Cryptocurrencies continue to fall following a week which had looked promising.
Last week saw Bitcoin reach a monthly high as it climbed to $7,350, however a heavy sell-off on Saturday followed by a continued bearish market has seen Bitcoin fall to its current price of $6,300.
Ethereum’s price has also seen a big hit as its price has dropped below $200 for the first time since July 2017. Bitcoin Cash (BCH) has fallen to $465, way off its all time high of $4,000. Ripple’s XRP has dropped to $0.27.
‘Crypto-assets are here to stay’
It is not all doom and gloom in the crypto space however, as Valdis Dombrovskis, vice president of the European Commission stated that, “crypto-assets are here to stay…” Dombrovskis went on to talk about the necessity of regulating the crypto market and whether existing financial regulations should apply or whether cryptos need their own specific regulations.
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