Cryptocurrencies on Thursday

The price of major cryptocurrencies, such as Bitcoin, continues to decrease due to several reasons. The price of Bitcoin fell to less than $10,000. In the last three days, Bitcoin’s price dropped by more than 16%. It is worth mentioning that when price of Bitcoin falls below $10,000, this is a severe issue. Many investors consider this price as a psychological level, and anything below that price makes them uncomfortable.

In the last several hours, the price of Bitcoin decreased to $9,600. At the moment price per Bitcoin is $9.871. On Wednesday price declined from $10.590 to $10,120 in several hours. Another interesting information is that yesterday price fell from $10,856 to $10,025. Based on the BTC/USD daily confluence detector, the chance that the price of Bitcoin will surpass the $10,000 level is quite low.

Bitcoin is not the only digital currency which struggles due to market instability. For example, the price of Ethereum, Ripple’s XRP, and Litecoin also decreased during the last days. All of them combined lost $20 billion from the total value, and this happened in one day.

According to several analysts, the reason is that yuan recovered after its exchange rate fell against the U.S. dollar. However, there are other problems, as well. For instance, China’s industrial output in July fell to the lowest level in 17 years. Another issue is that the U.K. might leave the European Union without a deal. All of the reasons affected Bitcoin’s price.

Nevada changed the requirements for Crypto ATM operators

State of Nevada changed the rules for the Crypto ATM operators. According to the regulations, companies should obtain a money transmission license.  It means that any transfer of credit, virtual currency, and other operations should meet new requirements.

Companies will have to apply for the license. There are several preconditions which companies should satisfy before they receive this license. State regulator Julie Hanivold said to learn more about this decision companies can use the state’s website. She also mentioned that they do not plan to prepare a press release regarding this issue.

Even though Bitcoin’s price dropped on Thursday, investors think that the price of Bitcoin will increase in the nearest future.