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The end to cryptocurrencies? One bitcoin costs less than $ 10,000

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The end to cryptocurrencies? One bitcoin costs less than $ 10,000
January 18
09:00 2018

Yesterday, the exchange rate of bitcoin, the most popular cryptocurrency in the world, fell below the psychological mark of $ 10,000. Thus, in just a month, bitcoin has lost about half the price.

As of yesterday evening, the authoritative portal of CoinDesk fixed an exchange rate of $ 9,469 for one unit of the cryptocurrency. It turns out that in one trading session bitcoin has lost 17%. A day earlier, the popular cryptocurrency had fallen by 25% of its value.

This low exchange rate has been fixed for the first time since the beginning of December last year. We recall that 18, December was the day when bitcoin showed its maximum cost. Then one could buy it for 19,511 US dollars.

A catastrophic decline in the exchange rate is quite predictable and (according to the MarketWatch portal) has been caused primarily by the actions of the government of South Korea. The other day it has become known that the government of the Land of the Morning Calm is preparing a legislative ban on the activities of the exchanges that trade cryptocurrencies in the country. According to various estimates, South Korea accounts for about a quarter of all world transactions with cryptocurrencies. Thus, such news could not but affect the exchange rate of the popular asset.

About two hundred thousand South Korean traders have signed a public call, which requires the government to leave the cryptocurrency market well along. However, it’s hard to believe that under the pressure of the public, the government will change its plans.

The situation on the CME and CBOE looks like this:

– Yesterday, bitcoin futures for January (traded on the CME) fell to the level of 9,555 US dollars (i.e. by 14.4%);

– On the CBOE, January futures dropped towards 9,510 US dollars (by 14%).

Ethereum, the second most popular cryptocurrency in the world, fell to $ 812 (27%) during yesterday’s trading session.

The material was prepared with the participation of Katya Gordon,
a leading analyst of the brokerage company CT Trade

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