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This week has not been too bright for the price of Bitcoin and other major cryptocurrencies, as the markets turned red. The price of Bitcoin started falling from around $7,600 to a low of just over $6,500[1] at press time.
Although this fall is not as dramatic as some others in the history[2] of the volatile cryptocurrency, the general sentiment around the market has been negative for most of 2018. Still, Bitcoin is a volatile asset with its ups and downs still coming.
From the most recent slump that began on June 10, to a reprieve at the announcement that the SEC won’t consider Ethereum a security[3], the markets continue to go down, as well as up.
It has led many investors and interested parties to question what is going on in the market, especially in comparison to the highs of December last year[4].
A few experts in the field of cryptocurrency, investing, and markets spoke to Cointelegraph to give their insight into the current market situation, and why it is dropping.
Naeem Aslam[5], Emin Gün Sirer[6], Tom Lee[7], Miguel Palencia[8], and Alistair Milne[9], all discuss their thoughts as to the market is falling.
Naeem Aslam’s concerns with security and regulation
On June 11, it was reported[10] that a small cryptocurrency exchange in South Korea was hacked and many mainstream media outlets tied this catalyst as a reason for the sudden downturn in the market[11].
However, many commentators have refuted
