This is a news update, NOT INVESTMENT ADVICE.
Most of the top 100 cryptocurrencies are in the red today. So see how bitcoin performed over the weekend. Bitcoin briefly fell below $8,000 on Friday, we then saw it climb past $9,400 on Saturday before falling lower again. Today it remains at around $8,000. This time last year Bitcoin was just over $1,000.
JP Morgan, Bank of America, Citigroup and Lyod’s bank have banned the use of credit cards for buying cryptocurrencies. This ban does not include debit cards.
A spokesperson for JPMorgan, told CNBC that “at this time, we are not processing cryptocurrency purchases using credit cards, due to the volatility and risk involved and added that they “will review the issue as the market evolves.”