Bitcoin Value Continues To Rise Even As U.S. Congress Considers Regulation

You simply cannot set foot on the internet right now without tripping over a headline involving Bitcoin, and we are no different over here at RP.

With Bitcoin having reached all time high values back in December, the cryptocurrency subsequently experienced something of a crash, but now it would seem that all of that bad news is firmly behind Bitcoin, with its value today rising above the $11,500 mark.

While it is unknown how far the Bitcoin pricing will grow, it is fair to say that it is very much on the upswing right now and continues to add around a thousand dollars of value each day of trading. The same goes for the majority of cryptocurrencies right now, too, despite news that countries around the globe continue to look at regulating them.

According to an article by Reuters, the United States may be next with Congress considering more strict federal oversight.

Reuters points out that the ever increasing value – currently, at least – of cryptocurrencies and their use in scams online and in the real world makes them of particular interest to those concerned about the new crypto future.

Virtual currencies have existed for years but speculation in them has recently ballooned, along with scams promising investors returns of over 1,000 percent in weeks.
In a time of volatile markets, hackers are also active in the sector, stealing $530 million of digital currency from Japanese exchange Coincheck last month.

Korea recently banned anonymous Bitcoin transactions, although the country’s financial regulator has since said that its government will support “normal transactions” with Israel also apparently looking into the possibility of taxing cryptocurrency as property, rather than currency.

Such confusion could potentially see cryptocurrency value fall, but as of right now, that does not appear to be the case.


(Source: Reuters)

Also worth checking: How To Buy Bitcoin From iPhone Or Android Device The Easy Way.

You may also like to check out:

You can follow us on Twitter, add us to your circle on Google+ or like our Facebook page to keep yourself updated on all the latest from Microsoft, Google, Apple and the Web.