BITCOIN BUBBLE UNDER PRESSURE

Updated: 12/05/2013 12:18
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The Chinese stock market has suddenly halt the crypto currency trades just as fast as it used to get involved into that mess. The China's central bank...

The Chinese stock market has suddenly halt the crypto currency trades just as fast as it used to get involved into that mess. The China's central bank has decided to stop that speculative movement, taking into consideration the further usage of the non-regulated currency may be a real threat for the economy and and security of the country in terms of money-laundering, uncontrolled speculations and things like that.

The individuals themselves are still able to make transactions with Bitcoin, however on their own risk. As for financial instituations, BTC trading has been forbidden. As the result, we may observe critical decline of the Bitcoin rate to more than $200 within this morning. It used to be $1225 at night and after the latest news it fell down to $900.

Former Fed Chairman Alan Greenspan has discussed the future of Bitcoin and the situation around it on Bloomberg channel. He is sure about the fact Bitcoin is a bubble, which is close to its critical point. "...if you ask me, 'Is this a bubble in Bitcoin?' 'Yeah, it's a bubble." - said Mr. Greenspan.



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