Virtual money is getting cheaper right before our eyes. Over the past 24 hours, the cost of the most popular crypto currency decreased by 16%. According to CoinMarketCap, now the average price of 1 bitcoin on the world's leading crypto-exchanges is only $ 8.53 thousand. In the last ten days, bitcoin has lost about a third of its value. And in comparison with the peak values ??of December 2017 g. Crypto currency has already depreciated 2.5 times. Speculative nature of crypto-currency quotes played a cruel joke with the holders of virtual money and turned to them the reverse side. Only a month ago, speculating with a crypto currency, they could get a frenzied profit in a matter of hours, and now they are rapidly losing their wealth. To support a cheap bitcoin there is nobody and nothing.

The remaining crypto-currencies also rapidly become cheaper. During the day, the ether dropped in price by 18.4% - to $ 935.7, Ripple - by 28%, to $ 0.82, Bitcoin Cash - by 21.6%, to $ 1.15 thousand. The market capitalization of the crypto currency is now $ 411.25 billion. On the eve, it was estimated at $ 511 billion. Thus, in just 24 hours, investors withdrew from the crypto currency $ 100 billion.

Depreciation of digital money occurs against the background of negative external factors. Earlier this week, the social network Facebook banned the placement on its pages advertising crypto, tokens and binary options. The administration of the service explained this by combating advertising messages that are able to mislead users.

Pessimism is also fueled by critical statements of authoritative persons about crypto-currency. The market did not have time to recover from the attacks of billionaire George Soros, as well as the leaders of the International Monetary Fund and the US Federal Reserve System, as the founder of the BK Capital Management hedge fund Bryan Kelly. He called bitcoin a revalued asset and estimated its real value of $ 8 thousand.

However, the expert is not in a hurry to bury crypto-currencies. He noted that he would not bet on the cheapening of bitcoins in the long run. "This is a young technology. The downgrade rate does not make any sense from the point of view of the risk-to-benefit ratio, because this thing can rise in price or fall in price by 20-30% per day, "Kelly said..

Significant signals for investors are also the actions of the authorities of several countries. Thus, the Government of India announced its intention to completely prohibit the use of crypto-currency, because it considers them illegal payment means. In South Korea, since Tuesday, January 30, the rules of the crypto-currency trade have been tightened: now every trader must identify himself with the help of a bank account.

And in Japan, local law enforcement agencies conduct massive searches in connection with the theft of half a billion dollars from the Coincheck exchange.

All this creates such a panic that recover from the impact of bitcoin has almost no chance. "When it comes to risky assets that fall in price by 50%, this suggests that the decline will continue. It's sad that many market participants will burn out, as they buy bitcoins, hoping that this is only a temporary pullback, "said Oana Trade Director Stephen Innes.