Bitcoin, Ethereum, And Other Cryptos Tumble As Regulatory Noose Tightens

Bitcoin tokens are displayed in this

In Tuesday trading, the unit tumbled as much as 18 percent to hit a four-week low, triggering a selloff across the broader cryptocurrency market.

Bitcoin had touched a peak of nearly $20,000 in December - and indeed crossed over that threshold on some exchanges - but has since been roiled by several large selloffs. Moreover, the other cryptocurrencies are already rebounding from it as well. Two fiat currency gateways in the top three indicate there's some fresh capital entering the Ethereum ecosystem, which can only be considered to be a positive development.

"There is a lot of panic in the market".

When asked why he doesn't invest in cryptocurrency, he said: "I'm a trader". The recent cryptocurrency price falls have taken a toll.

Considering how fast Bitcoin ripped higher previous year - roughly 2,000% - this recent fall, although chaotic, may be a good thing for the space. Since the start of the year, Bitcoin and other cryptocurrency have come under huge selling pressure, amidst ongoing concerns about potential crackdowns in China and South Korea.

After experiencing a couple of turbulent trading sessions earlier this week, the Bitcoin price (BTC/USD) appears to have stabilised above the $11,500 mark.

Virtual currencies are in some ways defined by their volatility, and some market watchers pointed to four instances in 2017 where values suddenly dropped between 30 and 40 percent.

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Here's the latest on bitcoin and why its value has plummeted.

Ahead of this week, bitcoin alternatives had soared in value.

Many financial pros believe bitcoin is in a speculative bubble that could crash any time. The team includes central bank officials and members of the national police force, local media reported. Firstly, experienced traders and speculators used the news to go short and make quick money. Just to give you an idea of how volatile they usually are, I've been writing daily updates on cryptocurrencies for about a month, and this is the first time that has happened.

Bitcoin is not real money, and Visa will not process any transactions that are cryptocurrency-based, the credit card giant's CEO Alfred Kelly told CNBC.

"Having said that, this narrative has been around for many weeks now and isn't really new but it has once more raised the spectre of tighter regulation on this market". According to market charts dating back to 2011, and the very beginning of bitcoin, this is just a simple market correction in January, which has been the case each year since then.

The Securities Exchange Commission has asked investment fund trade groups to address "significant investor protection issues" linked to cryptocurrencies before exchange-traded-funds, that invest directly in bitcoin and its rivals or has significant exposure to them, can be launched.

"The run-up in bitcoin created a mystique of one-way trading which is being shaken, but the pricing requires faith that there will always be demand", Englander wrote.

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