Bitcoin bubble rises again


SUBMITTED BY: ccpp

DATE: Dec. 26, 2017, 1:50 p.m.

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  1. There is no right current price which would reflect the right current valuation,” said Andrei Popescu, Singapore-based co-founder of COSS, which describes itself as a platform encompassing all features of a digital economy based on cryptocurrency.
  2. “Taking profit is right, while buying into a long-term projection is also right. You don’t have to be right in this market, just less wrong than the rest,” Popescu said.
  3. Shmuel Hauser, the chairman of the Israel Securities Authority, said on Monday he would propose regulation to ban companies based on bitcoin and other digital currencies from trading on the Tel Aviv Stock Exchange.
  4. Singapore’s central bank warned last week against investment in cryptocurrencies, saying it considered the recent surge in prices to be driven by speculation and that the risk of a sharp fall in prices was high.
  5. Prices of rival cryptocurrencies, which slid along with bitcoin last week, have also recovered, with Ethereum, the second-biggest cryptocurrency by market size, quoted around $771, up from Sunday’s low of $689 but still far from highs of around $900 hit last week.

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