The rumors about prohibitions in South Korea and China once again affected the digital currency, which shortly before Christmas was worth US $ 20,000.
Due to fears of regulation in the sector, bitcoin falls below US $ 12,000, after having reached record levels at the end of 2017, and dragged other cryptocurrencies.
Bitcoin "went below US $ 12.0000, something that has not been seen since the beginning of December," said David Madden, analyst at CMC Markets UK. Shortly before Christmas, the cryptocurrency was worth US $ 20,000.
All cryptocurrencies are being affected by the crash, according to the exchange platform coinmarketcap.com. This is the case of Ethereum, Ripple and Bitcoin Cash, which lost respectively 12.41%, 19.16% and 15.51% in part-time, according to the same source.
Analysts explain the phenomenon in rumors about a tightening of the regulation of cryptocurrencies, particularly in South Korea and China.
"Explaining the movements of bitcoin is always complex, but this fall (...) could be due to the desire to increase regulation" said Neil Wilson, an analyst at ETX Capital.
Last week the South Korean government explained that it was preparing to prohibit the exchange of cryptocurrencies, but shortly after it was rectified and said that it was only a possibility.
South Korea is one of the countries in the world with the most bitcoin exchange platforms, recalls the consultancy Capital Economics.
Investors were also affected by rumors that China would be about to ban the "mining" of bitcoins, the computer process that allows this currency to be issued
If you liked the post comments-upvote-sigueme- @ arpost
