The bitcoin picks another 10% after plummeting last week
SINGAPORE / TOKYO (Reuters) – The recovery of bitcoin continued on Tuesday in a thin markets for the holiday season, up 10 percent and trading 33 percent above the lows last week.
The bitcoin, the main cryptocurrency the world, fell as much as 30 percent on Friday to 11,159.93 per dollar and despite a rally late in the session, recorded its worst week since 2013. At 0445 GMT on Tuesday, virtual currency trading at around $ 15,049 in Luxembourg Bitstamp platform.
The digital currency reached increase their value since the beginning of the year, rising from less than $ 1,000 levels to a maximum of $ 19,666 on December 17 in Bitstamp dollars and more than 20,000 other bags. But in the second half of December he recorded sharp declines.
While Bitcoin investors and analysts speak of a natural correction after the sharp increase since January, regulators and central banks recommend more caution.
“There is currently a current price that reflects a correct assessment,” said Andrei Popescu, founder of Singapore-based COSS, described as a platform with the features of a digital economy based on criptomonedas.
“Making profit is right, but it is also right to buy a long-term projection. One does not have to succeed in this market, just less wrong than the rest, “Popescu said.
Shmuel Hauser, chairman of the Israel Securities Authority, said Monday it will propose a regulation prohibiting companies based on digital currencies have access to the Stock Exchange of Tel Aviv.
Singapore’s central bank last week issued a warning against investing in criptomonedas, saying it believes the recent rise in prices is driven by speculation and that the risk of a sharp drop in prices is high.
Prices of rival criptomonedas, which slid along with bitcoin last week, also recovered, with ethereum , the second largest cryptocurrency by market size, trading at around $ 771, above the minimum Sunday of $ 689 but far from the highs reached $ 900 last week.
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