George Town, Cayman Islands, November 26, 2018 (GLOBE NEWSWIRE) –
Monday, Bitcoin beat its lowest sign of the year, $ 4,600, having lost nearly 15% of its value over the 24-hour period
The current trend was further fueled by the activities of speculators at the BitMex exchange and by the recent Bitcoin Cash hardfork. The situation could also have been influenced by the trader's push to get out of Bitcoin and switch to Tether's stablecoins. According to the CryptoCompare portal, the BTC / USDT pair today accounts for around 60% of all key cryptocurrency transactions. So it seems that Tether, paired with Bitcoin, is even more popular than the good old USD. Bloomberg Intelligence analysts have further stimulated the pot that Bitcoin will continue its downward spiral, dropping to $ 1,500.
Investors worry that a software update can reduce transaction speed not only on the BCH platform but also on the same Bitcoin network, and these negative expectations were originally caused by the news that the Bitcoin SV network – one of the new forks in the Bitcoin Cash split – has detected a so-called blockchain reorganization attack, which slows or even postpones transactions. And it is still unclear whether it was a deliberate attack by hackers or if the failure of consent was an accident.
Andriy Zinchuk, CEO of ICOBox, comments on the topic. "Calm down and do not take sudden action in any way, because we are in the middle of the so-called" hash war. "When the big guns fight, the common people get the flack The apologists of Bitcoin ABC and Bitcoin SV are using various hash rate functionality to attract the economically viable majority on their side So far they have not been very successful, because soon after the last hard materials miners have started to extract new versions of Bitcoin Cash at a huge loss, on average "burning" about $ 300,000 a day, which simply makes their data mining economically impractical and creates panic in the market. "
The debate on the future value of Bitcoin is growing
Bloomberg Intelligence analysts predict that Bitcoin will fall to $ 1,500. In turn, a famous cryptographic software developer and analyst John McAfee tells his Twitter followers to "relax", while Tom Lee of Fundstrat Global Advisors believes that by the end of the year the fundamental cryptocurrency will recover and reach $ 15,000.
"We do not really believe the number of $ 1,500, but we do not even expect a rebound of up to $ 15,000.The truth is probably somewhere in the middle, so we at ICOBox are more inclined to line up with the most reasonable take of McAfee. Bear trends occur regularly, in various corners of the market, but do not forget that the nature of the market is cyclical and each incident follows the increase.This is what McAfee calls a "beautiful spring", has affirmed Daria Generalova, Managing Partner of ICOBox
Bitcoins can now be used to buy Apple and Facebook shares
For Bitcoin owners this is an opportunity to increase holdings and gain access to the traditional securities market, including those of the leading companies. For platform developers it is a way to attract new customers. WorldMarkets is trying to bridge the gap between cryptocurrencies and traditional finance.
Dima Zaitsev, Head of International PR at ICOBox, commented on the matter. "As I understand, the project team intends to continue to grow the list of companies whose shares can be bought for digital currencies, and this is not a reckless scheme on their part, but rather a deliberate choice to look at. beyond the collapse of the market in progress. "
Canada, the United Kingdom and the Singapore plan issue digital central bank currencies (CBDC) for cross-border transactions
"It is the anonymity of all processes, the absolute availability of digital currencies and the elimination of risks, which are always present during transactions with partners, and it does not even matter if it is a universal cryptocurrant that can be traded for various fiat auctions, or if each country will issue its own currencies supervised by the state's financial institutions – what is important is that it will create an opportunity for countries to settle their accounts in digital currencies.Can you believe we are living in the period in which the International Monetary Fund is starting to develop the legal framework for the cryptocurrency market, and its chief Christine Lagarde is urging central banks to issue encrypted money? This means that things could really start rolling early, "says Daria Generalova, Managing Partner of ICOBox.
Information on ICOBox:
ICOBox is the first and biggest growth promoter Blockchain and Business Facilitator of new generation for companies looking to sell their products through ICO crowdsales. We have helped more than 80 customers to raise over 650 million dollars.
Dima Zaitsev ICOBox 415-481-8528 [email protected]
