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Bitcoin was trading down 2.29% on Wednesday morning.
The price was around $ 42,200 per coin, while Ethereum fell below $ 3,000 per coin, trading at $ 2,911 (-4.91%) and Dogecoin was trading at 20.9 cents (-0.52%) per coin, respectively, according to Coindesk.
As of September 18, bitcoin was trading above $ 48,000 before starting its current slowdown.
FIDELITY LOBBIES SEC FOR BITCOIN ETF
Meanwhile, Securities and Exchange Commission Chairman Gary Gensler said on Tuesday that he did not see much long-term viability for cryptocurrencies, stressing the importance of protecting investors in the market and subject it to regulatory oversight, the Wall Street Journal reported on Tuesday.
Gensler compared the thousands of cryptocurrencies in existence to the so-called savage banking era that took hold in the United States from 1837 to 1863 in the absence of federal banking regulations. Before President Abraham Lincoln established the Office of the Comptroller of the Currency, banks issued their own currencies, which they sometimes refused to redeem for their purported value in gold or silver.
Bitcoin was trading down 2.29% on Wednesday morning. (istock / iStock)
“I don’t think there is long-term viability for five or six thousand forms of private money,” Gensler said at a virtual event hosted by the Washington Post. “In the meantime, I think it’s worth having an investor protection regime around this.”
In other cryptocurrency news, in a tweet to his Twitter followers, AMC CEO Adam Aron asked his followers for advice, asking, “I sincerely want to hear from you, through this Twitter poll. . By the end of 2021, AMC will take Bitcoin, Etherum, Litecoin and Bitcoin Cash for online payments. I have heard from many people on my Twitter thread that we should also accept Dogecoin. ‘AMC should consider accepting Dogecoin? “
Dogecoin has gained worldwide attention as investors including Elon Musk and Mark Cuban have spoken about it.
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Its market cap of $ 27.5 billion eclipses Bitcoin’s $ 792 billion and Dogecoin has lost more than 4.295% so far this year, compared to a 45% lead for the largest crypto.
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