Even the Christmas holiday could not stop the decline of Bitcoin, which fell below the $14,000 mark

The Christmas holiday couldn't stop Bitcoin from falling.

Bitcoin fell 3.8% today to $13,703. This means that Bitcoin has fallen for five consecutive days. Due to the Christmas holiday, most exchanges in the United States have suspended trading today. Currently, Bitcoin has fallen about 30% from its high.

On Monday, Israel announced a ban on companies that trade bitcoin from listing on the Tel Aviv Stock Exchange.

The move by the Israel Securities Authority (ISA) follows a warning last week by Wall Street’s self-regulatory body, the Financial Industry Regulatory Authority (FINRA), that certain companies were “touting high returns associated with cryptocurrencies such as Bitcoin.”

Recently, many bigwigs have warned about the risks associated with Bitcoin.

Former Federal Reserve Chairman Alan Greenspan said this month that Bitcoin is like the "Continental Currency" during the American Revolutionary War. It has no gold or silver as support. Although it can be used to purchase products and services, it ultimately has no value.

The "Continental Currency" mentioned by Greenspan is the currency issued by the United States during the War of Independence. It began to be issued in 1775. George Washington, the commander-in-chief of the Continental Army at the time, used these currencies to purchase a large number of weapons and pay for military expenses. However, due to the lack of support from gold and silver, these currencies became worthless seven years later in 1782, when the American War of Independence had not yet ended.

Buffett's partner Charlie Munger also said that Bitcoin is a crazy bubble. It makes people believe that they can easily get rich without foresight or work. This is the most impossible thing on earth.

Morgan Stanley said in a report last week titled "Decrypting Bitcoin" that it is difficult to price cryptocurrencies because they are neither like legal tender nor like gold. If no one accepts Bitcoin as a payment technology, the value of Bitcoin may be zero. Cryptocurrencies such as Bitcoin cannot replace all legal tender.

As bitcoin fell, ether rose about 5% to $717 on Monday.

At present, there is a view that Bitcoin may not be the cryptocurrency that can survive to the end.

Ba Shusong, chief economist of the China Banking Association, said that the central bank has now established a digital currency research institute, and a new generation of digital currency is under development, and Bitcoin may not be the one that survives to the end.

He said: "We are using blockchain technology to develop a new type of digital currency that is influential in China. The central bank has established a digital currency research institute, and a new generation of digital currency is being developed intensively. In the future, digital currency will inevitably grow and develop, and Bitcoin may not be the last to survive."