Cryptocurrencies have continued tumbling on Tuesday as the regulators tighten control over the crypto market and investors withdraw funds from risk assets worldwide.
According to the Coin Desk data, bitcoin price was recorded at $5,995.58 during today session, falling below $6,000 for the first time since last November.
Later in the morning the coin slightly improved to $6,156.13 (11% down d-o-d).
Notable, Ripple, Ethereum and Litecoin reportedly nosedive as well.
Two regulators in the USA are about to address a proposal to the Congress regarding a launch of federal control over crypto platforms.
According to the reports, the heads of CFTC and SEC will take part in the hearings by the US Senate Committee on Banking today.
Lately, the Head of European Central Bank commented that bitcoin along with other digital coins are dicey assets, and investors might be very careful with them. He also added that banks show no rush demand for these currencies so far. However, with recent bitcoin futures entering the market, European banks may also consider opening bitcoin positions soon.
For reference, the crypto market capitalization has slumped by more than $500 billion since the start of 2018 due to stricter regulation in a number of countries.