When “specialists” last year claimed that the price of Bitcoin by the end of this year will exceed USD 40,000, many people have been carried away by emotions instead of listening to more rational voices. It was hard to be surprised, however, when in December last year the price of one Bitcoin was already nearly USD 20,000. Since the beginning of 2018, however, the trend has been reversed quickly and virtually all digital currencies depreciate, and yesterday brought a significant slump in this topic.
The price of Bitcon dropped by about 12%, and the situation is similar with other popular cryptocurrencies, such as Ethereum or XRP, which also dropped a dozen percent decline. Currently, you need to pay about 5,500 USD for one Bitcon, which means the weakest result for over a year. With the Crypto News german now you will know more about this.
The price of Bitcon dropped by about 12%, and the situation is similar with other popular cryptocurrencies, such as Ethereum or XRP.
Big drop in Bitcoin prices and other popular cryptocurrencies
What’s more, market capitalization Bitcoin for the first time since November 12 last year fell below the level of 100 billion USD, and the situation on the entire crypto market looks very similar. The value of all digital currencies is currently estimated at USD 180 billion (a decrease from USD 210 billion) and it is the lowest since the end of October 2017 (since the beginning of this year has already fallen by 70%).
- For this state of affairs is blamed not only the ending “fashion” on cryptocurrencies, but also the uncertain fate of Bitcoin Cash (not to be confused with the ordinary, definitely more popular Bitcoin from which it derives), which today, due to a strong split in the cryptocurrency and follow-up wars for the size of blocks, will pass a hard fork, which is a blockchain division on Bitcoin ABC and Bitcoin SV (in the game there is also Bitcoin Unlimited).
- Greenspan (senior analyst at eToro) also explains the recent declines in the sale of technology shares of giants (including Apple), which is also expected to affect the cryptocurrency market.
The Best Limits
Despite the large fall in Bitcoin prices earlier this year, in recent months, the owners of this cryptocurrency could sleep peacefully, because for a long time its price fluctuated around USD 6,400. The situation from yesterday will probably again convince many people to think about the situation and possible sale of this currency.
From our point of view, the decline in the value of all cryptocurrencies is so beneficial that it no longer affects the price of graphics cards (although you must honestly admit that it is more and more often used specialized ASICs instead of gaming GPUs), which was a bane of players in last year. It cannot be concealed, however, that the forecasts of some analysts who believe in the bright future of cryptocurrencies, and even the displacement of traditional ones, are far from reality,