Bitcoin drops to Bitfinex announcements and comments from regulators

in #bitcoin7 years ago

 Today the price of Bitcoin, along with the market capitalization of all cryptoactive, dawned in negative numbers, with a drop of more than 8% in 24 hours.

At the time of writing, Bitcoin's price is $ 5,404,  with movements of $ 2.2 billion in 24 hours, mainly in its peers BTC / USD, BTC / KRW and BTC / JPY. In addition, the market capitalization of all digital assets is around $ 164 billion.

 In general, almost all the cryptoactive ones of the market show downward movements of up to more than 5%; with the exceptions of Stratis, Steem and TenX among the 50 most valuable, with an increase of more than 5%.

The possible reasons that would justify these movements could be linked to the announcement issued Monday, October 16, about the cessation of services by the Bitfinex exchange house to individuals resident in the United States. Also this October 17 was  published  a report of Trading Commission Futures and Commodities ( CFTC , for its acronym in English) in the same country where they commented that " virtual tokens that made initial offers of Coins (ICO) can be regulated under its jurisdiction . "

 Bitfinex is the  exchange house that handles the largest transaction volume in the bitcoin / dollar pair , with more than 14.85% of the total volume according to CoinMarketCap . Thus, a movement like this undoubtedly affects the price of Bitcoin and with that of the rest of the cryptoactive.

No less important, are the comments made by the CFTC, which seem to have generated uncertainty among cryptoactive investors because  much of the latest digital assets launched to the market have arisen from ICO, a method of collection little regulated so far. It seems that the CFTC will consider the cryptoactive, in the same line maintained by the SEC,  as commodities (commodities).

 It is likely that this news has affected the price of Bitcoin and thus the entire market for cryptoactive, since so far the prices of most of the cryptoactive remain dependent on the value of Bitcoin .

Fuente: https://goo.gl/KW16cr 

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Regulation is a good thing, its a sign that the regulators aren't going to ban it.