The virtual currency bubble burst?
After continuously increasing prices recently, a real shock has just entered the Cryptocurrency virtual currency market. Bitcoin copper fell 16.5% in value, while Ethereum dropped 23.5% in just a few days.
The entire global virtual currency market, valued at $ 180 billion, evaporated 20 percent in just two days, Sunday and Monday. Despite this shock, Bitcoin has dropped to double its value four months ago. But this is a rather serious incident and demonstrates that the virtual currency market is not suitable for non-capital investors.
The cause of the global virtual currency collapse is the recent decision by the Chinese government. Recently, the Chinese government has banned investment activities and called ICO funds for virtual currency. ICO activity is seen as "severely disrupting economic and financial order".
However, the serious decline of the virtual currency market in the past two days may also be due to the bursting of the bubble. The value of virtual currency such as Bitcoin is reaching the highest mark in history, nearly $ 5,000 / Bitcoin.
If you look at history before, after a period of growth at a rapid rate, the value of Bitcoin virtual currency is always steeply unstoppable. This situation also happens frequently with traditional stocks, where the value is actually inflated like a bubble and then exploded.