Bitcoin "loses 15% of its value

The price of Bitcoin digital currency fell to its lowest level since last February, after the world's most famous cryptocurrency lost about 15% of its value, today, Sunday, while the price of "Ethereum", the second most popular currency, plummeted by 12%.

 

The price of one bitcoin unit reached 56,286.60 thousand dollars in today's trading, and the prices of all digital currencies plummeted, and it was not immediately clear the reason behind this sudden collapse.

 

Reports say the market mood has been soured due to rumors that the United States is planning to impose fees on several financial institutions for laundering money through cryptocurrencies, something that has not been confirmed by any official source.

 

Forbes magazine quoted an executive at the World Economic Forum as warning that the booming bitcoin and cryptocurrency sector may soon be exposed to a "dramatic" round of regulation.

 

"We will witness another round of dramatic attempts to regulate this space," said Sheila Warren, head of data, blockchain and digital assets at the World Economic Forum and a member of the Executive Committee, during the Bloomberg webinar last Thursday.

 

"As there is more and more activity in these areas, there are more and more demand signals for regulators to get involved and participate," she added.

 

The price of Bitcoin rose to about $ 65,000 per unit this week, an increase of nearly 800% compared to the same time last year, before its price retreated.

 

Due to the unprecedented rise in the prices of digital currencies, during the current year, the market value of these currencies reached two trillion US dollars, while experts warn that the matter is nothing more than a bubble that may end in a painful blow.

 

This week, the Turkish Central Bank banned the use of cryptocurrencies for payments, which led to an increase in Bitcoin sales and a drop in its price from its highest levels.

 

And in March, it was reported that India is set to propose a law banning cryptocurrencies, and it could start to fine anyone who trades or holds Bitcoin and other digital tokens.