Cryptocurrency market lost $50 billion of capitalization in 72 hours

On Wednesday, capitalization of the cryptocurrency market lost about 50 billion dollars within 72 hours and amounted to 326 billion dollars. On Thursday, the downward trend continued. The bitcoin rate at 11:45 Moscow time on Thursday fell to a multi-week low of 7 thousand 361 dollars, the data of the Kraken exchange showed. On Wednesday, ethereum dropped by 10%, lightcoin - by 8.2%. Analyst at Fundstart Global Advisors, Tom Lee, explains the fall in the market by the fact that institutional investors are waiting for clarification of the regulatory environment and are in no hurry to increase their positions in the cryptocurrency. In this case, analyst at Cracked.Market, Jani Zidins, expects a further decline in the bitcoin rate.


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