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Bitcoin Steadies, Shrugs Off IMF's Lagarde Calls For Regulatory Crackdown

Cryptocurrency NewsMar 13, 2018 05:41PM ET
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Investing.com – Bitcoin steadied on Monday shrugging off IMF chief Christine Lagarde calls for a crackdown on the popular digital currency.

Writing in an IMF blogpost, Lagarde said the blockchain technology powering cryptocurrencies could be used to help regulate them. “We can harness the potential of crypto-assets while ensuring that they never become a haven for illegal activity or a source of financial vulnerability.”

“It would not be wise to dismiss crypto-assets; we must welcome their potential but also recognise their risks,” Lagarde added.

On the bitfinex exchange, Bitcoin rose 1.20% to $9,070 as the popular digital currency remained in a period of consolidation after recent attempts to mount a sustained rally have come unstuck.

Sentiment in the wider cryptomarket continued to be largely driven by swings in bitcoin, which since the turn week has favoured the downside amid falling crypto-demand.

The total cryptomarket cap inched to about $370 billion – at the time of writing – up from $364 billion Monday. That, however, hardly signals a reversal as the current cryptomarket cap is not far off levels last seen when bitcoin fell to $6,000.

Ripple XRP fell 0.05% to $0.76959 on the poloniex exchange, while Ethereum fell 1.26% to $682.99.

Bitcoin Steadies, Shrugs Off IMF's Lagarde Calls For Regulatory Crackdown
 

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