The plunge in the price of bitcoin

Chronic. In the “mines” bitcoins, the alarms ringing everywhere : the most popular of cryptomonnaies in circulation plunges, plunges… She has lost more than two-thirds of its value since December 18, 2017 blessed, where she had exceeded 19 000 (15 400 euro), as a nice gift before Christmas ; it was worth more than $ 6,000, Tuesday 6 February, after its precipitous drop in the last days. These alarms are coming from international financial institutions, regulators, large prevent european banks and even the social network Facebook, which does not want to do the article.

The last warning – and not the least of which emanates from the director general of the Bank for international settlements, the ” bank of central banks “, which is to ensure global financial stability. “The bitcoin is a bubble, a mounting Ponzi scheme and an environmental disaster “, accused, on Tuesday, Agustin Carstens. In other words, the cryptomonnaie is the subject of rampant speculation, it offers a yield untenable based on the money of the last buyers without being attached to material wealth, and it generates a huge consumption of electricity for the millions of computers necessary to its existence.

There are several reasons for the stampede today : the decision of the chinese authorities to put a stop to the recent hacking of a japanese platform for the exchange of cryptomonnaie, the decision of the major us banks prohibit transactions with the credit cards to avoid over-indebtedness of their clients… And, more diffuse, the threat of a regulatory intervention : it would break this old dream of libertariens to free itself from all monetary control exercised by the States, the gendarmes financial and central banks.

Crisis of confidence

These should be ” ready to intervene if necessary “,…

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