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Business/Finance
See other Business/Finance Articles

Title: Bitcoin loses nearly half its value in crypto-market bloodbath
Source: [None]
URL Source: https://www.rt.com/business/416153-cryptocurrency-market-fall-china/
Published: Jan 17, 2018
Author: © Kacper Pempel / Reuters
Post Date: 2018-01-17 05:48:37 by Tatarewicz
Keywords: None
Views: 1456
Comments: 15

RT... The cryptocurrency market has extended its losses, as major digital assets are trading 13 to 25 percent below previous day's prices. Digital-currency locomotive bitcoin has now slid below $11,000.

The $11,000 milestone is 45 percent below the $20,000 peak that bitcoin touched just one month ago. Ethereum also plunged below the psychological $1,000 mark, and is on track to lose all its gains in 2018, which reached 100 percent just four days ago. Read more © Kai Pfaffenbach Bitcoin crashes to 6-week low as regulator crackdown escalates

Ripple was down over 20 percent, trading at $1.15. This is a three-fold collapse from the $3.65 peak it hit on January 4. Bitcoin cash, cardano, litecoin, neo and other top cryptocurrencies have also slipped by up to 25 percent from the previous trading session.

Cryptocurrencies are falling on reports that authorities in China are planning to widen their crackdown on trading in the country. A Chinese state-run newspaper Securities Times reported on Tuesday that Beijing will target over-the-counter trading, offshore sites used for centralized trading, and peer-to-peer trading of large transactions.

Bloomberg also reported that China will bar access to local and offshore platforms that provide centralized trading, and target traders who provide bids and offers for big-scale trading.

Another BRICS country, Brazil, has joined China and India in taking action against cryptocurrencies. The South American country has prohibited local investment funds from buying digital cash.

The world's most popular cryptocurrency bitcoin was trading at $10,756 as of 9:20am GMT on Wednesday.

For more stories on economy & finance visit RT's business section

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Begin Trace Mode for Comment # 14.

#1. To: Tatarewicz (#0)

It seems all the top cryptos have retreated more or less uniformly.

Pinguinite  posted on  2018-01-17   6:03:57 ET  Reply   Untrace   Trace   Private Reply  


#3. To: Pinguinite (#1)

It seems all the top cryptos have retreated more or less uniformly.

It appears more like a rout than a retreat to me. I suppose someone intimately familiar with digital currency markets/exchanges and a crystal ball could become wealthy quickly if they possessed inside info regarding these dramatic shifts in value.

noone222  posted on  2018-01-17   6:21:08 ET  Reply   Untrace   Trace   Private Reply  


#4. To: noone222 (#3)

We of the unwashed masses believe it is worth holding if we can hold it in our hands or walk on it.

Cynicom  posted on  2018-01-17   6:40:42 ET  Reply   Untrace   Trace   Private Reply  


#5. To: Cynicom (#4)

We of the unwashed masses believe it is worth holding if we can hold it in our hands or walk on it.

I suppose we're a tad cynical - not without good reason I might add !

noone222  posted on  2018-01-17   6:44:13 ET  Reply   Untrace   Trace   Private Reply  


#6. To: noone222 (#5)

A chicken in the pot is worth more than a dozen chicken futures.

Cynicom  posted on  2018-01-17   6:48:09 ET  Reply   Untrace   Trace   Private Reply  


#7. To: Cynicom (#6)

Who said that ??? Confucius ? (Or was it James Earl Ray ?)

noone222  posted on  2018-01-17   7:03:16 ET  Reply   Untrace   Trace   Private Reply  


#12. To: noone222 (#7)

James Earl Ray

BTP Holdings  posted on  2018-01-17   18:30:36 ET  Reply   Untrace   Trace   Private Reply  


#14. To: BTP Holdings (#12)

Even the King family, and most others, knew and know that Ray was the patsy du jour.

Lod  posted on  2018-01-17   20:48:52 ET  Reply   Untrace   Trace   Private Reply  


Replies to Comment # 14.

#15. To: Lod (#14)

the King family

The way I recall it, MLK, Jr had been consorting with Communists. I believe that is why he was offed. ;)

BTP Holdings  posted on  2018-01-18 04:39:21 ET  Reply   Untrace   Trace   Private Reply  


End Trace Mode for Comment # 14.

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