..

Bitcoin Plunges Over 40 Percent on News of Ban

Written by:
Guest
Published on:
Mar/28/2018

Though rebounding slightly over Tuesday's low of $7797, the cryptocurrency bitcoin is down more than 40% on the year.  A series of negative news stories, including word that social media platforms such as Facebook and Twitter as well as Google will be banning ads for ICOs, have led to the decline in price. 

The crypto bigwig started the year around $13000 and has fallen around 42% since that time.

The announced ban by Twitter, Facebook and Google is meant to cut down on fraud by ICOs, also known as Initial Coin Offerings.

A number of such ICOs have scammed investors out of signficant amounts of money in past months.

Watch below for more

Business/Financial News

Critics Question Utility’s Bitcoin-Mining Data Center

Missouri’s largest utility has set up a data center at the site of one of its coal-fired power plants that it is using to mine the Internet for bitcoins.

Mastercard Expands Cryptocurrency Services With Wallets, Loyalty Rewards

Mastercard Expands Cryptocurrency Services With Wallets, Loyalty Rewards

Mastercard Inc said on Monday it would allow partners on its network to enable their consumers to buy, sell and hold cryptocurrency using a digital wallet, as well as reward them with digital currencies under loyalty programs.

Bitcoin Notches Record High, Day After U.S. ETF Debut

Bitcoin Notches Record High, Day After U.S. ETF Debut

Bitcoin climbed to a record high on Wednesday, and the first U.S. bitcoin futures-based exchange-traded fund (ETF) built on gains after a solid debut on Tuesday.

Bitcoin Bull Mark Yusko Sees Trouble at $60,000

Bitcoin Bull Mark Yusko Sees Trouble at $60,000

Speaking to CNBC this week, hedge fund manager Mark Yusko believes investors will take profits due to the cryptocurrency’s sharp rally over the last few weeks.

U.S. Becomes Largest Bitcoin Mining Centre After China Crackdown

U.S. Becomes Largest Bitcoin Mining Centre After China Crackdown

The United States has overtaken China to account for the largest share of the world's bitcoin mining, data published on Wednesday by Britain's Cambridge Centre for Alternative Finance showed.

Syndicate