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Part of the charm of the bitcoin was his anonymity. But even this use case is targeted. This week, industry veteran and Erik Vorhee announced that his ShapeShift cryptocurrency change would begin to require customers to share personal information.
Rumors about Reddit of a bitcoin "whale" that moved a billion dollars of cryptocurrency, added to the fears. A person with a large share of bitcoins who decides to sell could theoretically undermine the markets.
"In these cases, perception may be worse than reality," said Mati Greenspan, senior eToro market analyst. "The volumes of Bitcoin through global cryptographic exchanges are now firmly above $ 6 billion a day, so even if this whale pirate decides to violate, it probably would not be great."
However, Greenspan pointed out that this week's price moves are actually "quite normal" for cryptographic assets, which have been marked by volatility since close to a maximum of $ 20,000 in December, according to CoinDesk.
"In reality, if anything, cryptographic markets remain as stable as ever," said Greenspan.
Prices remained relatively stable until August, fluctuating around $ 7,000 after placing under $ 8,000 in July. The cryptocurrency has lost more than half its value this year, but is still growing by 37 percent compared to a year ago. The cumulative market capitalization for all cryptocurrencies denominated in US dollars fell about 70 percent from the start of 2018, according to CoinMarketCap.com.
European finance ministers are ready to discuss the future of virtual currencies on Friday 7 September at an informal meeting in Vienna. Topics for discussion include "opportunities and risks involved" and "possible regulation of this global phenomenon", according to the website of the Economic and Financial Council.
