bitcoin collapsed

Bitcoin resumed the collapse after South Korea officially announced its intentions to deal with speculations of the crypto currency.

Authorities of the country will consider various measures up to the closure of crypto markets. With this backdrop, quotations of bitcoin rushed down losing almost 10%.

The government intends to seek verification of transactions via crypto-currencies, as well as to prohibit banks from offering virtual accounts for the exchange of crypto-currencies. In addition, the government of South Korea is ready to impose severe penalties for the use of crypto currency.

The authorities also noted that no one can guarantee the value of the crypto currency.

Note that at the end of the year, bitcoin and other digital coins faced a real information attack, which made bitcoin quotations collapse from $ 20 thousand to the current $ 14 thousand, although in the moment they dropped to the area of $ 11 thousand, that is, the main crypto currency lost almost half its value.

Some experts believe that bitcoin futures were launched just in order to take this market under control and blow off the “bubble”, which this year became almost the main newsmaker.

Many observers predict the collapse of the crypto currency, and speculation by themselves with these digital coins looks useless. In addition, market capitalization does not correspond to real money, which is invested in it, that is, quotes are simply dispersed. All this only confirms the existence of a “bubble”.

However, there are those who believe in crypto world and crypto-currencies and consider them an excellent alternative to the currencies that are controlled by the central banks of the world.


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This information should not be interpreted as an endorsement of cryptocurrencies or a recommendation to invest. Historic performance is no guarantee of future returns. As an investment class, cryptocurrencies are speculative investments and investing in cryptocurrencies involves significant risks – they are highly volatile, vulnerable to hacking and capital loss and sensitive to secondary activity. Before investing you should obtain advice and decide whether the potential return outweighs the risks.
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