Bitcoin fever threatens to turn around for the holders of this asset by financial catastrophe. On Wednesday, December 20, the value of the crypto currency decreased by just 15%. For 1 bitcoin in the course of trading gave only $ 16,626.42.
This tremendous drop occurred only two days after bitcoin reached a record level of $ 20,089. The historic record was set after the Chicago Mercantile Exchange (CME Group Inc) began trading bitcoin futures. After this event, the futures on the Crypto currency increased in price by 25%. Because of the wild excitement, bidding had to be stopped twice. Cost of contracts for January 2018. reached $ 20.6 thousand. To date, the bitcoin course has somewhat leveled off. As of 12:00 Moscow time, the Crypto currency again exceeded the $ 17 thousand mark. and was worth $ 17 197.7, according to the data of Coinmarket. The total capitalization of bitcoin is $ 289.1 billion. World experts and financial authorities of different countries give very cautious forecasts about the future of the currency and warn novice investors about the high risks of investing in this asset. Thus, Singapore's financial regulator said that crypto-currencies are not a legal tender, are not emitted by any government and are not backed by any assets. The Ministry of Finance of Japan published a report that bitcoin can not be considered a "reliable" currency. Such a statement was made despite the fact that this country is one of the few where crypto-currencies are officially recognized. Co-founder of the largest Bitcoin industry website. com Emil Oldenburg admitted that bitcoin has no prospects and that he got rid of his bitcoins. He called investing in crypto currency the most extreme of all possible, while I am sure that people will start to leave bitkoin as soon as they understand how this system works, they are told by "Vesti-Ekonomika". Oldenburg was disappointed by high transaction fees and a slow confirmation time.
The current performance of bitcoins is too weak, the expert noted.. Another unpleasant news for holders of virtual money was a message from the South Korean exchange Youpt, which reported bankruptcy and termination of activities. This happened after hackers broke the security system for the second time this year and stole 17% of assets. All these negative factors, as well as the overestimation of bitcoin due to speculative demand, predetermined a fall in the rate of the Crypto currency.
The RF Ministry of Finance and the Central Bank have already called the bitcoins a "financial bubble" and warned Russians against investing in crypto currency due to increased volatility and risk of becoming a victim of scammers.
Meanwhile, not all specialists adhere to pessimistic forecasts. The head of the marketing department of the Hong Kong-registered Exchange, Gatecoin's crypto currency, Thomas Glucksman, called the bitcoin drop "short-term correction". "I think we'll see a recovery by the end of the week.".
To be honest, I see this as a short-term volatility, which we all expected to see, "says the expert Bloomberg.