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 is intact
On Thursday, crypto assets dived a bit due to the fact that a report from Cambridge University suddenly discovered that the overall number of crypto users have almost doubled in 2018.
As a matter of fact, on the Investing.com Index, Bitcoin was intact, sticking with $3,432.10.
Crypto assets have gone down drastically for recent weeks because market participants are concerned about soaring regulatory volatility and scrutiny.
In general, crypto assets declined, with the overall crypto market capitalization amounting to $109 billion at the time of writing. The given result is less than $110 billion recorded on Wednesday.
Besides this, the number two crypto asset Ethereum managed to surge by up to 0.7% coming up with a reading of $90.08. Furthermore, Litecoin demonstrated a result of $23.85 slipping by about 1.1%. As for XRP, this digital coin dipped by approximately 0.15% trading at $0.30385.
Even so, the volatility of the crypto market didn’t appear to be enough to deter market participants, a fresh research from the Cambridge Centre for Alternative Finance discovered something intriguing. Well, it has been found out that the overall number of crypto users almost doubled this year, jumping from 18 million to the mind-blowing 35 million. However, most crypto users are still passive, as follows from the study.
As experts explained, the crypto world is getting more fluid because the lines between crypto exchanges and crypto wallets are rapidly blurred, while many crypto assets, not just Bitcoin, are currently supported by a surging ecosystem, thus fulfilling a range of functions.
By the way, soon exchanges in the Netherlands are going to be regulated by the Dutch major bank.
Besides this, in the Netherlands, crypto service providers will be required to apply for a license. Moreover, they will be obliged to follow so-called know-your-customer rules.
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