asia Ban Crypto Trading? – CryptoCurrency News
- 3 WAYS TO PAY NO TAX/LESS TAX ON CRYPTOCURRENCY PROFITS with @Crypto Tips | Crypto Taxes
- Altcoin News – Bitcoin Fork? South Korea, Cryptocurrency Hackers, Facebook Crypto, Crypto Boom 2.0?
