Altcoin Price Analysis: Altcoins Will Face Pressure From the Regulators

Nov 07, 2017 at 16:00 // News
Author
Lana Smiley
 Ethereum, Dash and Litecoin show a stable growth on November 7, 2017

While bitcoin’s popularity and high prices provide it with some kind of immunity against regulators, other altcoins may still remain vulnerable.

On November 7, 2017, several altcoins are facing price corrections following Bitcoin. However, top altcoins, like Ethereum and Litecoin, show a stable growth. Ethereum price by the time of publication is $302.14 while Litecoin holds on at the level of $56.00. The price of Dash is also rising. Dash price grew by at least 10% over the last 24 hours - from the level of $274 to $301.35 

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Pressure from the regulators 

According to Alexis Roussel, a co-founder of Bity, a cryptocurrency broker in Switzerland, trading with bitcoins and ethers, and managing a network of Bitcoin ATMs, “altcoins, especially tokens (or any non-utility token) will face pressure from the regulators.” 

He stated: 

“We will see delisting of tokens, and qualification of some of them as securities. The whole token market will suffer of regulatory pressure and lawsuits like the tezos one. Enough fresh investments coming in the market from traditional financial sector that has little visibility in the market and that has a tendency to throw money to anything that is “blockchained” or “ICOed” could offset this downward pressure on Alts.”