BTC price plunges over DOJ’s announcement against the Crypto sector
The United States authorities announced that they announce something against the unfair independence of the Crypto entities.
At the time of writing this article, the price of Bitcoin (BTC) is $20,818 and this price is 2.29% down over the last 24 hours’ trade price. While this price is still 23.9% high over the last 30 days trade price.
A sudden price-down action can be seen in the attached BTC price graph and that happened because of the latest announcement from the US DOJ.
According to reports, U.S. authorities plan to announce an enforcement action against an international crypto entity at noon ET on the same day (Thursday). As per the plan, officials from the FBI, the Office of Foreign Asset Control (OFAC), the Financial Crimes Enforcement Network (FinCEN), and the Eastern District of New York planned to take the stage with Deputy Attorney General Lisa Monaco.
Indeed the whole thing was about better communication between all these US government agencies so that they can report & collect information about the Crypto financial activities, to prohibit the illegal activities associated with cryptocurrencies.
These things showed that Bitcoin is still under a very big fear phase, where we can’t say the BTC market is mature enough but surely Bitcoin will cross this phase to a better level, where such types of news will not impact it significantly.
Yesterday, Crypto market cap volume overtook the JPMorgan company with a $1 trillion cap. In the future, Crypto will secure a position on the top of the stock market with a multi-trillion dollar market cap, as per analysts.
Read also: Bank of America says CBDCs could “revolutionise the global financial system”
