Bitcoin fell for the fifth consecutive day, after fears that the UK could leave the European Union (EU) weakened and hacking of another crypto-currency, which undermined the credibility of such assets. During the Asian trading, the price of Bitcoin fell by 6.1% to 573.84 USD, which extends from down trend after on Friday reached 2-year high. For this 5-day period, the asset is erased nearly 25% of its value. Bitcoin, like gold, followed Brexit bets on the eve of the referendum, held today as investors speculated a similar outcome for which governments and central banks have warned that it could cause confusion.
Confidence in Bitcoin was shaken this week after another virtual currency – ether, suffered a collapse in price because of a hacker attack, which theft of digital money. Earlier in the week, a Bitcoin exchange briefly halted trading due to technical problems. News that the fund venture capital Decentralized Autonomous Organization had been hacked, spread last Friday, which led to a decline in the ether. Later on Decentralized Autonomous Organization acknowledged the incident in his blog.
Hacking Decentralized Autonomous Organization “led to a loss of confidence among crypto-currency community where many actively traded with Bitcoin”, said CEO Gatecoin Ltd, Aurélien Menno. The price of Bitcoin climbed to 777 USD last week amid expectations that the production of new Bitcoin will slow as the return of mining crypto-currency is expected to be halved next month.