Bitcoin, has lost half its value in just a few hours.
It reached an all-time high of more than 65,000 dollars last year.
But on Friday it dropped below 35,000 dollars.
Some of the biggest names in the blockchain have been trading in the red.
Some blame Russia's Central Bank which proposed on Friday a ban on the trade and mining of cryptocurrencies.
A ban by China last September had a similar effect.
But a U.S. Federal Reserve decision to hike interest rates was already having an impact before the Russian announcement.
What does that say about the global economy?
Presenter: Hashem Ahelbarra
Guests
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
- Follow us on Twitter: https://twitter.com/AJEnglish/
- Find us on Facebook: https://www.facebook.com/aljazeera/
- Check our website: https://www.aljazeera.com/
It reached an all-time high of more than 65,000 dollars last year.
But on Friday it dropped below 35,000 dollars.
Some of the biggest names in the blockchain have been trading in the red.
Some blame Russia's Central Bank which proposed on Friday a ban on the trade and mining of cryptocurrencies.
A ban by China last September had a similar effect.
But a U.S. Federal Reserve decision to hike interest rates was already having an impact before the Russian announcement.
What does that say about the global economy?
Presenter: Hashem Ahelbarra
Guests
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
- Follow us on Twitter: https://twitter.com/AJEnglish/
- Find us on Facebook: https://www.facebook.com/aljazeera/
- Check our website: https://www.aljazeera.com/
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Francisco Gimeno - BC Analyst Since 2017 we have seen this same headline at least once a year. There is, true, a bubble, but it comprises all financial system, and this iteration of crypto market. At the end of it, BTC will continue to stay, like the financial system itself. Bursting the bubble is always painful, but helping to clean, purify and leave the system leaner and stronger, integrating better in the new 4th IR digital economy's paradigm.