Bitcoin Posting Declines Last Recorded In December 2013

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After the digital token drawn huge interest from investors across the globe with a massive surge in price from less than US$ 1000 in price to US$ 20000 on some of the global exchanges in the mid of December 2017, the decline in the currency sees no stopping.

Bitcoin Posting Declines Last Recorded In December 2013

In the first month of 2018 alone, the currency has recorded a decline of almost 31% as the US authorities are scaling up their scrutiny measures against the leading digital currency exchanges.

At the same time, Facebook has also been reported to ban any such ads promoting investment or trading in cryptocurrencies on its platform.

Read about Facebook to ban ads promoting digital currencies

As per the composite pricing which is compiled by the Bloomberg, the largest digital currency in market share and cap was seen trading at $9,817 as of 10:20 a.m. in Hong Kong.

In line with it, price of other altcoins including ripple, ethereum and litecoin was also down by 2%.

The clampdown across the globe is seen as a huge trigger which has pushed the price of digital currency down by almost 31% in a month's time.

South Korea also has reported to identify some huge chunk of money linked to cryptocurrency fraud.

Read about Japanes crypto exchange heist

Story first published: Wednesday, January 31, 2018, 14:01 [IST]
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