The rise of the cryptocurrencies over the past year has been a major reason for hope among a huge circle of people that traditional money have found their replacement. After months of stormy growth, the main representatives of these digital currencies collapsed for the first time in double digits.

Bitcoin fell 15% and dropped below $12,000 a share, while the fall of Etherium is sharper – 20%, and currently it is traded for just over $1,000. The third popular cryptocurrency Ripple reported the highest drop of 33% to $1.23, according to Coinmarketcap.

The lowest value of the Bitcoin today was $11,182, then stabilized to just over $12,000, according to Coindesk data. For the first time, the price of the most popular cryptocurrencies is under $12,000 since December 4, as well as it devalued significantly from its peak of $19,783, which was reached on December 17 last year.

The reason for the sharp downturn is not yet fully clear, but it is mostly linked to rising signals of potential bans on cryptocurrencies in various major markets. China banned the exchange of Bitcoin in the country, as well as initial coin offering (ICO).

This is not the first action of the Chinese authorities against the Bitcoin, the government plans to eventually release its own cryptocurrency make this move predictable. Indications for such a ban are also from South Korea, but the Seoul authorities have not yet taken any concrete measures. Post from: GizBrain

https://i2.wp.com/szlifestyle.com/sz/wp-content/uploads/2018/01/cryptocurrency.jpg?fit=1200%2C683https://i2.wp.com/szlifestyle.com/sz/wp-content/uploads/2018/01/cryptocurrency.jpg?resize=180%2C150Martin JonesTECH NEWSBitcoin,cryptocurrency,Ethereum,RippleThe rise of the cryptocurrencies over the past year has been a major reason for hope among a huge circle of people that traditional money have found their replacement. After months of stormy growth, the main representatives of these digital currencies collapsed for the first time in double digits. Bitcoin...