Bitcoin at its lowest level in six months..

kouba01 (80)in #bitcoin • 6 years ago

Prices for Bitcoin and other cryptocurrencies are expected to recover in the 2 per cent from 2018 following persistent declines so significantly this year due to tightening rules and government threats to ban virtual currencies, analysts say.

Vijay Valecha, a senior analyst at Century Fiscal Brokers, believes that the brief term forecast for Bitcoin should continue to be relatively stagnant, its expected cost to fluctuate involving $ 6,000 and $ 8,500 in 2018.

"The authorities' threats to ban cryptos, tighten restrictions and a series of current breaches of protection have led to daily life in the cryptocurrency market in the first few months. While tighter regulations and lack of stability will hinder the cost of cryptocurrencies, it is essential to note that market members favor a currency without borders and are not subject to the whims and caprices of an administration " .

Bitcoin dropped 10 cents for every penny to its lowest selling price in 2018 following the selection of Japanese regulator FSA to inquire from 6 on the cryptocurrency buying and selling platforms. most important in the region.

Bitcoin recovered a little to trade at $ 6,115 on Saturday afternoon after falling to $ 6,045.31 previously, testing the very low for the year of $ 5,922 that was established on February 6, 2018.

For some analysts this drop is the result of a warning issued by the Japanese regulators to six exchanges in the country so that they improve their identification procedures of their customers.

Concerned by these recommendations, the Bitflyer platform, one of the largest in the world, has decided to suspend the opening of new accounts:

"We voluntarily suspend account creation for new customers in order to do everything possible to improve our account management system. We sincerely apologize for any inconvenience to our customers. "

Yesterday's other information, irrelevant to the day's decline, is that the Tokyo court has issued a document stating that creditors involved in Mt.Gox's hacking in 2014 will be able to be reimbursed in cryptocurrency. but will be required to register their application before October 22, 2018. The procedure will not begin until February 2019. The liquidator should therefore no longer carry out massive sales of bitcoins.

The court announced:

"Today, June 22, 2018, the District Court ordered the commencement of civil rehabilitation proceedings against Mt Gox. As a result, the assets, which were to be distributed to Gox shareholders as part of the bankruptcy proceedings, will be returned to the creditors of Mt. Gox in civil rehabilitation proceedings. "

This announcement follows the recent hack on Bithumb allowing the pirates to disappear with more than 27 million euros in cryptocurrencies. The service based in South Korea has already indicated repaying the affected people.