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Sept 12th Cryptocurrency News- Bitcoin's Ups & Downs

1,189 views · Published 12 September 2017 · 3:06 · Indexed 31 October 2026

Channel: NEWSBTC · 2017 · People & Blogs

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There has been some panic recently over China’s crackdown, but let’s not forget that bitcoin started this month on a bullish note, hitting a record high of $5,000 on some exchanges. Bitcoin has definitely had some ups and downs recently. So Let’s take a closer look. Bitcoin is looking a bit brighter as it climbed over $4,300 today. We saw it suffer another fall recently after rumours took over the internet about China’s plans to ban commercial trading of bitcoin and other virtual currencies on domestic exchanges. This information was provided by private anonymous sources to major media outlets, so cryptocurrency exchanges are still waiting for clarification and official information from the government. Ethereum is looking better today as it climbed past $300. Yesterday it was under 300. Tether and Ethfinex have joined forces to launch the Tether ERC20 token on the Ethereum blockchain. Tether ERC20 will allow tokenized US dollars to be exchanged on the Ethereum network for the very first time. Bitcoin Cash is also trying to move higher, closer to $560. Last Thursday, we saw it surpass the 700 level. Litecoin is also looking much more positive today as it reached $70, last week we saw it hit $80 before falling lower. 

Many remain bullish on bitcoin, so let’s take a look at some of our bitcoin bulls. American hedge fund manager Kyle bass is confident that bitcoin is here to stay, despite being sceptical about the digital currency a few years ago. During the Real Vision podcast, he said “My conclusion now is that bitcoin is a digital asset and I think it is here to stay. There is a digital gold rush going on, mostly speculators who are speculating with personal capital because there is no institutional custodial framework (yet) for digital assets and no insurable custodial relationship that satisfies securities rules for pension funds, endowments and hedge funds.
Let’s see what else is happening in the cryptocurrency world, the Swiss municipality of Chiasso will accept tax payments in bitcoin starting from January. It is following in Zug’s footsteps, but payments will be restricted to 250 CHF, which is still slightly higher than Zug’s limit for tax payments in Bitcoin.

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