Bitcoin loses a half of its value in one day market

Bitcoin lost more than a half of its value on Friday as an analyst warned that investors in the currencies had finally been introduced to the law of financial gravity.
In the latest illustration of bitcoin’s volatility, it falled to below $11,500 at a percentage on Friday – reaching $11,159 – having starting the week at a record percentage close to $20,000 and in its biggest percentage weekly fall since 2013. However, by 5pm London evening time it was trading at $12,800 as the currency endured a fair day.
It is a shocking reversal of bitcoin’s high evolution this year, having started 2017 with! $966, and raised warnings that investors need to be aware that they are not risking a rerun of the 17th century tulip bubble.
Bitcoin trades on a numbers of exchanges and one, Coinbase, was reported to have suspended transactions temporarily while there was also a temporary break of the new futures contract which allows investors to take bets on the value currency of the digital currency at a prediction of the future on the Chicago Board Options Exchange while it had to wait for the price to be checked and balanced.
Two futures contracts were launched this month, which were described as taking a step towards legitimizing digital currency at a time when regulators are stepping up their surveillance of products referred to the new technology.
One who made the survey was said to have been encouraged by the founder of another digital currency selling his holdings, one of them is Charlie Lee, founder of Litecoin, who said he was selling his holdings to avoid a conflict of interest that he faces when talking about the price of the currency which could appear to benefit him.
Some Analysts said the dramatic moves in the run-up to the end of 2017 meant that it would be difficult to predict what would happen in the new year 2018 when trading percentage are expected to rise, Lukman Otunuga, a Nigerian research analyst at financial firm FXTM, said: “The aggressively price action witnessed this week may prompt investors to start questioning if bitcoin will recover from the selloff or remain depressed moving into the new year 2018.”
The Financial Conduct Authority has made warnings about initial coin offerings (ICOs) which use digital currencies to raise funds for startup businesses. Investors in ICOs pay in digital currencies such as bitcoin and receive a “coin” in return, instead of making it shares in the company