On boxing day, the currency rebounded more than $16, 000, restoring some of the losses before Christmas and pushing it down to below $12,000.
Bitcoin, the world’s largest and best-known cryptocurrency, lost more than a quarter of its value in one day and fell 30 per cent on Friday to $11,159.93. Despite the sluggish recovery, the worst week since 2013.
Since the beginning of the year, the digital currency has gained about 20 times, rising to $19666 on December 17th from $1,000 and rising to $20,000 on other exchanges. But since then it has fallen sharply.
While bitcoin investors and analysts saw price declines as a natural adjustment after the price boom, regulators and central Banks issued further warnings.
Based in Singapore, COSS co-founder Andrei Popescu said: “no suitable present price can reflect the current correct valuation levels, it describes itself as a cover based on encryption platform to the money all features of the digital economy.
“Profits are right, and long-term investments are right. “You don’t have to be right in this market, it’s just that there are no other mistakes,” Popescu said.
Shmuel Hauser, chairman of Israel’s securities authority, said on Monday that he would propose regulation banning companies that trade bitcoins and other digital currencies on the tel aviv stock exchange.
Singapore’s central bank warned last week that it would not invest in crypto currencies, which they believe has been a risk of a sharp fall in prices due to recent speculation.
Down with COINS last week competitors encryption currency prices also recovered, among them in terms of the size of the market’s second big stealth encryption monetary Ethereum offer about $771, higher than that of Sunday’s low of $689, but still far less than the $900 highs last week.