Blockchain

Bitcoin Hits Lowest In Two Months, You Know Why?

Bitcoin went down by 55 percent compared to its peak value in December

bitcoin price

Is Bitcoin hype is finally over? As of Thursday, the Bitcoins reported its lowest value by taking a dip below $900. At the time of writing of this article the one coin worth $8326.88 that is the lowest since November. The sudden plunged made the crypto investor worried as it went down by 12 % just in the last 24 hours.

The digital currency that was making a huge noise in the financial and the tech world since November hit the lowest value. In December the Bitcoin touched the peak value by going upto $20,000 and took the investing world by storm. But, the recent scams and other incidents raised a question over the cryptocurrencies. The latest fraudulent activities related to the cryptocurrencies have rooted a fear in the investor's mind. However, all these did not center Bitcoins specifically, but almost all the digital currency got majorly affected. Even, some of the cryptocurrencies have experienced the fall by two digits in last 24 hours.

The sudden drop in Bitcoin's value was seen immediately after the Facebook's announcement of banning crypto ads. On Tuesday, Facebook announced that it was banning all the ads that promote bitcoins and also all ICO’s. The tech giant has shared that it wanted to save its users from any fraudulent activity by saying,”We want people to continue to discover and learn about new products and services through Facebook ads without fear of scams or deception”. Along with this, the Securities and Exchange Commission has banned a cryptocurrency project named AriseBank. According to the reports, AriseBank has raised  $600 million till now, but the commission has reported it fraud project as the reason to shut it down.

Moreover, one of the popular cryptocurrency platforms that help in trading Bitcoins, Tether was also under the investigation by regulating bodies. Another Crypto-trading website knows as BitFinex received a summoned by the Commodity Futures Trading Commission back in December.

Continuous questions over the cryptocurrency platforms have raised a big concern in everyone's minds. These incidents combinedly have impacted the prices of the Bitcoins and caused a sudden drop.

Vikram <span>Content Manager</span>
Written By
Vikram Content Manager

Vikram is an experienced wunderkind, who embraced technology at a very early age, and today he is at the helm of it. Mobile apps are something that excites him the most, and now he is up to give this vertical the best shot. He routinely catches up with the new apps and comes up with the top apps that can excite you to the core.

Blockchain

EOS vs Ethereum Battle: Can We Predict The Winner?

4 min read  

Cryptocurrencies have a history of their own. They follow a decentralized transaction and eliminate the intermediaries that very often become a part of any financial transaction. Well, I am not here to brag about what cryptocurrencies do but to hold your attention on an even more exciting topic, EOS

Blockchain

Facebook’s Cryptocurrency Libra: What Is It and How Does It Work?

4 min read  

This Tuesday, June 18, 2019, Facebook co-founder and CEO, Mark Zuckerberg, officially announced its plans to release a new digital cryptocurrency of its own, called Libra, in 2020. Facebook had been stealthily working on building its worst-kept secret, Libra, for over a year and it indeed did big, t

Blockchain

Why Blockchain Platforms are Becoming a Priority for Investment?

4 min read  

The cybersecurity industry has lately been buzzing with security concerns daunting the digital age. Incidents such as the Kaspersky Lab fiasco where the Department of Homeland Security (DHS) issued a directive on Sept. 13 banning the use of Kaspersky Lab software at federal agencies, is making enter

Blockchain

Neutrino Gets Acquired By Coinbase In A Bid To Boost Security

2 min read  

Coinbase, a digital currency exchange has added another feather in its cap by acquiring blockchain technology's intelligence startup, Neutrino. The acquisition amount paid by the world’s most valuable crypto company is not disclosed yet.The new move will also help Coinbase to add more

MAD Originals
MAD Originals

Cut to the chase content that’s credible, insightful & actionable.

Get the latest mashup of the App Industry Exclusively Inboxed

  • PRODUCTS
  • SERVICES
  • BOTH