Bitcoin bubble collapses,value drops by 30 %

Tokyo Dec 22: The Bitcoin boom has risen in last month and the value had reached its peak of $20,000 at the start of the week. However, the currency value had dropped dramatically to $ 14,000 which is a 30 % drop in 5 days.

Experts said that the value of the currency would further drop in coming days. The value of the currency dropped by 14.7 % on a single day in Bitstamp exchange on Friday.

Earlier the value of the Cryptocurrency was $1000 at the start of 2017, however, the value of the currency surged to $20,000 on 17 Dec 2017, later the value of the currency declined.

Many experts said that Bitcoin is a bubble ready to burst at any movement and Investors should not lose their money by investing in the currency.

Bitcoin is a digital currency utilized for transactions and it is not been recognized in the majority of the countries as they believe that this currency is used for terror financing and other illegal activities because of its anonymity.