The several days cryptocurrencies markets show the markets going down very sharp. Almost 50-60% losses were booked during the past 2-3 days and markets are very dull right now. Bitcoin is sold at the level $7000 up, while Ethereum remains below $400, Litecoin at the level $119, Ripples also down at the level $0.49.
All these turbulences created due to the uncertainty on the legal aspects for the bitcoin and cryptocurrencies markets. Originating plan the crypto is non regulated by any laws but on later stages, we heard many countries and jurisdiction start to rule the cryptos as assets, properties or even financial assets.
Taxation also start to aim on all cryptocurrencies to be taxed as income. these confusions now create confusions as previously many believed cryptocurrencies can be bought anonymous but with the time changing, KYC and AML started to be applied soon.
It is very imperative to see the current developments on the cryptos as investors feel now uncertain on future progress of the cyrptos. These tensions will push the pricings of all cryptocurrencies down to the lowest level, while on the long terms, cryptos will be bright as many new alternative ways to trade the cryptos will increase the sales value significantly.