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A short-term pullback was expected, but there is no clear idea yet whether there will be further decline or growth will continue. Experts believe that the sideways trend for the main cryptocurrency will continue by the end of August.
At the same time, China continues to put pressure on miners and crypto traders, tightening control over their activities.
To reduce the scale of cryptocurrency trading, the Chinese regulator wants to speed up the launch of the digital yuan. According to the central bank, this is a great alternative to bitcoin.
In South Korea, regulation of the cryptocurrency industry is also tightening, and small cryptocurrency exchanges have begun to close due to suspicions of illegal activity.
The situation in the cryptocurrency market is further complicated by the fact that other regulators are also putting pressure on major exchanges, including Binance. This situation will impede the growth of digital currencies.
In the context of the instability of cryptocurrencies, the right decision would be to invest in AI technologies of trading robots.
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