quora Digital currency market review on September 3

Digital currency market review on Tuesday

Digital currencies such as Bitcoin and Ethereum are just a few of the cryptocurrencies which are available on the market. However, these two cryptocurrencies are best-known as they have the most significant market capitalization. There are many reasons why it a smart idea to own digital currencies. One of them is that central banks are not controlling the digital currency market.

Cryptocurrency on Tuesday

One of the biggest challenges for people is the problems connected with privacy. The cryptocurrencies such as Bitcoin, Ethereum might be used to solve this problem.

Bitcoin’s price increased on Tuesday. Bitcoin’s price surpassed the $10,000 level, which is a key psychological level. It means that when the price is above that level this makes Bitcoin more attractive to the crypto investors.

Bitcoin struggled on Monday as its price was below $10,000. However, Bitcoin was able to break the resistance near this level. The price continued to increase after it crossed the $10,000 level.

On September 3, Bitcoin’s price was $10,301. Moreover, this digital currency had the potential to further strengthen its position on the market.

Ethereum is another digital currency which gained from this situation. Ethereum was also in difficult position on Monday. However, Ethereum’s price recovered above $172 and $175 resistance level. Yesterday, Ethereum’s price was $178. There was a chance that Ethereum could break the resistance near the $180 level.

Digital currencies and Bank Secrecy ActCrypto regulations

Crypto regulations are one of the most debated topics.  Lawmakers, experts, investors, and others have different ideas regarding the rules.

Washington D.C.-based advisory firm The Financial Integrity Network (FIN) has its plan. According to this idea, digital currencies might be regulated under the Bank Secrecy Act.

This FIN urged the U.S. Congress to use this act to regulate the digital currencies.

The price of Bitcoin and Ethereum increased on September 3. This was important news as Bitcoin and Ethreum suffered losses last week.

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