Bitcoin Bitcoin's January fall wipes off $44bn in value US investigation into boom stokes fears of impending bust as cryptocurrency records steepest monthly slide in its history Bitcoin’s gains in 2017 have gone into sharp reverse in January. Photograph: Kim Hong-Ji/ReutersBitcoin plummeted in value by more than $44bn (£30.9bn) in January, marking the steepest monthly fall in its short history. The slide extended further on Thursday after the Indian government said it would ban all cryptocurrency trading and Facebook announced a ban on digital currency adverts. Bitfinex allows users to sell bitcoins for dollars, and then “withdraw” the money using Tether tokens. Given there are more than 2bn Tether tokens outstanding, that means that the company should have billions of dollars in its bank account.

Source: The Guardian February 01, 2018 18:31 UTC