Bitcoin declined below $8,500 today, which could cause it to experience additional losses. However, ... [+] the digital currency has enjoyed notable gains this year, so its short-term drop may simply be a temporary pullback. Photographer: Chris Ratcliffe/Bloomberg © 2018 Bloomberg Finance LPBitcoin fell below crucial support today, a move that could trigger additional downside and also threaten the bullish momentum the digital currency has enjoyed in recent weeks. “We are continuing to see the operational infrastructure of the industry evolve positively for digital assets,” said Charles Hayter, cofounder and CEO of digital currency data platform CryptoCompare. Further, “global regulators are working in conjunction to harmonise rules on AML KYC, travel rule and general standards for exchanges and custodians to operate by.”“This gives standardisation across national jurisdictions which allows for certainty of business and derisks for companies involved.”Disclosure: I own some bitcoin, bitcoin cash, litecoin, ether and EOS.

Source: Forbes January 23, 2020 17:37 UTC