In the past 24 hours, bitcoin trading prices on the Bitstamp platform have dropped below the five-point mark of 16,000, 15,000, 14,000, 13,000 and 12,000.
Remember that Bitcoin stunned global investors for a 36-hour rise earlier this month, with Bitcoin now staged again, but no longer up, but down. In the past 24 hours, bitcoin trading prices on the Bitstamp platform have dropped below the five-point mark of 16,000, 15,000, 14,000, 13,000 and 12,000.
If you spend 100,000 US dollars on Sunday to buy bitcoin, the current market value may be less than 60,000 US dollars.
Bitcoin trading at Coinbase, the U.S. exchange platform, has fallen below $ 11,000 this Friday, just above $ 16,000 in less than 24 hours, and has fallen more than 36% in the past 24 hours.
Coinbase data show that bitcoin dollar trading price has dropped more than 40% from the highest record created last Sunday. Bitcoin rose above $ 19,800 last Sunday.
Bitstamp, another mainstream bitcoin trading platform, said Bitcoin lost about $ 4,800 a day, down more than 24% in the past 24 hours and hitting a low of $ 11,891.
At this point, in the past 24 hours, the platform’s bitcoin trading prices have dropped below the five-point mark of 16000, 15000, 14000, 13000 and 12000 US dollars.
So, bitcoin collapse started?
Investors are “in the face of reality,” Oanda Corp. Stephen Innes, Head of Asia Pacific Trading, said. “At the core of the problem is the limited supply of bitcoin and crazy demand, which has now led inexperienced investors forced to clean up the mess.”
Bitcoin’s decline was due to fears that the split currency would become a stronger competitor. Earlier this year, bitcoin cash, split up by various factions suggesting software upgrades, began this week with Coinbase Inc., a well-known virtual currency exchange The deal.
Separately, Harvey Pitt, former chairman of the Securities and Exchange Commission, said on Thursday that the SEC would crack down on cryptocurrencies in suspicion and plans to introduce some tough regulatory measures next year. He said: “We will take a serious regulatory response to all this. The specific measures will be announced early next year.”
Earlier, the U.S. Securities and Exchange Commission has issued a warning, financial regulators also added a warning alert, Pete said, “further regulatory activities can be expected.”
According to foreign media reports, the latest U.S. Republican tax reform program will make bitcoin and other virtual currency investors lose a tax concession. Experts said the new restrictions in the bill will prohibit virtual currency holders from deferring the payment of capital gains tax when they trade one virtual currency for another, closing the current gray area in the U.S. tax code. Many traders currently back and forth between bitcoin and other virtual currencies, such as the ether.