Bitcoin skids to lowest since November after worst month in three years

Reuters Staff

 

A bitcoin (virtual currency) coin placed on Dollar banknotes is seen in this illustration picture, November 6, 2017. REUTERS/Dado Ruvic/Illustration

 

LONDON (Reuters) - Bitcoin, the world’s largest cryptocurrency, skidded 9 percent on Thursday to its lowest level since late November, as a Facebook ban on cryptocurrency adverts and a growing regulatory backlash against the nascent market rattled investors.

 

On the Luxembourg-based Bitstamp exchange BTC=BTSP bitcoin fell to as low as $9,165, marking a more than 50 percent fall from a peak of almost $20,000 hit in December. It slid more than 26 percent last month, in its worst monthly performance since January 2015.

 

Facebook (FB.O) said in a post on its website this week that it was banning all adverts that “promote financial products and services that are frequently associated with misleading or deceptive promotional practices, such as binary options, initial coin offerings and cryptocurrency”.

 

A $530 million hack of Japanese cryptocurrency exchange Coincheck late last week has also weighed on the market, along with a subpoena sent by U.S. regulators to two of the world’s biggest cryptocurrency players, Bitfinex and Tether.

 

-- © Copyright Reuters 2018-2-1

What's up with BX.in.th - they are at 350,000 Baht for BTC when it's at 290,000 Baht at other exchanges?

 

Slow to update...

I see BX.in.th has adjusted BTC price to 280,000 this morning which is in line with other exchanges - does anyone know how long the lag is for BX.in.th to update their pricing?

 

Do they only update during normal working hours?

11 hours ago, M71 said:

What's up with BX.in.th - they are at 350,000 Baht for BTC when it's at 290,000 Baht at other exchanges?

 

Slow to update...

 

1 hour ago, M71 said:

I see BX.in.th has adjusted BTC price to 280,000 this morning which is in line with other exchanges - does anyone know how long the lag is for BX.in.th to update their pricing?

 

Do they only update during normal working hours?

 

 

ummmmmmmm

 

you do know its an exchange right? people list their price of what they have in 'exchange' for the value they want. whether they want to sell their bitcoin, or whether they are offering to buy someones bitcoin.

 

the site (as with everything/everyone in thailand), does not follow or take advice from the outside world.

 

meaning, if no one is thailand is willing to selling their bitcoin for $9000 or less, the price on bx thai will stay at the price people are willing to buy or sell at. (BUT this usually is not for too long as arbitrage traders will even it out eventually)

Thanks Jabers,

 

                                        No I did not know that - cheers - it makes perfect sense now.