Bitcoin Price Plummets, Indonesia Bans Digital Currencies


After a record breaking day for bitcoin, the crypto currency's value has plunged by thousands of dollars Reaching over $19,000 on some exchanges on Thursday, Dec

7, the digital currency took a hit, dipping back below $14,000 Bitcoin price tracking website Coindesk recorded a high of over $17,000 on Friday, and a low of around $13,900 Bitcoin's recent surge in value has been driven in part by the fact that major exchanges such as the Chicago Board Options Exchange will soon allow trading in bitcoin futures Meanwhile Indonesia's central bank has announced it will ban the use of bitcoin and other digital currencies for making payments in the country The bank's deputy governor said the currency has a weak foundation and is highly volatile, making it likely to have a negative impact on the economy

The ban will go into effect on Jan 1 For United News International, I'm Matt Paul

About the Author Dancake

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