Bitcoin and Altcoins Under Pressure

In Asian area it’s not a good trading day for bitcoin, nor for many other digital currencies.

Currently, bitcoin is trading at $12,900 on Bitfinex Exchange, which is below the high of $14,300 affected earlier in the session.

According to the latest reports, Chinese regulators are looking to clamp down further on cryptocurrency trading. Bloomberg report says they are targeting online platforms and mobile apps that offer exchange-like services, citing people familiar with the issue.

Bloomberg says that during the time cryptocurrency exchanges were banned last year, they have mentioned an uptick in alternative venues activity.

As an unnamed source pointed, the Chinese government is planning to close domestic access to homegrown and offshore platforms, which allow centralized trading.

The tablet below shows that it’s not just bitcoin’s price that is red today, but other major cryptocurrencies too.

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from Bitcoin News https://www.cryptocynews.com/bitcoin-altcoins-pressure/
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