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Bitcoin price grows after falling below $ 5800


On Monday, the bitcoin price rises after a decline to $ 5,787 on Sunday, when the bitcoin price reached its lowest level in 2018 after the regulator of Japan demanded that local crypto exchanges improve their methods of operation.
By 05:30 UTC on the Bitfinex exchange, bitcoin was trading at $ 6169.9, having risen 4.1% over the past day.
The second largest by capitalization – Ethereum cryptocurrency on the Bitfinex exchange went up by 0.6% to $ 450.6.
At the Poloinex exchange, the Ripple exchange price increased by 2.5% to $ 0.47575.
The price of Litecoin increased by 3.7% to $ 79.96.
On Sunday, the bitcoin price dropped to $ 5787. Compared with the historical high of mid-December on Sunday, the bitcoin price fell by more than 70%.
The current decline in prices is due to the fact that the Financial Services Agency of Japan (FSA) has issued six crypto exchange regulations for improving their working methods.
The exchanges are required to respond to the FSA order by July 23.
“The volume of trading on the market remains low and it is still necessary to overcome the current trend to decline when there is a significant probability of sales. Although the market reacted negatively to the FSA regulations, in general for the cryptocurrency industry this can be considered positive, “the senior trader at Octagon Financial, Ryan Rabaglia, wrote by e-mail.
According to reports, FSA issued instructions to the following exchanges: Bitflyer, QUOINE, Bitbank, BTCBOX, BITPoint Japan and Tech Bureau.
Last Wednesday, bitcoin fell in price by $ 200 after a report about hacking by the South Korean crypto exchange Bithumb. On Wednesday morning, the stock exchange reported that 35 million won ($ 31.5 million) of digital assets were stolen as a result of the attack by hackers.

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