This week’s Bitcoin crash was all about fraud and regulation

in #fact7 years ago

Cryptocurrencies have had a rough week: the value of bitcoin plunged to a mere 50 percent of its 2017 peak, and other currencies, such as Ethereum, Ripple, and Litecoin have seen double-digit losses compared to their heights from last year. Tuesday also witnessed the collapse of BitConnect, an anonymously operated crypto exchange that had been repeatedly accused of running a Ponzi scheme via its proprietary BCC currency.

Sort:  

Congratulations @imtiazkashmiri! You have completed some achievement on Steemit and have been rewarded with new badge(s) :

Award for the number of comments

Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here

If you no longer want to receive notifications, reply to this comment with the word STOP

By upvoting this notification, you can help all Steemit users. Learn how here!

Coins mentioned in post:

CoinPrice (USD)📈 24h📉 7d
BCCBitConnect36.097$-35.3%-88.57%
ETHEthereum1068.420$7.32%-13.44%
LTCLitecoin197.752$8.38%-16.65%
XRPRipple1.680$20.35%-18.87%

This temporal correction followed by a quick price stabilization has managed to scare away the weak hearts while reinforcing the confidence of long term investors.