Bitcoin rebounds from Russian news induced sell off

Not long ago Bitcoin came under fresh selling pressure. The price dropped below 49k, but it had been struggling all morning to make any headway before it tumbled down to as low as 48,387 a few moments ago. The move lower was seemingly sparked by some headlines stemming from Russia, where it is said the authorities there are to examine closely all, or any crypto related transaction between individuals. Quite how they are going to manage that is unclear and besides this news has not been confirmed either. Notwithstanding that, the price is now rebounding, with equal earnest as it reverses that earlier drop. Bitcoin is currently trading at 49,155