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      In early February 2018, the statements of the Ukrainian businessman and investor, Mark Ginsburg on this issue are very interesting. According to the entrepreneur, the main reason for bringing down the Bitcoin course are centralized actions by financial institutions, banks and hedge funds.

      Mark Ginsburg recalls that one of the reasons that sharply collapsed the cryptocurrency market was the deliberately false rumors that South Korea wanted to impose a ban on cryptocurrency, which were avalanche-like in social networks and in the media. (For example, on February 7, unknown persons broke into the Chinese regulator’s mail server and sent an invitation to a press conference in China to leading news media, during which they allegedly had to inform journalists of the official ban on all cryptocurrency operations in the country, including mining. In addition, on February 1, it became known that the news about the prohibition of cryptocurrency in India, which was actively disseminated in the media and significantly affected the decline of the Bitcoin rate, turned out to be a fake deal. ²⁷)

      In fact, it was only a matter of changing the rules of regulation in China. “All financial institutions, banks and other serious companies …try to sow panic so that ‘hamsters’ (ordinary people without experience and big financial opportunities who wanted to try their hand at playing on the market) leave the markets, and then they could buy all for a small cost. And then later, the course will rise again, and they will get their profit,” Ginsburg said. “Cryptocurrency is one of those systems that has independent properties. In this case, there are many factors that are too difficult to realize for a simple user. Not it’s worth sowing an extra panic. Last year, the Bitcoin rate fell by 30% five times, but then it continued to grow. And now the situation will not be an exception. Smart people already know what’s going on,” Ginsburg concluded. He advised not to sell Bitcoins and wait. ²⁸ This is one of the most useful tips you can hear now. I hope you have much more enthusiasm.

      Further – more interesting. On February 8, 2018, the creator of the RightCoin project and lawyer, Alexander Treschev declared that an article published by Bloomberg about mathematicians from the University of Pittsburgh, who, using a mathematical model, concluded that cryptocurrency will never stabilize and is a typical “bubble,” is nothing but an attempt to crush the cryptocurrency market. Treshchev noted that no mathematician can predict such a probability, not so much because of the laws of mathematics as the emotions at work on the market. According to the expert, behind this publication can be large bankers who want to derail the course of cryptocurrency and cash in on it. “The banks themselves began to play in this market an appeared with their cryptocurrency ‘bulls’ and ‘bears.’ Banks are now quietly buying cryptocurrency at the lowest rates. This is a manipulative-speculative market, and all the emerging information is to mislead ordinary people… It is the banks that are specifically destroying the market so that it is cheaper to buy cryptocurrency and enter this market,” Treshchev concluded. ²⁹ I think it’s good that I read this news. When you collect information in parts, the overall picture emerges.

      Attempts to crash the market did not end there.

      During an interview with CNBC on March 6, Kenneth Rogoff, a Professor of Economics at Harvard University, who previously served as chief economist at the International Monetary Fund, said that the rate of the first cryptocurrency would gradually fall under pressure from the governments of leading countries and eventually reach $100. “I think that the cost of Bitcoin will be a tiny part of what it is now. After 10 years, the price of $100 will be much more likely than $100 thousand,” he said.

      The expert drew attention to the fact that today almost no one uses Bitcoin as a means of payment and in the future, cryptocurrency will continue to be criminalized, turning into a tool for money laundering and tax evasion. A Harvard Professor of Economics also noted that regulation by the governments of large countries will significantly affect the value of digital money, but the authorities need to develop a global control system. ³⁰ March 6, the price of Bitcoin began to decline rapidly again.

      On March 11, 2018, there was news that the Working Group on Binary Options of Canada and the FBI were trying to convince Google to ban advertising related to binary options, ICO and cryptocurrency in principle. However, the Internet giant turned out to be less compliant, in contrast to the popular Facebook social network, which at that time had already banned the advertising of the cryptoindustry. Jonah Roy, Senior Inspector of the Securities Commission of Manitoba and Chairman of the Working Group on Binary Options in Canada, spoke about negotiations with Google. He also clarified that it is the Working Group and the FBI that stand behind Facebook’s decision to ban advertising related to binary options and cryptocurrencies. “It so happened that the Binary Options Working Group of Canada, as well as the FBI, told Facebook about their concerns and that ordinary people end up suffering from this advertisement. I hope that Google will adopt a similar policy for products such as binary options, ICO and cryptocurrency,” Roy said. However, Google at the time did not hurry to follow the policies of Facebook and Instagram. ³¹ Nevertheless, this news then hit hard at the price of Bitcoin. Already on March 14, the price of Bitcoin was about $8,100 at the time of market closure. And later, in June, a ban on advertising from Google did appear, which again negatively affected the price of the first cryptocurrency.

      On March 12, Zhou Xiaochuan, head of the People’s Bank of China, announced the official position of the central bank in relation to public and private cryptocurrencies. Zhou said that the central bank of China does not like “speculative cryptocurrency products;“therefore, the Central Bank does not officially recognize digital currencies, such as Bitcoin and aims to enhance regulatory actions. At the same time, the head of the Central Bank of China noted that digital currency is technically inevitable, but cryptocurrencies have significantly deviated from their initial goals, aimed at improving cash security and reducing transaction costs. Zhou believes that the focus is now on speculation and fast schemes aimed at instantaneous enrichment. ³² I think he is right, as now many people really enter this market only for the purpose of rapid enrichment. Moreover, most of these people do not really understand what products they are investing in.

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