Bitcoin took a sharp fall this week down to $8000 as mounting concerns began to chip away at investor confidence in the future of the industry.

Bitcoin’s value was almost halved from a record high of $19,511 last December 18, right after the launch of regulated futures in the US. The largest cryptocurrency continued its tumble, with experts blaming events such as global regulatory threats, million dollar cyber heists, price manipulation fears, and the recent banning of cryptocurrency ads on Facebook.

A research analyst from Forextime Ltd. suggested that Bitcoin may be in trouble and that the price action indicate a bearish market where investor appetite is quickly eroding.     

 

Source: Bloomberg

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