Bitcoin: another historic maximum

Bitcoin reached $6345 at Bitfinex, with $101B marketcap
30 October 2017   3129

October 29 the price of the first digital currency suddenly emerged from a fairly long flat period and within the few hours made a sharp breakthrough, fixing a new record.

On the Bitfinex exchange the bitcoin price has reached the high of $6345, which is a new historical high.

Bitfinex Exchange
Bitfinex Exchange

At the moment of press, according to Coinmarketcap, the average Bitcoin price is $6123.48 with $101B marketcap and $2.6B 24h trading volume.

Bitcoin Chart
Bitcoin Chart

It is also worth noting that, together with bitcoin, the growth and most altcoins started. This, in turn, positively affects the aggregate capitalization of the cryptocurrency market. At present, the total value of the crypto currency on the market is $ 180 billion.

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   317

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.