RATE Group | Bitcoin price: Cryptocurrency begins to rise in value – could it reach highs of last yea…
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Bitcoin price: Cryptocurrency begins to rise in value – could it reach highs of last yea…

21 Sep Bitcoin price: Cryptocurrency begins to rise in value – could it reach highs of last yea…

Posted at 20:09h in Bitcoin News by

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The price of bitcoin fell below $6,000 (£4588.80) in August, the lowest it had been for the whole of 2018.

Since the beginning of the year, the cryptocurrency has suffered a significant loss and is currently trading at $6,717.65 (£5137.66) at the time of writing, according to industry site CoinDesk.

Business Insider recently reported Goldman Sachs were stalling plans for a crypto trading desk on hold, which caused Bitcoin to drop in value by five percent and triggered the top five cryptocurrencies by market cap to fall by more than 12 percent.

Goldman Sach’s CFO Martin Chavez declared the reports to be “fake news.”

Rumours the investment bank are implementing a crypto trading desk in order to make markets in digital currencies, like Bitcoin, have been rife since December 2017.

With reports and revelations of hacking causing the currencies value to fluctuate, Bitcoin has lost 50 percent of its value since the beginning of 2018.

In January BC was trading at $14,112 (£10,745).

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