Crypto News | Bitcoin price steady on Monday

A few words on the value of bitcoin are in order at the start of our article today. As you know, bitcoin is still the biggest and most important cryptocurrency – it has the highest price and the largest market value in the whole industry. In mid-December bitcoin hit its high of $19,850, but within days it fell below $12,000. On Monday, however, we could see Bitcoin price steady at the moment at $12,206.54. Since it’s extremely volatile, experts think that the price might oscillate some more with time. If you’re into cryptocurrencies and trading, now you might take your chance. Finding bitcoin price steady and low in comparison with some past prices, means that now might be the good time to buy.

The second piece of news today comes from Lithuania. The country’s central bank has launched a news-regulators “sandbox” for startups working with blockchain technology. The initiative is called “LBChain” and will develop a platform that enables companies to develop their own services. That way institutions provide firms with financial products that are yet to be fully tested, but in a limited setting and under the supervision of regulators. This platform should be launched in 2019 with support of the European Union.

As for other news, we bring you some information on Chinese economy. According to the latest statistics, China’s economy will probably slow down this year. The forecast for its growth is 6.5 percent in 2018. Last year Chinese government made some interventions, so their growth was bigger than it was expected.

As for Asian shares, it seems they hit once again a record high. MSCI’s MIAPJ0000PUS was up 0.5 percent and it hit its record high, continuing good results from previous sessions. European stock futures stayed the same, but some other, such as DAX and FTSE futures, jumped a bit. Australian shares fell 0.5 percent because their miners were pressured by weaker Chinese iron ore prices. Japan’s Nikkei .N225 rallied 1 percent and has good expectations for corporate earnings.

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Author: Max Rothstein

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