Global cybersecurity has lost a third since it hit the top spot in June.
The total value of virtual currency in the world is currently $ 80 billion, down from $ 100 billion last week and $ 115 billion on June 14, according to Coinmarketcap.com. Bitcoin, the most popular virtual currency, lost 20 percent from the $ 3,000 mark on June 12. Smaller rivals, such as ethereum or ripple, are even worse off.
"Whenever I look for surplus signs on the market, I watch Bitcoin, and to me, it's scary," said Richard Turnill, an investment strategist at BlackRock, in a speech on the prospect of virtual currency. yesterday.
Analysts are still debating whether virtual money is falling into the price bubble, as the market capitalization continues to soar this year. This raises suspicion from scholars, including technology billionaires such as Mark Cuban.
Meanwhile, supporters, such as CEO Ripple - Brad Garlinghouse feel not convinced. His company is the world's No. 3 virtual money transfer service, ripple. "I would be surprised if there is a big price drop," Garlinghouse said in an interview earlier this week. "If their prices continue to double or triple, I would not be surprised. ".
The downturn happened just in time when the former leader of Mt. Gox being heard. This is the massive Bitcoin trading floor closed in 2014 because it lost hundreds of millions of dollars in virtual currency. In yesterday's testimony, Mark Karpeles did not acknowledge the embezzlement charges and inflated the accounting data.
Virtual money buyers are no stranger to the momentum of the tool. They have lost a lot of money recently. Still, investors still want to stick with virtual currency, as chain and virtual property technology is expected to spread in the future.
You can easily infer that we are witnessing a bubble, looking at the uptrend this year, I understand the current price is quite frivolous, but we are still in the early stages of the formation. A whole new class of assets, "said Martin Garcia, Genesis Global Trading Director of Sales.