Bitcoin slumps

財經新聞 © Straits Times

  • Some love them. Some hate them. But many things that Cryptocurrency roller coaster ride is here to stay.
  • The price of bitcoin fell 11 percent on Wednesday to US$10,000. That almost half what it was worth earlier last month.
  • Investors continue to be (spoon) by fear (raised) earlier in the week about regulator(s) clamping down on the asset.
  • I think it needs to be putting into wider context of where it was even this time last year. It’s still well above the level(s) that we were a year ago.
  • And it did really go on accelerated on (spar). I think there is some concern about convertibility.
  • And maybe that prompting a little bit of profit taking. As some investors start to cash out and take a little bit of profit.
  • In December bitcoin came close to US$20,000. A rise of nearly two thousand percent of the year.
  • But this year, South Korea is clamping down hard on what it called the irrational investment (craze). It even considering banning trading Cryptocurrency altogether.
  • China authorit(ies) may also introduce a ban on centralized trading of virtue currency, as well as one on individuals and businesses that provide related services.
  • It’s electric currency holder wondering to get off the ride altogether, in the hope of a better one (rebuilt). Or hang on regardless and put up with a bit of motion sickness.

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