Bitcoin fell by almost 10 percent due to the financial regulator of Japan

Yesterday the price of Bitcoin fell nearly 9 percent after the Japanese financial regulator. The organization has ordered multiple exchanges to improve preventive measures against money laundering. It is reported by CNBC.

Bitcoin fell due to new restrictions

According to Coinmarketcap, the price of bitcoin has dropped to 6081 dollar, breaking below the support level of 6400 dollars. At the time of this writing, Bitcoin is trading around $ 6160, this is the lowest price in almost six months.

The cause of the fall could be the order of the Japanese financial regulator largest stock exchange of the country bitFlyer. Exchanger ordered to suspend the establishment of new accounts until the security bitFlyer does not implement necessary improvements in the platform. To them that includes the prevention of money laundering and financing of terrorism.

Our managers and employees understand how important are these problems. We are also aware that need to be addressed before moving on. To as efficiently as possible to exclude all illegal actions with our platform, we are temporarily halting the registration of new users on their own.

The financial regulator also applied to five other major exchanges with a similar request. The decision of the official authorities commented analyst Brian Kelly.

In the long term, these measures create the best ecosystem and increase the credibility of the crypt, as a reliable financial asset. It is a necessary sacrifice to strengthen the position of exchanges.

However, in the short term, Kelly sees decline in capital inflows to the largest exchange in the biggest sector of the stock market. According to the service CryptoCompare, the volume of trading for the Japanese yen is 60 percent of the total daily trade volume of Bitcoin.

Analyst and founder of Advisors Newton mark Newton is confident that even a small news may develop a greater drain of the cryptocurrency. According to him, we are waiting for another couple of weeks of a downward trend with a slight retracement up to $ 5,000 before the final lows.

In a small price range with low volume of only one major short can lead to panic and a massive drain. Now the market lacks the interest of the people and new buyers. So at the moment the bears are in full control of the situation.

With the beginning of 2018, the price of Bitcoin fell more than twice at $ 20,000. Capitalization of bitcoin has dropped to $ 105 billion. The market does not give clear signals to sure you purchase the crypt.

During the recent plum also suffered altcoins. For example, the second cap Ethereum fell by 9 percent and the Cash of Bitcoin and Litecoin lost as much as 11 percent of its value.

Recall that Japanese regulators were among the first who began to lead an official investigation in the area of crypts. In March, the financial Supervisory authorities have opened several criminal cases after hacking exchange Coincheck, and in may, expressed the initiative to ban anonymous cryptocurrency.

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