Dennis de Jong, managing director at UFX.com, comments on Bitcoin gains

“Bitcoin ticked past the $11,600 mark earlier, as increased trading in South Korea helped push the price of the cryptocurrency on to some impressive worldwide gains.

“While the threat of heavy regulation, or even a total ban on exchange trading, has hovered over bitcoin in recent weeks, reports this morning that the South Korean government are softening their stance have given traders confidence to buy.

“This hasn’t just been good news for bitcoin traders, with the cryptocurrency market as a whole now almost doubling in size from $282b to nearly $510b in just two weeks, and for now, it looks as though the good times are starting to roll once more.”

About UFX.com

UFX.com was founded in 2007. In 2011, it became a brand of Reliantco, a Cyprus Investment Firm (CIF), regulated by CySEC, with license number 127/10. As a Securities and Exchange Commission of a European Union Member State, CySEC ensures that companies operate in accordance to MiFID guidelines. CySEC’s strict regulatory standards result in increased protection for clients.

UFX is regulated by the Financial Services Board of South Africa, with license number 44961.

UFX.com, an online Forex broker specializing in trading commodities, currencies, stocks and indices, is comprised of a team of Finance professionals and experts with 50 years combined experience in the Foreign Exchange industry. ParagonEx, the platform used at UFX.com, was originally created and developed by the CEO himself and provides the most up to date charts and feeds.

In 2016 UFX’s MassInsights Technology was introduced, which brings together live market events and aggregated trader behavior, while displaying the information in a single, easy-to-read stream that shows traders the most significant activities across markets in real-time.