Bitcoin Price Declines Contrary To Speculation Of a Possible Recovery
The market value of bitcoin has fallen over the previous three days. The cryptocurrency market has been squeezed since the first of June, when it lost over three million dollars in value from its high of $11,000.
According to statistics from the CoinMarketCap website bitcoin's price decreased by 3.64% monday and is presently trading at roughly $6,500. However, this decrease comes amid hopes that the cryptocurrency might rebound following recent changes in the market.
According to CCN, one of the biggest cryptocurrency exchanges in Japan for repairs, Bitflyer, revealed that they would be selling over 50 new tokens on its platform beginning today. The news comes after Bitflyer revealed that they had secured $32 million in investment last month.
The value of Bitcoin decreased by 4.78% on June 1st when word leaked out that China has prohibited Initial Coin Offering (ICO) operations and marketplaces for trading like Binance. These laws were put into place by the Communist Party of China (PBOC) owing to concerns about money laundering and fraud linked with ICOs and cryptocurrencies such as bitcoin as well as ether.
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