• Negative press continues to affect the bitcoin price negatively, as at the time of writing bitcoin price still remains under $7,000.

Some factors negatively affecting bitcoin's price are the child porn saga, market manipulation and the futures markets

• The entire cryptocurrency market is also affected by this bearish trend as the market was down a full 20% this week alone.

Some events that are shaping the trends in the markets:

---

1. Kazakhstan's national bank plans to ban cryptocurrencies for fear of money laundering

2. Russia is planning towards regulation of cryptocurrencies in Russia, and launch of its own cryptocurrency

3. Nigeria warns against use of cryptocurrencies to protect its citizens against ponzi schemes

4. Denmark blocks trading of cryptocurrencies due to lack of transparency and money laundering issues

5. The russian association of cryptocurrency filed a lawsuit against google, twitter and facebook for banning cryptocurrency adverts

6. The bank of england is testing a blockchain system for bank to bank transfers

7. China has declared cryptocurrencies a top priority and is making plans for an official cryptocurrency

8. A drug dealer in the US was arrested and tried under Arizona laws for money laundering using cryptocurrencies.

9. Reddit has disabled bitcoin payments amongst its reasons was coinbase's ability to process payments.

10. Monero was hacked to the tune of 320 moneros ($63,000)

11. The US treasury endorses cryptocurrencies by advising government agencies that look to use cryptocurrencies

12. Ethereum infighting becomes more apparent as there is a clear faceoff against ASIC miners

---

You can get the full news in detail here: Referenced from CCN