The bitcoin exchange rate fell after entering the EU Directive
Stock Markets Group – bitcoin exchange Rate rose slightly today, after the sudden collapse of prices on the eve of almost 6 $ 200.
Drop in value occurred after it became known about the beginning of the new EU Directive on combating money laundering. The price of Bitcoin are unable to meet the expectations of buyers and tumbled from recent highs, confirming a range in which is trading for almost a month.
The rates of other cryptocurrencies remain in positive territory, supporting the dynamics of the main coins.
So, Bitcoin Cash has appreciated by 0.57% and is at level 690$ for the capitalization 11 993 billion. Course Ripple rose by 0.43% and reached 0.44$ at market capitalization 17 578 billion. Ethereum increased by 0.97% and reached 436$ in market capitalization 44 371 billion.
13:50 Moscow time., major exchanges show the following values of the rate BTC/USD:
Bitstamp – $ 6 343 (+0.73%)
Bitfinex – $ 6 347 (+0.8%)
Coinbase – $ 6 347 (+0.69%)
The market capitalization of Bitcoin at the moment is $109 561 billion Total capitalization of the stock market 222 890 billion.
Bitcoin exchange rate under pressure from the EU regulators
The fifth EU Directive, which became known on 9 July, amending the law on the regulation of cryptocurrencies that result in tightened supervision over sales of digital assets and establishes a new legal framework regarding bitcoin and other coins.
The purpose of the document is the prevention of money laundering and financing of terrorism.
The new rules provide more transparent and strict requirements for the use of anonymous payments through payment cards and crypto currency exchange.
In the press release of the EU Commission States:
“Fifth Directive aimed at combating money laundering expands the interaction and exchange of information between the prudential regulators, including the ECB, to combat the shadow schemes”
The illicit use of bitcoin and other digital assets, the regulators and other oversight bodies should have access to the monitoring system.
“To ensure the fight against money laundering and prevent financing of terrorism, the regulators should be able, through appropriate organizations to control the use of cryptocurrency”
As an important condition for the exercise of such control must have access to the credentials of users who should be accountable, and the ability to associate specific owners with cryptocurrency wallets.
Within 18 months after commencement of the Directive, the European Union will need to amend regional laws into compliance with the new rules.
Upon receipt of this news in the cryptocurrency market, bitcoin exchange rate dropped significantly as investors expect new bans that will follow in other countries in the light regulation of the cryptocurrency market.
In the end, according to experts, if these trends continue, bitcoin could soon lose such important characteristics as the anonymity and independence.
For the crypto community at the time, when the operation with bitcoin, the network will no longer be anonymous, and the system directly or indirectly will be controlled by the government and financial regulators.
Bitcoin exchange rate today
During yesterday bitcoin fall caused another panic, which had a negative impact on courses of cryptocurrency in the top ten. The main cryptocurrency broke down and within a few hours fell more than 7%.
The market reaction was instantaneous and, it seems, by the fall of asset prices, investors have played a small increase in coins last week.
The market situation is in favor of sellers, even given the small growth we see today.
On the one hand the exchange rate of bitcoin remained above the key level of $ 6,000 that does not allow the coin to go below. But on the other. The narrow range in which the cryptocurrency is already a month, it has become quite comfortable for the speculators who trade bitcoin from its borders.
We expect that over the next few days the digital asset confirms the current decline and breaking the support will fall in the region of 5 800$.
The current respite in the form of technical rebound, likely a temporary phenomenon, especially because of the serious fundamental reasons for the growth in the value of Bitcoin yet.
Market analyst cryptocurrency
Stock Markets Group™