Bitcoin - What Goes Up Must Come Down

Bitcoin - What Goes Up Must Come Down

Recent falls are largely down to market fears after reports that cryptocurrency exchanges Bitfinex and Tether being subpoenaed by USA regulators in December. It clawed back some losses and was down around 5.6 per cent at US$8,498 in late NY trading. DigixDAO was the only exception, with the digital currency trading 40 percent higher. It surged more than 1,000 per cent though in 2017. And if a payment solution can help the congestion, bitcoin may once again become an effective payment network, Moskowitz said.

Other cryptocurrencies, including Ripple, the third-largest by market value, and Bitcoin Cash, have also racked up double-digit declines in the last 24 hours, according to Coinmarketcap.com, which tracks the industry. Ethereum was last down 13.2 per cent, at US$888.22, while Ripple last traded at 83 USA cents, down 14.7 per cent. While India announced the toughening of the regulation of the cryptocurrency market.

The total market capitalization or value of all cryptocurrencies in circulation was $402.9 billion at the time this article was written.

Asus ZenFone 5 Series smartphones might launch at MWC 2018
Since the last year's Zenfone 4 Pro came with Snapdragon 835 SoC, we might see the Zenfone 5 Pro with Snapdragon 845 SoC on 2018. Asus is also in rumours for developing the ZenFone 5 Lite that recently received a certification in Russian Federation .

Social media giant Facebook announced this week that it will ban ads promoting "financial products and services that are frequently associated with misleading or deceptive promotional practices, such as binary options, initial coin offerings and cryptocurrency".

In a development welcomed by cryptocurrency investors, the finance minister of South Korea, a major hub for digital coin trading, said on Wednesday there was no plan to outlaw their buying and selling after regulators had earlier pledged to do so.

Despite banning the purchase and sale of cryptocurrency, the Indian government wants to further explore blockchain technology (on which bitcoin is based). A major sell-off of cryptocurrencies is being observed in the last few days, causing the price of Bitcoin to decline to as much $8,500.

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