Crypto-currencies on Tuesday continued their decline after a brief suspension on Monday. The main decrease in Tuesday occurred in the American session, when bitcoin fell by $ 300, down to $ 6 578. According to the portal of CoinMarketCap, on Tuesday, June 12, the first crypto currency lost 3.11%, Ethereum fell 5.00%, Ripple - on 4.19%, Bitcoin Cash - by 6.49%.
The drop on the cryptory occurs on a negative news background. Wells Fargo, the third in the list of the largest US banks, has forbidden customers to use credit cards to purchase crypto currency. This happened in the wake of a number of other major financial institutions in the United States, - says Bloomberg.
Thus, the entire large "four" of the largest American banks, which includes Wells Fargo, Citigroup, JPMorgan Chase and Bank of America - have banned buying crypto assets using credit cards. The last three banks did so in February, referring to market volatility and credit risks.
As representatives of the organizations noted then, they are worried that they will be "hooked" if, by acquiring a crypto currency, the client loses money and can not repay the loan.
According to last year's research by LendEDU, approximately 18% of investors buying bitcoins used a credit card to purchase. Of these, 22% could not pay off the loan after buying a crypto currency.
The British Office for Financial Regulation and Supervision (FCA), which controls more than 58,000 financial firms and markets in the UK, warned bank executives about the possible risks of working with crypto-currencies. The FCA letter is addressed to banks and calls for careful checking of the activity of customers and consumers if it is believed that they operate on what the FCA calls "crypto assets".
The bitcoin rate is approaching $ 6,500, the minimum markings of April, from which then the Crypto currency turned up. What to expect next?
According to analysts, the growth of bitcoin will have to be postponed so far. A sharp drop below $ 7,000 closed the fast road to new heights before bitcoin. Crypto currency needs a long process of recovery before the new bull trend, - reports CNBC.
Expert from Fundstrat Global Advisors Robert Slammer believes the mark of 7777 dollars is key to bitcoin. Only after confidently overcoming this boundary can we speak about the beginning of the gradual growth of the crypto currency.
Bearish trend, which began in May, still remains in force. We need a clear reversal signal to be sure of a trend change, "the analyst said.
Bitcoin has already fallen by 50 percent since early 2018. Nomura Instinet executive director Frank Cappelli believes that the coin should roll back to the upper limit of the Bollinger Bangs indicator for a signal about the beginning of a new trend. At the moment it is in the region of 8577 dollars, - writes 2bitcoins.
CEO of Kimble Charting Solutions Chris Kimble warned of the need to keep the key level at 6747 dollars. If bitcoin falls significantly below this mark, then you can already talk about the next "sink" up to two thousand dollars.
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