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Bitcoin: Increased Regulation Boosting the Virtual Currency?

Bitcoin had a shaky start to this year. After such a remarkable year in 2017, 2018 has been rather disappointing. Bitcoin sold off heavily going from its peak of almost $20,000 in mid-December 2017, to a low of just $5669 in February 2018. However, the virtual currency appears to be on the rise again.

Concerns over increased regulation brought the cryptocurrency tumbling at the start of the year, as several countries around the world raised concerns. South Korea and China have been main players in bringing concerns over the trading and mining of virtual currencies to the foreground. Whilst China has already taken steps to ban the trading of cryptocurrencies, South Korea has held back.

Yet despite the continued threat of more regulation, bitcoin is on the rise once again pushing through the psychological level of $10,000. This could be because investors are starting to realise that great regulation is what is needed in order for Bitcoin to go mainstream. More interest from the public and trading institutions could potential push demand up as well as the price.

If you are interested in trading bitcoin opt for a regulated broker, such as Vantage FX. They are an award winning, globally renowned broker, which offers clients the chance to trade bitcoin on a host of platforms including through MT4.

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