Three apocalyptic scenes for bitcoin

Three of them are already manifesting.

Three apocalyptic scenes for bitcoin
Jaap Arriens / Reuters
Follow us on Facebook

The bitcoin rolls downhill a few weeks after having recorded profits never before seen: with a current price close to $ 9,000, the digital currency has lost more than half of that value of almost $ 20,000 reached in mid-December.

Its freefall has occurred after India commented on the illegality of cryptocurrency in the country, a move that several states around the world could repeat. This and other scenarios may end up with the market's leading cryptocurrency.

Regulators on the hunt
At midweek, a single statement by the Indian finance minister cut the bitcoin market value by about 25 percent, which fell by about $ 3,000 between Thursday and Friday.

If also China, Russia and the USA they announce a total prohibition of the bitcoin, it is possible that it does not die, but without a doubt it will lose its shine, because the interest of the investors will probably diminish if the cryptocurrency is criminalized, and the main holders will flee.

Illustrative image
New hit for the bitcoin: How Facebook shook the cryptocurrency market
Collapse of exchanges
When Mt. Gox collapsed in 2014, some 650,000 bitcoins were lost in mysterious circumstances. That was considered the biggest 'hack' in the history of crypto currencies until last week, were stolen 500 million dollars in NEM cryptocurrencies.

Concerns about such security flaws can result in a total loss of confidence in the bitcoin, which could result in an exodus to fiat money and commodities.

The bitcoin becomes obsolete
The fact is that several have decided to separate from the bitcoin community and create their own cryptocurrencies -like the bitcoin cash- because the original bitcoin protocol is deficient. A simple transaction can take an unforeseen amount of time (sometimes hours) and have an average cost of between 10 and 140 dollars.

"The people who make the expeditions receive the arrows, and the settlers keep the wealth, so if bitcoin makes expeditions, people come after," Blair Sheppard, leader of Global Strategy at PwC, told RT.