The price of bitcoin plunged last month, with fears that trading was about to be banned in South Korea. It then stabilized briefly, before plummeting again. these high fluctuations are partly the effect of continuing fears about regulation.
Its value dropped drastically toward the beginning of February, tumbling from $10,000 to $6,000 in four days. Notwithstanding, it now seems to be recuperating. It is worth $11,040 on 21st February, according to the coinmarketcap.
Bitcoins prices were down to $11,211.610 – with the loss of 2.73 percent today.
Analysts warn a mass bitcoin sell-off is to blame for the crypto crash this morning.
The sell-off comes after a cryptocurrency exchange in Japan reportedly experienced a temporary glitch last week that suddenly offered investors any coin for zero dollars.
According to Reuters, it was possible to buy cryptocurrencies for free on the Zaif exchange for about 20 minutes on February 16th.