Tuesday, 21 May 2019

Unclear regulation, price of Bitcoin touches its lowest


IllustrationIllustration - The price of bitcoin resumed the trend of falling prices to touch its new lows. Reporting from Reuters, the downward trend was triggered by a report by US investment analyst Goldman Sachs. They are reported to have withdrawn virtual currency investments. Bitcoin has dropped almost ten percent since Wednesday, September 5th 2018.

Based on Bloomberg data, bitcoin prices stood at USD 6,400.74, down from USD 6,949.01. Meanwhile, other cryptocurrency that compete with bitcoin, namely ethereum and ripple slumped around 20 percent and 10 percent. The two krypto currencies also fell after a Business Insider report that said Goldman was suspending plans for trade exchanges related to bitcoin and other digital currencies.

This fall in krypto money caused market capitalization to drop by around USD 40 billion for 24 hours. Reporting from Reuters, Goldman Sachs' decision was driven by uncertainty about Bitcoin regulation. However, until this news is published, Goldman Sachs has not comment yet .

Previously, crypto currencies still attracted some people. One of instant messaging companies, Line is rumored to be launching digital tokens. Line said the expansion of the business was a company effort to reach a wider business in addition to efforts to boost the number of users who continued to decline.

The Japanese company said later that users could use links on a blockchain network called Chain. However, unlike other crypto currencies, users cannot get links through the Initial Coin Offering (ICO).


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