The price of bitcoin, wrinkle, litecoin, ethereum and other cryptocurrencies fall under the fear that an increasing number of lenders and financial institutions are avoiding them.
US-based bank Goldman Sachs reportedly plans to set up a cryptocurrency trading desk in its offices, according to Business Insider.
Bitcoin, the world's largest cryptocurrency, has dropped almost 10 percent earlier this morning and is currently down 4 percent to $ 6,419.
Fall: the price of bitcoin is more than 4 percent this afternoon to about $ 6,418.79
In December last year, bitcoin traded at $ 19,000, but by June this year the price of bitcoin had dropped 6.2 percent to $ 5,887.
The price of ethereum has dropped almost 20 percent in 24 hours and currently drops by 1.56 percent to around $ 229.08, while litecoin and wrinkle have both lost more than 7 percent of their value in recent days.
Craig Erlam, a senior market analyst at FX firm Oanda, said: & # 39; It was a rough 24 hours for Bitcoin and his colleagues, with reports that Goldman Sachs has postponed the launch of a crypto-currency trading because of the uncertain regulatory landscape. & # 39;
He added: "The regulations will be crucial for all of this and the fact that Goldman Sachs remains so worried is clearly a blow. & # 39;
Banks such as Goldman Sachs get jitters about cryptocurrencies, because public finances around the world are making their positions on the craze increasingly clear.
Fluctuations: the price of bitcoin in the past month has turned wild and is currently lower
Filed? US-based bank Goldman Sachs reportedly plans to set up a cryptocurrency trading desk on the shelf
In July, the US Securities and Exchange Commission rejected a second attempt by Cameron and Tyler Winklevoss, founders of crypto-exchange Gemini, to list shares of what would have been the first ever bitcoin exchange-traded fund.
Outside the US, Chinese regulators have imposed a ban on the initial offering of coins, giving companies the opportunity to raise money through cryptocurrency. The ban in September last year caused a decrease of 6% in the price of bitcoin.
Since then, China has gone even further in its quest to keep the flow of cryptotrends out of the door and has banned trade fairs, social media accounts, news sites and events that overwhelm them.
The UK & # 39; s Bank of England also walked in the cryptocurrency debate.
Looking ahead: Warren Buffett has warned that bitcoin donors are struggling with calamity – and suggested that the online currency curve would fail
On its website, the Bank of England warns: "Cryptocurrencies are risks for investors and anyone who buys cryptocurrencies must be prepared to lose all their money."
Legendary investor Warren Buffett has also warned that bitcoin donors have to deal with catastrophe – and suggested that online currency trading would fail.
Buffett said: "In terms of cryptocurrencies, in general, I can say with almost certainty that they will end badly. When it happens or how … I do not know. & # 39;
JPMorgan Chase & Co. & # 39; s chief executive Jamie Dimon called bitcoin a & # 39; fraud & # 39 ;.
Despite warnings about the risk of losing huge sums of money, the number of Britons who have been tempted by the prospect of strong returns via cyrtocurrencies has increased enormously in the past few years.
This despite warnings for a bubble and many people who do not really understand how digital currencies work or how they fluctuate.
Anyone who is considering taking a punter on cryptocurrencies must do his research and be aware that they ultimately lose more than they put into it.
Ethereum price: a graph of three months that shows how the price of ethereum fluctuated
If you buy bitcoin
Discover how bitcoin and the blockchain work, so that you have some understanding of the system, the general ledger, the most important players and the public and private key elements.
Remember that Bitcoin does not yield anything and the main source of value is scarcity. Most bitcoin activity is trading do not invest.
Investigate coin coins, the digital vaults where cryptocurrency is held, and carefully consider security. Bitcoins have been stolen before, understand how this happened.
Be prepared for extreme volatility. The price can rise by 20 percent in one day and you can easily lose half your money at a much faster rate than when you invest in the stock market.
Consider how you can cash in any winnings. There are reports that this has proved difficult for some. A time of market stress could lead to people being trapped and unable to act.
Read our guide on How to be a successful investor, looking at the much less high world of long-term investing and how to make it a success.