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CryptoWatch: Fears of regulation keeps bitcoin under pressure

Digital currencies continue to move lower, with all major coins trading in the red early Tuesday.

Bitcoin, the worlds largest digital currency, continues to struggle for gains above $8,500, as worries over increased regulation kept a the No. 1 digital currency in check.

“The recent selloff has come from the news out of China that the ICO [initial coin offering] market is still very active and there are fears that China will further increase the strict regulation,” said Naeem Aslam, chief market analyst at Think Markets.

A single bitcoin BTCUSD, -2.26% last changed hands at $8,225.74, down 2.2%, since Monday’s levels at 5 p.m.

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