The bitcoin may fall by 90%

Cryptocurrencies launched the first day of the week "on a lame leg," after regulatory concerns continued to harass investors. Over the weekend, some of the largest Indian banks, including the State Bank of India, have stopped serving accounts, connected with crypto-exchanges, according to the Economic Times of India.
This is coupled with concerns about serious regulation coming from South Korea, where the government may introduce a law banning the trading of virtual currencies on local exchanges.
After its decline on Monday, the bitcoin fell below $10,500, or a decline of 8.5%, and the price of the ethereum was back below $1,000. With its downgrade, the bitcoin returned below its 100-day moving average, at $10,990.
According to technical analysts, closing the bitcoin below the specified level may open the cryptocurrency path to a new drop and test the psychological limit of $10,000.
Closing below the 100-day moving average could open the bitcoin's way to support line at $9,000. After the break of this level last time, the bitcoin marked five consecutive weeks of rise, which led it to a record high of $19,670.
Serious decline was recorded by other key cryptocurrencies, as the ripple, which declined again to a level of 1.20 dollars per coin after the momentary increase of over 1.60 at the end of last week.