Bitcoin slips back in Asian trading

Yesterday morning Bitcoin took a sharp dive, falling from close to 57k, to just below 55,500. However, that was the extent of the downside for the day. It spent the rest of the session grinding its way higher again. Eventually, that led the price back up to as high as 57,870. Unfortunately, it has not been able to sustain that move and the whole Asian session so far today has been characterised by yet another drop backwards. The price has fallen back close to 56k so far today. The drop comes even as Indian authorities stop short of announcing an outright ban on cryptocurrencies today. It has been suggested they would make such a move, but instead the government there has said it will look to impose tight regulatory measures. However, Bitcoin has so far been unable to grasp any positivity from this news. It is currently trading around 56,370