Bitcoin: down at $40,000; more losses ahead?
The main digital coin erased all the gains done after Elon Musk's February announcement. What are we heading into?
Bitcoin heads north
On Wednesday, Bitcoin managed to rally in the face of mixed crypto trading reacting to news that Seed CX is geared up towards capturing institutional traders via a bitcoin spot trading market.
Eventually, Bitcoin inched up by up to 0.13% ending up with a reading of $3,573 on the Investing.com Index.
As for XRP, this digital coin lost about 0.81% of its market value concluding the trading session at $0.31646. Besides this, Ethereum went down by 0.32% reaching $117.55. Meanwhile, Litecoin was worth $31.817, ascending by up to 0.62%.
In general, crypto assets tacked on, with the overall crypto market capitalization amounting to $120.6 billion versus the reading of $120.6 billion reported on Tuesday.
On Wednesday, a crypto exchange startup based in Chicago, Seed CX told that it had started a regulated platform for bitcoin spot trading with the aim of attracting institutional investors.
Edward Woodford, the company’s chief executive and co-founder told that they’re providing true institutional level support, and they’re absolutely live.
The initial launch will come with Bitcoin/American dollar. The company is also on the verge of adding further pairing against the evergreen buck for Litecoin, Bitcoin Cash, and Ethereum by the end of January. Woodford added that pairing against the Japanese yen and common currency should show up in February.
The US-based Blockchain Industries uncovered its intention to merge with Singapore’s BTHMB Holdings into a solid entity for the purpose of becoming a publicly traded crypto exchange company.
Meanwhile, on Wednesday, the British Financial Conduct Authority requested a consultation on digital coins for providing regulatory clarity for investors who carry on activities in this space.
The British watchdog told that the underlying DLT technology and the crypto market in general are rapidly developing and investors require clarity on where they’re carrying out activities falling in the scope of the watchdog’s regulatory remit and for which they need authorization.
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