The cryptocurrency plummeted to 30% a week ago, although it is already trading above 15,000 dollars
The recovery of bitcoin was still on Tuesday in markets with little activity for the Christmas season, rising by 10% and trading 33% above the lows recorded last week.
The bitcoin, the main cryptocurrency in the world, fell up to 30% on Friday to 11,159.93 dollars, despite a rebound to last session, recorded its worst week since 2013. This Tuesday rose and traded above 15,000 on the Bitstamp reference platform.
The digital currency came to increase its value since the beginning of the year, rising from levels below $ 1,000 to a maximum of $ 19,666 in Bitstamp and more than $ 20,000 in other platforms. But in the second half of December recorded strong declines.
While investors and bitcoin analysts talk about a natural correction after the dizzying rise since January, regulators and central banks are recommending more caution.
Without clear path
"There is no current price that reflects a correct valuation," said Andrei Popescu, co-founder of COSS, based in Singapore. "Taking profits is the right thing to do, but it's also right to buy with a long-term projection. You do not have to be right in this market, you just have to make less mistakes than the rest, "said Popescu.
In this sense, warnings about bitcoin do not stop. Shmuel Hauser, president of the Israel Securities Authority, said on Monday he would propose a regulation that would prohibit companies based on digital currencies from gaining access to the Tel Aviv Stock Exchange.
The warnings do not stop
The central bank of Singapore last week issued a warning against investment in cryptocurrencies, saying it considers that the recent increase in its prices is driven by speculation and that there is a high risk of a sharp drop in prices.
The prices of rival cryptocurrencies, which resented next to bitcoin last week, also recovered, with Ethereum, the second largest cryptocurrency by market size, trading around the 771 dollars, above the Sunday minimum of 689 dollars , but far from the highs of 900 dollars reached last week.