Very Sad News To Bitcoin investors
Cryptocurrency,Well when ever we talk about this work the name that come up on to our mind is bitcoin.
Recently bitcoin hit 20 k so all the investors on bitcoin got huge profits.
But now the whole scenario has been changed and reverted back.
Yes the bitcoin price dropped to 8 K from 20 k.
cryptocurrencies plunged on Friday, with bitcoin at one point sliding below $8,000 and headed for its biggest weekly loss since December 2013, amid worries about a regulatory clampdown globally.
This week’s slump brought the total market value of cryptocurrencies down to around $400 billion, half the high it reached in January, according to industry tracker Coinmarketcap.com. The market value of cryptocurrencies is calculated by multiplying the number of digital coins in existence by their price, although many question whether that is the right way to value them.
Experts are now suggesting that those high prices might have been the result of market manipulation.
Cryptocurrency die-hards expecting the price to bounce back, even partially, will see these tanking numbers as the perfect entry point for getting in low and maximizing gains. Late speculators who got in during the mass crypto hysteria of the holiday season aren’t likely to have such steady hands, a factor that’s likely contributing to the slide.
Nouriel Roubini, a professor at Stern School, said the revelations could see bitcoin plummet by as much as 80 percent.
He tweeted: “Indeed Tether/USDT used to manipulate Bitcoin prices. Without this scam Bitcoin price would collapse by 80 percent
Another reason for bitcoin’s woes could be a spate of recent hacks and threats from a number of governments that crypto trading could soon be heavily regulated.
From my experience i too invested on btc,well it is really sad that it went down but lets hope it will comeup.
It was revealed last week that hackers have been exploiting YouTube’s advertising service by targeting users to mine cryptocurrencies, including bitcoin.