Bitcoin drops hard again during turbulent week, under investigation?

On crypto platform Coindesk, bitcoin faced a 7% loss to $32,000 around 10 p.m. (Dutch time). Earlier this week, the cryptocurrency even dipped below $30,000. At the end of April, the digital currency peaked close to $65,000.

The greatly reduced enthusiasm to get into bitcoin is mainly due to the tough approach in China. Both the makers of digital coins and the financial institutions that provide crypto trading are increasingly restricted in the Asian country. China itself is in the process of putting its own digital currency on the market for its residents.

Call for ban: In addition, policymakers in many Western countries are also increasingly speaking out about the risks of bitcoin. In our country, there was even a call from the director of the independent Central Planning Bureau (CPB) Pieter Hasekam to ban digital coins.

Earlier this month, bitcoin was also hit after the FBI's discovery of bitcoins traced to the extortion of America's largest pipeline company, Colonial Pipeline. According to market researchers, it could now mean that investigative services will dive further into the crypto currency market.