Is the end of Bitcoin. Probably yes

Bitcoin fell on Tuesday to the six-week minimum by warnings from regulators and further possible restrictions on the free trade of cryptocurrencies in China.

Other significant digital currencies, including ethereum and ripple, have also dropped significantly. According to CoinMarketCap, ethereum was traded at $ 1090.96, a decrease of over 18 percent in the last 24 hours, while the ripple fell by almost 26 percent to $ 1.37 per token. According to CoinDesk, which tracks prices from the Bitstream, Bitcoin, BitBinx and Bitfinex cryptocurrency markets, Bitcoin fell below USD 12,000 for the first time since December 5.

On Monday Bloomberg announced that the authorities of the Middle Kingdom planned to block the national access to cryptocurrency platforms in China and at sea, which allow for centralized trade. Recommendations of regulatory bodies will also be addressed to persons and companies that provide market, clearing and settlement services for centralized trading.

Last month, the most popular cryptocurrency grew to a record high of USD 19,333, but since then it has been gradually declining. Also in December, bitcoin futures were introduced for the first time, which allowed investors to take a short position. The futures on bitcoins on the Chicago Stock Exchange were traded at USD 12,080 on Tuesday, which was a decrease of over 12 percent session.

• It seems that the withdrawal effect is due to the lack of buyers in Asia - said Mati Greenspan, senior market analyst at eToro. - Japan and South Korea usually dominate in this market, but in the last few days volumes have dropped significantly. Today in the morning the total turnover from these two countries fell below 30%. - He added that - Koreans and Japanese are used to paying bonuses of 20 percent or more for each digital currency. However, it looks like they are becoming wise and waiting for the market to level out before they buy it again. -

Tired of the bonus
CoinMarketCap has recently removed Korean stock exchanges from price calculations, due to the extreme discrepancies in prices compared to the rest of the world.

South Korea, by preparing a bill banning trading in cryptocurrencies through stock exchanges last week, significantly reduced the price of Bitcoin and many other major digital currencies. However, recently the government of the country has softened its position, and on Monday said that it will decide only after extensive consultation and coordination of opinions. -

• Bill projects certainly do not help, but according to my assessment, the Asian market is simply tired of paying more for cryptocurrencies than other countries - Greenspan said eToro.

Charles Hayter, general manager of Crypto Compare, told CNBC: "Looks like uncertainty has caught up in the markets. Korea and Asia have generally been strong support for cryptocurrency markets with a large number of users. - Hayter also adds that - the current situation is a profit-taking with the growing risk of introducing surveillance on cryptocurrencies.