Ethereum, Ripple and Bitcoin all go down following India’s crypto ban announcement

Ethereum, Ripple and Bitcoin all go down following India’s crypto ban announcement

Bitcoin has suddenly dived by 11% to its lowest value since November 2017 reacting to an ascending  backlash against crypto trading. The given dramatic sink showed up after India dared to announce a ban on the selling and purchasing of crypto assets.  

Since the start of this year, the value of the world’s number one digital currency dived by nearly half.

Today bitcoin has managed to dive to a devastating minimum of $9,022 – a drastic difference versus  an outcome of nearly $20,000 demonstrated at the end of 2017.  

The most popular crypto asset dived more than 26% in December, thus demonstrating its worst monthly marathon since January 2015.

As for other digital currencies such as the third-largest crypto asset by market value, ripple, it has also demonstrated a shocking double-digit slump for the last 24 hours.

Yesterday ethereum soared a bit, although this crypto stuff has significantly declined since the beginning of this trading week.

The previous year’s mind-blowing jump in the value of digital assets along with the flood of novice retail traders drawn to the market have made global regulators be wary of a sector utilized mostly for speculation.

By the way, statesmen have warned that crypto assets can be employed by scams for laundering funds.

India that has recently compared the rapidly developing crypto market with a banal Ponzi dirty undertaking, has just pledged to forbid crypto trading.

Aside from that Facebook told that it was strictly forbidding all ads, promoting financial stuff closely connected with deceptive deeds, including ICOs, cryptocurrencies and binary options.

However, it wasn’t clear whether this ban would have to do with all crypto ads on the popular social media website or not. Unfortunately, Facebook hasn’t provided extra comments on the subject yet.

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