Bitcoin speculative bubble is bursting
Despite losing 40% in a matter of weeks the cryptocurrency still has further to drop according to experts at Capital Economics. Bitcoin speculative bubble is bursting and has a long way to fall, economists warn.
As regulators in South Korea again signalled on Thursday that they were considering a ban on cryptocurrency exchanges
The currency’s volatility has alarmed regulators around the world and suggestions that it could be banned triggered the latest falls.
Capital’s research note says:
“Most people are buying Bitcoin, not because of a belief in its future as a global currency, but because they expect it to rise in value, Accordingly, it has all the hallmarks of a classic speculative bubble, which we expect to burst. Triggers for the bubble to burst could be a further crackdown by regulators or a major hacking attempt.
“When it will fully burst is anyone’s guess and prices could yet rise again, before they fall further ahead,”
South Korea financial regulator chief Choi Jong-ku told:
“The government is considering both shutting down all local virtual currency exchanges or just the ones who have been violating the law,”
what do you think on this article is bitcoin bubble bursting is just a normal phenomena , share your precious views on it comment below.
Awesome work! I`ve re-steemed!
Must be supported...
Thank you for your wonderful work 😊😊
@ORIGINALWORKS
The @OriginalWorks bot has determined this post by @alirajput to be original material and upvoted it!
To call @OriginalWorks, simply reply to any post with @originalworks or !originalworks in your message!