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Bitcoin Price Highlights
- Bitcoin price appears to be slowing from its climb and might be forming a short-term reversal.
Fundamentals and market sentiment appear to be strongly in support of more bitcoin price gains from here.
Bitcoin appears to be moving into a new price discovery following a new ruling.
Bitcoin dips another $211 – China’s crypto currency crackdown
Bitcoin fell by another $211 on Tuesday after the fallout of a Chinese ban on crypto currency crowdfunding methods saw the price of the digital coin slump earlier this week.
Although analysts contend that the price of bitcoin shouldn’t be linked with China’s ICO crackdown, the cryptocurrency hit a low of $4,039 according to Coindesks price index.
Ethereum also sees price dip
The second largest cryptocurrency Ethereum also saw a fall in value following the clampdown.
The currency fell by as much as 15 percent on Monday, according to Coindesk.
Bitcoin was trading at $4,265 and Ethereum at $299 at around 11:11am London time.
Russian Bureaucrat Claims the Central Bank Has Approved a Cryptocurrency Exchange
Russia seems to be getting extremely close to legalizing and regulating cryptocurrencies within the region.
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