Many government has said it will tighten virtual currency management, causing Bitcoin prices to fall below 9,000$.
Bitcoin prices traded on Coinmarketcap at 8:40 am on Feb. 2 were around 8,779.76$, losing more than 14 percent of yesterday's value.
Compared to the peak set in December 2017, Bitcoin lost more than 60% of its value.
There's a lot of government going at crypto right now. Its a fact. From Asia to Europe. And this is a big hurdle that we all need to overcome. We are down but not out yet. But I advise you to look at crypto investment for long term. As much as everyone wants to see it hitting $20,000-$30,000 today, it will not always be the case. But if you recall just a few months back we are just about in the same range as today but then bitcoin shoots up to almost $20,000. So don't lose hope, bitcoin is very resilient from this kind of market correction, it keeps bouncing back and hitting all time highs afterwards.