The bitcoin and other cryptocurrencies that went off at the end of 2017 suffered sharp declines on Tuesday, among other things due to a greater willingness to regulate the sector, analysts explained. The most famous of the virtual currencies, the bitcoin fell below $ 11,000 on January 16 and was quoted at $ 10,656.46, marking a decline of 23 percent compared to the previous day, according to data from the Bloomberg agency.
"Explaining the movements of bitcoin is always complex, but this fall (...) could be explained by the signs of the will 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 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 have also been affected by rumors that China would be about to ban the "mining" of bitcoins, the computing process that allows this currency to be issued.
Topic: Government Regulations can affect the price of the Bitcoin. (Read 94 times)
Yes, government regulations can seriously affect the price of bitcoin.
If there is bad news about bitcoin, it will discourage people from investing in bitcoin.
The price of bitcoin is likely to fall as the policy affects people's judgment.
If there is bad news about bitcoin, it will discourage people from investing in bitcoin.
The price of bitcoin is likely to fall as the policy affects people's judgment.
Government can regulate the price of assets, such as fiat currency through buying and selling actions in international market.
Government can reduce excessive enthusiasm for an asset class by saddling it with regulations that increase the cost of doing business.
Governmet can also make the asset scarce by imposing controls on it.
The above statements are some of the factors that can affect the Price of the Bitcoin through the Regulations of the Government.
How will you cope up with this kind of possible interference with the Government?
Government can reduce excessive enthusiasm for an asset class by saddling it with regulations that increase the cost of doing business.
Governmet can also make the asset scarce by imposing controls on it.
The above statements are some of the factors that can affect the Price of the Bitcoin through the Regulations of the Government.
How will you cope up with this kind of possible interference with the Government?
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