Bitcoin is falling lower and lower and breaking the level of USD 8,000, recently listed on the stock exchanges at the end of November 2017. The most popular cryptocurrency loses more than 30% from Monday’s highs USD 12,000. Information about potential regulations that may limit the anonymity of cryptocurrency holders is still considered almost the sole factor of the massive sell-off launched at the end of January, when the BTC/USD was above USD 17,000.
The envisaged introduction of regulations consisting, among other things, in providing personal data of cryptocurrency holders probably prompts holders to dispose of them for several reasons, but the most important is the desire to circumvent taxes and loss of attractiveness for the Darknet sphere, where the transactions were effectively anonymous.
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What’s more, Ripple is testing the area of 0.72 USD, the lowest level since the end of December, while XRP / USD is down by 78% from the record high around 3.32 USD from the beginning of January.
The same direction is followed by ETH/USD, currently located around 2-week lows close to 820 USD. According to coinmarketcap.com, the market capitalization of Bitcoin is approximately USD 138 billion, Ripple’s approximately USD 29 billion, and Ethereum slightly below USD 84 billion.
