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Monday 10 December: Crypto markets have failed to hold another recovery attempt, with almost all the top 20 coins by market capitalization in red at the time of printing.
After a slight impact on December 9th with Bitcoin (BTC), which saw its price rise from $ 3,400 to over $ 3,600, markets are undergoing another decline while losses in the 24-hour period for some major currencies exceed 9%, according to CoinMarketCap.
Market display from Coin360
The main bitcoin cryptocurrency is down 4.59 percent, trading at $ 3,474 at the time of printing. As noted earlier today, the Bitcoin volatility index has recently increased three times a month, after a period of price stability.
Exactly one year ago, on 10 December 2017, the price of Bitcoin was $ 17,102 per currency, almost 80 per cent higher than the price of Bitcoin today. The Bitcoin market index is 55%, down from 62.4% a year ago, according to CoinMarketCap data.
Chart of prices of all bitcoins. Source: CoinMarketCap
The second cryptocurrency by market capitalization, Ripple (XRP), sees more losses today, down by almost 5 percent in the last 24 hours and traded at $ 0.301 at the time of printing.
7 days XRP price chart. Source: CoinMarketCap
After falling below the $ 100 price on December 6th, the highest ethnic Ethereum (ETH) has dropped to $ 90 per coin at the start of today. The altcoin is trading at $ 90.99 at the time of printing, down nearly 6 percent over the 24-hour period.
Dash is seeing the biggest losses in the top 20 coins at the time of printing, with its price down 9.58% and trading at $ 68.14.
Total market capitalization is $ 110 billion at the time of printing, down from $ 115 billion at the start of the day. Daily trading volume is $ 13 billion at the time of printing.
7-day chart of total market capitalization. Source: CoinMarketCap
Recently, the Indian government has suggested proposing new regulations to completely ban cryptocurrencies in the country. According to anonymous sources, a government panel "categorically said" that cryptographic operations should be considered illegal and monitored by the Indian banking institution of the India Reserve Bank of India (RBI).
While India may soon join the list of anti-cryptic countries like China, some European countries have adopted a more cryptic regulatory approach. It is assumed that the UK Parliament is considering granting payments to local authorities and public service providers with Bitcoin. At the end of November, the Liechtenstein authorities granted a license to Cryptoassets Exchange (LCX) to operate as a fully regulated blockchain ecosystem.
Meanwhile, the mining industry of the crypto industry continues to struggle, with Chinese mining giant Basmain closing its development center in Israel, as well as firing local staff.
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