The course of bitcoin pitched after hacking an exchange platform
The piracy of an exchange platform and the suspension of the share price of another company specializing in cryptocurrencies caused the loss of almost $ 2,000 in the value of bitcoin.
After several weeks of exponential growth, the rise in bitcoin prices broke briefly overnight on Tuesday. Its level lost nearly $ 2,000 in the space of a few hours, from $ 17,600 to $ 15,600, before recovering. On Wednesday morning, bitcoin traded again around $ 17,000.
Two events are at the origin of this jolt. In South Korea, a cryptocurrency exchange platform, Youbit, announced that it had been hacked into a computer hack, forcing it to shut down. Almost 17% of its assets were stolen. This is the second attack of its kind on the platform. It had been stolen nearly 4,000 bitcoin in April. Assets still available will lose about 75% of their original value, according to the company.
Suspicions of manipulation
In addition, in the United States, the federal government's Securities and Exchange Commission (SEC) on Tuesday suspended Crypto, a cryptocurrency trading platform, for alleged price manipulation. . The level of its stock market action has exploded by 17,000% in three months. The SEC accuses the company of taking advantage of investors' interest in cryptocurrencies without clearly explaining the content of its activities or the exact remuneration of its shareholders. This suspension must last at least until January.
Bitcoin is what is called a cryptocurrency, a virtual currency. It can be bought and resold via online platforms. Its particularity is that its course is independent of any central bank: all transactions are verified by the "nodes" of the network, that is to say the computers of cryptocurrency users. It is thanks to this system, which relies on a so-called "blockchain" technology, that bitcoin payments are secured. Bitcoin is not the only cryptocurrency that exists on the Internet. It is nevertheless the most popular example, and the most lucrative.
In a year, the value of bitcoin has multiplied by 20, causing intense speculation but also many concerns. Monday, the French Minister of Economy expressed his desire to frame this cryptocurrency, which is regulated by any central bank or competent authority. The G20 could soon think about a common legal framework.
I think Bitcoin just loses to the competition...
So outdated compared to the alternatives!
I wonder - don't you think that Coinbase adding BCH has something to do with it? many people felt pressed to sell BTC in order to get BCH in my opinion.
Any way - thanks for your opinion, I'm sure it covers at least a big portion of the reason for that fall.
follow for follow and vot for vot
https://steemit.com/@barbara12
Expect every tiny detail of anything that can possibly go wrong with blockchains to be on every public mainstream media outlet. Media and mainstream investment look at this phenomenon as a fad, at best a curiosity. The "average" person, that being the previously economic disenfranchised unwashed masses are the reason for the takeoff. If people are waiting for establishment's blessing or praise of this option to short sell the status quo have another thing coming.
Speaking of hacking, how about glitches. I think something might be up with Coinbase. Look at my most recent blog about this. Just noticed in the past few hours.
https://steemit.com/bitcoin/@yomaicoin/make-a-usd1000-in-seconds-on-coinbase
Thanks for following me. Rad article!