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homerun token
Home Bitcoin News

Bitcoin bounces back as market jitters ease

Bishop eL by Bishop eL
1 year ago
in Bitcoin News, Bitcoin Price
Reading Time: 2 mins read
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On Monday morning, after a short eight week low(dip) on Sunday night, the value of Bitcoin has boomed.

Late mornings trade accounted for approximately US$53,479 for the initial blockchain, up 7.4% in the last 24 hours. Late Sunday night, the rebound preceded a sudden deep dip and saw the Bitcoin price reaching briefly US$48,452.

Since last Thursday, Bitcoin’s sharp rises have essentially eliminated all Bitcoin loss, with the new rally potentially caused by a little more good news for crypto markets than last week which saw the US administration’s regulatory concerns roused the market and higher taxes on the rich and capital gains.

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On Sunday afternoon, the head of the country’s central bank Šahap Kavacıoğlia revoked a complete prohibition of cryptocurrencies in Turkey. There might have been a glimmer of light.

In spite of the absence of a direct ban, Turkey is nevertheless still preparing for a new set of restrictions on the use of digital currency, including preventing the use of cryptography as a means of payment in order to prevent large sums of cash leaving the country.

The central bank is also likely to limit the use of cryptography to stop the fall-out value of the Turkish lira. President Recep Tayyip Erdogan has condemned it.

Followed by other big cryptocurrencies on Monday morning, Bitcoin’s rise saw Ethers rise 9.9 percent to US$2,491, while XRP, also called Ripple, increased to US$1,18, 13.3 percent, and Litecoin rise to US$244,59, up 8.2 percent. One outlier was Dogecoin crypto-inspired by meme, which has gone up to US$0.26 by 2.6 percent.

Tags: BTC

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