The Cause of the Bitcoin Value to Fall After the Suspension of Facebook Digital Currency ?

The value of bitcoin has declined again after it had risen some time ago. Three weeks ago, the value of bitcoin touched USD 12,733 or around Rp 178 million assuming the exchange rate of USD 1 was equal to 13,981.

The largest digital currency in the world dropped 12 percent to USD 9,591 at exactly 3am New York time, as quoted by Bloomberg, Wednesday (17-7-2019). Overall, the value of bitcoin has fallen by 25 percent since its highest figure last June.

This is thought to have occurred because of the suspension of the development of the digital currency Facebook, Libra by US regulators. The US Senate Banking Committee is trying to review the structure of the digital currency before it actually circulates on the market.