Bitcoin trading is at sixth of last year’s price. Three investment bubbles burst in succession, says the analyst
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Even though the market has been cryptomized in the past year, several hurdles that have been signed on its value, the analyst said, could grow in the near future. On December 17, 2017, one CoinDesk bitcoin sold for $19,783. Whoever bought it a year before, he could congratulate – the liquid investment at that moment was valued at the unbelievable 2,500 percent. And the people who earned it were few. For example, Winklevoss twins, who have put money from the winning dispute over Mark Zuckerberg, are considered the first bitter billionaire billionaire. But the bitcoin did not hold on top for long. In February, he fell to half the record value, and then collapsed in November to about $3,000.
This collapse caused many bubble bubble captions that referred to the fact that the value is now about sixth of the record. The chief analyst is also talking about the bubble. “It was not the first bubble. And moreover, three bubbles burst in succession, “explains the analyst. The first was the bitcoin itself, which in a few weeks grew out of three on the nineteen thousand. Similarly, alternative cryptosomes grew even more severely. Ethereum fell by 94%, litecoin was 91% and rpple lost by 92%. The third bubble, according to analysts, is the so-called ICOs, ie the issue of new cryptosomes as an alternative to the issue of shares. “Ten billion dollars drowned in a market that did not create a single functional product,” says the analyst.
Market capitalization, the value of all bitcoins in circulation, has also declined markedly. From the top 326 billion dollars to the current 57 billion. This is in a situation where the number of bitcoins in circulation increases due to mining.
Cryptoptimists still refuse to talk about the bubble, recalling that at the two-year horizon the bitcoin is now more than quadruple, and that the development and spread of blockchain technology is now more important than the current market price for cryptos.
The analyst, however, expects bitcoin to get the impetus early next year to raise his price again. “The US Securities and Exchange Commission has to decide on ETF, a way to sell bitcoin over the stock market. A similar thing with gold has caused twenty times growth in the past, “says the analyst.