Cryptocurrencies continue to slide down amid mixed news

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The main cryptocurrency on Thursday again moved to reduce contradictory news background. Probably in the short term the stock market will continue the same incoherent dynamics, as in recent years investors have little react to the news.
Negative news for the stock market could be the message that Spain agreed a draft law requiring disclosure to the tax authorities of all digital assets and operations. For offenders set a fine of $5 thousand Euro.
However, the Berlin court of appeal adopted a decision denying the status of cryptocurrency as a financial instrument. This is contrary to the opinion of the financial regulator of the country and complicate the situation with the regulation of cryptocurrencies in the European Union.
At the same time in Japan, the Association of crypto-currency exchanges became an official self-regulatory organization. The new status will help to improve the image of the stock market in the country.
Bitcoin exchange rate at 11.00 decreased for a day on 0,8% – to $ 6549 capitalization of $112,5 billion Ethereum by this time has fallen in price on 1,3% – 204,2 USD, its market capitalization of $20.8 billion XRP per day fell by 2.13% to $ 0.46 capitalization of $18.3 billion. Litecoin by this time weakened by 1.31% to 52.9 per dollar, its market capitalization amounted to $3.1 billion.
The total capitalization of the stock market reached $of 209.3 billion.
It can be expected that in the near future bitcoin may go down to 6500$, Ethereum – go down in price up to 203 USD, XRP – to decline to 0.45 per dollar and Litecoin is cheaper to 51.5 dollars.
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Ivan Marchena,
Analyst
GK Forex Club