Cryptocurrencies lose supporters (11.10.2018)

This week the cryptocurrency market fell under pressure, reversing the continuous upward trend. On Wednesday bitcoin plunged by over 300 points
and today it is consolidating near the level of $6,166 per coin. The news about Tiberius Technology Ventures
put the cryptocurrency market under pressure. The Swiss ventures company decided to stop
selling its own cryptocurrency. Along with that, the company’s management pledged to pay its investors 1 million dollars compensation. Besides, this news weighted down the second
biggest cryptocurrency – etherium. Furthermore, the recent reports about hacker
attacks on blockchain platforms also have adverse effect on the cryptocurrency market. Experts say that the investor confidence decreases,
so the digital money is depreciating. Ether lost about 10%, approaching the level
of 200 dollars per coin. Nevertheless, some countries do not hurry
to abandon cryptocurrencies despite high volatility. Thus, the United Arab Emirates announced plans
to allow companies to raise funds through ICOs starting next year.

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