Cryptocoins fall again after a good dive Bitcoin
It remains a painful week for Bitcoin, and virtually every cryptocurrency. Yesterday, Bitcoin again dropped below $9,000, despite the expectation that the lower limit had been reached. For the time being there is no stable basis where the cryptocoin knows how to stay above. The road up is being used again. Unfortunately, the rest of the top ten also had hits.
Bitcoin dives again under $9,000
Despite the large differences, the relationship between Bitcoin and other cryptocurrencies is strong. As long as you continue to see them as an investment, for profit, that will remain so. When Bitcoin falls, the rest of the market goes along. The fact that Ripple has a completely different purpose, for example, really does not matter anymore. There will also be no change for the time being.
A bloodbath like we experienced last month will hopefully go out. Ethereum and Ripple were down five percent, and Bitcoin Cash and Litecoin even eight percent. News about approaching regulation seems to be hindering the way up. Investors wait for such measures, a logical strategy. Especially with a view to the past. We have experienced the impact of such procedures more often.
It also does not help that Goldman Sachs shared conclusions of his investigation last Monday. This is one of the world's largest investment banks, with which the impact on the price value and decisions of investors is large. The American giant expects Bitcoin to even drop below $6,000. That was the low point of February. A low point that we had not experienced since November. At the time, however, the currency was climbing hard, while the decline is now continuing.
So there is a basis for further growth. For the time being, however, we can not leave the February massacre entirely behind us.
Perhaps there will be a second bloodbath. At least, the second of this year. After all, we have already experienced many. The chances of the cryptocurrency going through it is therefore great. Keep in mind, however, that nobody knows what the future will look like. In the meantime, let's take a look at the other news.
Japan continues to urge the G2o to introduce regulation for crypto, in all participating countries. Japan wants to protect consumers and prevent money laundering. Thailand is even planning to adopt new laws this month. Fortunately, there is also good news.
South Korea will again allow ICOs, but this time with stricter rules. Meanwhile, the European Commission has reported that there is no legal basis to ban minors from cryptocurrency. The rapid increase in energy consumption seemed to lead to this. So, for the time being, such measures will be happy.
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