The prices for cryptocurrencies decreased on Thursday driven by an uncertain market situation. Moreover, the market expert believes the industry will most likely keep drifting downwards since investors pay little attention to the market reports now.
Today, Bitcoin weakened to $6,549. Ethereum prices dropped to $204.54. XRP and Litecoin changed hands at 0.46251 and 51.710 respectively. The total market capitalization was recorded at $209.3 billion.
The cryptocurrencies are likely to keep weakening in the near term.
It is quite possible that the crypto market reacted to the message that Spain approved the draft bill that makes the players disclose all cryptos data and related transactions to the fiscal services otherwise they will face EUR 5,000 fine.
Meanwhile, in Germany, the Berlin appeal court determined that cryptos has no status of a financial instrument. As a result, such decision conflicts with the position of Germany's regulator making crypto regulation more complicated in the EU.
This week the Japan Virtual Currency Exchange Association became an official self-regulated organization in the market, which is believed to boost the attractiveness of the country's crypto segment.