Good thing that someone has finally gave us the realization on why Bitcoin is decreasing its value right now. I think this is one of the factors why the value of cryptocurrency fluctuates and we just hope that the countries banning bitcoin will not increase for it will affect the aggregate value of of Bitcoin.
You're right, no country backing, who will guarantee the value of encrypted currency? Virtual currency as a financial product needs to be maintained by confidence, when we all sell prices naturally fell, I hope we do not panic.