"Hmmm, new investors want to be happy, but crypto falls back."
International cryptocurrency enforcement efforts implemented by the Department of Justice (DOJ) of the United States (US) caused the price movement of Bitcoin (BTC) including other digital assets to undergo a price correction.
If observed, the market capitalization of BTC slipped by $1,000 and Ethereum (ETH) plunged to the level of $1,523 while Dogecoin (DOGE), Ripple (XRP), and Cardano (ADA) also witnessed significant declines.
The overall value of digital assets has reportedly fallen after the US government took legal action against a Russian crypto exchange company known as Bitzlato.
In general, most investors do expect US and global regulators to strictly regulate centralized exchangers and companies that offer crypto services as a follow-up to prevent any fraud.
While negative forecasts by banks during the World Economic Forum (WEF) in Davos and the actions of large companies that often lay off their employees are also the reason for the price of crypto to decrease.
As proof, the ETH development company, ConsenSys intends to reduce 11% of its staff worldwide while Coinbase, Amazon and Microsoft have also previously laid off many of their workers.
For the record, the total value of crypto in the market so far is $975.95 billion with a decrease of almost 3% in the last 24 hours.
As of this writing, the price of BTC is down slightly hovering at $20,711 compared to last week gaining around 21.07%.
