Is Bitcoin losing its byte?

Analyst says, persistent declines so far this year due to tightening regulations and government threats to ban virtual currencies, Prices of Bitcoin and other cryptocurrencies are expected to recover in the second half of 2018.
short-term forecast for Bitcoin is likely to remain relatively stagnant with its price expected to fluctuate between $6,000 and $8,500 in 2018.

Government threats to ban cryptos, tightening regulations and a series of recent security breaches have sucked the life out from the cryptocurrency market in the past few months. While tightening regulation and security breaches will continue to hamper the price of cryptocurrencies, it's important to note that market participants favour a currency that is borderless and is not subject to the whims and fancies of a government.

Bitcoin had recovered slightly to trade at $6,115 on Saturday afternoon following its plunge to $6,045.31 earlier, testing the low for the year of $5,922 that was set on February 6, 2018.

In the UAE, Dubai has announced that it will develop and implement emCash, an encrypted blockchain-powered digital currency enabling citizens to pay for government and non-government services. The crypto currency is being developed by a partnership of Dubai based Emcredit and UK blockchain company Object Tech.
Alike the US and EU regulators, the UAE is spending an immense energy, talents and resources in order to address the reality of virtual currencies whilst defining a common regulatory framework.