Bitcoin prices continues to decline against the dollar trading at around $7600. The digital currency is struggling to bull above the $8000 after its major decline last week.
Bitcoin closed last week with its largest drop candle since December last year and analysts are predicting further losses as the correction continues.
The total crypto market capitalization as a result of this fluctuation has also declined by approx. $10 billion over the past 24 hours.
Regulations on cryptocurrencies seem to be getting stricter. The G20 finance ministers and central bank governors asked yesterday the Financial Stability Board (FSB) and global standard-setting organizations to monitor risks arising from cryptocurrencies even though Crypto assets do not have any effect on the global financial stability at this moment.
With the regulation pressing on the digital currencies risk and investors concerns, will we see the cryptos adopting a bearish trend for the third quarter of the year?
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