Bitcoin falls off three-week high, still underscored by $8000 support
2018-04-16 09:06:33 GMT (Economies.com)
Bitcoin falls off three-week high, still underscored by $8000 support

Bitcoin fell on Monday at the open on profit-taking after hitting three-week highs earlier, with losses curbed by the $8000 support. 

 

At Bitstamp, bitcoin fell $243, or 2.9% to $8,110 from the opening of $8,353, with an intraday low at $8,001, and the highest since March 26 at $8,425. 

 

Bitcoin rose 4.4% on Sunday, the second profit in a row, amid improved investment demand in the weekend. 

 

Bitcoin rallied 19% last week, the first weekly profit in a month and a half and the largest since February. 

 

Market value of cryptocurrencies fell $12 billion to a total of $322 billion, after hitting $339 billion earlier today, the highest since March 24. 

 

The market value recouped over $55 billion last week as short traders close positions to collect profits, while new liquidity enter the markets. 

 

Bloomberg reported that US "Soros Fund Management", which currently manages $26 billion of financial assets, will invest in cryptocurrencies.

 

Adam Fischer, the head of global investment at Soros Fund Management has already gotten internal approval to invest in the new cryptocurrency and blockchain technology sector, according to Bloomberg. 

 

In South Korea, authorities will launch an investigation on three local banks for their anti-money laundry measures, which were mandated recently for all banks that operate cryptocurrency accounts. 

 
 
 
  Symbol Last Change Chg.%
1.1725
0.0032
0.2762%
1.3132
-0.0099
0.7505%
15.492
-0.323
2.042%
68.170
-2.393
3.391%
73.08
0.55
0.76%
1229.980
-11.130
0.897%
 
 
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