Bitcoin price LIVE: BTC falls from $10k high but experts herald ‘renewed energy’ | City & Business | Finance
7.30am MORNING HEADLINES
Good morning, and welcome to our rolling coverage of all things cryptocurrency, including price, regulation, innovation and financial crime.
Bitcoin is priced at $9,854, a $162 loss on the day so far. Ethereum is at $923 and Ripple is priced at $1.17.
However, despite the slight slip, bitcoin commentators are heralding this return to the symbollic $10,000 mark as proof of, “enewed energy in the crypto market”.
Iqbal Gandham from eToro, told Express.co.uk that BTC has now shaken off some of the volatility from the start of the year.
He said: “We believe we have turned a corner, particularly off the back of news that regulators in the USA, Singapore, and South Korea have no plans to ban cryptocurrencies.
“The reality is that emerging technologies carrying radically new ideas will always see swings in their value before their potential is fully realised and the price stabilises. But the potential of blockchain technology is becoming increasingly clear to everyone from central banks, hedge funds, governments, to big incumbents, so we’d expect the price to climb higher still.”
Christopher Keshian, CEO of $APEX Token Fund, said that bitcoin is now at levels similar to what we saw last year, prior to the incredibly aggressive bull market in the latter part of 2017.
Mr Keshian says that prices are settling after hitting and, “outlying and momentarily unsustainable growth curve”.
He said: “It is only through corrections that we will see the Amazons and Googles of cryptocurrencies appear. Sell-offs are important as they reveal those investment products which are badly structured and those which can whether volatility and will help to build a valuable, lasting and useful tool in global infrastructure.
“Weaker projects and investment managers will not be able to survive during lean times that test their true mettle. The tech underpinning cryptocurrencies is real, the marketing is not. A low tide reveals this distinction and lays bare the foundation – or lack thereof – of a project.
“Ultimately, we believe cryptocurrencies are in a bull market – but that the upward curve will be jagged one.”
Updates below throughout the day….
9.16am – UPDATE – Coinbase users ‘freaking out’ over fees
Coinbase customers are up in arms after the popular exchange allegedly withdrew money out of their accounts.
In some cases the debits drained their linked bank accounts below zero, resulting in overdraft charges.
Users flocked to Reddit said: “My bank account went from very comfortable to negatives balance, not to mention extra $5 charges, and overdraft fees.”
“As a result my rent check bounced, and my bank went further into negative for a NSF charge for $25. My landlord is not a nice person and is on my CASE and I have nothing to offer him. I am FREAKING OUT.”
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