[ad_1]
The period of stability of Bitcoin's most durable prices in its history is coming to an abrupt end, warned the experts of cryptocurrency.
From the beginning of September, the bitcoin did not record large market movements, trading between $ 6,000 (£ 4,670) and $ 7,000.
This unusually tight range comes after months of constant losses, which fall from a high close to $ 20,000 at the end of 2017 – market analysts predict it could be the "calm before the storm".
1/8 Satoshi Nakamoto creates the first bitcoin block in 2009
On January 3, 2009 the bitcoin genesis block appeared. It was less than a year after the pseudonym creator Satoshi Nakamoto described the cryptocurrency in a document titled "Bitcoin: a peer-to-peer electronic payment system"
Reuters
2/8 Bitcoin is used as currency for the first time
On May 22, 2010 the first bitcoin transaction took place in the real world. Lazlo Hanyecz bought two pizzas for 10,000 bitcoins – the equivalent of $ 90 million at today's prices
Lazlo Hanyecz
3/8 Silk Road opens to business
Bitcoin soon gained notoriety for its use on the obscure web. The Silk Road market, established in 2011, was the first of hundreds of sites to offer illegal drugs and services in exchange for bitcoins
4/8 The first bitcoin ATM will appear
On October 29, 2013 the first bitcoin ATM was installed in a coffee shop in Vancouver, Canada. The machine allowed people to exchange bitcoins in cash
REUTERS / Dimitris Michalakis
5/8 The fall of MtGox
The world's largest bitcoin exchange, MtGox, filed for bankruptcy in February 2014 after losing nearly 750,000 of its bitcoin customers. At the time, it was about 7% of all bitcoins and the market inevitably crashed
Getty Images
6/8 The real Satoshi Nakamoto would get up, please
In 2015, Australian police broke into Craig Wright's home after the businessman claimed to be Satoshi Nakamoto. Then terminate the complaint
Getty Images
7/8 The great division of Bitcoin
On 1 August 2017, an unsolvable dispute within the bitcoin community saw the division of the network. The fork of bitcoin's underlying blockchain technology has generated a new cryptocurrency: Bitcoin money
REUTERS
8/8 Bitcoin price sky rockets
Towards the end of 2017, the price of bitcoin rose to almost $ 20,000. This represented an increase of 1,300% compared to its price at the beginning of the year
Reuters
1/8 Satoshi Nakamoto creates the first bitcoin block in 2009
On January 3, 2009 the bitcoin genesis block appeared. It was less than a year after the pseudonym creator Satoshi Nakamoto described the cryptocurrency in a document titled "Bitcoin: a peer-to-peer electronic payment system"
Reuters
2/8 Bitcoin is used as currency for the first time
On May 22, 2010 the first bitcoin transaction took place in the real world. Lazlo Hanyecz bought two pizzas for 10,000 bitcoins – the equivalent of $ 90 million at today's prices
Lazlo Hanyecz
3/8 Silk Road opens to business
Bitcoin soon gained notoriety for its use on the obscure web. The Silk Road market, established in 2011, was the first of hundreds of sites to offer illegal drugs and services in exchange for bitcoins
4/8 The first bitcoin ATM will appear
On October 29, 2013 the first bitcoin ATM was installed in a coffee shop in Vancouver, Canada. The machine allowed people to exchange bitcoins in cash
REUTERS / Dimitris Michalakis
5/8 The fall of MtGox
The world's largest bitcoin exchange, MtGox, filed for bankruptcy in February 2014 after losing nearly 750,000 of its bitcoin customers. At the time, it was about 7% of all bitcoins and the market inevitably crashed
Getty Images
6/8 The real Satoshi Nakamoto would get up, please
In 2015, Australian police broke into Craig Wright's home after the businessman claimed to be Satoshi Nakamoto. Then terminate the complaint
Getty Images
7/8 The great division of Bitcoin
On 1 August 2017, an unsolvable dispute within the bitcoin community saw the division of the network. The fork of bitcoin's underlying blockchain technology has generated a new cryptocurrency: Bitcoin money
REUTERS
8/8 Bitcoin price sky rockets
Towards the end of 2017, the price of bitcoin rose to almost $ 20,000. This represented an increase of 1,300% compared to its price at the beginning of the year
Reuters
Indicating previous periods of stability, Albright Investment Group founder Victor Dergunov wrote in a blog post that plans to see a substantial price increase in the coming months.
"This is not the first time bitcoin has seen the calm waters, we have seen similar periods of modest volatility and humble price fluctuations," he wrote.
"Mainly, a similar phenomenon of low volatility occurred in the very advanced stages of bear bitcoin markets [whereby prices fall as investors sell]. Everyone seems to lose interest, the volume dries, the flow of news falls and then, when you least expect it, the next bitcoin bull market begins. [whereby prices rise as investors buy]".
The price of bitcoin has a flat line in recent months (CoinMarketCap)
His comments follow similar predictions from the blockchain technology expert Ian McLeod, who said L & # 39; Independent last week the cryptocurrency market will "explode" in 2019.
According to McLeod, however, large price gains will come from one of the bitcoin rivals, such as ethereum or stellar.
"We can expect bitcoin to lose 50% of its cryptocurrency market share to ethereum, its closest rival, within five years", He said.
"Ethereum is already light years ahead of bitcoin in all, but prices and this gap will become increasingly apparent as more and more investors enter the crypt."
It supports free journalism and subscribers to independent minds
Before 2017, the last big bitcoin price spike arrived in 2013, when its value went from less than $ 100 to over $ 1,000 within a few months. This was followed by a short fall in prices before a sustained period of constant losses and stagnation in the market, which saw bitcoin trading between $ 200 and $ 600 for more than two years.
If the bitcoin reflects this trend, investors may have to wait until 2020 for the next significant drop or price gain.
This lack of market movement would be welcome to some within the cryptocurrency industry, however, with price volatility often cited as one of the main obstacles that prevent the use of bitcoins and other cryptocurrencies such as traditional form of payment.
