Cryptocurrency prices settle down

Cryptocurrency prices and trades are down sharply from their peak periods as authorities worldwide roll out tougher regulations.

Virtual-currency website CoinMarketCap says the price of Bitcoin is hovering around 7,000 dollars per coin.
That’s one-third the peak level of a little over 20,000 dollars, reached in December.

The overall market capitalization for all virtual currencies combined has been less than 300 billion dollars.
That’s about a third of its peak level.

Officials around the world are tightening regulations to deal with a host of problems involving virtual currencies.

These include the alleged theft of a cryptocurrency from a Tokyo-based exchange, and the laundering of illegal profits.

An expert says the speculative fever has been cooling down since early this year and a bubble is unlikely to occur.

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