Bitcoin Fall; Russian Central Bank Says Crypto Excitement is Beginning to Cool

Investing.com – Bitcoin and other major cryptocurrency prices fell on Friday as Elvira Nabiullina, the head of the Central Bank of the Russian Federation, said markets’ excitement toward virtual coins have begun to fade.

Bitcoin dropped 1.8% to $6,584.9 by 11:09 PM ET (03:09 GMT) on the Bitifinex exchange, after receiving some support earlier this week with the launch of Fidelity Asset Services, a crypto trading platform for Bitcoin and Ethereum.

Ethereum fell 3.4% to $206.4 and Litecoin declined 3.2 at $53.438. XRP slid 4.4% to $0.46723 on the Poloniex exchange.

Speaking at the FINOPOLIS innovative financial technology forum, Nabiullina hinted that investors are now less enthusiastic about cryptocurrencies after witnessing the failure of a majority of blockchain projects and their ICOs.

“We are holding the FINOPOLIS forum for the fourth time. Earlier, this event used to witness a cryptocurrency fever everywhere. But now, it is visibly beginning to disappear,” said Nabiullina. “Back in old times, technologies like blockchain caused a great deal of enthusiasm, but, in our opinion, now a more sober attitude towards such technologies has begun.”

Nabiullina then added that she believed the ICO model is an efficient way to raise funds, although the first major waves of ICOs included many frauds.

In other news, Zebpay, India’s Largest Cryptocurrency Exchange, has confirmed it is moving To Malta.

The crypto exchange was reportedly forced to leave its home town after the Reserve Bank of India issued strict directions to banks to stop doing business with crypto-firms earlier this year. Zebpay stopped its rupee deposits and withdrawals services and eventually closed its entire exchange in India.

Zebpay said on its website that its new exchange will provide services to residents of 20 European countries, including Malta.

Like this: Like Loading...