Bitcoin, number one digital currency, is currently suffering drops in price. Jonathan Cheesman, a partner at investment firm Distributed Global, has provided an explanation for Bitcoin decline. According to Jonathan Cheesman, macro trend, speculative dominance, regulatory uncertainty, short selling, and scams are the reasons why Bitcoin has fallen.
Cheesman explained that regulation and infrastructure of the digital currencies as a valid asset class are improving, that’s why more and more investors recognize cryptocurrencies as secure and legitimate stores of value. He said: