BITCOIN has seen prices rise but ultimately dip throughout this year, however could the cryptocurrency be on its way back up? Here are the latest updates and live prices.
Bitcoin has faced a tumultuous year so far, beginning 2018 on a high trading at $14,112 (£10,745) in January before plummeting to around $6,000 (£4560.99) in August. This means the cryptocurrency has lost over half of its value since the beginning of 2018.
The currency has risen back up from its lows, and is remaining somewhat steady around $6,400 (£4,862.88).
Below are live updates of pricing and latest industry opinions, all times in BST.
7.53pm update: Bitcoin latest price update
At 7.53pm Bitcoin was trading at $6352.64 (£4,818.96).
This is a decline from today’s high of $6,581.51 (£4,991.42) by more than 3.5 percent.
7.24pm update: A blockchain payment trial by JP Morgan has attracted 75 banks
A blockchain payment trial pioneered by JP Morgan in collaboration with Australia’s ANZ and the Royal Bank of Canada has attracted 75 banks to the testing phase according to the Financial Times.
The payments platform Interbank Information Network (IIN) has been in the testing phase for 11 months.
The banks that have signed up for IIN include Societe Generale and Santander among others.
Jason Goldberg, banks analyst at JP Morgan said, “Blockchain is a way to keep more of that [business] in-house.”
6.57pm update: Latest price check on the largest cryptocurrencies
Bitcoin – $6,380.12 (£4847.10)
Ethereum – $210.45 (£159.88)
Bitcoin Cash – $431.67 (£327.95)
Litecoin – $55.88 (£42.45)
XRP – £0.4544 (£0.35)
6.34pm update: Google to resume cryptocurrency advertising in October
The search engine have agreed to allow cryptocurrencies to once more advertise on Google.
Starting next month, regulated crypto exchanges will be allowed to purchase ads in the US and Japan.
The ban on advertising crypto came in March during a spate of high-profile initial coin offerings alongside other cryptocurrency activity which caused issues in identifying between fraudulent or legitimate ve
Bitcoin has been added to the Merriam-Webster Scrabble dictionary, many people’s go-to source for Scrabble word approval.
Public awareness of the cryptocurrency has added to the soaring prices we have seen at the beginning of this year.
Chris Kline, the Chief Operations Officer of BitcoinIRA believes alongside billionaire investor Marc Lasry that BTC prices will continue to climb and could reach $40,000 (£30,379.60) by the end of 2018.
One reason for such an increase would be down to the Bitcoin ETF proposal.
Bitcoin ETFs can open the Bitcoin market wider making it more accessible to investors