Bitcoin price falls over $100 billion wiped off cryptocurrency market

This dip over the past months was partly due to the crash in the prices of the commodity and lack of regulation. Many countries including India have joined China demonstrating the hesitance towards use of Cryptocurrency, while South Korea aimed at regulating Bitcoin and similar currencies such as Ripple and Ethereal. It bitcoin price falls over $100 billion wiped off cryptocurrency market expected that there will be more of such protectionist regulation which will strain Bitcoin price that may even drop further.

In addition, concerns that bitcoin price was manipulated on a major exchange called Bitfinex have sparked the downswing. Other digital currencies including Ethereum and Ripple witnessed the price fall as well. The recent hype is further masked by Facebook announcing its intent to ban ads on its site. Then, Cyder was launched as a sandbox for cryptocurrency developers whereas RussiaCoin is on a similar line of popular Litecoin and Doecoin currencies.

There are various other currencies like The Swap Token coin and this one has been associated with programs with some interesting names like Ponzi and Troll payment. Ignis was also launched and its initial price turned to be a bit steep but on the other bitcoin price falls over $100 billion wiped off cryptocurrency market its twin currency, the Ardor coin, soared in December Thus, the investors betting on cryptocurrency can make huge returns when the pendulum swings to a high level, which does not seem to hold good at the moment.

The key thing to note is that Blockchain is the infrastructure that virtual coins are built on and it is responsible for recording all the transactions digitally. Now from this New Year, cryptocurrencies seem to undergo some stabilization. Lately, we could see that Bitcoin came very close to losing half of its value as seen for Ethereum.

Ripple also lost three-quarters of its value from peak to trough. Litecoin also saw a significant loss. On the other hand, it is expected that incryptocurrencies like bitcoin might be utilized for international trade on a moderate basis. In effect, all the big G7 central banks are said to take the help of external fund managers to invest in cryptocurrencies.

But still investors are hesitent to put money in the digital currencies and they still look for the stocks which deal with the principle technology. The advice given by Kalkine Pty Ltd and provided on this website is general information only and it does not take into account your investment objectives, financial situation or needs. You should therefore consider whether the advice is appropriate to your investment objectives, financial situation and needs before acting upon it.

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Home Macro Is the Crypto-mania ending soon? Disclaimer The advice given by Kalkine Pty Ltd and provided on this website is general information only and it does not take into account your investment objectives, financial bitcoin price falls over $100 billion wiped off cryptocurrency market or needs.

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