Bitcoin, Ethereum, Ripple price surge as cryptocurrency ban dismissed by European Central Bank

Bitcoin price surges as European Central Bank rules out cryptocurrency ban
Things are up looking up for Bitcoin investors (Picture: AFP/ Getty)

The price of Bitcoin and other major cryptocurrencies is on the climb today after the European Central Bank dismissed fears of an imminent ban.

Last month, the slide of Bitcoin became so severe that the mini-crash was described as a ‘bloodbath’ and a ‘horror show’, before eventually being dubbed the ‘cryptopocalypse‘.

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But since then, the price of most major virtual currencies has been climbing, although all crypto-markets remain highly volatile and prone to dramatic wobbles.

The price of one Bitcoin is sitting at about $8,800 (£6,340) this morning, which is an increase of about $400 from its lowest point yesterday.

Mario Draghi, President of the European Central Bank (ECB), said it was not his organisation’s job to regulate Bitcoin.

Bitcoin price surges as European Central Bank rules out cryptocurrency ban
The price of Bitcoin has been on the up for the past 24 hours (Chart: Coinbase)

He…


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