The price for cryptocurrencies has mostly recovered on Friday, with bitcoin being slower to keep rising for the second day.
The leading digital coin in terms of the market value has been mainly moving sidelines earlier today. Meanwhile, other coins posted gains. Since the start of February the bitcoin rate collapsed from the $10,000 to below $6,000-line due to policy by Beijing and Seoul and fears that other countries may follow them.
In total, the price for virtual currencies was backed by surprisingly modest statements by the heads of Commodity Future Trading Commission and Securities and Exchange Commission to the Senate this week.
Bitcoin was detected today at $8,430.10 (6% down w-o-w). The Ethereum changed hands at $852.84 (11% down). The top-3 Ripple coin spiked to $0.8930.
“We owe it to this new generation to respect their enthusiasm for virtual currencies, with a thoughtful and balanced response, and not a dismissive one,” commented Christopher Giancarlo during his message. “It's important to remember that if there were no bitcoin, there would be no distributed ledger technology," he added.
“We may be back with our friends from Treasury and the Fed to ask for additional legislation,” told Jay Clayton.
However, concerns persist and keep depressing the market mood – authorities still attempt to boost control over digital coins worldwide. For example, Gibraltar has announced a launch of the first ICO regulation in the world to set a number of rules for the fast-growing crypto market.