On Tuesday, July 16, Bitcoin again fell by 8%, and this happened after US lawmakers were addicted to questioning a Facebook representative about plans to create a Libra cryptocurrency project, because after the announcement of this project in June, political and regulatory clouds over cryptocurrencies thickened.
Bitcoin fell after David Marcus, head of FB, who oversees the Libra project, answered questions from the Senate Banking Committee. Earlier, on July 16, Bitcoin has already lost about 3%.
During the testimony of Marcus, one US senator said that Facebook "carries illusions", believing that people will trust him with their money, while Washington will support the Libra project, which is scheduled to launch in 2020.
Weakening bitcoin also provoked a decline in the cost of almost all other leading cryptocurrencies. The second most expensive digital currency broadcast (ETH) on Wednesday, July 17, fell below the psychological mark of $200. Cryptocurrency capitalization fell to $21.572 billion, and the daily trading volume of the coin is slightly over $10.2 billion.
Currently, "bears" dominate the cryptocurrency market, which can provoke a further reduction in the cost of Ethereum.
Some analysts believe that if ETH tests the $190 mark in the coming hours or drops below, then an aggressive sale of the asset will begin, resulting in its fall to $170.
$190 mark will become a kind of resistance level for the cryptocurrency. If it does not hold above this indicator, then a sharp drop is inevitable. But if the fundamental value is kept above $190, the potential for a partial return of positions lost on Wednesday night remains.
