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Dec. 17, 2021

On Friday, bitcoin (EXANTE: Bitcoin) is falling down after the cryptocurrency failed to stay above the $50,000 mark. As of press time, the largest cryptocurrency by market capitalization is trading at $48,928.1, according to EXANTE.

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Bitcoin Slides Below $47,000

Chart of the USD/BTC trading pair from EXANTE

For its part, ether (ETH) is also losing 4.54% and is trading at $3,859.06, with binance coin (BNB) sliding by 2.36% and is trading now at $521.53.

FxPro's team of analysts says bitcoin continues to move around the 200-day moving average, reflecting either indecision or a balance of power between buyers and sellers. At the same time, this line itself turned downward, and the RSI index on the daily charts remains close to the oversold area.

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According to Nomics' ranking, all 10 cryptocurrencies on top by market capitalization are in red. The whole cryptocurrency market capitalization is down by 3.03% to $2.28 trillion. Earlier, iHodl reported that Russia might not only follow China in its battle against the cryptocurrency market but even go ahead of Beijing with an outright ban on holding cryptocurrencies, according to Anatoly Aksakov, the chairman of the Russian State Duma Committee. As per iHodl Russia, the authorities are now discussing two approaches on how to regulate the cryptocurrency market: from a complete ban to legalization of cryptocurrency exchanges.

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