Falling from the value of Bitcoin, the end of a dream ? :


After an explosion of the bitcoin price in 2017, everyone expected to see him dizzying in the coming months. It will not have been long since the most famous virtual currency has lost more than two thirds of its value since December 18, 2017.

After having peaked at nearly 15400 € in December 2017, the cryptocurrency was worth only 5000 € on Tuesday, February 6, 2018. All references in finance today sound the alarm: international financial institutions (IMF, World Bank ...), market regulators (AMF, SEC, FSA, etc.), European financial advisers, and banks. Even the social network Facebook takes away from the cryptocurrency by ceasing the diffusion of articles referring to it!
The current crisis of Bitcoin, although predictable by the frenzied speculation of which it was the object, is in addition accentuated by several decisions or international events of importance:
In September 2017, the Chinese government decided to ban the use of ICOs (Initial Coin Offering - a fundraising method mainly used in the cryptocurrency sector) and to attack companies engaged in fundraising. illegal.
The piracy and bankruptcy, in 2017, cryptocurrency exchange platforms, related to questionable practices on the part of companies launching the ICO.
US banks' decision to ban bitcoin transactions via credit cards to prevent over-indebtedness of their customers.
The threat, always underlying, of an intervention of the regulators on a currency whose idea of ​​origin is to free itself from the traditional monetary control systems.
Today, the most important warning comes from the Director General of the Bank for International Settlements, the body that looks after global financial stability. Its manager, the economist Agustín Carstens, recently described the bitcoin as a "financial bubble", a "Ponzi scheme", that is to say a fraudulent financial arrangement consisting of remunerating the investments of former customers with the funds provided by the new entrants, and "environmental disaster", due to the enormous consumption of electricity generated by the millions of computers necessary for the very existence of cryptocurrency.

Are we about to reach the limits of this libertarian system caught up by the reality of global finance?
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