What’s happened to bitcoin
since its all-time highs?
Bitcoin reached a record high of $20,000 USD in December 2017,
but its path since then has been anything but straightforward.
Published 25 January, 2018.
Cryptocurrency has enjoyed a period of unprecedented growth and success, the likes of which would be unfathomable for any other asset class.
Bitcoin began 2017 trading at $1000 USD on January 1st, 2017 before reaching a record high just above $20,000 USD in December 2017, then suddenly crashing down to below $12,000 USD in January 2018.
As the price grew, so did attention and notoriety. Governments across the world have begun to shift attention to cryptocurrency, where public statements can have wild effects on price.
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Around the world, cryptocurrency regulation will intensify in 2018.
As South Korea continues its regulatory measures, China prepares to limit domestic mining operations, the BitConnect exchange closed its doors after U.S cease-and-desist notices — and tax departments in Australia, India and the U.K, are looking closer at the asset class.
Indonesia has warned its citizens of the high risks surrounding cryptocurrency trading, while the French Finance Minister has announced plans to draft new rules.
Meanwhile, the director of Germany’s Central Bank believes that international cooperation is the only way to address the issue, stating that:
“Effective regulation of virtual currencies would only be achievable through the greatest possible international cooperation, because the regulatory power of nation states is obviously limited.”
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