Bitcoin’s fall – a mixture of bubble, Ponzi scheme and ecological disaster

According to CoinDesk, Bitcoin has been traded on Tuesday with a value of $5,947 after an analysis. Its smallest value according to CoinMarketCap was recorded in February 6 and it was of  $6,252.44.

Bitcoin has decreased with 70% since December and the fall is being empathic even more now by the rigorous laws that have been brought in globally.

Bitcoin has become to many specialists a combination of bubble, Ponzi scheme and ecological disaster.

Agustin Carstens, manager of International Regulations Bank from Basel has warned that if authorities are not acting cautious when it comes to cryptocurrencies. This crypto space could connect to the economic system and could become a menace when it comes to financial stability.

Some analysts say that the spectacular growth from last year of Bitcoin has been manipulated by Tether.

Tether is the cryptocurrency that claims to be the counterpart of Dollar and the traders are using this virtual coin to buy and trade Bitcoin, because it is easier this way.

The uncertainty surrounding Tether lately has agitated traders and has led to a fall of 25% for Bitcoin.

According to a report, Bitcoin has raised with 40% after a set of freshly issued

Tether has reached the Bitfinex wallet.