Bitcoin has rebounded after falling below $10 thousand a day earlier

© RIA Novosti / Evgeny to Betemporary in fotoracconti with the logo of the cryptocurrency bitcoin. Archival photoBitcoin has rebounded after falling below $10 thousand a day earlier© RIA Novosti / Evgeny to Betemporary the image Bank

The world’s most popular cryptocurrency bitcoin (bitcoin) is trading in positive territory on Thursday, after falling below 10 thousand dollars at auction on Wednesday, which was the lowest level since November of 2017, follows from the data of the auction.

According to CoinMarketCap, as at 7.50 GMT bitcoin price rose by 4.37%, to 11.38 thousand dollars. On the stock exchange Bitfinex to the bitcoin price rose 1.33%, to 11.16 thousands of dollars on GDAX — on 1,72%, to 11.21 thousands of dollars. According to Coindesk, bitcoin rose in price by 0.1%, to 11.15 thousands of dollars.

The market decline of all cryptocurrencies by 20-30%, and in particular bitcoin, on Wednesday was due to reports from China and South Korea on plans by countries to strengthen control over the cryptocurrency market. The Chinese authorities intend to block the online platform and mobile app for cryptocurrency trading, and in South Korea, according to the local Agency Yonhap, the government is preparing a package of measures to restrict «irrational» passion for the cryptocurrency.

According to experts, bitcoin is a bubble that has already started to burst. «Indeed, the recent decline in its rates indicate that the bubble bursts, although the cost is still ten times higher than they were a year ago, but the price will continue to fall,» according to a survey of analysts Capital Economics, at the disposal of RIA Novosti. The current depreciation of bitcoin will not have a significant influence on the world economy because its market capitalization is still relatively small, analysts say.

As for the other cryptocurrencies, Ethereum has risen in price by 3.65% to 1 thousands of dollars, Ripple — by 26.25% to 1.4 dollars, Bitcoin Cash — on 6,17%, to 1.79 thousands of dollars, according to data from CoinMarketCap. The market capitalization of cryptocurrencies, according to the service, is at the moment amounted 549.9 billion dollars, the share of bitcoin accounts for about 35% of the total market.

Service CoinMarketCap allows you to track the average price and capitalization of each of the currently existing cryptocurrencies. When calculating the average market price for bitcoin in dollars, the aggregator calculates the data with more than 20 exchanges. Coindesk is a media resource specializing in cryptocurrencies. Calculates the average price of bitcoin on its us dollar value on the four largest global cryptomeria: Bitfinex, Bitstamp, Coinbase and itBit.