Bitcoin Price News – Today’s Value in GBP and USD as BTC Continues to Fluctuate.

Hello dear traders!

Bitcoin was trading at around £7,607 ($10,621) at 11am today – a staggering rise of more than 10 per cent in the morning.

But trading has been extremely volatile with large swings up and down as regulators worldwide have signalled a crackdown on the “Ponzi scheme” cryptocurrency.

There are hopes however as the market itself is embracing calls for regulation and this may be what is giving BTC a new hope.

At the depths of its free-fall, bitcoin’s value had fallen by nearly three quarters since its record high of £14,837 on December 18.

A Bitcoin was worth just £4,350 on February 6 but it then recovered to nearly twice that a fortnight later.

Its price was damaged by South Korea’s plan to ban anonymous cryptocurrency trading, sending the market into a tailspin.

Justice minister Park Sang-ki said the government was preparing a bill to ban trading of the virtual currency on domestic exchanges.

He said: “There are great concerns regarding virtual currencies.”

Analysts had warned of a bubble after the price soared beyond $10,000 for the first time in late November 2017 and peaked at almost twice that three weeks later.

The surge was attributed to demand in China, where authorities warn bitcoin is used to channel money out of the country.

EBay even considered accepting bitcoin payments as it entered the mainstream with a listing on a US exchange.

Today's price of Bitcoin :-

But investors are worried by the currency’s volatile nature and the market’s inability to cope with sudden shifts in demand.

Main post read here:- http://amedpost.com/news/bitcoin-price-news-todays-value-in-gbp-and-usd-as-btc-falls-back-to-10k-before-recovering-slightly

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