Bitcoin rebounds after last week’s fall

The best known cryptocurrency is over $16,000 Tuesday at the end of the day after a vertiginous drop of 30% Friday.

Bitcoin continued its recovery in trade expanded slightly Tuesday, reviving the US $16,000 threshold to recover from its worst weekly performance since 2013 accused last week.

The largest and best known cryptocurrency plunged 30% Friday to hit a low at 11,159.93 dollars on the trading platform Bitstamp, based in Luxembourg.

At the end of the afternoon, it advanced Tuesday by 15.81% to 16.110 dollars. The bitcoin has seen its value multiplied by 20 since the beginning of the year, from less than 1,000 dollars to 19,666 dollars on Bitstamp and more than $ 20,000 on other platforms exchange.

Warnings

While some analysts and investors believe that the correction last week was natural after the surge that preceded it, market regulators and central bankers multiply warnings.

The president of the Israeli Financial Regulatory Authority (ISA) announced on Monday that he would propose to ban listing on the Tel Aviv Stock Exchange companies based on bitcoin and other virtual currencies.

No risk for financial stability

The bitcoin, on which there are now futures, does not represent a threat to financial stability, said last week monetary officials and British and American Financial.

France said it would ask the G20 presidency to hold a summit debate in April 2018 on the regulation of bitcoin , described by critics as speculative bubble about to explode.

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About the Author: BJ Hetherington

BJ is the lead editor of Crypto Post Gazette. Fluent in French and proficient in Spanish and Arabic, he focuses on mobile trends and tech innovations. BJ is a graduate of York University In Toronto. BJ was an early adopter of cryptocurrencies having bought 100 bitcoins in 2010. To contact BJ, just click here

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