Bitcoin four days fell to 20 percent

© AP Photo / Eric GayПункт exchange of bitcoins. Archival photoBitcoin four days fell to 20 percent© AP Photo / Eric Gay

Bitcoin exchange rate in four days fell by 20.3% against the USD, the cryptocurrency has lost more than eight billion dollars in market value, according to the auction.

As at 12.43 GMT the price of bitcoin at the auction on electronic exchanges Kraken grew by 3.29% — 2508,5 dollars per one bitcoin. Its market capitalization currently stands 40,871 billion dollars. 12 June, it was 49,055 billion dollars.

In the course of trading on Thursday the pair reached the level of 2138 dollars, the lowest since may 30. Capitalization of cryptocurrency, according to CoinMarketCap, this day fell to 36,275 billion dollars.

The Agency MarketWatch relates the fall in the value of bitcoin on Thursday with the forecast of analysts of Morgan Stanley. According to them, the trend of growth in the value of the cryptocurrency may end until bitcoin becomes more regulated. «It is unclear why cryptocurrency grow so quickly in value. Demand attracts more speculation», — quotes Agency the words of the Bank’s analysts.

Since mid-March, the cryptocurrency grew in price by updating the historical highs. The continued growth was due to the fact that Japan with the first of April recognized the bitcoin lawful method of payment. From that day on weekly growth rate of the exchange rate of bitcoin to the dollar ranged from 5.15% to 26,98%.

However, wider acceptance of bitcoin them some other cryptocurrency could happen soon. The Commission on securities and exchange Commission (SEC) in March rejected the proposal of a number of funds wishing to trade cryptocurrencies. The regulator’s decision was based on the lack of oversight and transparency in such trades, the Agency said.