Bitcoin saw another fall this week, from a high last Monday of $9,862 to a low over the weekend of $7,369. It jumped over a thousand points today, recovering to $8,685. At the time of writing, the price is $8,559. Here is the chart showing the price movements in the last week: 
As always, people want an explanation for why a price drops or rises. Last week’s price crash has been attributed to a mass selloff as cryptocurrency holders try to avoid paying capital gains tax, according to Investopedia Another theory doing the rounds is that the current bearish market is due to the recent “Mt Gox selloff” where the trustee managing the bankruptcy capital for the now-defunct exchange, which suffered a significant hack in 2013, liquidated a significant amount of its Bitcoin. However, an article on Cryptoslate doesn’t think this was the cause. Read what they say here Today’s sudden price rise is easier to understand: it’s probably due to the announcement from the G20 that they don’t plan to crack down on the cryptocurrency. Read this story on newsbtc.com ADVFN’s Cryptocurrency page gives you prices for Bitcoin and altcoins Other Cryptocurrency News Late to the cryptocurrency party? Don’t worry – you can catch up on all the jargon by reading this article on Market Watch US investors in cryptocurrencies risk getting hit by tax bills as the IRS says that anything purchased using digital currency will be taxed as a capital gain. That means anyone who has cashed out, or used digital currency to make a purchase, or even traded from one currency to another, may be liable. Read the details in this Guardian story The Governor of the Bank of England has said that cryptocurrencies pose no risk to global financial stability. As world leaders convene for the G20 summit, a letter from Mark Carney said the the Financial Stability Board (which he also chairs) does not see the technology as a threat right now. Read the story on coindesk.com The Bank of International Settlements doesn’t agree with Mr Carney: they think cryptocurrency could undermine the central banking system. Their concern is that if central banks start to issue their own digital currencies, they could become rivals to cash and drain funds from the commercial banking system. Read about their concerns in The Telegraph The Indian Government is also worried about cryptocurrencies: a key member of the Indian finance ministry has stated that it will be extremely difficult to bring them under regulation. Instead, he proposes, the government should ban them outright. Read about this rather extreme proposal on ccn.com A Wall Street analyst who previously predicted Bitcoin would reach $51,000 by 2022 has updated his price prediction. He now thinks it will hit $91,000 by 2020. Wow, let’s hope his crystal ball gazing turns out to be on the money! Read how he made the prediction in Crypto Globe Bloomberg, on the other hand, thinks cryptocurrency is a fad which is now waning in popularity. Apart from the fact that the price has stalled, they point out that internet searches for “Bitcoin” have plunged. Find out more from Bloomberg Following on from Google and Facebook’s recent announcements that they are banning ads that relate to ICOs and cryptocurrencies, Twitter says it’s going to follow suit. The social media company says it will roll out a new advertising policy within the next two weeks which will include a ban on ads for wallets, token sales and ICOs. Sky News has the details Slovenia is getting the world’s first Bitcoin roundabout. Kranj, the fourth-largest city in the country, will be unveiling the monument, which places a giant Bitcoin logo in the centre of a roundabout. Read the story on ccn.com A supplier of high-powered IT equipment is planning to build the UK’s largest Bitcoin mining operation, setting up facilities in three locations in London, Suffolk and Surrey. Bladetec is looking to raise £10 million from investors to pay for the mining hardware, site and admin costs, and electricity. Read the story on ccn.com Power providers in New York state have been given permission to charge higher electricity rates to crypto mining firms. This follows a petition by the New York Municipal Power Agency, citing concerns that soaring demand from crypto-miners could lead to higher electricity costs for residential and business customers. Details on ccn.com The Crypto Trader News, information, tips and opinions on all things to do with cryptocurrency. Purchase a subscription with Bitcoin, LiteCoin, Ethereum or PlusOneCoin. Click here for more information New Book on Cryptocurrencies out now
from Clem Chambers The CEO of ADVFN, Clem Chambers, has a new book on cryptocurrencies out now in paperback and for the Kindle. Click here to buy the book from Amazon Trading Cryptocurrencies: A Beginner’s Guide - Bitcoin, Ethereum, Litecoin is an invaluable guide to making money in cryptocurrencies: how they work, how to invest in them, trading cryptocoins, mining, and the technical details behind them. 
Click here to buy the book from Amazon PlusOneCoin PlusOneCoin now available to buy and sell on the Trade Satoshi Exchange, here CME Bitcoin Futures ADVFN (LSE:AFN) is now offering free CME Bitcoin Futures data to its four million registered users. Anyone visiting the ADVFN site can obtain quotes, view charts and access real-time news for CME Bitcoin Futures here. Users can add these contracts to their portfolios and see bid, offer, highs, lows and current prices along with traded volumes. They can also view them on their monitor pages alongside their other investments. | 
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