DAXION community™

January 10th, 2018
Bitcoin continues sinking, down 30% from peak as China & S.Korea consider strangling industry

The most valuable cryptocurrency, bitcoin, is falling for the fourth straight day. It is also 30 percent down from the record $20,000 tracked on December 17.

• Bitcoin was trading at USD$14,400 on Wednesday, on the time of writhing this article on Friday, January 12th it is at USD$13,971 on XE.
• Bitcoin dominance in the cryptocurrency market; only 34 percent of digital money is now bitcoin. On the same day last year, its share was 85 percent [Wed, 10.01.2018].
• Investors are fleeing bitcoin because of the rumours that regulators in both China and South Korea are on the verge of cracking down on the industry.
• China and South Korea have a dominant share of the global cryptocurrency trade.
• Regulators in China plan to kill the country’s bitcoin mining industry, as Beijing is concerned about excessive electricity consumption, financial risk and capital outflows.
• Some other cryptocurrencies have been hit, too. Among them were Ripple and Cardano, which slid 25 percent and 19 percent respectively on the previous day.
• By contrast, the second-largest cryptocurrency, Ethereum, has grown 84 percent since the New Year and was trading near its record high of $1,390.

Read full article at RT.com here:
https://www.rt.com/business/415441-bitc ... ina-korea/