The course of bitcoin, the most popular in the world, has now dropped to $12.8 thousand For five days, the bitcoin fell more than 25% after reaching a record high of $20 thousand on December 17.
HOW IT STARTED AND HOW IT DEVELOPED. The co-founder of Bitcoin.com Emil Oldenburg stated that bitcoin has no prospects as a trading currency. According to him, the main problems of this cryptocurrency – the high Commission and a falling rate of translation.
Oldenburg also said that the network throughput is limited by the size of the block of memory that stores transaction records. Because of this cryptocurrency illiquid and the investments in it become too risky. He said he sold all his bitcoins and made a choice in favor of Bitcoin Cash.
However, it is hardly what is happening in the markets associated with that statement Bitcoin Cash also collapsed, and even more than “ancestor” in terms of percentage. If bitcoin decrease of around 19%, in Bitcoin Cash – is almost 28%.
For the last five days Cash Bitcoin rose in price by 24.04%, to $1.9 million, while at auction on Thursday, it was trading at $3.2 thousand, then abalysis. The growth rate of the experts associated with news that Coinbase platform has launched Bitcoin trading Cash, which is now traded on the stock exchange GDAX.
VERSION. This week also made a statement UBS that bitcoin is the biggest speculative bubble in history, writes Bloomberg. But to associate with him falling rate is also not very good as a bubble bitcoin is called a very long time, though the most authoritative respondents, and the rate is increasing.
According to experts of Sharps Pixley, the dynamics in the market due to the emergence of futures on bitcoin at American sites or a promise to run such tools. Futures markets provide many opportunities for impact “financial sharks”, experts say.
However, the behaviour of bitcoin has signs of a “bubble”, says Bloomberg.
Reuters quoted analitikov Forex.com who believe that collapse of course was inevitable after rapid growth. The founder of the site Cryptocompare Charles Hayter said that many investors expected that the largest correction.
It is worth noting that the market is controlled in large part by non-professional investors who buy and sell assets on the mood, and almost completely controlled by the regulators. The usual exchange when I see signs of a bubble, close trades. This week, the operator of one of the largest kryptomere, Coinbase, announced that it will investigate allegations of insider trading after a sharp increase in the price of bitcoin.
WHAT’S NEXT. Bitcoin does have happened like the collapse of the course: in November 2017, he collapsed fell by 30% in four days, from $7.8 to $5.6 thousand, and in September by 40% from $5 to $3 thousand What will happen next, no one can predict. Because nobody can determine the cause of this decline. If the trust or the interest in bitcoin among investors will be reduced, without a doubt, the rate will fall even further.