Bitcoin inches down on weak investment demand
2018-03-13 10:34:54 GMT (Economies.com)
Bitcoin inches down on weak investment demand

Bitcoin fell on Tuesday for the second straight session, especially as prices struggle to reach $10,000 on weak investment demand. 

 

At Bitstamp, bitcoin shed $40, or 0.4% to $9,075 from the opening of $9,115, with an intraday low at $8,955, and a high at $9,482. 

 

Bitcoin closed down 4.3% on Monday, resuming the losses that lulled on Sunday for the first time in seven sessions, as bitcoin strives to pull away from one-month lows at $8,366. 

 

Bitcoin lost 19.6% last week, the second weekly loss in three, after strict regulations on cryptocurrencies from Japan and the US. 

 

Market value of cryptocurrencies hit a month low at $344 billion on Friday as most cryptocurrencies tumble, before recovering a little to $364 billion. 

 

Bitcoin -alongside other cryptocurrencies resumed their losses on Monday on rumors of potential European ban of virtual assets, before the European Commission quickly dismissed the reports. 

 

Investment demand has weakened considerably on cryptocurrencies amid constant concerns of security and hack-prevention, while some investors lament potential price manipulation in major exchanges. 

 

Otherwise, Thailand's government is finalizing a new 10% capital tax plan on cryptocurrency profits. 

 

According to sources from the financial ministry, the government is seeking to profit and increase revenue from the new business instead of outright banning it. 

 
 
 
  Symbol Last Change Chg.%
1.1657
0.0065
0.5633%
1.3263
-0.0001
0.0041%
16.445
-0.113
0.682%
69.320
4.947
7.686%
75.59
2.53
3.46%
1269.655
-10.115
0.790%
 
 
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