As Regulators say crypto-currencies are highly speculative and dangerous investments, retail investors are withdrawing their money from their crypto wallets , which is pushing the prices down...
On Thursday, India declared to eradicate the use of crypto-currencies completely, joining China and South Korea in promising to banning ICO's and regulating crypto-currency investments and trading.
Facebook this week said that it would ban all cryptocurrency ads because many were associated with misleading promotional practices.
US regulators have put biggest cryptocurrency players like, Bitfinex and Tether in dark clouds.
Earlier this week, a massive $530 million hack of a Japanese cryptocurrency exchange renewed worries about the security of the industry and proves that the technology is still very immature.
But supporters of crypto-currencies still say that short-term price volatility is to be expected, and the blockchain technology underpinning these assets maintains its power and value.
If you trace back to 2011 and including the current sell-off, bitcoin’s price has been halved nine times before recovering. The last time was from January 2015.
So, just don't panic in this difficult time, every government is trying hard to bring the whole virtual currency space into their radar. Till then wait for the clarity from the government and watch their actions before making any investments in crypto-currency.
What do you think among the reasons mentioned are bringing the prices down? Share your thoughts in comments...