FxPro Financial Services Ltd | Apr 22, 2021 07:55AM ET
There is optimism in the crypto market, despite more frequent corrective pullbacks after new highs. Are most people now having wishful thinking towards BTC? Bitcoin has lost 4% in the last 24 hours and is trading around $54K. For the week, it is down more than 14%. You could consider what is happening at the moment a consolidation, but after setting an all-time high of $65K, Bitcoin has continued to decline. This is not an impulsive panic decline but a consistent pressure on the value of the asset.
The final documents will work through all the controversial issues. Will a set of rules for cryptocurrencies become a benefit that will allow it to develop on the same scale that we have seen in recent months? It's unlikely. It is more likely that the sector's regulation will coincide with the launch of their own national digital currencies, which will be given full discretionary power to develop, suppressing unnecessary "competition". And now the big question is whether independent cryptocurrencies will be able to defeat the states, as crypto-enthusiasts hope they will.
The FxPro Analyst Team
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.