Reading time: ~ 2 m
Bitcoin ends the week with a retreat, with BTC dropping to $ 47,964 on Friday, December 10th. The capitalization of the leading digital currency has fallen over the past seven days by more than 15% to $ 902.595 billion.
The entire crypto market today also plunged into the red after amid sell-offs that resumed following congressional hearings on regulating the blockchain industry.
Ether (ETH) price fell to $ 4058, Binance Coin (BNB) and Cardano (ADA) fell more than 3% to $ 574 and $ 1.24, respectively. Cryptocurrency market capitalization fell during the European session to $ 2.227 trillion.
According to Stack Funds analyst Matthew Dibba, investors began to sell digital assets after the completion of negotiations in Congress between the House of Representatives finance committee and the crypto business. The companies urged the authorities to speed up the legalization of the industry and create a comfortable environment for startups.
However, no specific decisions were made following the hearings, which caused uncertainty in the camp of traders. Restrictive measures in the fight against the new strain of COVID-19 are also alarming investors and forcing them to go into the cash.
#chances #quick #dramatic #trend #change
