Bitcoin - What Goes Up Must Come Down

Bitcoin - What Goes Up Must Come Down

Bitcoin - What Goes Up Must Come Down

The market value of cryptocurrencies is calculated by multiplying the number of digital coins in existence by their price, although many question whether that is the right way to value them. It clawed back some losses and was down around 4.1 percent at $8,623.50 in mid-morning NY trading. Comparing that to the nearly $20,000 that Bitcoin almost reached in early December may be a little unfair, as that was a very brief moment, but the virtual currency subsequently spent a lot of time hovering around the $15,000 mark. It surged more than 1,000 per cent though in 2017.

"Bitcoin has become, and will continue to be, primarily a speculative asset class", said David Moskowitz, Co-founder and Director of Indorse, the decentralized social network for professionals. Ethereum was last down 18.2 percent, at $913.37, while Ripple last traded at 80 USA cents, down 16.7 percent.

"Concerns that Facebook is banning ads and major crypto exchanges shutting down have really silenced the hype and some people are probably having second thoughts about investing their hard-earned cash into digital currencies". Regulators say cryptocurrencies are highly speculative and risky investments.

That means no advertiser - even those that operate legal, legitimate businesses - will be able to promote things like bitcoin and other cryptocurrencies, initial coin offerings - ICOs for short - or binary options, according to a Facebook blog post.

Babies Go Red for the hearts of the Women in their lives
News 10 and the American Heart Association are asking that everyone wear red on February 2 for their Go Red For Women campaign. Heart disease has been called the Silent Killer because it often has no noticeable symptoms.

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.

A massive US$530 million hack of a Japanese cryptocurrency exchange last week renewed worries about the security of the industry.

Despite banning the purchase and sale of cryptocurrency, the Indian government wants to further explore blockchain technology (on which bitcoin is based).

Following Jaitley's announcement that India will ban cryptocurrencies, bitcoin, ripple and ethereum prices dropped dramatically.

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