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Bitcoin rises above $10,000, strategist sees new high by July

NEW YORK: Bitcoin rose above $10,000 on Thursday for the first time in more than two weeks, as investors bought back the digital currency after having fallen 70 percent from its all-time peak hit in mid-December, reported Reuters. Bitcoin has been buffeted this year by a series of negative headlines centering around increased scrutiny by…

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Bitcoin bounces back from three-month low in volatile trade

NEW YORK: Bitcoin rallied from three-month lows below $6,000 in choppy trading on Tuesday, but worries lingered about a global regulatory clampdown and moves by banks to ban buying bitcoin with credit cards, reported Reuters. On the Luxembourg-based Bitstamp exchange, bitcoin hit $5,920, its lowest since mid-November, before recovering to above $8,000 BTC=BTSP. It hit…

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Bitcoin drops below $6,200 for first time in three months

TOKYO: Bitcoin plunged 20 percent to a three-month low on Tuesday, its latest sharp loss following a series of setbacks for the cryptocurrency that, with a collapse across global mainstream markets adding to the selling. The virtual currency fell to $6,190 for the first time since mid-November, according to Bloomberg News, and represents the latest…

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China looks to stamp out cryptocurrency trading

BEIJING: China plans to stamp out all remaining cryptocurrency trading in the country by blocking access to overseas-based websites and removing related applications from app stores. The moves were outlined in a report Sunday by Financial News, a publication under the People’s Bank of China, which said the aim was to snuff out the “dying…

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Bitcoin set for worst week since 2013

LONDON: Cryptocurrencies plunged on Friday, with several of the largest falling by more than 20 percent and bitcoin sliding below $8,000 and headed for its worst week since 2013, as worries about a regulatory clampdown globally sent investors scrambling to sell. The slump in prices this week means the total market value of cryptocurrencies is…

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India vows to eliminate use of cryptocurrencies

NEW DELHI: India will move to stamp out use of cryptocurrencies, which it considers illegal, Finance Minister Arun Jaitley said on Thursday, launching a no-holds-barred attack on virtual currencies such as Bitcoin.  Governments around the world are grappling with how to regulate cryptocurrency trading, and policymakers are expected to discuss the matter at a G20…

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Insurers gingerly test bitcoin business with heist policies

Major global insurers are starting to offer protection against cryptocurrency theft, willing to tackle daunting challenges it brings rather than miss out on this volatile and loosely regulated, but rapidly growing business. So far only a few insurers sell such insurance, including XL Catlin, Chubb, and Mitsui Sumitomo Insurance . Yet several others told Reuters…

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Biggest cryptocurrency theft ever

TOKYO: A Japanese exchange has lost 58 billion yen ($530 million) in cryptocurrency because of hacking, according to Japanese media reports. The hack and the loss of the currency is one of the biggest losses of assets since the launch of Bitcoin in 2009. The Coincheck exchange said on its website Friday that it had…

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Bitcoin hits 6-week low on crackdown fears

Paris: Bitcoin, the best known of hundreds of ‘virtual’ coins, slumped Tuesday to a six-week low below $12,000 as analysts blamed a rush by various jurisdictions to regulate the sector. The final weeks of last year were marked by bitcoin mania as the unit topped $20,000, but it lost some 20 percent in Tuesday trading…

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Bitcoin could be coming to Facebook: Zuckerberg

NEWS DESK: The technology powering bitcoin could help improve Facebook in the future, Mark Zuckerberg has said, reported The Independent. As part of a commitment to help fix the site over 2018, its founder said that he would look into the use of new technology to stop it being quite so centralised. One of those…

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Bitcoin is forbidden in Islam, says top cleric of Egypt

LE CAIRE: Egypt’s grand mufti has said that bitcoin is forbidden in Islam, warning the digital currency could be used for criminal purposes. Bitcoin, launched in 2009 and based on a peer-to-peer payment system, poses “high risks to individuals and states,” Shawqi Allam said in a published ruling. It could provide “stable and secure financial…

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Singapore bar offers bitcoin New Year party package

SINGAPORE CITY: A Singapore bar that bills itself as the world’s highest cryptocurrency club is offering a New Year’s Eve package that includes a limousine pick-up and butler service — but it’ll cost you a whole bitcoin. Skyline, on the 45th floor of a skyscraper overlooking the city-state’s glittering waterfront, is promising partygoers a luxury-filled…

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Bitcoin rises 10 percent, recovers from last week’s brutal selloff

SINGAPORE: Bitcoin extended its recovery in holiday-thinned trading on Tuesday, rising 10 percent to be up more than a third from last week’s lows below $12,000, reported Reuters. Bitcoin, the world’s biggest and best-known cryptocurrency, fell nearly 30 percent at one stage on Friday to $11,159.93 BTC=BTSP and, despite a late recovery, had its worst…

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Cryptocurrency stocks holding gains despite bitcoin pullback

Stocks that surged in recent weeks because of the cryptocurrency mania have managed to hold onto most of their gains despite the recent retreat in the price of bitcoin and scepticism from market participants. A Reuters analysis of 17 stocks of companies that have made blockchain or cryptocurrency announcements showed an average gain of 224…

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Bitcoin plunges as investors suffer ‘reality check’

Bitcoin prices plunged by more than 20 percent on Friday as investors cashed out just before Christmas following the wildly volatile currency’s stratospheric rise in recent weeks. The precipitous drop came after a series of warnings by analysts and governments about a bubble that could burst at any moment as investors, many inexperienced, piled into…

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North Korea suspected of South Korean bitcoin hack

NEWS DESK: North Korea is being investigated for possible involvement in a massive cyber-attack on a South Korean currency exchange this week, reported The Independent. The Youbit exchange shut down and collapsed into bankruptcy on Tuesday after hackers stole 17 per cent of its assets. Youbit was also hit by an attack in April that…

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Bitcoin extends losses, slips below $14,000 on Bitstamp exchange

FILE PHOTO: A copy of bitcoin standing on PC motherboard is seen in this illustration picture, October 26, 2017. REUTERS/Dado Ruvic/File Photo TOKYO: Bitcoin fell more than 10 percent to below $14,000 on the Bitstamp exchange on Friday, extending overnight losses, reported Reuters. It was last down 11 percent at $13,872. The cryptocurrency, which was…

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Bitcoin falls almost 20 percent from recent peak to 1-week low

FILE PHOTO: A copy of bitcoin standing on PC motherboard is seen in this illustration picture, October 26, 2017. REUTERS/Dado Ruvic/File Photo TOKYO: Bitcoin fell more than 10 percent on Wednesday to a one-week low of $15,800 at cryptocurrency exchange Bitstamp BTC=BTSP, losing almost one- fifth of its value from a peak hit just three…

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US regulator suspends trading of popular bitcoin-linked stock

The US Securities Exchange Commission on Tuesday suspended trading of a popular bitcoin related stock that has soared in recent weeks, citing concerns about market manipulation. The Crypto Company’s share price had risen an eye-watering 1,700 percent, from $3.30 to $575 between the end of September and Monday evening before the SEC intervened to halt…

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Bitcoin hits bigger stage as exchange giant CME launches futures

NEW YORK/SYDNEY: Bitcoin futures received a lukewarm reception at its launch on the CME Group Inc on Sunday, although market experts believe a recent rally in the cryptocurrency has further to go, reported Reuters. The CME bitcoin front-month futures contract did open higher at $20,650, but dropped 6 percent within the first half hour. The…

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Hotly anticipated bitcoin futures surge 21 percent on debut

A Bitcoin (virtual currency) coin is seen in an illustration picture taken at La Maison du Bitcoin in Paris, France, June 23, 2017. REUTERS/Benoit Tessier/Illustration NEW YORK/SYDNEY: Bitcoin futures jumped more than 20 percent in their eagerly anticipated U.S. debut, which backers hope will encourage wider use and legitimacy for the world’s largest cryptocurrency even…

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