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The price retreat comes as regulators adopt an increasingly skeptical stance towards the digital money
RBI directive proved opportune for a lot of traders who used dip in bitcoin and other virtual currency prices to their advantage by buying even more and holding it in their private wallets rather
A spokesman did not comment on the coin offering, but did say the firm was looking at using blockchain - the technology underlying digital currencies - to help people secure their online data
Firm ropes in US-based blockchain investigative firm Chainalysis to track the movement
The industry stakeholders also rued the fact that they were not consulted before RBI took its decision
Instead of emulating China, the RBI could have looked at Japan, Germany, Korea, Australia and Singapore
Some of the biggest heists that have happened around the world are in many multiples of Coinsecure's losses
Other cryptocurrencies like Ethereum and Ripple also rose sharply
Iceland has been Europe's most popular location for miners of digital currencies such as bitcoin and ethereum
Barclays based its findings on a model that compared crypto-hysteria to "the spread of an infectious disease" through a population of investors
The Barclays model divides the pool of potential Bitcoin investors into three groups: susceptible, infected and immune