6k already, can bitcoin’s value fall more

The value of bitcoin has fallen below the mark of $6000, which has been the lowest since recent past values considering mid-November values, as per CoinDesk. The qualms relating to increased restrictions and possible price alterations at the major cryptocurrency exchanges have risen, following the reports of decline.

The heads of the U.S. Securities and Exchange Commission and Commodity Futures Trading Commission too are ready to affirm the news before the Senate Banking Committee as of on Tuesday. The value of Bitcoin has fallen in more than two months to its lowest.

The famous digital currency came down to a mark of $5,947.40, which has been its lowest since mid-November as per CoinDesk, which tracks and compares the prices of four major platforms for crypto exchanges.

Bitcoin stood at 8:56 A.M on a price of $6,088.02. UK time and was down by 11.9 % approximately on the same day as reported by CoinDesk. Site reportedly measures the value of bitcoin based on Universal Coordinated Time – presently the time zones being same as London.

This decline has resulted in a loss of around 50 % for the year yet, for Bitcoin.

12-month occurrences of Bitcoin

The current fall-down follows the report from the last week, which has increased the edginess and qualms relating to heightened regulations,hackers and possible price alteration at major cryptocurrency exchanges.

Major Banks in America also announced about the ban that they have concluded to put on the cryptocurrency expenses by the customers who  possess credit cards, on Friday. These banks included banks like Bank of America,Citigroup and J.P. Morgan Chase.

China is also on its way to increase rules and regulations regarding the crypto currency purchases on crypto exchange platforms, particularly on those who may have shifted overseas after Beijing putting a ban on the Initial coin offerings last year in September. South China Morning first posted this news on Sunday.

The heads of the U.S. Securities and Exchange Commission and Commodity Futures Trading Commission too are ready to affirm the news before the Senate Banking Committee as of on Tuesday.

Jay Clayton, the SEC Chairman made a remark saying that investors must remain alert about investments in cryptocurrencies and gave an outline of the work done by the commission so far.  Bitcoin still stands numerous hundred percent high as compared to the values of over last 12 months.