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Bitcoin Price: UK and Indonesia Causing Market Turbulence

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Bitcoin Price: UK and Indonesia Causing Market Turbulence

Post by Vladdirescu on Wed Dec 06, 2017 4:48 am

It seems Bitcoin has fully recovered from the major $9,000 price correction. As of the time of writing, the BTC price at CoinMarketCap amounts to $11,931, which is another all-time high.

Such turbulence in the market was caused by the UK and Indonesia this time. Despite these markets not being the largest in the cryptocurrency industry, their attempts to regulate Bitcoin have caused its price to surge again.

The U.K. Treasury aims at expanding its anti-money laundering and counter-terrorism regulations to cryptocurrency. As digital money suggest anonymity and privacy, it is quite easy to use them for criminal purposes. These new regulations will ensure trading platforms comply with government rules, thus preventing the usage of cryptocurrency for crime. Despite the fact that some might think it is an attempt to centralize the industry, in fact, this might be a benefit, as regulations might ensure an increase of trust in Bitcoin and other forms of digital money.

The Central Bank of Indonesia, on the other hand, is planning to impose a ban on all cryptocurrencies to prevent people from using them for payments.

The full article: https://coinidol.com/bitcoin-price-uk-and-indonesia-causing-market-turbulence/


Vladdirescu

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