The downdraft was created by a SEC statement regarding digital currency exchanges. In December last year, SEC Chairman Jay Clayton released a statement about cryptocurrencies and Initial Coin Offerings. The one week chart below shows yesterday’s drop below $10,000 and a further drop today to around $9,300. coindesk.comThe statement added, “The SEC staff has concerns that many online trading platforms appear to investors as SEC-registered and regulated marketplaces when they are not. coindesk.comThe second chart shows Bitcoin’s 50-, 100- and 200-day moving averages, which are the blue, red and green lines, respectively.
Source: Forbes March 08, 2018 18:08 UTC