No days off for bitcoin
The top cryptocurrency by market value remains in the hunt for $7,000. Here are the stories you can't miss in cryptocurrency.
Prices Aim High
Bitcoin returned to gains this week following a rough patch that saw prices hit their lowest level so far this year in late June. The cryptocurrency traded close to flat on Thursday but reached as high as $6,770 a day earlier as momentum toward $7,000 builds. Trading volume has increased in recent days, topping $4 billion in each of the last six sessions after waning in previous trading toward the end of June. Most of the other top cryptocurrencies by market value traded mixed on Thursday, with ethereum notching narrow gains and Ripple's XRP lower about 2.5%. Bitcoin's dominance as a percentage of the total cryptocurrency market stands Thursday around 42%, remaining around levels last experienced in April.
The Day Has Come for India
All banks and financial entities in India will stop operating accounts linked to any digital currencies starting on Friday. The Reserve Bank of India set the deadline back in April, when it moved to end all crypto transactions in the country. That means that Thursday will be the last day any crypto investors or traders in India will be able to monetize their holdings. After midnight, all money transfers will be disabled, meaning any Indian citizens left holding crypto will be unable to transfer the coins to fiat currency. Peer-to-peer transactions will still be permitted, though, and it's worth noting that the Reserve Bank of India has banned banks' involvement with crypto, not crypto itself.
