Bitcoin was not enjoying a very good start in 2018. The first quarter price performance of Bitcoin shows that it has recorded the worst first quarter in its history. Ethereum also joins Bitcoin in recording worst first quarter price performance.
Bitcoin has seen a 48% decline in the price performance for the first three months of 2018. It fell from $13,412.44 to $6,928.85. The previous poor performance of Bitcoin for the first quarter was in 2013 when it fell from $770.44 to $478.72. That time it recorded a 38.7% fall.
Ethereum recorded a 47.7 % decline in the first quarter of 2018. The worst performing cryptocurrency was the Ripple that showed a 77% decline in its price performance in this year’s first quarter.
The main reason for the cryptocurrency seeing a huge hit in the market is because of the advertising crackdown on the Internet platforms and also the regulatory scrutiny on these coins. The South Korean and Chinese regulators have been very hard on the cryptocurrencies.
The Securities and Exchange Commission in the United States is looking to bring the cryptocurrencies under its laws. There has been more regulation for the cryptocurrencies among the central bankers of the world.