Bears finally took over the cryptomarket and pulled the price for BTC down.
Bitcoin goes down
On Friday, crypto assets generally lost due to the fact that Ireland had an anti-money-laundering bill passed.
As a matter of fact, on the Investing.com Index, Bitcoin slipped by about 1.7% ending up with an outcome of $3,768.30.
The first cryptocurrency was launched 10 years ago, although it still remains far from fiat currencies. Bitcoin has faced rather a volatile year, slipping about 70% last year and far from its maximum of $20,000 recorded in December 2017. Other crypto assets have also declined drastically in the face of worries of enhanced regulatory scrutiny and also volatility.
In general, crypoto assets a bit dipped, with the overall coin market capitalization accounting for $130 billion in contrast with $132 billion recorded on Thursday.
As for Ethereum, this digital coin managed to ascend by 1% ending up with $150.75. Meanwhile, Litecoin demonstrated a reading of $31.464, declining by 0.8%. In addition to this, XRP went down by 2.5% trading at $0.35261.
Ireland approved a bill having to do with fighting money laundering. The given law is expected to restrict the use of crypto assets for terrorist financing. The law will also restrict the use of pre-paid cards and also improve protective measures for financial transactions to and from risky countries.
The given bill arose after the European Commission’s fifth anti-money-laundering law came into force in July 2018. The measures suggest restricting the use of anonymous payments via pre-paid cards that will see crypto exchange platforms fall under the anti-money-laundering clampdown.
EU member states are anticipated to have the new rules legalized in January 2020.
Besides this, DX.Exchange uncovered it would have its trading platform launched on Monday. The given move will enable users to indirectly buy shares of key companies on the token-based site. By the way, the company is on the verge of using Nasdaq’s engine for facilitating the trade of digital securities.
On Tuesday, Bitcoin managed to rally more than 10% testing $8,000 in Asia, while other key crypto assets also demonstrated substantial profits against the backdrop of bullish sentiment…
On Friday, versus all odds, Bitcoin proceeded with its surge in Asia and the cryptocurrency market generally stayed in the red…
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