Bitcoin: $6420 mark reached

Another historic maximum of first cryptocurrency reached
31 October 2017   1596

On Tuesday, October 31, Bitcoin updated the new price maximum. At the 14:33 GMT, 31.10.2017, price of BTC at Bitfinex reached $6420.0. Market capitalization at the same time is over $ 105 billion.

Bitfinex Bitcoin price chart
Bitfinex Bitcoin price chart

The rise in the price of BTC is taking place against the backdrop of fresh news that the CME Group plans to launch Bitcoins futures contracts trading by the end of the year.

At the moment of press, average Bitcoin price is $6379.09 with $1.8B 24 hours trading volume.

24 hours Bitcoin average price chart
24 hours Bitcoin average price chart

Last price record ($6330) was detected at Sunday, 29.10.2017. 

PBoC to Continue Anti-Crypto Propaganda

The regulator published a warning in its WeChat account called “Protection of the rights and interests of consumers of financial services”
23 March 2020   302

The People's Bank of China has returned to criticism of cryptocurrencies amid a worsening economic situation in the world.

On March 22, the regulator published a large-scale warning in its WeChat account under the heading “Protection of the rights and interests of consumers of financial services”. It describes three ways in which cryptocurrency service providers can mislead consumers.

First of all, the amount of fraud transactions with bots is serious. The average turnover rate of the top three overseas crypto currency exchanges is much higher than that of foreign licensed exchanges. Second, market manipulation exists in these exchanges where forced leveraged trading eventually causes the exchanges to explode. Third, money laundering is a big issue.


People's Bank of China

In addition, the Chinese Central Bank calls the opinion that Bitcoin may serve as a protective asset, erroneous. The regulator indicates its high volatility and recommends that citizens not follow the example of other investors and refuse to participate in cryptocurrency trading.