Cryptocurrencies on Monday
Global economic problems such as trade war between the U.S. and China is a huge problem. It is essential to mention that this issue affects not only those two countries but the global economy in general. In this situation investing in cryptocurrencies such as Bitcoin, Ethereum, and Litecoin is a good idea.
During the last week, the price per Bitcoin reached more than $12,000. This was a remarkable achievement for this cryptocurrency as it strengthened the position of Bitcoin. People around the world are willing to learn more about this cryptocurrency. Users on Reddit are looking for additional information regarding the number one cryptocurrency in the world. It is worth mentioning that according to Alexa Internet Reddit is number 5 on the list of most visited websites in the U.S. Moreover, this website is trendy around the world. It is not surprising Reddit cryptocurrency inquiries are on the rise.
The price of cryptocurrencies
As mentioned above, the crypto currency market attracts potential investors from all over the world. The price of Bitcoin surpassed $12,000 in the last week. However, price per Bitcoin fell to less $12,000 on Monday. At the moment, Bitcoin’s price is $11,306.
The price of Ethereum also fell on Monday. Right now, Ethereum’s price is $213. The price of Ethereum declined from below $220, first to $215 and then to $210. However, at the moment price increased to $213, which is still lower than several days ago.
Litecoin followed the footsteps of other major cryptocurrencies as its price also dropped on Monday. Litecoin’s price is $86.50.
FATF standards and digital currencies
Crypto investing is on the rise. Governments around the world start to realize that this emerging market might increase the threat of money laundering or other illegal activities. Government officials are working hard to create regulations to tackle these problems. Financial Action Task Force (FATF) created global standards on how to deal with cryptocurrencies.
The purpose of this document is to help governmental organizations to regulate the crypto currency market. FARF published this guidance in June. Countries are adopting new regulations to comply with FATF standards.
These new regulations will make it easier to detect criminal activities. Moreover, this will also make it easier for investors to safeguard their crypto assets.
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