Bitcoin price WARNING: Governments to end currency to stop ‘crooks’ | Express.co.uk

BITCOIN price has begun to recover from a huge plunge driven by investors’ fears of a trading crackdown but the cryptocurrency world could be rocked by another crisis, according to financier Bill Browder.

“What we’ve seen over the last 10 years is technologies get ahead of regulation. It’s true with Facebook and Twitter with information.

“It’s true with bitcoin in terms of money laundering. They will get to it and when they get to it, it will be extremely tough and devastating and hurt the share price.”

Bitcoin is known to have a massive scaling problem with a huge drag on the time needed to complete a transaction and the cost of fees for doing so.

Bitcoin’s popularity has caused demand to skyrocket throughout 2017, pushing other cryptocurrencies like Ripple and ethereum to also reap the benefits of the cryptocurrency craze.

According to Coindesk, bitcoin was trading for $11,143.57 at 6.07pm GMT on January 24. Ripple’s price was recorded at $1.35 at while competitor ethereum traded for $1,026.93 at 6.08pm.

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Bitcoin price WARNING: Governments to end currency to stop ‘crooks’ | City & Business | Finance | Express.co.uk.