Over the course of just two weeks, China’s ICO ban and the announced closure of cryptocurrency exchanges put a significant dent in bitcoin. The price of the world’s most popular cryptocurrency fell from an all-time high of nearly $5,000 to just south of $3,000. Likewise, its market cap plummeted by nearly $30 billion, a dramatic swing that can be partially attributed to the price drop itself. The looming closure of China’s cryptocurrency exchanges resulted in lower volumes and global trade remains volatile, but cryptocurrency has proven its resilience once again. Ultimately, a decentralized world economy is far more powerful than a single nation-state.
Read more on @ETHNEWS
Bitcoin, Ethereum and other Cryptocurrencies