Why bitcoin fell below $ 9,000

The price of bitcoin fell below $ 9,000, losing 24% in the price over the past three days. Only in the last 24 hours the drop was 12%. Now it is trading at $ 8,796.68 against the latest peak at $ 11,767 on 20 February.

Among the possible reasons for the decline are the actions of financial regulators from the US and Japan, as well as a large sale of cryptocurrency by the closed Japanese exchanger Mt. Gox.

First Wednesday, the US Securities and Exchange Commission reported that exchanges offering trade in “digital assets that are securities” will have to register with the agency. This statement was preceded by several weeks of pressure on the crypto-exchangers with SECs.

In Japan, on Thursday, Financial Services Agency suspended the operation of two BitTorrent and FSHO cryptographic exchanges for a month due to violation of safety standards, and also issued a warning to five more crypto-exchangers. Trustee of another Japanese crypto-exchanger Mt. Gox, which went bankrupt in 2014, yesterday sold Bitcoin and Bitcoin Cash for $ 400 million to pay off the exchanger’s debts.

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