Bitcoin (available on Coinbase)’s bull run failed to break the resistance level of $12000; BTC fumbled for the second straight day and wiped almost $1800 off in the last two days alone – investors are now looking for the new support level. It seems more bearish comments may have a part to play in the current selloff – Bitcoin (available on Coinbase) found the bottom around $6000 after shedding more than 70% of its value.

Though South Korea has announced its support of cryptocurrencies, pessimistic comments from England and the arrest of BitFunder founder Jon Montroll in the United States raised traders concerns. Is this affecting Bitcoin (available on Coinbase) price?

Bitcoin (available on Coinbase) trades just over the $10,000 mark today, while Ripple (available on Binance) and others are declining at a quick rate.

Source Image: coinmarketcap.com

US Government Arrests Bitcoin (available on Coinbase) Stock Exchange Founder

U.S. regulators had announced their support of legal cryptocurrency trading when they met with the U.S. Senate banking committee early this month. However, the regulators had proclaimed that they will not let illegal activates through cryptocurrency trading.

The U.S. regulators were found steadfast in their claims. The U.S. Securities and Exchange Commission (SEC) and the Federal Bureau of Investigation (FBI) arrested Jon Montroll, who is the owner of Bitcoin (available on Coinbase)-denominated stock exchange, BitFunder.