Bitcoin ‘Hammered’ Banks Ban Purchases

Bitcoin ‘Hammered’ Banks Ban Purchases

Bitcoin ‘Hammered’ Banks Ban Purchases

$BTCUSD

  • Mr. Bear Breathes on Cryptocurrencies

Bitcoin Hits $7,500 as UK’s Biggest Bank Bans Cryptocurrency Purchases on Credit

Currently, Bitcoin is trading at: 7,659.085, -284.92, or -3.59%,  as of 1:22p GMT, the market is open.

Bitcoin prices tested 3-month lows Monday after Lloyds Banking Group, Britain’s biggest bank, said it would ban its 9-M customers from buying cryptocurrencies on its credit cards.

Bitcoin was marked at $7,506/each on the bitstamp exchange in Luxembourg, which feeds prices into the CME Group futures contract, down 8.14% from Sunday’s close and more than 60% from its all-time peak of $19,187 on 16 December 2017.

The corresponding declines in other digital coins, including ripple and ethereum, have taken the global cryptocurrency “market cap” to $400-B, about 50% of the value it commanded at its mid-December highs.

Have a terrific week.

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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