Bitcoin is recovering from losses

Service Business

Bitcoin was losing a lot, but it rebounded. The biggest drop was recorded on December 6, when its average market price was just $ 552. A day earlier, you had to pay $ 990 for Bitcoin. It hit its peak when enthusiasm rose to $ 1,137. Today, on December 11, you can see a quick recovery - Bitcoin costs $ 939.

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Such sharp fluctuations in the rate of internet money were predictable. The increase in Bitcoin's value is the result of the actions of speculators and the enormous enthusiasm of investors. The decline was caused by the declaration of the Chinese authorities, which announced that the currency would not be convertible at local banks. In addition, the Chinese portal Baidu (the equivalent of Google) has withdrawn the ability to pay with Bitcoin on its music service.

As you can see, investing in Bitcoins is a precarious business. It can be expected that subsequent state regulations will affect their rates as strongly as the decision of the Chinese authorities. The existence of virtual money, functioning alongside a full-fledged national currency, is a hard nut to crack for world governments.