UK Retail traders face Cryptocurrency challenge

Yesterday Bitcoin fell to as low as 17,644. That low came early in the European session, not long after the wider market opening. The price did recover as the day unfolded. That saw it rise back to as high as 18,525 just ahead of the 4pm London FX fix. It then made further progress into the US close, lifting above 18,600, to as high as 18,643. Today the price has edged lower during the Asian session. The reason for the move lower yesterday could have something to do with important news that later unfolded in the UK. That is because from January 6 2021 the UK FCA has banned the trading of all generic cryptocurrencies for UK retail traders. That will not stop people from buying and selling cryptocurrencies with cash into wallets, but it will mean all CFD and spread betting of those coins will not be permitted for non professionally classed clients. That news could explain the quite significant moves lower in a number of alt coins too yesterday. There is a lot more to say about this subject later today. Meantime, Bitcoin is currently trading at 18,385