Is Bitcoin Cracking Down?

in bitcoin •  2 years ago 

MW-CV752_broken_MG_20141006170517.jpg
Among the market commentator there is a fear that their will be a crackdown in Asia driving to sell-off.

The virtual currencies had been held back in recent days.

The Bitcoin’s value has dropped by more than 60 per cent in the last month. According to the leading market the cryptocurrency continues to fall down.

Meanwhile, Ethereum, Ripple, Litecoin and Bitcoin Cash and Steem Dollars have all experienced downward trends.

The possible causes for the crash and including threats from governments to limit crypto trading and a flood of recent security breaches.

The problem is the one tether of token is equals to one dollar.
That’s the used of the cryptocurrencies, because of it’s the standard value.
The cryptocurrency had been inflated because of people had been buying cryptocurrencies with tether and not the actual US dollars.

If the traders of bitcoin does have not equal reserve of dollar to back up the amount of tether token in existence that could cause terribly in cryptocurrency world.

Photo source:s.marketwatch.com/public/resources/MWimages/MW-CV752_broken_MG_20141006170517.jpg

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Coins mentioned in post:

CoinPrice (USD)📉 24h📉 7d
BTCBitcoin6471.970$-17.35%-40.78%
ETHEthereum625.688$-21.34%-46.1%
LTCLitecoin113.326$-19.53%-35.55%
STEEMSteem2.848$-20.22%-47.08%
XRPRipple0.635$-18.34%-49.31%

why market is down...??

To the question in your title, my Magic 8-Ball says:

As I see it, yes

Hi! I'm a bot, and this answer was posted automatically. Check this post out for more information.