4/9/2018, 5:10 PM (Source: TeleTrader)
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Bitcoin falls on regulatory pressure, US tax deadline

Bitcoin tumbled on Monday as the April 17 tax filing deadline in the United States is coming near, which may have intensified sales pressure, where holders need dollars to meet liabilities.

The most intensively traded cryptocurrency has also run into more regulatory roadblocks. A week ago Sohrab Sharma and Robert Farkas, co-founders of Centra Tech Inc., were last week charged by the US Securities and Exchange Commission for an alleged fraud in an initial coin offering, or ICO. Also of note, India's central monetary authorities have forbidden regulated financial institutions from operations with entities or persons which work with digital currencies.

Bitcoin fell 4.21% to $4,728.4 at 5:07 pm CET, compared to the session low of $6,671.1. The spot price has held above $6,400 since February 6. The exchange rate against the euro dropped 4.49% to 5,475.56. On the flipside, April futures at CME Globex were 2.2% higher at $6,720. Offshoot cryptocurrency Bitcoin Cash was 2.76% lower at $635.

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