Bitcoin Tumbled As much As 20% Tuesday (CNN Money)
The price of the volatile digital currency dipped below $12,000, its lowest level in more than a month, according to data from CoinDesk.com. Other popular cryptocurrencies ethereum and ripple also posted double-digit losses. It’s unclear why bitcoin fell. Cryptocurrency is a murky market with frequent swings. “Volatility is quite common in the cryptocurrency world,” said Mati Greenspan, a Tel Aviv-based analyst at investment firm eToro.
More Than 200,000 Sign Petition in South Korea to Stop Government’s Crackdown of Bitcoin ‘Happy Dream’ (CNBC)
A petition in South Korea against cryptocurrency regulation has reached the number of signatures that would induce a government response. As of Tuesday morning, ET, more than 212,700 had signed a petition launched Dec. 28 on the website of the South Korean presidential office. A Google translation of the website states that if more than 200,000 people support a petition within 30 days, officials will respond.
Diamond Trade Turns to Technology That Keeps Bitcoin Anonymous (Bloomberg)
The world’s biggest diamond producer is turning to the technology behind bitcoin to track gems from mine to retailer. De Beers is running a pilot scheme using blockchain to create a virtual ledger of diamond sales. The technology made famous by the cryptocurrency is also seen as having the potential to reshape industries from finance to retailing. It will enable De Beers to show transactions to all participants while keeping their identities and the value of the sales hidden.
As Bitcoin, Ethereum, and Ripple Plunge, These Cryptocurrencies Are on the Rise (Fortune)
Bitcoin’s tremendous drop in the past 24 hours is having a domino effect—on Ripple, Ethereum, and pretty much every other cryptocurrency that’s traded. Massive selloffs, for reasons that are not yet clear, are resulting in drops of 15 to 30% for the 100 top digital currencies, as ranked by CoinMarketCap. But even amidst the crash (the first since last December), there are a few cryptocurrencies that are eking out gains today. As of 9 a.m. ET, two digital currencies were showing notable gains on Tuesday.
There’s a Cryptocurrency Named After Theresa May and It’s Neither Strong Nor Stable (Metro.co.uk)
So what if you’re looking for a strong and stable investment in the world of digital dosh? Well, you might want to look into a new cryptocurrency named after Prime Minister Theresa May. It’s called TheresaMayCoin and has almost tripled in value this year to soar to the giddy heights of, erm, way less than a tenth of a penny. The Bitcoin-style virtual currency was launched last year and has proved a reliably rubbish investment ever since.
