Today's bitcoin price is below 7,000$. Other cryptocurrencies also lose - Ethereum 846$ (11,58%), Bitcoin Cash 1,130$ (10,67%).
Why it happening?
Reason 1. Stealing of bitcoin in the South Korean stock exchange.
There were gossips that North Korea trying to hack South Korean exchanges in order to steal cryptocurrencies. According to the National Intelligence Agency of the Republic of Korea, the North Korea has already managed to steal cryptocurrencies worth tens of millions.
Reason 2. Bitcoin ads ban in Facebook.
The social networking giant said that it will not display ads for financial products that “are frequently associated with misleading or deceptive promotional practices,” specifically virtual currencies and “initial coin offerings,” a fundraising tactic that new cryptocurrencies use to attract fresh investors.
As for me, I think it's a good idea because there are really lots of rogues in facebook trying to cheat us on money.
Reason 3. Indian authorities want to ban the trade in cryptocurrencies.
The authorities of India want to completely ban the trade in cryptocurrencies in their territory, since they consider them illegal payment methods.
More and more countries are in favor of regulating cryptocurrencies and even Egypt’s Grand Mufti issued fatwa against cryptocurrency; he urges Muslims to stay away from bitcoin.
Forecast for bitcoin.
According to forecasts of some experts bitcoin will continue its growth but most likely temporary.
The host of the Cryptotrader show on CNBC channel Ran Neuner, said in his Twitter that bitcoin will finish 2018 at around $ 50,000.
