Overshadowed by the "Death Cross" Discussion, Bitcoin Survives at $ 7,500

Bitcoin and other virtual currencies fell again on Thursday in talks on "death cross" conditions that sparked investor selling.
Bitcoin was trading at $ 7,501.00, eroding 6.47% at 19:52 pm in exchange for Bitfinex, not far from a session low of $ 7,430.0.
Bitcoin's decline is driven by talk of what is called "death cross," which is a term used to describe a cross between the 50-day and 200-day long-term moving averages. Technical analysts often see this pattern as an early signal that will happen in the future.

Increased regulation and falling prices also contribute to investors selling action as interest in virtual coins diminishes. The amount of cryptocurrency market capitalization has fallen sharply below $ 300 billion, according to data from coinmarketcap.com
In other news, two Japanese cryptocurrency exchanges may be closed after failing to meet regulatory requirements. Tokyo Gateway and Mr Exchange will stop operating after failing to improve their security operations. Exchange in Japan must register to the state regulator, the Financial Services Authority. Currently 16 pre-existing exchanges are allowed to operate provided they apply for registration.
In China, the central bank is expected to crack down on all types of virtual currency this year. At the same time, the country expects to research and develop its own crypto coins, according to Reuters. Cryptocurrency exchanges, initial coin offerings, and access to other digital investments have been banned in the country.
Other virtual currencies also fell, with Ethereum's competitor, the world's second largest cryptocurrency by market capitalization, tumbling 10.94% to $ 407.00 on the Bitfinex exchange. Ripple, the third largest virtual currency, slumped 8.38% to $ 0.53110 while LiteCoin was at $ 120.40, tumbling 13.83%.