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A visual representation of the Bitcoin digital currency sinks into water on August 15, 2018 in London, Much of the digital currency, including bitcoin, (BTC) ethereum, (ETH ) ripple (XRP) and star (XLM) saw a dramatic decline in their prices in 2018 amid mass sales. In December 2017 the price of BTC hit $ 20,000 but has since dropped to around $ 6,000. Illustration by Dan Kitwood / Getty Images)
Bitcoin, as well as most other major cryptocurrencies, have had a tough time in 2018. Bitcoin's price has dropped from its very high $ 19,000 in about a year. $ 6,000 – & nbsp; by dragging the likes of ethereum, ripple, star and coin lite with it.
The entire market of digital coins, including everything from bitcoin and ethereum, to dogecoin and ripple, has now fallen to its lowest value since the end of 2017, touching year-end lows of $ 186 billion, according to CoinMarketCap date .
Bitcoin has held up better than most, even though this year still lost 60% of its value. Ethereum fell by 86%, while Ripple lost 92% from the January highs.
Many in the industry have been talking about bitcoins recently, warning about the future of the so-called altcoins and the initial money market (ICO), suggesting that much of the institutional money that speculators expect to enter the cryptocurrency sector, eventually it will be pushed in the direction of bitcoin.
The market capitalization of all combined cryptocurrencies has steadily declined this year, although bitcoin outperformed the broader market. CoinMarketCap
"It's hard to say [if the wider cryptocurrency market has reached a bottom]" chief business officer at BitPay, a bitcoin payment service provider based in the United States, Sonny Singh said yesterday Bloomberg .
"Right now the market is looking for a decisive moment – a catalyst, you're hearing a lot of voices right now, but next year you'll see the big competitors coming true – Goldman Sachs launches a trading desk, Fidelity launches a bitcoin product, Square offers bitcoin processing for merchants, BlackRock offers an ETF.When these things start to happen you'll see a little adoption and then the price will bounce back. "
Bitcoin and the cryptocurrency world This summer they were seized by speculation that the US regulator will approve a fund traded on the bitcoin exchange (ETF), which would allow retail investors and traders who would prefer not to trade special bitcoins, able to buy digital coins.
The US Securities and Exchange Commission (SEC) is currently considering whether to approve a requested bitcoin ETF sent via the Chicago Board of Exchange (CBOE) from New York's VanEck and the SolidX blockchain platform – with a decision expected sometime this month .
However, some influential voices in the world of bitcoins and cryptocurrencies have claimed that a bitcoin ETF be harmful to long-term bitcoin, supporting the use and adoption of the real world beyond trade and price speculation.
However, a new injection of investments will probably mean the price of bitcoin
Singh also took the opportunity to talk about the original cryptocurrency, bitcoin.
"When you see the drop in bitcoin prices, people have stopped trading ICO as much as they were." The ICO market is in a lot of trouble and will never return to where it was eight months ago. We've never been more bullish [on bitcoin] Where the problem is, it's the altcoins, "Singh said. "Those will never come back, the way Bitcoin will return, Bitcoin will be re-engaged next year"
"You do not see BlackRock launching an altcoin product, Bitcoin is the leader in space," Singh added.
Bitpay's sonny singh expects bitcoin to go well next year, but is down from the broader ITCO and digital token industry. Bloomberg
Elsewhere, many of the bitcoin and cryptocurrency believers hope that November will increase the price of bitcoins, given that the parent company of the New York Stock Exchange, Intercontinental Exchange (ICE), launches a form of ETF bitcoin .
In July, ICE revealed that it was launching a bitcoin and cryptocurrency platform called & nbsp; Bakkt & nbsp; in collaboration with the Starbucks coffee chain, the software giant Microsoft, and the Boston Consulting Group, causing speculation that Starbucks could start accepting bitcoins as payment (something that the global coffee giant was quick to nix).
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A visual representation of the Bitcoin digital currency sinks into the water on August 15, 2018 in London, England.The other digital currencies, including bitcoin, (etereum BTC), (ETH) ripple (XRP) and star (XLM) saw a dramatic decline in their prices in 2018 amid a mass sale.In December 2017, the price of BTC reached $ 20,000, but has since fallen to around $ 6,000. (Photo by Dan Kitwood / Getty Images)
Bitcoin, like most other major cryptocurrencies, had a tough time in 2018. Bitcoin's price fell from its $ 19,000 highs last year to around $ 6,000 – dragging the likes of ethereum, ripple, star and lite coin with it.
The entire digital coin market, including everything from bitcoin and ethereum, to dogecoin and ripple, has fallen to its lowest value since the end in 2017, touching the lows of 186 billion year by year of dollars, according to CoinMarketCap data.
Bitcoin held up better than most, even though it still lost about 60% of its value only this year. Ethereum fell by 86%, while Ripple lost 92% from the January highs.
Many in the industry have been talking about bitcoins recently, warning about the future of the so-called altcoin and the initial money market (ICO), suggesting that much of the institutional money that speculators expect to enter the cryptocurrency sector end will be pushed in the direction of bitcoin.
The market capitalization of all cryptocurrencies has been steadily declining this year, although bitcoin outperformed the broader market [ CoinMarketCap
"It's hard to say [if the wider cryptocurrency market has reached a bottom]," chief commercial officer of BitPay, a bitcoin payment service provider based in the United States, Sonny Singh told Bloomberg yesterday.
"Right now the market is trying to define momentum – a catalyst, you're hearing a lot of voices right now, but next year you'll see the talk that big competitors will become real – Goldman Sachs launching a trading desk , Fidelity is a bitcoin product, Square offers bitcoin processing for traders, BlackRock offers an ETF, and when these things start to happen you'll see a bit of adoption and then the price will rebound again. "
The bitcoin and the world cryptocurrency were caught this summer by speculation that the US regulator will approve a fund traded in bitcoin exchange (ETF), which would allow retail investors and traders who would prefer not to trade special bitcoin exchanges, able to buy in digital coins.
The US Securities and Exchange Commission (SEC) is currently evaluating whether to approve a request for ETC bitcoins presented through the Chicago Board of Exchange (CBOE) of VanEck in New York and the SolidX blockchain platform – with a planned decision time this month.
However, some influential voices in the world of bitcoins and cryptocurrencies have claimed that a bitcoin ETF will be bad for long-term bitcoin, supporting the use and adoption of the real world beyond negotiation and speculation on prices.
However, a new injection of investment will likely mean bitcoin price moves after months of stagnation.
Singh also took the opportunity to talk about the original cryptocurrency, bitcoin.
"When you see the fall in bitcoin prices, people have stopped trading ICOs as much as they were.The ICO market is in a lot of trouble and will never return where it was eight months ago. BitPay, we've never been more bullish [on bitcoin]where the problem is, it's the altcoins, "Singh said." Those will never come back, bitcoins will come back in. Bitcoin will be re-engaged next year. . "
" You do not see BlackRock launching an altcoin product, Bitcoin is the leader in space, "added Singh.
Sonny Singh of Bitpay expects the bitcoin to go well next year, but is lagging behind the entire ITCO and digital token sector. Bloomberg
Elsewhere, many of the bitcoins and the believers of cryptocurrency are hoping that November will bring a price boost to bitcoins, given that the parent company of the New York Stock Exchange, Intercontinental Exchange (ICE), is launching a bitcoin form ETF.
In July, ICE revealed that it was launching a bitcoin and cryptocurrency platform called Bakkt in collaboration with the Starbucks coffee chain, the software giant Microsoft, and the Boston Consulting Group, provoking speculation that Starbucks could start accepting bitcoins as payment (something that the world coffee giant was fast nix).
