On February 5, the leading cryptocurrency in the world – bitcoin – has plunged to the bottom since last November driven by possible stiffening of crypto trading control.
Bitcoin price on the Bitfinex was recorded at $7,800 this morning falling to a multimonth minimum.
The crypto market witnessed a price collapse on Friday with bitcoin falling below $8,000. As a result, the market capitalization dropped by more than $100 billion. Positions of cryptocurrencies were affected by possible tightening of the crypto trading policy, virtual coins restrictions as well as a probable market crash.
For now, the American bodies have launched a case to find out whether the 2017 hike in bitcoin came out from the certain manipulation in the crypto market.
Specifically, U.S. Commodity Futures Trading Commission checked the Bitfinex platform for probable connection to Tether as the latter coin is considered to be a booster of bitcoin price. For reference, Tether company states that its coins are secured by the company reserve in US dollar terms. Yet, it failed to confirm this statement.
As a result, some large companies, including Lloyds Banking Group, J.P. Morgan Chase, Bank of America and Citigroup, do not permit their clients to buy digital coins via credit cards.
In addition, the top-2 major cryptocurrency, Ethereum went down to some $796 on the Bitfinex, while Ripple touched $0.76 (some 18% down).