LIVE from the Nasdaq Entrepreneurial Center in San Francisco on June 14, 9:00 a.m. to 3:00 p.m. ET The world’s first and largest cryptocurrency Bitcoin is famous for being the decentralized peer-to-peer network. The idea of not depending on any governing authorities’ networks and not being controlled by any person is why Bitcoin is believed to be perfectly designed for hassle-free payments and money transaction between two people.
Bitcoin’s anonymity has attracted the attention of many entrepreneurs and crypto enthusiasts who developed altcoins based on bitcoin’s technology aiming to perfect its functionality. Bitcoin has now spread across the globe and is being used for payments as well as trading another crypto.
Bitcoin prices in deep waters. The decline started on Sunday when bitcoin failingly attempted a comeback.
Bulls could only raise the price point to $8,644 USD and since then the market has been tumbling down to approximately $8,240 USD which has currently gone down to $7,300 USD. There are several reasons for which bitcoin markets and cryptocurrency market as a whole is experiencing such extreme bearish trends.
Analysts have pointed out that it may have to do with the Chinese ICO markets being highly active and resulting in strict regulatory actions. The Chinese government has officially announced that it deems shady ICOs as great risks and that the government watchdog is keeping a close eye on excessive speculation, fraudulent profit schemes, and fake propaganda.” Read more from finance.yahoo.com…
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