Cryptocurrency markets are slumping today as most digital asset markets are seeing losses between 8-20 percent over the past 24-hours. Lots of speculators are attributing the dump to the recent measures taken by Japan’s Financial Services Agency (FSA), asking cryptocurrency exchanges like Bitflyer to make improvements to the Japanese trading platforms’ anti-money laundering practices.
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The Crypto-Bears Are Back
Just a few days ago digital currency market prices were reversing northbound after the extremely bearish first two weeks of June. Now markets are once again being attacked by bears, and most of the top cryptocurrencies are seeing deep losses over the past day. Bitcoin Core (BTC) values have tumbled 8.5 percent over the last 24-hours and the currency is down 6.3 percent over the last week. Bitcoin Cash (BCH) markets are also down 12.5 percent during the past day, and over the last seven days BCH is down 11.7 percent. The decline in prices started after Japan’s FSA began telling exchanges they need to upgrade their systems and anti-money laundering procedures. We don’t really know whether or not this announcement is the true reason behind the dump, but traders and speculators have tethered the two together.
Bitcoin Cash Market Action
Bitcoin Cash market prices are hovering around $759 USD per BCH at the time of publication. BCH is the fifth most traded cryptocurrency today as far as volume is concerned as the market has traded roughly $496Mn over the past day. At the moment the BCH market capitalization is 13.2Bn. The top exchanges swapping the most BCH today are Okex, Bitfinex, Huobi, Hitbtc, and EXX. The top currency traded with bitcoin cash today is BTC holding an
