Bitcoin price LIVE: BTC price collapse but could a correction be corrected behind the corner? | City and business | Finance

MORNING HEADLINES

Hello and welcome to our continued coverage of all things cryptocurrency, including price, regulation, innovation and financial crime.

Another morning of losses for the encrypted market, given that most digital tokens collapse under resistance.

Bitcoin lost 4.24 percent on the day, trading at $ 7.353.07, while Ethereum lost 4.22 percent trading at $ 403.83.

Ripple fell 1.10 percent for $ 0.437672 and Litecoin lost 3.36 percent to sell for 475.32.

Despite losses, many experts expect the bitcoin to recover, with traders just waiting for a lower price to enter.

2pm UPDATE: the new e-payment plug-in for Coinbase allows broader acceptance of Cryptocurrency

Coinbase is collecting the titles again this week when it announces a new feature that will allow merchant payments across the world to be completed through their wallet.

A blog post on the Coinbase website said, "We've been working hard over the last few weeks and are happy to announce a WooCommerce plug-in and some other new features."

11.30 UPDATE: Chinese investor to build $ 300 million of cryptographic hubs in the US

Chinese media entrepreneur Bruno Wu is planning to build a giant $ 300 million cryptocurrency hub in Hartford, Connecticut , in an attempt to cultivate fintech and cryptocurrency projects.

The cryptocurrency space is grappling with a lack of skills that makes it difficult for large companies to find talent to drive innovation.

Mr. Wu hopes that this new cryptocurrency hub will bring more attraction to the industry to help push the potential of digital finance.

UPDATE 9.56: Binance's CEO states that Ethereum and EOS will be too slow to succeed.

Binance CEO, Binance Cryptocurrency Exchange Leader, Changpeng Zhao ("CZ"), says that any general platform of smart contracts (eg Ethereum, EOS) will not be agile or fast enough to achieve long-term success term.

new conversation with Fortune, Mr. Zhao says he believes they will be outdone by projects that offer developers tools to write blockchains for specific purposes.

Fortune reports, "Ethereum's blockchain governs the role when it comes to hosting dApp and setting standards, but competitors in their pockets – particularly Tezos, Eos and Dfinity – believe they can dethrone Ethereum by offering faster protocols and So who will win? "

Mr. Zhao said he would not choose any of them because they were" too slow. "

8 UPDATE: the Swiss bank says that the cryptocurrency will replace the US dollar

UBS , one of the largest banks in Europe, claims that bitcoins and other digital tokens could replace the US dollar as a global currency.

In a new 34-page report, the bank claims that the main cryptocurrency is a contender to replace the US dollar if its price or its network capacity reaches a certain level.

According to Bloomberg, the report states that for "Bitcoin to replace the US money supply – paper invoices, coins, travelers checks and the like – the price may need to hit nearly $ 213,000, or its network processing capabilities would need to be drastically improved. "

The report says:" Our results suggest that Bitcoin, in its current form, is too unstable and limited to becoming a viable payment medium for transactions or a main flow asset class. "

7.50am UPDATE: SEC Commissioner:" There is no reason to not allow "the ETF bitcoin to go on

One of the four Securities and Exchange Commissioners (SEC) said they see no reason not to allow the funds traded on the stock exchange with bitcoins (ETFs) to move forward.

SEC Commissioner Hester Peirce says it has an important role to play in "telling the United States and the world that our capital markets are open to innovation."

Peirce was opened in his thoughts about the fact that bitcoin ETF "would increase opportunities for investors".

The other three commissioners are openly opposed to allowing the proposal of the Winklevoss Bitcoin ETF proposal, but Commissioner Peirce said: "I take the position that in reality the change that was put before us was consistent with the exchange, so there is no reason for us not to allow this product to go ahead. "

If the ETF were to be approved, the prices of bitcoins should soar, with # 37; increase in general investor confidence.

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