Bitcoin Inches Closer To $9,000 Despite Persisting Regulatory Crackdown

Investing.com – Bitcoin clawed its way back to close to $9,000 on Tuesday, while other cryptocurrencies traded mixed.

Bitcoin was trading at $8,561 by 11:58 pm ET on the Bitfinex exchange, up 0.8% over the previous 24 hours.

Ethereum, the world’s second largest cryptocurrency by market cap, was down 0.65% at $838.99 on the Bitfinex exchange.

Ripple’s XRP token, was also down 2.4% to $1.00527 on the Poloniex exchange.

Meanwhile, Litecoin was trading 1.28% higher at $156.60.

Bitcoin finished on a higher note last week, and the momentum continued on Tuesday. This is despite the persisting regulatory crackdown surrounding the crypto space. The New Jersey Bureau of Securities said last Friday that it banned Bitcoin-related investment Bitstrade to offer its products in New Jersey.

“We want to make sure that investors tempted to cash in on the cryptocurrency rage aren’t being lured into sending funds to an anonymous Internet entity without knowing where the funds are going or how they’ll be used,” said New Jersey Attorney General Gurbir Grewal in announcing the emergency order against Bitstrade…

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