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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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  1. Paulin Curlay
    Paulin Curlay February 19, 12:28

    I’m investing on cryptocurrencies too but I dont know how to file tax. Have you done that? I’m in Canada btw.

    Reply to this comment
  2. Eve Hunt
    Eve Hunt November 20, 06:00

    “I’m looking for a wallet where I can turn 3-10 bitcoins into USD instantly. I have coinbase now, but I would like something similar that allows me to transfer larger amounts faster and no weekly limits …?

    Reply to this comment
  3. Vernon Waide
    Vernon Waide December 10, 15:42

    thanks for sharing this information.have shared this link with others keep posting such information..

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    Dream Market December 14, 11:11

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  7. Moses Brodin
    Moses Brodin January 07, 06:55

    Bitcoin transactions are irreversible, Visa/Mastercard transactions are reversible. Only a few exchanges overseas accept Visa/Mastercard, because of the risk of somebody buying Bitcoins and then reversing the card transaction.

    The few exchanges that take the risk must increase their prices significantly to counter the risk, which then makes them uncompetitive. Darn.

    Most exchanges in Australia use bank deposits, except for Coinjar which uses Bpay (IMHO a very good way to do it, which is probably why it’s such a popular exchange in Australia).

    If you wanted to use your Visa card because you’re not sure if you can trust a Bitcoin exchange, then maybe you should try only sending small amounts of money to start off with. Although 1 BTC is worth $650, you can buy as little as $20 worth of Bitcoin. That’s how I started off, and if you’re unsure you can start by buying just that amount.

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  8. Victoria Tegg
    Victoria Tegg January 18, 07:24

    As far as I am aware, no reputable and long-standing site extends this facility to their customers. The risk of charge backs are just too great. In addition, cryptocurrency trading is against PayPal’s T&C, so both the seller and buyer’s account could be frozen at the snap of a finger. Case in point, CoinPal: Buy Bitcoins with PayPal . Do yourself a favor and avoid the inevitable heartache.

    Reply to this comment
  9. Alisha Ross
    Alisha Ross February 20, 08:53

    The developer community is not having trouble reaching consensus. The developer community has been pushing for segwit for quite a while, receiving pushback from certain miners. These miners found a sympathetic outlier in Jeff, but to my knowledge he had nothing to do with segwit.

    Segwit is also not activated yet. Hopefully it will be soon.

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    I tried VirrWox and it wasn’t good. I tested that with 6 dollars and i couldn’t do anything with the money and a lot of restrictions with the minimum amount. Then i tried to recover some of the money into my paypal, an error appear, now i don’t have money on this tool neither on Paypal. Surely i’ll not trust on this with larger amounts.

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