Monday morning, an increase of 8 % has been noticed at the level of the price of Bitcoin. For Ethereum, an increase of approximately 6 % has been recorded. The value of the Ripple has jumped more than a dollar for the first time in over a fortnight. The market capitalization of crypto-currencies is now estimated to be over $ 400 billion, according to CoinMarketCap.
48 of the 50 digital currencies listed on CoinMarketCap have seen an increase. Ethereum and Litecoin, have seen rises of 6.3 % and 6.2 %. London Block Exchange said in its report Monday that the increases are still not impressive in the context of the decline in the market of crypto-currencies.
Check out below for a video predicting the evolution of the price of Bitcoin, Ethereum, and Ripple :
Increases not so surprising
London Block Exchange explained that in taking a step back, since last Wednesday, the Bitcoin and most crypto-currencies have experienced increases. The evolution of the market is very volatile at this time, said the company. Fortunately, the downward trend did not last long.
Source : Pixabay. The price of the major crypto-currencies have experienced increases.
The recent price increases are threatened by a crackdown in Hong Kong. Analysts fear that Beijing prohibited its citizens to use of exchange platforms based in other countries. This situation would make it difficult, if not impossible, for the majority of Chinese people to exchange digital currencies such as Bitcoin, Ethereum, Ripple or other crypto-currencies.
The position of Hong Kong
The regulator of Hong Kong, the SFC (Securities and Futures Commission), announced on Friday that it would crack down on companies exchanges of crypto-currencies that operate in the financial center asian without a license. The SFC said it had received complaints from investors. The latter would have been unable to withdraw digital currency from their accounts.
Some exchange platforms based in Hong Kong are relevant to this case. On the other hand, several complaints against the issuers of ICO have also been received by this regulator. If Hong Kong decides to implement new measures, it would be likely to decrease the price of the digital currency.
Source : Metro