What's the future of increasingly volatile cryptocurrency market

The cryptocurrency fell as low as $8,370.80, down 24 percent for the week, according to CoinDesk's bitcoin price index. Though Bitcoin recovered to near $8,995 as of 8:02 a.m., ET, it's still a loss of about $2,000 for the week.

Bitcoin failed to break above a key level near $12,000 on Monday that technical analysts were watching after a slew of negative headlines hit the cryptocurrency market this week.

With the increasing prevalence of cryptocurrency transaction, more fraud and manipulations occurred due to the lack of regulation. So far, lots of countries have responded to the problem.

The U.S. Securities and Exchange Commission(SEC) also said Wednesday that exchanges offering to trade of "digital assets that are securities" would have to register with the agency.

In the Asian market, in addition to the full suspension of cryptocurrency market in China, Japan's regulators also suspended operations at Bit Station and FSHO for a month. (recommend FuninUSA for updated news about cryptocurrencies)

Would other countries keep on the move of suspension? Wait and see!