Bitcoin locked over $4800

First cyptocurrency continues its growth on the background of big events planned
10 October 2017   1649

Continuing steady growth on Monday, October 9, the first crypto currency went to levels above $ 4800. As of 08:00 GMT on Tuesday, the average weighted bitcoin rate, according to Coinmarketcap, was $ 4,819.58, but subsequently dropped to $ 4,802.47 to a moment of press.

The observed increase in the price of bitcoin occurs against the background of the expected Bitcoin Gold hardfork later in October and the growing disagreements in the community regarding the SegWit2x. The latter, if nothing extraordinary happens, SegWit2x will have to happen in November.

Both hardforks assume the releaze of new coins for users, which is why high trading volumes are happening last 24 hours. Bitfinex, Bithumb, BitFlyer, HitBTC and GDAX exchanges became the top five leaders in the volume of deals with Bitcoin at this hour.

Over the past 24 hours, bitcoin has risen in price almost by 5%, while its dominance index with total capitalization of $ 152 billion is over 52%.

Bitcoin Charts
Bitcoin Charts

At the same time, we can see that whole bunch of altcoins are losing their "weight". 

Top ten cryptocurrencies chart
Top ten cryptocurrencies chart

As you can see on the chart above, besides Bitcoin, only NEM continues to grow. It gained more than 8.85% in last 24 hours.

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   310

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.