Bitcoin hit $ 64,000 on Wednesday after Coinbase Global debuted on the stock market. But on Sunday, the cryptocurrency fell by 15% due to three reasons.
- The Central Bank of Turkey announced that it will ban the use of Bitcoin as a form of payment starting April 30. It will also prohibit companies from using crypto platforms.
- There are rumors that the US Treasury will take action on crypto-related money laundering issues.
- Central banks are speeding up their plans of creating digital currencies. They are also planning to ban cryptocurrency mining in Inner Mongolia
But despite Sunday's drop, Morgan Stanley and Goldman Sachs will continue to provide access to cryptocurrency investments.
In fact, JPMorgan believes that Bitcoin will grow up to $ 130,000 per coin.
Thus, the outlook for the cryptocurrency is still positive, although there may be strong price dips in the middle.
