Crypto Currency News

Bitcoin price still fails to achieve expected recovery and is down 3%

Today's session has not had too many relevant events within the crypto ecosystem

Bitcoin (BTC) fell back more than 3%. The leading cryptocurrency not only fails to recover, but in recent days it has registered several daily drops that bring it closer to 30 thousand dollars. As of press time, the price of BTC is $ 31,650.

Today’s session has not had too many relevant events within the crypto ecosystem, although it did from the outside. The US State Department announced that it will begin to play a more active role in regulating the market. The intention of President Joe Biden and his team is to be able to track crypto payments, mainly to be able to face ransomware attacks.

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Cybersecurity has become one of the main points of the US government’s technological policy, and the role of cryptocurrencies as payment for these attacks will have investors waiting in case of progress in regulatory terms.

In recent days, moreover, the Securities and Exchange Commission (SEC) also reported that in September it will release a report on cryptocurrencies, stablecoins and central bank digital currencies (CBDC), which seems to suggest that the long-awaited regulation is increasingly closer.

The rest of the market also had a bearish session. Ether (ETH), the benchmark altcoin, is down nearly 5% and away from $ 2,000. After holding around the level for almost 24 hours, this morning it hit lows of $ 1,900 and is now trading just above that level.

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Dogecoin (DOGE) and polkadot (DOT) had the worst returns of the day, with 6% declines taking them to $ 1.18 and $ 13.06 respectively. Cardano (ADA) and XRP are down 3% and are trading at $ 1.22 and $ 0.59. Binance coin (BNB), on the other hand, was the only digital asset – among the main ones – to rise: after a growth of 1%, it is trading at USD 312.

Lastly, bitcoin cash (BCH) and litecoin (LTC) are down 4% and are trading at $ 425 and $ 125 respectively.

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