Bitcoin Price Analysis – Regulators warm to cryptocurrencies

Bitcoin (BTC) has continued to unwind and is now down almost 70% from the record high on December 17th. Cryptocurrencies as an asset class have followed suit. The combined market capitalization has dropped from highs over US$800 billion in December to just under US$400 billion. The BTC market cap currently stands at US$128 billion, down from US$324 billion on December 17th, with US$10 billion traded in the past 24 hours.

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