Exactly one month ago, the cryptocurrency king Bitcoin reached the value of 20,000 dollars per unit. In contrast, Yesterday hardly manages to keep the price of 10,000 per unit, leaving behind loss of more than 105 million dollars.
Simultaneously the two main cryptocurrencies (Ethereum and Ripple) had a dizzying fall taking with them the other cryptocurrencies in a kind of "black Tuesday." as a result, leaving losses of more than 90 billion dollars in a financial universe where more than 1500 cryptocurrencies operate.
This is not the first time these things happened. Over the time there have always been ups and downs in the markets but this time there is a lot of concern in the real world.
Let's be honest, governments don't like Bitcoin or cryptocurrency in general, under the argument of being too unpredictable, uncontrollable and a potential tool of fraud and tax evasion.
There are plans for global and joint regulation but in Asia things are more complicated...
To these problems it is necessary to add the limitations of Bitcoin in terms of technology.
Bitcoin was originally designed as a social experiment and its objective was to avoid dependence on central banks.
Unfortunately Bitcoin works very slowly and has a reputation like a speculative bubble, being obsolete as a currency but its value as an apparent speculative object keeps it afloat.
Anyway, everyday more cryptocurrencies are born and all are worth what Bitcoin was worth 9 years ago, so those who really determine the price are the same people who give the value that people want.
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