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Bitcoin exchange rate down 8.4% after historic high

November 30, 2017, 17:49 UTC+3 MOSCOW

Bitcoin is a decentralized system based on blockchain technology

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© Alexander Demianchuk/TASS

MOSCOW, November 30. /TASS/. Bitcoin exchange rate fell by 8.4% on the Bitstamp exchange to $9,000. On November 29, the cryptocurrency set a historic record, rising by more than 10% and breaking the $11,000 mark.

Earlier on November 28 bitcoin exchange rate exceeded $10,000 for the first time, according to the data of the electronic cryptocurrency platform Coinmarketcap.

Bitcoin is a decentralized system based on blockchain technology, which any user - participant of the system can emit, creating new blocks of the system with the help of a computing device. The concept of the system was first published in November 2008.

In early August 2017, cryptocurrency was divided into classic bitcoin and Bitcoin Cash, due to disputes about updates, which were supposed to increase the speed of transaction processing.

Russian Minister of Communications and Mass Media Nikolai Nikiforov sadi earlier he believes that Russia is unlikely to legalize bitcoin.

"Bitcoin is a foreign project for using blockchain technology, the Russian law will never consider bitcoin as a legal entity in the jurisdiction of the Russian Federation. However, I think that it is quite possible to use blockchain technology and the use of various digital tokens," he said.

Earlier in October, it was reported that Russia's Communication Ministry has submitted to the government the document containing technical details related to cryptocurrencies adoption.

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