Bitcoin Values Hit New Highs Following Early February Slump

Andrew Cummings
February 23, 2018

Cryptocurrencies don't sleep, they're literally always moving and if recent history is any indication, they're prone to seismic price moves in a very short space of time.

In fact, there is an excellent website called 99bitcoins.com that started charting the predictions that Bitcoin would disappear back in 2014.

The movement of BTC against the Dollars aside, the world of Bitcoin wasn't tiresome at all this past week. Last December, the value of bitcoin reached almost $20,000 - that's about $2,000 more than the typical cost of attendance for a full-time student at a community college in 2017-2018.

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Although the values of cryptocurrencies such as bitcoin have plummeted since then, interest in these currencies remains high - especially among college students. It is anticipated that this will be a major talking point when world leaders meet at this year's G20 Summit in Buenos Aires in March. This week, the cryptocurrency got a boost after an unknown investor bought $344 million worth of bitcoin between February 9 and February 12. Meantime, the U.S. authorities have begun an investigation of the Bitfinex exchange over its links to Tether, which is rumored to being used to artificially inflate bitcoin prices.

There is more than one way to participate in cryptocurrencies, however, and not all of them involve actually buying the digital assets directly. "We owe it to this new generation, to respect their interest in this new technology with a thoughtful regulatory approach." . Ethereum (ETH) and the remaining top 20 currencies all posted significant losses today, and only Monero seems untouched by the crash.

According to Rob Joyce, White House cybersecurity coordinator and special assistant to the president, US still has a long way to go before bitcoin is regulated in the country.

And he isn't alone. Bitcoin has traditionally dipped in the days before the New Year. The recovery of Bitcoin is following the "V-shaped" pattern of ups and down, he said. According to remarks made at the Startup Grind conference, Claasen projected that BTC will reach a high of $40,000 by year's end.


"It's the idea that I believe in, that it's a better solution - a better currency - than what we have", Sedillo said. He intimated that people were already getting wiser by scrutinizing all crypto projects before investing.

Joyce may just be phrasing what he's saying a bit incorrectly, as Bitcoin transactions absolutely are tracked an not anonymous as such. If this trend continues throughout the week, it will likely hit the $15,000 price by next weekend.

It is worth noting that 2017 ended nearly triumphantly for the cryptocurrency market, with a rise in prices, growing media attention, the launch of Bitcoin futures and expectations of money inflow from institutional investors.


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