News From The Crypto Currencies Scene

Bitcoin Value Tumbles Down Again

Bitcoin Value Tumbles Down Again

January has been a rollercoaster ride for the Bitcoin and many other cryptocurrencies, as most started out by declining in value - The Bitcoin all the way down to $165 at its lowest point. That changed for the Bitcoin however, as great news broke out about Coinbase being the first regulated Bitcoin exchange in the US. 

Coinbase wasn't telling the full truth however, as they are not officially licensed and regulated in all of the states which they claimed, as it is currently not possible to actually receive a license with cryptocurrencies. This led to yet another bad Bitcoin story and within 48 hours the biggest story in a while was only a mediocre story due to the turn of events.

With the good news came an instant boost in value to around $300 per Bitcoin, but as the story got shot down by the California Department of Business, so did the value. The Bitcoin is now at levels of around $220-$240 where it seems it has stabilized, at least until yet another bad story about the Bitcoin comes out.

The positive aspect of all of this is the fact that companies continues to invest heavily into the Bitcoin industry, which shows that they are willing to take the swings in order to support a new cheap, efficient and safe method of transferring money or paying with it. Let's hope 2015 will be the year where we will see the Bitcoin become fully mainstream.

News by Daniel Allermand
Daniel Allermand - Reporter

Daniel Allermand is a freelance writer, with more than 4 years of experience in the industry as an operator, affiliate and poker player. Daniel has decided it was time to try and bring more coverage about the industry to the general public by writing articles about everything from poker to casino.


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