Bitcoin begins week looking strong and stable

Bitcoin seems finally to have stabilized following a whirlwind couple of weeks which saw the currency top $3,000 USD for the first time ever last Sunday before experiencing a sharp correction.

The price of a single coin currently stands at $3,466.21 CAD, as of 4pm, ET, Monday, according to data from CoinDesk – up roughly 5% in 24 hours.

Altcoins are showing green pretty much across the board with Litecoin proving itself to be a runaway success of late; right now, it’s closing in on $50 USD a coin, up 12% in 24 hours and 73% in a week.

Siacoin is also doing fantastic – up almost 18% in 24 hours and just under 50% in a week – along with Iconomi which is closing in on $3 USD a pop and up 25% in a day and just under 70% in a week.



In other news, a group of US lawmakers wants to see cryptocurrency holdings declared at the nation's border – and advocates of the technology are pushing back.

Introduced last month, the Combating Money Laundering, Terrorist Financing and Counterfeiting Act of 2017 would bring a range of digital currency services under federal scrutiny, including those that provide transaction mixing services.

Under the proposed legal change, if a person trying to enter the country has more than $10,000 USD worth of bitcoin in their possession, they would need to inform the relevant authorities.

The coin market cap for all cryptos is just under $150 billion CAD with bitcoin’s market dominance at 37.5% at time of press, down some in the last few weeks thanks to the continuing success of rival altcoins.