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The bad news for new digital currencies does not seem to end. Although the Bitcoin (BTC) still manages to withstand over $ 6,000, being traded at around $ 6,200 at the time, the other cryptocurrencies continue to lose a lot of ground compared to the prices at the beginning of the year, so much so that the rebates exceeded those following the bursting of the "Dot Com" bubble at the beginning of the 2000s.
A striking example is the Litecoin (LTC), which only loses 8% today, falling below 48 $. The negative trend can be seen in the graph, highlighted by the formation of a channel with lower and lower minima and maximums. The Ethereum (ETH), second cryptocurrency by capitalization after Bitcoin, shows a similar pattern.
Vitalik Buterin, creator of the latter digital currency, in a tweet said he did not see the chance of the repetition of the upward trend in which these new financial assets were protagonists in recent years (which, at the top, was in the order of a price increase of 1000 times). In addition, Buterin recalled that much of the past growth was due to groups of investors who had never heard of cryptocurrencies and who turned to buy them. Now that the market is more "mature" there is no longer this possibility and even ordinary people are aware of the cryptocurrency phenomenon.
Another piece of news that has certainly not helped to keep prices high is that two Wall Street financial regulators would be doing some hostile actions against companies operating in the cryptocurrency field.
These actions are attributable to the payment of fines to these companies and to considering some tokens as real financial assets, to be subjected to anti-money laundering control and taxation of capital. All this, if confirmed and extended, would be a serious blow to the market and some suspect that behind the trump of the administration Trump, who is afraid that with these new digital assets can be bypassed the sanctions imposed on various rogue states, as Venezuela or Iran.
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Source: IQOption blog 2018-09-12 14:45:29
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