Bitcoin falls below $4000

The corrective phase: Bitcoin price falls below $4,000
15 August 2017   2256

Bitcoin price falls below $4,000 losing over 10% in value after reaching a new all-time record high above $4,400. At the time of writing, the price is around $3970.

Bitcoin price chart on coinmarketcap.com Bitcoin price chart on coinmarketcap.com

As the data from the Bitstamp Price Index shows, Bitcoin price reached $4,400 during the early hours of Tuesday around 02:00 AM (GMT). Then, the trading period over the day saw Bitcoin’s value slip back toward $4,200 around 07:00. A sharp drop at 11:00 resulted in Bitcoin price dipping to $3,925.

Data on Bitcoin price from the Bitstamp Price Index Data on Bitcoin price from the Bitstamp Price Index

As Sheba Jafari, Goldman Sachs' chart analyst, claims, Bitcoin is riding a “fifth wave", so this rapid price fall must be the correction phase after which, according to the predictions, the price may drop to about $2,000.

Australian Company to Issues Crypto Backed Loans

In case of default, financial company named Helio may sell cryptocurrency to cover losses
10 December 2018   89

Helio from Melbourne began issuing loans secured by cryptocurrencies, Bitcoin.com reports.

The service allows Helio clients to borrow from 1000 Australian dollars ($ 720) on the security of cryptocurrency assets. At the moment, the company accepts Bitcoin, Ether, Litecoin and Ripple.

Helio client crypto assets are stored in a secure wallet, company representatives say. In case of default, the company may sell cryptocurrency to cover losses.

Helio has a credit license (ACL) issued by the Australian Securities and Investments Commission (ASIC). As stated by the company's founder, John O’Shy, Helio was the first licensed organization in Australia to launch this service. According to him, the country has a developed cryptocurrency market, however, suppliers who want to provide loans secured by digital assets are not enough.

In June, the Japanese corporation Abic Corporation began to issue loans secured with Bitcoin