the Bitcoin and other cryptocurrencies that went off at the end of 2017 suffered sharp declines on Tuesday, among other things due to a greater willingness to regulate the sector, analysts explained.
The most famous of the virtual currencies, the bitcoin fell below $ 11,000 on January 16 and was quoted at $ 10,656.46, marking a decline of 23 percent compared to the previous day, according to data from the Bloomberg agency.
The virtual currency is listed this Thursday, according to the site coinmarketcap.com, at $ 11,745 a unit.
In this way it reached its lowest level after the beginning of December. Shortly before Christmas, the cryptocurrency approached $ 20,000. The bitcoin "went below $ 12,0000, something never seen since the beginning of December," said David Madden, analyst at CMC Markets UK.
All cryptocurrencies are being affected by the crash, according to the exchange platform coinmarketcap.com. This is the case of ethereum, ripple and
bitcoin cash that lost respectively 28.35 percent, 41.70 percent and 31.07 percent at the end of the day on Tuesday. The analysts explain the phenomenon by the information on a hardening of the regulation of cryptocurrencies, in particular in South Korea and China.
"Explaining the movements of bitcoin is always complex, but this fall (...) could be explained by the signs of the will to increase regulation," said Neil Wilson, an analyst at ETX Capital.
Last week the South Korean government explained that it was preparing to prohibit the exchange of cryptocurrencies, but shortly after it rectified and said that it was only a possibility. South Korea is one of the countries in the world with the most bitcoin exchange platforms, recalls the consultancy Capital Economics.
Investors have also been affected by rumors that China would be about to ban the "mining" of bitcoins, the computing process that allows this currency to be issued.
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