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Due to their political independence and essentially impenetrable data security, cryptocurrency users enjoy benefits not available to users of traditional fiat currencies, such as the U.S. dollar, and the financial systems that those currencies support.
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At the end of 2017 and beginning of 2018, more people–especially those in the mainstream finance world–were paying attention to bitcoin and cryptocurrency trading. And in early January 2018, the Japanese exchange Coincheck disclosed a hack worth a whopping $534 million. This happened right around the time that bitcoin slipped from its peak value, and it certainly seemed to accelerate its drop.
The price of the bitcoin rose to an intraday high of $69,000 Wednesday, reflecting a 4.6% gain following the release of CPI data.
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Before this latest surge for the top two cryptos, recent sudden drops followed a ban on cryptocurrency transactions and mining from China’s central bank, which declared all cryptocurrencies illegal in the country. After previously topping $52,000 in early September, Bitcoin’s price had dropped and struggled to get back over $50,000 until this month.
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NEW YORK (AP) — Bitcoin's price surged again Monday after speculation that Amazon may be entering the cryptocurrency sector after it posted a job seeking a “digital currency and blockchain product lead.”
Eightcap is a multi-award-winning global broker founded in Melbourne, Australia, in 2009. Eightcap’s mission is to build a home for MT4 MT5 traders by delivering an unparalleled trading experience. Unlike some other brokers, Eightcap is authorised an…
While it shares characteristics of both currency and investments, there’s still debate among experts about whether cryptocurrency is clearly one or the other.