Investing.com - Bitcoin was modestly lower on Wednesday, as U.S. investors took a break to celebrate Independence Day.
Bitcoin was trading at $6,557.00, falling 0.65% the Bitfinex exchange, as of 8:41 AM ET (12:41 GMT).
Bitcoin is down nearly 70% from its peak of almost $20,000 in December and more digital coins are becoming worthless. Digital coins had fallen in recent weeks amid increased concern over security and regulatory concerns.
Cryptocurrencies overall were steady, with the coin market cap of total market capitalization slightly down at $269 billion at the time of writing compared to $270 billion on Tuesday.
Ethereum fell 0.72% to $468.88 on the Bitfinex exchange. Ripple, the third largest virtual currency, decreased 2.52% to $0.48467 while Litecoin was at $86.012, down 0.36%.
A report from the European Parliament advised regulators to not ignore cryptocurrencies or ban them, The 33-page report, published last week, urges regulators to treat digital coins like any other financial instrument and that regulations should be uniform across jurisdictions.
“Policy makers and regulators should not ignore VCs, nor should they attempt to ban them. Both extreme approaches are incorrect,” the report stated.
As digital coins have grown in popularity, regulators around the globe have struggled with how to regulate cryptocurrencies.
In other news, the amount of money stolen through exchanges surged in the first half of the year. According to the report from CipherTrace, $761 million was stolen so far in 2018, compared to $266 million stolen in 2017.