Singapore has shaken the bitcoin course

Bitcoin again jumped, but this time down. On the morning of December 20, the rate of the most expensive crypto-currency decreased by more than 15%

Why is that

The reason for this is the warnings of the Monetary Authority of Singapore (MAS), as well as the chairman of the US SEC regulator Jay Clayton about the risks associated with investing in ICO and crypto-currencies. It was once again said that crypto-currencies are not a legal tender (concerns Singapore), they are not emitted by any government and are not backed by any assets, and speculative activity is called the fault of their stunning growth. At the time of writing the news, the price for Bitcoin is $ 16,754.

This is not the first time that government organizations have provoked a drop in the rate of the Crypto-currency. For example, in September 2017, due to state regulation and the banning of ICO's crowdfunding model in China, the cost of bitcoin fell from $ 5,000 to $ 1,000.

Recall that on December 17, 2017 bitkoin broke a new record , breaking the mark of $ 20 thousand.

Source: CoinDesk