Bitcoin claws its way back from 4-month low
12 February 2018 | 5:14 am
Bitcoin clawed its way back from the four-month low of $5,922 it touched on Tuesday, rebounding 53 percent to $9,069.
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12 Jun 2021
The Congress of El Salvador has approved a law that will classify bitcoin as legal tender in the Central American country, its president said, making it the world's first nation to adopt a cryptocurrency.
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Chinese authorities have told all crypto mining to stop, citing speculation risk and power consumption concerns. The move has hurt the share prices of Bitcoin and others.
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The price of Bitcoin dropped below the all-important $30,000-mark after China made several moves to rein in the cryptocurrency. The fall could trigger a sell-off, but experts say China isn't as important as it once was.
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What's up with Bitcoin? It's down, dropping to its lowest level since January after China announced a crackdown on cryptocurrency mining. Is it, as stated, about going green and cooling it in the nation that's home to an estimated two-thirds of the energy-sucking giant computer servers that create virtual currencies? Or is it about reining in a cottage industry that is out of not only Beijing's control, but that of central banks and regulators the world over?
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El Salvador has become the first country in the world to make Bitcoin legal tender, despite surveys showing widespread scepticism about the move. The government has invested more than $20 million in the cryptocurrency in recent days, saying it will open up access to banking for many Salvadorans. Bitcoin will be accepted for payments in parallel with the US dollar. Also today, millions of Americans have lost their unemployment benefits as several pandemic-era welfare programmes have expired.
The value of Bitcoin has plunged by more than 10 percent after El Salvador on Tuesday became the first country in the world to accept the cryptocurrency as legal tender. The launch was marred by protests and technical difficulties with the digital wallet app, which had to be taken offline for several hours. Also today, we report on tourism businesses in the southwest of France that have benefitted from the recent spell of good weather, which has prolonged their summer season.
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