For the last week, crypto assets jumped, backed by a 25% leap in Bitcoin Cash, in contrast with a backdrop of further indications of sluggishness in fiat currencies, including the evergreen buck…
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.
On Monday, the evergreen buck slumped to a two-and-a-half week minimum because market participants pulled back ahead of the Fed’s meeting a bit later in the week…
On Friday, key crypto assets showed mixed performance in Asia, with mild movements because the trading week drew to its end…
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…