Yesterday, cryptocurrency markets were blood red, and many speculators said that the recent news from China impacted the price of Bitcoin. Chinese authorities have taken issue with the recent ICO regulations and also have told some cryptocurrency trading platforms in the region to cease operations. However, OKCoin and Huobi said they have not received notice from regulators and are operating normally.
The price of bitcoin has already dropped significantly on the 13th of September as uncertainty about the news from China swept the web. Following Bitcoin's drop in value, nearly every other cryptocurrency is in the red with losses averaging between 10 and 30 percent.
Currently sitting at $3,135.26, the BTC price has dropped below the 3200$ line, with over $1.33 B worth of Bitcoin exchanged in the past 24 hours on the BTC USD pair, which has a 35.60% share of daily volume, second to JPY at 43.40%.
Cryptocurrency markets, in general, are feeling the wrath of China’s impending regulatory storm. Nearly every single altcoin has seen a deep correction so far as the total cryptocurrency market cap has reached a low of $110B. Popular altcoins such as Ethereum, Litecoin, DASH, and many others are seeing the biggest losses in months. Bitcoin Cash has also dropped to a low of $386 per BCH.
Source: https://www.cryptocompare.com/email-updates/daily/2017/september/15/
