Video Duration 25 minutes 00 seconds
It lost half its value on Friday, with other cryptocurrencies trading in the red.
Bitcoin, the mother of all cryptocurrencies, lost almost half of its value in a matter of hours.
It peaked at more than $ 65,000 last year.
But Friday it’s it has fallen below $ 35,000 for the first time in months.
And it’s not just Bitcoin. Some of the biggest names in the blockchain traded in the red.
Some blame Russia’s Central Bank, which Proposed Friday a ban on the trading and exploitation of cryptocurrencies.
A ban by China last September had a similar effect.
But a US Federal Reserve decision to raise interest rates has already had an effect before the Russian announcement.
What does it say about the global economy?
Presenter: Hashem Ahelbarra
Naeem Aslam – Chief Market Analyst at AvaTrade
Zennon Kapron – Director of Kapronasia and author of Chomping at the Bitcoin: Past Present and Future, Bitcoin in China
Brian Lucey – Professor of International Finance and Commodities at Trinity Business School