Bitcoin dives 14%, slumping below $5,000

Bitcoin dives 14%, slumping below $5,000

On Tuesday, crypto assets dived, with Bitcoin decreasing below the psychologically crucial $5,000 mark for the first time this year.

As a matter of fact, Bitcoin headed south by 13.5% ending up with $4,930.00 on the Bitifinex exchange.

On the Poloniex exchange, XRP declined by 1.2% trading at $0.49762.

As for Ethereum, it dived by 13.9% demonstrating a reading of $150.95. Litecoin lost 9.5% trading at $37.917 on the Bitifinex exchange.

The dive in prices occurred after the US Securities and Exchange Commission uncovered its first penalties against two crypto companies, which didn’t have their ICO registered as securities.

The two companies, Paragon Coin and Airfox, are obliged to pay penalties of up to $250,000 in order to compensate their investors.

As some market experts pointed out, the given selloff has to do with enforcement that is underway now. It’s evident that projects are being created to return investor funds, and having spent a lot of money on marketing their $100 million Initial Coin Offering on a luxurious party-filled road-show, which was rather a normal thing for this vintage of ICOs, is going to be tough.

From a January peak the crypto market has already lost over $670 billion, as follows from data provided by CoinMarketCap.com. Eventually, the number one crypto asset, Bitcoin has lost over 70% from its December 2017 maximum.

The previous week, Japan’s Financial Services Agency informed it’s on the verge of regulating crypto wallets. Now, only companies, buying and selling crypto assets, must register with the agency.

Nevertheless, Switzerland’s government approved the world’s first crypto exchange-traded fund. The crypto startup Amun AG has obtained approval for the fund, which would attract investments in key crypto assets, including Ethereum, Litecoin, XRP, Bitcoin as well as Bitcoin cash in the nearer future.

 

 

 

Similar

Latest news

Japan real wages surge is slowest in almost two years

Japan's March real wages went down at the fastest pace in nearly two years, weighed by minor nominal pay lifts as well as a moderate ascend in consumer prices, thus posing a setback for Prime Minister Shinzo Abe's tries to revitalize the Japanese…

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera