Unlike other cryptocurrency, Bitcoin is not a central bank or government. The fall in value seems to coincide with sales and interventions in some of the main digital currency exchanges, which may be due to the particularly high volume of transactions.
Bitcoin's ups and downs can be attributed to reports that Nasdaq and Cantor Fitzgerald are considering going through CME's footsteps and introducing the Bitcoins futures package, a move that confirms that real money is beginning to roll in virtual currencies .
On the other hand, the US Tax Authority (IRS) has succeeded in obtaining a court order that forces Coinbase to provide the authorities with thousands of accounts, which are owned by high volume traders in Bitcoins. In this way, he hopes he will be able to collect back taxes corresponding to "hidden" transactions, a move that may have led many investors to decide to sell Bitcoins.
Another possible scenario is that many investors may have decided to redeem their investments, seeing the steady rise in the price of cryptocurrency...
"It is a very special investment asset, it is a speculative item by definition, seeing the developments in its price. Investors take a risk by buying at such high prices, "ECB vice-president Vitor Constantine yesterday said, inviting the public to think twice before making the decision to buy Bitcoins at this stage.
The bitcoin losses have widened after Mario Draggi's statement that cryptobonds are assets with high risk. "We have to understand that bitcoin and other digital currencies are not regulated and should be considered assets at a very high risk," he said, according to Reuters. He also pointed out that banks should calculate the risk of digital coins that may be in their portfolios.
image from google
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