04 Jul '13, 5pm

Bulls and bears: Why is the price of bitcoin falling?

Bulls and bears: Why is the price of bitcoin falling?

The price of bitcoin has increased slightly since Mt. Gox announced withdrawals had resumed, however, it’s still way off the highs of around $260 reached in early April or even the $135 reached in May. But what’s behind the decline witnessed over the past six weeks? The prevailing view seems to be … a combination of factors. Let’s take a look at what some of those involved in the space think. Alistair Cotton, corporate dealer at Currencies Direct, said he thinks the recent fall in the price of bitcoin is due to the digital currency becoming more mainstream and, therefore, “coming further into the gaze of regulators”. It’s widely believed that the recent involvement of regulators, especially in the US, has made some investors rather jittery and led to an increase of sellers, causing the price of bitcoin to fall. Mr Cotton thinks digital currency will eventually need to be r...

Full article: http://www.coindesk.com/bulls-and-bears-why-is-the-price-...

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