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?
Digital coins show mixed performance
On Monday, without a powerful directional driver, crypto assets stood still in Asia.
Eventually, Bitcoin declined by 0.76% concluding the trading session at $3,627.
Additionally, Ethereum managed to surge by 1.05% coming up with a reading of $120.51. As for XRP, it dipped by 1.79% hitting $0.30312. Litecoin rallied by 0.35% being worth $44.221.
The saga as for Canada’s key crypto exchange QuadrigaCX kept developing over the weekend because watchdogs got involved. Earlier it was informed that Canada’s relevant provincial watchdog, the Ontario Securities Commission, started probing the crypto exchange. The watchdog is assured that there’s a loophole leaving crypto investors exposed to risks. Currently, it’s not clear who’d be held accountable for any probable losses.
Issues first arose when in December QuadrigaCX’s CEO passed away without providing anybody with access to money in cold wallets that turn out to be storage facilities for money that have no connection to the internet.
Considering the potential harm to Ontario traders, the Ontario Securities Commission is closely watching this matter and has already been in touch with the monitor.
In addition to this, two Latin American countries came up with upbeat signals about crypto assets.
As a matter of fact, Argentina’s state public transport card SUBE currently backs Bitcoin. As a result, its users have obtained an opportunity to have their cards topped up with this leading crypto asset.
Besides this, in Brazil, a Rio de Janeiro court came up with an upbeat verdict. As it ruled out, a local crypto exchange Mercado Bitcoin’s bank account shouldn’t be forcibly frozen. A judge told that Brazil’s major financial institution hasn’t banned the buying/selling of crypto assets within the country’s borders.
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