| Following a few rather turbulent months, the cryptocurrency market slowed down. However, Bitcoin's volatility fails to do any grace with the peace of investors' mind. Currently, we can't seem to see new money in the markets and many investors are sitting aside. At the same time, it's important to note that the trading volume increased steadily ever since April 2019, even though it should be noted that the volume is not fully-regulated and oftentimes some exchanges do not reflect real volume but rather an attempt to manipulate the numbers. After all, the cryptocurrency market is still relatively young and small, hence strong whales are capable of moving the market. Regulation is here and it's no longer possible for legislators to ignore the crypto phenomenon which continues to gain momentum. Facebook's Libra has raised the issue of digital currencies to the top of the agenda and many executives in the global economic systems have already expressed their positions on the matter, including the US President Donald Trump. Despite the many concerns which surround the Libra project, there is no doubt that it will be promoting the regulatory debate on the subject. We expect to see more and more regulators looking closely at the industry and issuing their guidelines and clarifications as well as stringent enforcement over exchanges, fundraising, and so forth. |
Bitcoin Losses The $10,000 Level, As Regulators Step In: Crypto Market Update