Bitcoin, coinbase temporarily breaks $ 28,000 | coindesk JAPAN | Coindesk Japan

Bitcoin (BTC) fell below $28,000 at one point on the 20th and fell for the second day in a row.

According to CoinDesk data, bitcoin fell 2.7% in 24 hours near $28,325 at the time of this writing. The BTC/USD pair on cryptocurrency exchange Coinbase fell to $27,991 just before the US stock market closed, according to TradingView data.

TradingView

Oanda Senior Market Analyst Edward Moya said Bitcoin’s decline came after Coinbase CEO Brian Armstrong said the company might leave the US. He pointed out that:

“Coinbase was able to get a license to operate in Bermuda, which seems to be part of its global expansion.” ) will probably disappear due to a lack of confidence in trading, and the global cryptocurrency market will shrink significantly.”

“Bitcoin will struggle around its current price until regulation is clarified, which means the price is poised to fall,” he continued.

Ethereum (ETH) fell about 1% to near $1,948. It fell to $1,917 at one point.

BTC and ETH are down 7% and 3%, respectively, over the course of the week.

Most other major crypto assets also fell, with XRP (XRP) and Litecoin (LTC) dropping more than 5%. The CoinDesk Market Index (CMI), which measures the performance of the entire crypto market, fell 3.9%.

｜Translation: coindesk JAPAN
｜Editing: Takayuki Masuda
｜Image: TradingView
｜Original: Bitcoin Tumbles Below $28K on Coinbase