Wednesday morning started with green signals as the currency was going down since five days with great number of bitcoin news. All alt coins market also crashed due to some new regulation news from Asia, which was putting down the btc price including alts coin down. Later then some U.S and U.K financial institutions announced that Credit Card is not longer to buy bitcoin.
Market Green Signal Bitcoin News
Due to a lot of FUD from November, its price dropped below $6,000 this week. Btc has 35% dominancy therefore its price fall effected on all coins plunge. But today coins are seeing better to last week and btc is almost crossed $8,000. Snap taken below for reference from Coinmarketcap showing that Bitcoin is up 23%, Ethereum jumped to over $820 for a 25% increase, while Ripple is approaching the $0.80 level, which marks a 16.79% improvements. Some coins are seeing even bigger gains, like Neo (43%) and Litecoin (27%).
The total market capitalization of all coins closed on $390 billion, which was dropped yesterday around $325 billion this year. It was a rough start for all crypto currencies but pretty better to last year that market cap was $18 billion.
South Korea, India, and China all delivered some bad news in the past weeks, but only China doubled down on actually banning crypto trading. This green signal may be the reason of U.S Senate hearing. Some experts believes that Feb will recover all currencies from this down fall. However they are predicitng the price of bitcoin more then $50,000.
Some news also showing that there will be no ban in Singapore for cryptocurrency. A high-ranking governemnt official told lawmakers that there is no stron case to ban crypto trading. Vietnam governemnt has accelerated the adoption of cryptocurrency regulation. Thailand is taking further steps to regulate initial coin offerings. Indonesia’s central bank has issued strong warnings against trading cryptocurrencies. Businesses accepting bitcoin payments have been hit by a government crackdown.
Stay tunned for more bitcoin news…!