Bitcoin price LIVE: BTC 'halcyon days are over' as experts blame $400 million!

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BITCOIN has yet to register any real movement from yesterday's price low with Ethereum down at $452 and Ripple down at $0.58. The recent downturn has led one City trader to declare that the “halcyon days of Bitcoin performance seem long gone”.

.30am MORNING HEADLINES

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The slow slide of bitcoin has surprised cryptocurrency experts, who - although familiar with price volatility - are not so comfortable with a steady and rather lifeless price fall.

Jordan Hiscott, Chief Trader at ayondo markets told Express.co.uk that the "halcyon days" when BTC gained $1,000 a day in the run-up to US Thanksgiving now "seem long gone”.

He said: "Bitcoin moves lower yet again, now trading at $7,900 and down from $13,275 since the beginning of the year.

"Certainly the halcyon days of performance gains from 2017 seem long gone, and in my view, this could be the situation for at least six months.

"My theory is based on the situation regarding the liquidation of the Mt Gox Exchange, and the appointed trustee to handle the bankruptcy.

"Colloquially, this individual is known as the Tokyo Whale, and he has already sold around $400 million worth of both Bitcoin and Bitcoin Cash, and is likely the main catalyst for this year’s move down.

“Interestingly, there is still around three times this amount of Bitcoin to potentially to hit the market. With this kind of volume yet to surface, in my view, prices on Bitcoin will remain depressed until this situation has been resolved.”

Updates below throughout the day....



10.50am - UPDATE - BTC back at $8,000

Bitcoin is back at $8,000 marking a $268 rise on the day so far.


9.30am - UPDATE - Estonia a crypto-friendly country?

The small Baltic republic of Estonia is reportedly leading the way with bitoin and digital currencies.

Named ‘the most advanced digital society in the world’ by Wired, Data Driven Investor claim that Estonia has been making strides to actively encourage those “new” technology to interweave with its economy and citizens.

The small Baltic republic actively encourages the creation of a digital economy and Estonian President Kersti Kaljulaid has argued traditional governments could become obsolete if they do not get onboard with new technologies like blockchain networks, which are redefining contracts, recordkeeping and economics.

The press release claims that thanks to its fair regulations, at the moment Estonia offers one the most favourable environment to smoothly run a crypto-business.

8.30am - UPDATE - BTC addresses to get terror branding

MIT Technology Review report that bitcoin addresses could be added to America’s financial “bad guy” list alongside terrorists, drug traffickers, and agents of nations under economic sanctions whose assets are blocked.

Last week the US government quietly issued a shift in policy. The change said the Department of Treasury’s Office of Foreign Asset Control “may add digital currency addresses” to a list of “specially designated” criminals.

Source: https://www.express.co.uk/finance/city/938076/Bitcoin-price-ripple-cryptocurrency-ethereum-BTC-to-USD-XRP-news