Bitcoin cost is reduced at a record pace. 24 hours cryptocurrency value decreased by 25% and fell below $ 7 000. Such unexpected turn brought the news from South Korea, where hackers "robbed" cryptocurrency exchange for several million dollars. The value is also influenced by the situation in China, where they can completely disable the ICO. Among investors already discussed the complete collapse of Bitcoin and its replacement by a more advanced cryptocurrency.
Yesterday, during the trading session rate of Bitcoin fell below $ 6, 000. Thus, the most popular in the world cryptocurrency lost per day for about a quarter of its value.
According CoinMarketCap, the cost of other cryptocurrency also declined: Ethereum has fallen by 31.3% - up to $ 581.47 dollars, Ripple - by 26.6%, to $ 0.598 dollars, and Bitcoin Cash - by 29.2%, to $ 800.55. The market capitalization of all currencies is now only $ 342 billion, whereas yesterday it was nearly $ 394 billion. Yet, most analysts interested in is Bitcoin, which fell to the level recorded in November last year.
According to analysts, the index of dominance cryptocurrency (Bitcoin share of the total market capitalization) actually declined to its lowest level in 37%. They explain this by saying that "cue", unfortunately, is not the most convenient and fast payment system, but its role as an indicator of confidence in the industry is still unwavering.
Why is there is a falling value cryptocurrency? Experts point out that this week the reason for the fall was some news, including negative signals from the government of India, which could put pressure on investor sentiment. But the main news was the withdrawal from the market speculators and investors-beginners, who believed that they will suddenly rich, and who are now disappointed with the loss of their investments.
If we talk about the negative news about it, it should be noted that there were quite a lot. On Tuesday, the company has Facebook said it would not allow advertising cryptocurrency on their platform. Indian Finance Minister Arun Dzheytli in a speech at the presentation of the national budget announced that the government "will do everything necessary" in order to make it impossible to use digital currencies "to finance illegal activities, or for the replacement of the payment system."
Also interesting : Blokcheyn NEM
Did not remain aside privately and problems Bitfinex and Tether. Communication cryptocurrency Tether and Exchange Bitfinex has become an occasion for discussion - whether each token Tether provided with the dollar, and recently the US Commodity Futures Trading Commission has sent the company's agenda. The most serious charge against Tether is that with it deliberately inflated the price of Bitcoin.
To the list of negative factors can also be attributed, and a statement of the Japanese Exchange Coincheck, which said it plans to pay customers up to $ 426 million - is the result of hacking, because of which were stolen tokens NEM worth about half a billion US dollars.
Experts believe that the panic around Bitcoin may be part of a cunning move of major players. She's going to scare those who have already bought Bitcoin, and to prevent those who want to start investing in the currency at a lower price.
This currently closed sale. Experts recommend carefully to build up long positions for this instrument and kriptorynku in general. They soothe investors and say cryptocurrency nowhere is not going anywhere. Blokcheyn quite "young" technology to ignore her, and without blokcheyn cryptocurrency impossible.
However, the new leader of the market could be another cryptocurrency that recognize a large number of states. It is the lack of state - is one of the weaknesses of the Bitcoin.
Do not miss: The historic event in the United States: Regulators supported Bitcoin
In the meantime, the entire market cryptocurrency turned into a bubble that swelled optimistic and speculators, who decided to make a lot of money on a sharp rise in the cost. Do not forget that the majority of crypto currency - a contingent asset.
At the moment, investors are interested in the following questions: 1) what cryptocurrency will only grow? Answer: no. 2) what cryptocurrency receive the support of all states? Answer: no. In addition to that created by the state itself. A Bitcoin is not controlled by the state. It embodies a kind of rebellion against the state. Legalize and accept Bitcoin for the government means the surrender of the state to the business speculation.
However, many experts are confident that cryptocurrency led by Bitcoin will not disappear, but work with them, as with other financial instruments, it is a privilege of professionals rather than amateurs, which inflate the price, and then look for the way of salvation.
Analysts believe that this can become a substitute for Bitcoins that cryptocurrency, which will not only іnstrumentom for investment and present and convenient means of payment. Bitcoin those not yet become.
Cryptocurrency originally conceived as a full-fledged means of payment, but it is with their help, is meaningless to make purchases of goods and services. Courses are constantly changing, and the transactions, as it turned out, not as fast as the creators Bitcoins considered.
If cryptocurrency market will continue to evolve in the future may appear cryptocurrency that can become a means of payment. Blokcheyn - a decentralized system, whereby Bitcoin and other cryptocurrency can function without the banks' control. By the way, it is this feature is one of the main advantages of Bitcoin.
Based on materials WELTRADE