After 180 days of volatility, bitcoin dropped to its lowest mark since November 2018, according to CoinDesk.
The cryptocurrency reached a 23-month low of 0.028 on Sunday (Oct. 4), though the market was mostly unfazed by the tumultuous current events of recent days.
Though bitcoin began to lag late last week as President Donald Trump was diagnosed with COVID-19 and the U.S. Commodities and Futures Trading Commission and Department of Justice announced charges against the founders of BitMEX, that resulted in only a five percent drop, marking an unusual calm in the market.
Bitcoin volatility has dropped 43 percent in the last month, CoinDesk writes.
Jonnny Lyu, CEO of KuCoin, Tweeted on Saturday (Oct. 3) that suspects had been found in the Sept. 26 security incident.
“Law enforcement officials and police are officially involved to take action,” he wrote.
He said there was another $64 million now out of the control of suspicious actors, making the total around $204 million since Oct. 1. And, he added, KuCoin was on its way back to full functionality, with 31 tokens reopening deposit and withdrawal services, and more to come soon.
China’s first blockchain-powered hospital is facing scrutiny over security concerns, according to a report from Cointelegraph.
Cn-Healthcare reports that the First Affiliated Hospital of Dalian Medical University will open a pilot by early next year. The blockchain will be used for storing patient and treatment information, according to Cointelegraph.
However, officials with the Ministry of Industry and Information Technology have said they’re skeptical that the data will be secure enough. They want to ensure that the information can be verified and can be stored in an acceptable way.
Egyptian residents are increasingly seeing the viability of bitcoin as a way to bring in income, Cointelegraph reports.
As the pandemic and ensuing economic chaos set in, particularly young Egyptians became interested in the coin.
Economist and financial advisor Wael al-Nahhas said young residents of the country “started investing in small amounts despite the increase in the value of the bitcoin.”
“They started mining Satoshi, which is 100 millionth of a bitcoin, and on a daily basis they are making profits of 4% to 5% from the difference between buying rates during the timing of demand decline and selling rates at the time of peak demand, besides some quarterly or yearly profits from unexpected hikes in bitcoin rates,” he said, according to Cointelegraph.
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