With only a few days left until Bitcoin’s average bear market cycle is over, it comes as no surprise that the Bitcoin market has been going up and down a lot today, February 15, 2018. From its opening value of $9,400.00, it has reached its lowest so far at 1:00am and its highest at 9:30am with the lowest just being $9,300.00 and the highest almost breaking $10,000.00 at $9,957.35!
Bitcoin’s value surge can attributed to some positive news about the cryptocurrency lately.
South Korea Will Not Ban Cryptocurrency Exchanges
One of the biggest news that had a negative impact on Bitcoin recently was that of the South Korean government banning anonymous cryptocurrency trading. This has led to a lot of speculation that the economic giant was planning on banning cryptocurrency exchanges altogether.
However, news has come out that South Korea is now planning on adopting a Crypto Exchange Licensing system much like that of New York. Though the final decision is expected to be made later on before their elections in June, this is positive news as it shows that the country is considering working with digital currency instead of against it.
US Senate Hearing on Cryptocurrency with Optimistic Results
On February 6, 2018, in a senate hearing, the long-term outlook on cryptocurrency markets and blockchain technology and the advantages of a Bitcoin futures market were discussed. Also discussed was the possibility for digital currency to be regulated to make it safer and protected from fraud and manipulation. The hearing finished with an optimistic tone for digital currency.
With all these positive news surrounding Bitcoin lately, it won’t be surprising if Bitcoin will hit $10,000.00 anytime soon. What do you think?
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