Bitcoin falls sharply after CFTC announcements

A black day for the crYptocurrences was registered this Wednesday. The bitcoin falls by more than 8% and with exceptions, other virtual currencies have also suffered a sharp fall. The reasons for the sharp decline in bitcoin are linked to a report by the Commodity Futures Trading Commission (CFTC) of the United States, where it says that it could put under its scrutiny some Initial Coin Offers. The news did not go down well in the crypto-currency market and prices collapsed.

BITCOIN FALLS 8.4%

A sharp drop in virtual currencies was seen in the markets, after the CFTC, in a summary of assets, pointed out that some tokens or tokens used in the ICOs may be under its supervision.

The agency's statement tested the sensitivity of the market for crypto-coins and bitcoin fell 8.4% and its price dropped to $ 5,109 per unit.

The sharp drop in the most popular virtual currencies can be seen as an opportunity for those investors who want to recover positions in bitcoins. If so, many expect a rebound and this fall of the bitcoin could last little.

The United States Securities and Exchange Commission (SEC) expressed a very similar sentiment and asserted that the tokens of some Initial Currency Offers could be under its supervision. In this sense, the CFTC said that there are no inconsistencies between what is indicated by the SEC and the CFTC, since since 2015, virtual currencies are considered basic assets.

THE VOLATILITY OF THE VIRTUAL CURRENCY MARKET

It is not the first time in a short time that the bitcoin falls hard. A few weeks ago, the regulatory measures imposed by the Chinese government caused a noticeable drop in the price of the virtual currency.

Despite this, investors, after the initial cimbronazo gave a strong push to bitcoin, which on October 13 reached $ 5,866.

Analysts now consider that, taking those past experiences, if bitcoin falls as a result of regulatory measures in US jurisdiction, it could only be a transient episode.