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As you may have seen, this afternoon the cryptocurrency markets have suffered a sharp decline, with the prices of the main bitcoin and Ethereum cryptocurrencies declining by 11% and 14%, respectively, in the last 24 hours. We have included comments on the subject of several experts on cryptocurrency and blockchain below on the forces that could drive the current downturn.
Mati Greenspan, senior market analyst, eToro:
"Three major factors are contributing to today's decline Bitcoin price.
"Before the Bitcoin The rigid cash fork is proving an arms race bitcoin miners. It may not have a direct impact on price, but it's something people are worried about – there's the fear that miners can divert mining power from bitcoin in Bitcoin Cash. On paper, however, bitcoin has a hash frequency more than enough to keep their transaction rate.
"Another contributing factor is the selloff in technology stocks, which could have a knock-on effect on the encrypted markets.
"Finally, from the point of view of technical analysis, such as bitcoinThe price drops below $ 6,000, we are witnessing the liquidation: stop loss orders come into force automatically and / or people trying to play the breakout. "
Ken Lang, CTO of COSIMO Ventures and early collective ndau:
"A major factor in falling prices is that bitcoin it has no monetary policy in place to mitigate downward volatility. This means that when the demand contracts, there must be a process for contract sourcing. Otherwise, market prices will decrease, as we saw today. Since cryptocurrencies become more sophisticated and learn from the volatility and risk of older and more established coins, they should be designed taking into account the constraints that help combat sudden price drops like this. "
Marshall Hayner, founder of Metal Pay:
"To put it plainly, today's decline is probably indicative of the fact that the latest series of cryptographic speculators is capitulating, thanks to short-term expectations revisions that challenge the idea of a bull run within the end of the year, many will probably remove their chips from the table.A fundamental aspect of this recent decline is the continuing need for encryption of liquidity, which will probably be found in the future stages of industry maturation, hopefully in the form of adoption by retail consumers in their daily activities ".
[REITs]Q3 letters of hedge funds, conferences, palettes, etc.
Ken Lang, COSIMO Ventures CTO and soon collective ndau member
"A major factor in falling prices is that bitcoin does not have a monetary policy in place to mitigate downward volatility, which means that when demand shrinks, there must be a process for contract sourcing. Market prices will decrease, as we have seen today.As the cryptocurrencies become more sophisticated and learn from the volatility and risks of older and more established coins, they should be designed taking into account the constraints that help combat sudden price drops like this. "
Casey Kuhlman, CEO of Industrie Monax:
"Crypto price slump can often create misconceptions about the future of our industry, but perhaps what is most important to remember in times of volatility is that the underlying blockchain technology solves real-world problems in the real economy. encryption can increase and decrease for reasons difficult to identify, however the blockchain industry will remain strong and will continue to grow ".
Donald Bullers, North American representative for Elastos:
"Price volatility is not unusual in the cryptic landscape – however, today's drop is significant enough to push industry players to stop and take stock of the reasons it is safe to say that the upcoming hard fork of Bitcoin Cash has raised uncertainty among cryptic investors and that meteorologists from all cryptic and traditional markets have predicted a prolonged bear market until 2019. Cryptic investors have proven to be very responsive to changes across the landscape, and this immersion could be the most recent case study of that phenomenon ".
Frank Wagner, CEO of INVAO:
"Price volatility in the encrypted market is not new, from the highs seen at the end of 2017 to the most recent crisis – these price changes can often seem drastic, especially for traditional investors, however, this impression of instability is largely caused by the fact that the crypto world operates at such a high rate compared to traditional finance, everything that happens in traditional finance can happen in the cryptic world, but at a faster pace.The machinations of the market will continue to work and is widely expected that prices will level again in the near future. "
Rohit Kulkarni, CEO of Private Investment Research of SharesPost:
"Recent cryptocurrency trends reflect an amplified view of the broader macro volatility and uncertainty of crypto regulations Bitcoin has become a safe haven for long-term cryptotteri, while crypto speculators are jumping off the ship from ETH and XRP. there are three possible catalysts that could lead to a turnaround in the encrypted market over the next six months: there is more clarity from regulators that could encourage the market, a select group of startup blockchain that have completed token offerings in the market. Last year, they finally announced innovative commercial products: While smart money and institutional capital continue to accumulate, investors push the trigger and call the bottom of the market ".
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