Cryptocurrencies weaken over weekend

Posted 05 March, 2018

After hitting $11,500 bitcoin trimmed gains on Sunday, followed by other major digital coins.

The leading cryptocurrency in terms of market value changed hands on the Bitfinex at $11,130 over the period under review (1.85% down from the Saturday's peak at $11,526). 

Ethereum, the second major coin, decreased n price to some $843, while Ripple was at around $0.89 (1.5% down).

For reference, bitcoin peaked at $20,000 last December, but then more than halved falling below $6,000 in early 2018.
Last Friday, BOE's Chairman called for stricter regulation of the cryptocurrency sector stating that digital coins failed to become full value payment means.

"It is high time to take the cryptocurrency market under control and eliminate illegal activities, providing the similar protection as the traditional financial system gets," he commented.
His warning came in line with tougher cryptocurrency policy followed by regulators in different countries worldwide.

In particular, the EU stated that it started preparing to take measures for cryptocurrency market regulation last month. Meanwhile, China banned cryptocurrency platforms and ICO back at the end of last year.

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05 March, 2018 15:08

← US dollar generally stable amid fears of import duty launch in USA

The US dollar stays generally stable vs the majors. Traders are concerned about the announced imposition of import duties on steel and aluminum in the USA. The US dollar sentiments softened once Donald Trump announced last week plans to impose import duties on steel and aluminum (25% and 10% respectively) striving to protect national producers.

US dollar generally stable amid fears of import duty launch in USA

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05 March, 2018 11:31

Euro somewhat settles down after negative Italian reports →

The European currency has started this week with stabilization vs the US dollar and slower weakening against the yen and franc. Moreover, the euro has even posted gains vs the majors "as the market calms down after the first negative reaction to the general elections in Italy", according to Interfax.

Euro somewhat settles down after negative Italian reports
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