Bitcoin cannot stop losing its value

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Bitcoin cannot stop losing its value

June 29, 2018 - 10:46
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On Friday bitcoin continues falling below $6000 level. The largest cryptocurrency in the world is close to show 20% drop in last two months, Bloomberg reports. Demand for bitcoin is falling due to security problems and higher attention from regulatory authorities.

Photo © Miloslav Hamřík, CC0 1.0

On Friday bitcoin continues falling below $6000 level. The largest cryptocurrency in the world is close to show 20% drop in last two months, Bloomberg reports. Demand for bitcoin is falling due to security problems and higher attention from regulatory authorities.

Bitcoin cost about $5861 on Friday morning. This is the lowest level since last November. Competing coins, including Ethereum, Ripple and Litecoin, will also show loss of 20% or more in June.

Trust in cryptocurrencies was undermined this year after hacks at exchanges from Japan to South Korea. It raised lots of questions to the security of digital money. Central banks around the globe warn investors on danger of losses and theft.

This year bitcoin already lost almost 60% of its value.