Bitcoin dives below $10000 with a 50% decrease in value


The pace of bitcoin's rise may be slowed by worries about a crackdown by global regulators on cryptocurrency trading but should not threaten its existence, investors and market participants at a cryptocurrency conference said.

Exactly how it will do this remains vague, "but just the threat of action has been enough to drive a sell-off across the market globally" and spark a wave of protests across the country, says the BBC.

According to analysts and longtime Bitcoin investors, this drop happens on a yearly basis. The market on speculation has also provided the bubble which has become a large series of talks in recent times.

While it is tempting to speak about the market swings seen in Ethereum, Ripple and other cryptocurrencies yesterday, the wild ride in Bitcoin stands out.

Unlike other types of investments, such as stocks or gold, Bitcoin trading never stops, either. More than half of Russians know what bitcoin is, but only 9% are interested in buying this cryptocurrency, an opinion poll carried out by the All-Russia Public Opinion Research Center showed on Thursday. We have no immediate reason as to why there was a dip today, bitcoin has been experiencing falls over the past week.

Although the cryptocurrency market has had highs and lows before, the fact that Bitcoin, in particular, was just last month heading towards the $20,000 mark and has now plummeted to just under $10,000 is obviously worrying.

Chinese state media reported that the government was planning to stamp out remaining cryptocurrency trading in the country following a crackdown previous year. While it has not been a good week for bitcoin, and cryptocurrency as a whole, it is safe to say we will definitely be seeing more news from it in the coming months. The digital currency - which is blamed among crypto enthusiasts on being backed by big banks - exhibits about 70 percent increase within last 24 hours.

Ripple, the third-biggest, has lost 18 percent of its value over the past 24 hours and was quoted at $1.03, down from a high of $3.81 on January 4.

Investors should watch out for any policy shift on bitcoins, from China and other countries.

On January 11 it came to light that the South Korean Ministry of Justice had reportedly confirmed a plan to shut down all cryptocurrency exchanges.

And Go Holdings, including estate agency Go Move, covering Hertfordshire and a new homes development company, Go Homes, claimed in December 2017 to be the first agent in the world to sell a home through Bitcoin.