Is China and North Korea the cause of bitcoin loss?
hi. steemians, Wall Street has emphasized the caution for the use of bitcoin currencies, but bitcoin use in North Korea has jumped and the Chinese government tightened the domestic market of virtual currency loaded by Bloomberg.
A macroeconomic strategist at Brean Capital wonders whether this is a sign of the universe or not.
Peter Tchir, the expert, said after a warning about bitcoin emerged from Jamie Dimon to Jeff Gundlach as North Korea's efforts to secure bitcoin and other virtual currencies that could be exploited to avoid an economic embargo arose in him.
"One thing I can not determine is whether the tightening in China and the alleged involvement of North Korea on bitcoin is the reason to release bitcoin 'bears' in their local market," said Tchir, cited by Bloomberg.
"I also would not be surprised if they get a signal from Washington that the alleged involvement of North Korea is a good reason for the government globally to whack the increasingly popular bitcoin in the virtual currency market of any kind."
So far these attacks have been confirmed at least on three South Korean bitcoin bourses, as well as one successful attack in May.
Bitcoin Fluctuation and Hacking by North Korea (Photo: Bloomberg)
the Chinese government has recently signaled a weakening of capital control, indicating Beijing's bold move to tighten its virtual currency to other motivations, one of them as Tchir suspects and not for example to maintain financial stability ahead of the Chinese Communist Party Congress starting on October 18.
with this incident, we should be more vigilant in the use of bitcoin. the spike in the price can be terrible.
What do you think. let's comment :-)