Investing.com – Cryptocurrencies collapsed on Thursday, while a global selloff continued, worried that the crypto-bear market is here to stay
fell by 8.82% to $ 6,416.60 on the Bitfinex bag, at 8:57 AM ET (12:57 GMT), not far from a previous minimum of $ 6,366.60.
Overall cryptocurrencies have increased slightly, with the capital cap of total market capitalization at $ 202 billion at the time of writing compared to $ 239 billion on Wednesday.
the second largest alternative currency by market capitalization, fell 14.97% to $ 224.24, while the third virtual currency decreased by 7.37% to $ 0.28313 and stood at $ 54,995, down 13.06%
Financial giant Goldman Sachs (NYSE: GS) is withdrawing from his plan for a Bitcoin trading desk, Business Insider reported Wednesday. The financial institution will instead focus on other projects, such as holding digital coins on behalf of large fund customers, but could look into a trading desk in the future.
While alternative currencies have increased in popularity, many Wall Street companies are looking for ways to enter the rapidly growing field. But with Bitcoin down nearly 70% from its peak of nearly $ 20,000 in December, that interest is dying.
Meanwhile, the ShapeShitf trading platform said it will ask users for personal information, causing concern among encryption enthusiasts that other platforms will follow the example. Part of the fascination of some investors for Bitcoin and other alternative currencies is their anonymity and decentralization away from government control. But as regulators all over the world struggle with the supervision of the sector that could change.
In other news, the price of Bitcoin in Iran reached a record of $ 24,000 on the Iranian EXIR exchange following news that the Iranian government has agreed to recognize the extraction of digital coins as an industry. The Central Bank of Iran is expected to develop a political framework for cryptocurrencies in the next two weeks. The government hopes that the potential use of alternative currencies will help facilitate trade between Tehran and its partners in the wake of renewed US sanctions.
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