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Bitcoin Dips Again After Snapping Five-day Winning Streak Yesterday

Cryptocurrency NewsFeb 22, 2018 01:12AM ET
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Bitcoin prices dipped again on Thursday

Investing.com - Bitcoin prices dipped again on Thursday after losing its five-day winning streak yesterday that saw the digital coin broke above the $11,000 threshold.

Bitcoin was trading at $10,805 by 1pm ET on the Bitfinex exchange, down 0.6% over the previous 24 hours.

Ethereum, the world’s second largest cryptocurrency by market cap, was down 1.3% at $864.06 on the Bitfinex exchange.

Ripple’s XRP token, was up 0.04% to $0.99 on the Poloniex exchange.

Meanwhile, Litecoin was trading 0.28% higher at $219.47.

The UK Treasury Committee is reportedly launching an inquiry into cryptocurrencies to investigate whether the technology behind Bitcoin poses a risk to central banking.

The inquiry would focus on “the potential risks that digital currencies could generate for consumers, businesses, and governments, including those relating to volatility, money laundering, and cyber-crime,” according to committee chair Nicky Morgan.

Separately, the operator of BitFunder, a shuttered bitcoin-denominated exchange, was arrested yesterday for deliberately avoiding responsibility for the theft by hackers that involved thousands of bitcoins.

Hackers in 2013 exploited a weakness in BitFunder's programming code to cause it to credit them with profits they had not actually earned, according to reports.

Elsewhere, Japanese media reported that a total of 669 cases of suspected money laundering were linked to cryptocurrencies between April and December in Japan last year.

Bitcoin Dips Again After Snapping Five-day Winning Streak Yesterday
 

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