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NewslookAn Israeli holds a visual representation of the digital cryptocurrency Bitcoin, at the “Bitcoin Change” shop in the Israeli city of Tel Aviv on January 17, 2018.
A day after falling 25%, bitcoin was drop further than 13% to roughly $9,200 at its low point Wednesday.
The latest bitcoin value slide has been driven with fears that governments around the globe would move to limit bitcoin trading or squash it altogether.
There is debate on whether bitcoin, that is a stateless and unregulated digital currency, going to ever replace traditional paper currencies such as the dollar.
CLOSE The South Korean government said it plans to block cryptocurrency trading, sending bitcoin prices plummeting and throwing the virtual coin market into turmoil.
Bitcoin futures down 20% as digital currency hits six-week low over crackdown fears
Bitcoin (Exchange: BTC=) plunged to a six-week low Tuesday after comments from South Korea’s finance minister renewed worries about a crackdown in 1 of the largest markets for digital currency trading.
Trading in the Cboe bitcoin futures contract was briefly halted in accordance with value volatility rules.
Last week, it emerged which South Korea was reportedly moving to rein in speculative cryptocurrency trading with a possibility bill to block cryptocurrency trading.
Trading in South Korean won accounted for about 3.5 percent of bitcoin trading volume, according to CryptoCompare.
Investors too monitored reports of an escalated crackdown on the cryptocurrency market in China.
Coinbase, leading US digital currency marketplace, hires Twitter exec who oversaw consumer services
referring to As leading unite states digital currency marketplace Coinbase struggles to handle accelerating user demand, the start-up has hired an executive from Twitter to get best customer support.
Tina Bhatnagar, previous vice president of operations and user services at Twitter, is joining the company, Coinbase co-founder and CEO Brian Armstrong reported Monday.
The company, valued at $1.6 billion, grew from less than five million users in late 2016 to further than 13 million at the finish of November.
Twitter had an rate 330 million every 30 days active users as of the third quarter of 2017, up from 317 million a year ago.
Overall, Coinbase doubled in size in 2017 and had about 200 employees with the finish of final year, according to the company.
Leading digital currency partners with Orlando-based Mercury Cash
A New York-based digital currency, Dash, is partnering with Orlando-based exchange, Mercury Cash.
Dash is Utilizing Mercury Cash to expand its footprint in South America, the companies reported Monday.
The integration means Mercury Cash going to offer Dash along with Ethereum to purchas and sell via debit- and credit-card transactions.
Mercury Cash currently has about 3,000 registered users and fifty employees, he said.
Up until now, the Mercury Cash exchange only carried Ethereum, that is the second largest digital currency in the world behind Bitcoin, according to CoinMarketCap, that tracks digital currencies trading volume.
collected by :John Locas