Bitcoin continues its downfall :


For several weeks, bitcoin has fallen sharply and continues to fall. In December it was close to $ 20,000 while currently, after a series of bad news virtual, it is trading below $ 6,000 this week.

It can not yet be said that the golden age of bitcoin is over. However, 2018 does not start strong, indeed, for some weeks now, the famous cryptocurrency, which was close to $ 20,000 in December, is now trading below $ 6,000.

Mirabaud Securities Geneva experts note that "behind this movement regulatory tightening and the fact that investors lose confidence" in virtual currencies, especially after the piracy of the Japanese exchange platform Coincheck, told AFP Stephen Innes , responsible for Asia-Pacific transactions at Oanda, a financial services company specializing in the foreign exchange market. On January 26, Coincheck lost the equivalent of $ 530 million in piracy of assets in virtual currency NEM, the largest theft in the history of cryptocurrencies. Last week was the "worst week for bitcoin since January 2015".

Around the world, anti-bitcoin measures are taken
Around the world, the tone has been hardened in recent days by monetary authorities and other financial actors regarding virtual currencies. For example, an official media announced that the Chinese government wants to stifle the latest cryptocurrency transactions, namely that in September the trading platforms had to stop their operations and that the authorities have currently blocked access to trading platforms . AFP Daisuke Yasaku of the Daiwa Research Institute says this decline "is mainly due (...) to the Chinese authorities' desire to strengthen the rules on cryptocurrencies".

On the same day, following the example of several US banks fearing debt problems, Lloyd Banking Group in the United Kingdom announced that it had banned the purchase of bitcoin from customers in possession of a credit card. In addition, in late January, the British government called for a rapid regulation of bitcoin to prevent it from posing a real threat to the financial system.

Monday Mario Draghi, the president of the European Central Bank, also warned on the subject because, according to him, cryptocurrencies would be "very risky" and the price "entirely speculative". At the next G20 Finance in March, joint proposals will be presented on the regulation of cryptocurrencies by French and German finance ministers.

Rising interest rates in the United States were shaken by investor nervousness, accompanied by a drop in bitcoin during the fall of stock markets on Tuesday, in the wake of Wall Street. However, Stephen Innes believes that "It is too early to make a link between stock market performance and bitcoin." He adds that "Bitcoin today has the same panic trends experienced by stock markets".
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