Bitcoin drops below $10,000 mark

The price of digital currency continues its crash - the Bitcoin value has practically halved within a month. Investors face billions in losses.

Black Week for the Bitcoin Community: After the cryptocurrency lost up to 25 percent on Tuesday, the crash continues. On Wednesday, the price lost more than 15 percent and broke through the $10,000 mark. The value was last at just under $9700. By comparison, a month ago, the price had been around $20,000.

Many other cryptocurrencies have also lost significant value, including the increasingly popular Bitcoin alternatives Ether and Ripple. The crash is likely to hit especially investors who have invested in Bitcoin only in recent months - under the impact of steadily rising prices. You are threatened with billions in losses. Thus, the market capitalization of Bitcoin has almost halved within four weeks from about 320 billion to last about 170 billion dollars.

One reason for the price collapse are fears that the still largely uncontrolled trading in cryptocurrencies could be regulated. Recently, such government projects have become known in the Bitcoin stronghold South Korea. China has already taken action against digital currencies and is apparently considering further tightening up the process. There are speculations about a ban on online services and smartphone apps, which can be used to access foreign trading platforms.

In addition, there are fears that other countries could copy the Asians right away. At the beginning of 2017 a Bitcoin was still available for $1,000. Until mid-December, the currency then reached values of up to $20,000 after rapid growth. Faced with soaring prices, financial leaders are skeptical about cryptocurrency trading.

Source: dpa

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You're so nice for commenting on this post. For that, I gave you a vote!

Great if we can have all of these bubbles 'pop' in January, than Steem can grow stably for the rest of the year. Without needing to worry about bitcoins troubles.

This post very nice,,i like your cryptocurrency news..thanks for sharing this post,,best of luck.

good article, i think these dips might be around one week and then everything back to normal , from my analysis we may see dips too 9250$ and then turn back, otherwise nex resistance at 8200$ and 7800$.