After several days of Bitcoin and other cryptocurrencies showing good momentum after a big fall, finally the price of BTC fell by 9% wiping out its weekly gains. Over the past week, authorities from the central bank have been attacking Bitcoin as it shows a significant fall. The latest warnings and concerns come from Bank of Japan Governor Haruhiko Kuroda.
During an interview with Bloomberg, Kuroda noted that Bitcoin is not a real payment settlement method. Plus a large number of trades are very speculative and have very high volatility.
Over the past two weeks, Bitcoin has shown significant volatility starting from a statement by Tesla Executive Officer Elon Musk who said that Tesla is likely to stop alternative payments using Bitcoin and then strict measures are taken by China.
Last Friday, China announced its decision to ban cryptocurrency mining and trading activities in the country. The BTC price fell below the $ 32,000 level.
The comments from the Bank of Japan governor were released after a similar statement from another central bank governor. Last month, the head of the Fed also cited crypto as a vehicle for speculation. European Central Bank vice -president Luis de Guindos says that crypto is not a real investment.
At the same time, Bank of England Governor Andrew Bailey strongly believes that crypto has no intrinsic value. He added that people should be prepared to lose their money if investing in it.
This is not the first time Bitcoin has been attacked by central banking institutions. Currently BTC managed to rise 1% from this fall at the $ 36,000 level to the $ 36,737 price level. Also driving prices down was the withdrawal of profits among investors.
