Related: Bitcoin Wakes Up, Reaches Two-Week High Near $7K
Some new developments in the cryptocurrency universe have challenged bitcoin and other digital assets this year.
“The global cryptocurrency industry has seen a flurry of new developments since December. Many of these developments had a negative impact on the growth prospects of cryptocurrencies, such as restrictions by banks on the use of credit cards to buy cryptocurrencies, and calls by financial regulators across the world for caution while investing in digital currencies (with some countries even banning their use). This sent cryptocurrencies sliding in value from the all-time highs seen in mid-December 2017, as demonstrated by the slump in Bitcoin’s price from almost $20,000 then to below $6,000 in early February,” according to Forbes.
For more information on the cryptocurrency market, visit the Bitcoin category.