Bitcoin’s price plummeted to $ 6,600 in the early hours of April 5, reaching its lowest levels. This is happening against the backdrop of increasingly frequent calls for regulating cryptocurrency from different parts of the world.
Statistics show that the total market capitalization of all types of digital money has fallen by more than $ 500 billion from its peak in January 2018. At present, it is estimated at nearly $ 257 billion, and in early January it was almost 800 billion dollars, according to Coinmarketcap data.
Bitcoin did a milestone of $ 20,000 per BTC at the end of December according to Coindesk. Now its price is around $6,700.
The negative trend for the largest cryptocurrency, and for everyone around it, is heavily influenced by the rise of regulators around the world. The most critical are the criticism of the authorities in South Korea and the United States.
People must remember – Banks hate cryptos. Because the Blockchain is removing the need of a bank. The bank’s are the middleman between people sending money to each other but with cryptocurrencies like Bitcoin there is no need of a Bank.
Giants such as Google, Facebook, and Twitter have decided to ban the ads of cryptocurrencies and their trading on their platforms. But users are still saying that the ban is not working on 100% , because people all around the globe are reporting for Crypto ICO’s advertising and here the real question is coming. Is this a pure FUD? Are there people who want the prices to go lower and lower and then like a magic to see the market again on 500 Billion or even above that number? Maybe we are ahead of a new Bull Market? Nobody knows but one thing is for sure. Crypto’s are fact and they are here to stay.