The most popular cryptocurrencies are falling in price on Wednesday, and, according to the cryptocurrency trading platform StormGain, the rate of decline for some instruments exceeds 2%.
Such dynamics are observed against a background of conflicting news flow. In particular, Facebook renamed the wallet for the Libra cryptocurrency and created a new structure for its development. Meanwhile, in China, there is a lawsuit against the major cryptocurrency pyramid - WoToken, which tricked investors into $1 billion. At the same time, it became known that the national cryptocurrency of China will be released ahead of schedule. It will help the country's authorities to deal with possible US sanctions and restore the economy after the coronavirus epidemic.
With conflicting news coming to the market, the most popular cryptocurrencies may continue their downward movement. In this case, Bitcoin can go down to $8700, Bitcoin Cash - to $220, Ethereum - to $200, XRP - to $0.19, and Litecoin - to $40.