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Bitcoin hit a fresh record above $71,000 on Monday as demand for the cryptocurrency picks up amid optimism that the Federal Reserve will cut interest rates the year. The unit hit a peak of $71,432 in afternoon Asian business, according to Bloomberg data, meaning it has advanced almost 70 percent this year. (AFP)
Continue ReadingBitcoin has dramatically dropped in value after China’s central bank on Friday, September 24 announced that all transactions of crypto-currencies are illegal, effectively banning digital tokens such as Bitcoin and ethereum in the country. China is one of the world’s largest crypto-currency markets and 95 percent of crypto mining occurs in China. “Virtual currency-related business […]
Continue ReadingBitcoin plunged below $40,000 for the first time in more than three months Wednesday after China said cryptocurrencies would not be allowed in transactions and warned investors against speculative trading in them. The comments sent the unit diving more than 10 per cent and dealt it another blow soon after being battered by comments from […]
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