Bitcoin investors have been hit by the conclusion of experts from one of the world's leading central banks. The recent collapse in the value of Bitcoin has stemmed from First Deputy Chairman of the Central Bank of Russia Sergey Shvetsov's skeptical view of cryptocurrencies. The official believes that cryptocurrencies have the signs of “a high-tech financial pyramid”. Due to the complete absence of any obligations, the Central Bank of the Russian Federation recommends that professional traders and, especially, ordinary citizens refuse to invest in cryptocurrency. Such an announcement from the regulator could not have gone unnoticed. In response, the cryptocurrency market, from Bitcoin and Ethereum to unknown tokens, showed a significant decline. The effect turned out to be so tremendous that now it is difficult to predict what is able to prevent a further slip.

“Cryptocurrency combines two features. On the one hand, cryptocurrency is used as a means of payment. On the other hand, it is a high-tech financial pyramid. Naturally, I do not recommend anyone to invest in something that does not bear any obligations.” According to Shvetsov, the demand for cryptocurrencies as a means of payment comes from those who want to bypass certain regulatory restrictions. "But this phenomenon is temporary, all regulators agree that restrictions should not be bypassed like that.” - he added. Therefore, the only conclusion we can draw is that the future of cryptocurrencies is uncertain.

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