The BTC is being dragged down again. On Wednesday, the leading crypto is declining to 16,827 USD. And while yesterday there was a good chance to return above the resistance level of 17,200 USD, today this scenario just has no reason to be considered realistic.
There is no correlation with the US stock markets, neither there is any connection to the real situation around. The crypto market is in a standby mode.
The risk factor is the same: trust and safety issues. After the epic crash of the FXT exchange and some problems with Genesis, investors tend to doubt everything they see.
Capitalisation of the crypto market today is 837.97 billion USD; the BTC takes up 38.5%, the ETH — 17.9%.
Jeffrey Sprecher, director general of ICE, the operator of the NYSE, thinks that cryptocurrencies need to be regulated like securities are. This method would provide optimum protection to clients. Moreover, nothing has to be developed from scratch: all the legislation already exists.
A crypto broker from Hong Kong, the Amber Group, initiated new layoffs again. It had to run to decreasing the financial load and stopped looking for new investors due to the sudden death of its head. It was reported earlier that the company planned to attract 3 billion USD.
The Bitwave platform (Crypto accounting, tax and compliance) gathered 15 million USD in a serious A round of financing. The project needs finance to launch new products, including Bitwave Institutional. It is aimed for helping organisations that store and carry out transactions and use digital assets.
Article By RoboForex.com
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