Bitcoin Price Drops to New Yearly Low at $3,200: What’s Causing the Decline?

Bitcoin Price Drops to New Yearly Low at $3,200: What’s Causing the Decline?   On December 14, following a fairly large sell-off from the $3,400 region, the Bitcoin price dropped to a new yearly low at $3,200. As Bitcoin (BTC) declined in value, other major cryptocurrencies including Ethereum (ETH), Stellar (XLM), and Bitcoin Cash (BCH) experienced large losses against the U.S. dollar, with BCH falling by more than 11 percent. Within a seven-day period, the Bitcoin Cash price` has fallen from $116 to $89 by more than 25 percent despite…

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Cryptocurrency Bull Tom Lee says Bitcoin’s Fair Market Price is $14,800

Cryptocurrency Bull Tom Lee says Bitcoin’s Fair Market Price is $14,800.   Bitcoin’s dismal price of roughly $3,400 is wrong because its actual fair market value is $13,800 to $14,800, says bitcoin bull Tom Lee. The Fundstrat founder said he made the assessment by considering the number of active wallet addresses, usage per account, and supply metrics. Fair value is significantly higher than the current price of Bitcoin,” he wrote in a note, as reported by Bloomberg. “In fact, working backwards, to solve for the current price of Bitcoin, this…

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Japanese Regulator Aims to Reduce Crypto Tax to Revitalize the Market

Japanese Regulator Aims to Reduce Crypto Tax to Revitalize the Market In October, the government of Japan hinted its plans to ease the process of taxing crypto investments to refrain impractical taxation frameworks from negatively affecting the local market. At the time, a committee of tax experts that is tasked to advise the government on taxation matters encouraged the authorities to simplify the complex process of disclosing taxable amounts that occur in investing in the crypto market. Prior to that, a local analyst said: “If the rapid growth of the cryptocurrency sector in late 2017…

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2018 Cryptocurrency Price Correction Very Similar To The Biggest 2014: Enthusiast Theory

2018 Cryptocurrency Price Correction Very Similar To The Biggest 2014: Enthusiast Theory For the last two weeks cryptocurrency token assets have been sold rigorously with the bears having their saying. Truth to be told the trip to deep-dive the market has taken since its all-time highs in Dec-Jan. It is by no doubt very frustrating for new comers and even for those longer in the game as the whole concept seemed very promising and gold-crazing hyped in the beginning. However, Twitter user @galaxybtc – Galaxy has noted out in a…

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Bitcoin Reaches 1-Month High As Crypto Markets Rally

Bitcoin Reaches 1-Month High As Crypto Markets Rally Bitcoin prices have been rising lately, hitting their highest in roughly one month earlier today. The cryptocurrency reached this level as the broader digital currency markets enjoyed gains. The price of Bitcoin rose to $7,389.26 at 12:00 UTC (8:00 a.m. EST), according to the CoinDesk Bitcoin Price Index (BPI). At this point, the digital currency had risen 2.2% in the space of 24 hours and attained its highest price since roughly the same time on August 4, additional BPI figures show. [Ed.…

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Is EU Holding Grip Over Crypto Regulations Too Tight, Affecting Bitcoin Price?

Is EU Holding Grip Over Crypto Regulations Too Tight Affecting Bitcoin Price? Finance Ministers in the European Union’s member states are taking a closer look at cryptocurrencies and the regulatory challenges they pose. They will be discussing whether or not regulations on the industry should be tightened and will be looking at issues including the lack of industry transparency, and the misuse of cryptocurrency for illicit purposes, like money laundering, tax evasion, and terrorism financing. The meeting will be taking place in Vienna on September 7th, according to a draft…

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Crypto Markets See Solid Upswing as SEC Promises to Review Recently Rejected Bitcoin ETFs

Crypto Markets See Solid Upswing as SEC Promises to Review Recently Rejected Bitcoin ETFs crypto markets have seen notable growth today, with all but one of the top 40 cryptocurrencies by market cap solidly in the green, according to data from Coin360. Bitcoin (BTC) has seen solid growth, having surpassed the $6,600 price point, starting the day just over $6,400. The leading cryptocurrency is up around 3 per cent over the past 24 hours, trading at $6,624 at press time. August 22 Bitcoin plunged from above $6,700 to under the…

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Bitcoin.org Owner Announces the ‘Cobra Client’ BCH Node Software

Bitcoin.org Owner Announces the ‘Cobra Client’ BCH Node Software Just when you thought things couldn’t get weirder in the cryptocurrency space, one of the most untrusted characters within the Bitcoin community has announced the launch of a new full node Bitcoin Cash client. The notorious owner of the website Bitcoin.org, Cobra Bitcoin, has revealed what he calls the ‘Cobra Client,’ a Bitcoin Cash full node implementation that aims to be ready before the hard fork scheduled for November 15. This week Cobra is getting involved with the argument between Bitcoin…

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Will the First Bitcoin ETF Make the Crypto Market Even More Volatile?

Will the First Bitcoin ETF Make the Crypto Market Even More Volatile? The first Bitcoin exchange-traded fund (ETF) is expected to be approved by February of 2019. But, some experts have stated that ETFs may increase the volatility of the market. Over the past few months, analysts have been divided on the effect of the ruling of the US Securities and Exchange Commission (SEC) regarding Bitcoin ETFs on the crypto market. Brian Kelly, a contributor to CNBC’s Fast Money and the CEO at BKCM, previously explained that the rise in…

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$43 Billion Wiped Out of Crypto in 5 Days as Bitcoin Price Rebounds

$43 Billion Wiped Out of Crypto in 5 Days as Bitcoin Price Rebounds Over the past 24 hours, Bitcoin, Ethereum, and Bitcoin Cash recovered by around 4%, as the crypto market added $8 billion to its valuation. On August 11, the crypto market lost more than $12 billion of its valuation as major cryptocurrencies recorded large losses. Since then, the market has slightly recovered but the momentum of major digital assets still remains weak. On August 7, the value of the global cryptocurrency market hovered at around $257 billion, supported…

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