Bitcoin Hits Yearly Low Amid Development Woes and Tighter Regulations

Home / Bitcoin Hits Yearly Low Amid Development Woes and Tighter Regulations

The price of BTC went to a yearly low today, trading at $5,800 this morning. Experts suggest there is a number of factors that may affect the falling price of major cryptocurrency. One of the factors is regulatory and hostile actions by governments and internal challenges with the platform. Also, a number of negative reports, such as hack on South Korean exchange and decree by the Reserve Bank of India prohibiting Indian banks from having any involvement with cryptocurrency, have created concerns for the investors. On the other hand, the experts presume that the price will recover and will move far above its all-time high of $20,000, but the price of BTC and other altcoins will always be determined by its use.

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