Bitcoin prices fall: bitcoins will cost $ 3k – The rise of Bitcoin and cryptocurrency is over? | City and business | Finance


Bitcoin started this year at a maximum of $ 14,112 (£ 10,745) and peaked at $ 19,535 (£ 14,874) on December 17.

However, since the start of the year, it has suffered a significant loss and is currently trading at $ 6,265 (£ 4,768) on Tuesday, according to the CoinMarketCap industrial site.

Bitcoin is down 3% on a 24-hour basis.

The cryptocurrency has lost 50% of its value from the beginning of 2018 and 60% of its value since the December high.

Business Insider recently reported that Goldman Sachs was planning to suspend a crypto trading desk. Bitcoin lost 5% and the top five cryptocurrencies by market capitalization fell by more than 12 percent.

However, the news was contested by Goldman Sach's CFO Martin Chavez who described the reports as "false news".

Items according to which the investment bank was creating an encryption to make markets in digital currency, like bitcoin, I have been in circulation since December 2017.

Regardless of whether the news was true or not, the rate of Bitcoin exchange rate against the dollar fell 6% to $ 6,934 during Wednesday's trading when news emerged.

But will cryptocurrency probably fall even further? These industry experts give their opinion on the unstable currency.

The rise of Bitcoin and cryptocurrency is over?

Kevin Murcko, CEO of the CoinMetro cryptographic exchange, said he does not expect Bitcoin to fall below $ 3,000 because its price depends on the cost of Bitcoin extraction.

He said: "Mining involves a cost, and large-scale miners will not sell below that cost.

" Bitcoin mining is currently profitable up to a price of about $ 3,000. for Bitcoin, that price represents an approximate fund of the market. "

Mr. Murcko said that for the cryptocurrency of experiencing a peak, there must be more cases in the real world of businesses and people using the underlying asset.

Erica Stanford, co- founder of CryptoCurrencySimplified, he told "It is unlikely to fall further. Bitcoin is going down since January. Many people have already sold.

"The institutions have had every opportunity to lower the price even further if they want to crash Bitcoin even more.

" There was a strong support at around $ 5800 – every time Bitcoin went under $ 6000, has been reported directly. "

Mike Rymanov, CEO of the Digital Securities Exchange (DSX) told that the market will quickly recover from the news of Goldman Sachs and said it will serve as" a call for clearer and more stringent regulation " . "

He added:" In the coming months, I predict that we will see the market continue to attract more professional players who will then lead to much more civilized market conditions, and in my opinion, there is still a real chance of reaching £ 10,000 by the end of the year

"In addition, we expect other financial institutions to continue looking for ways to provide robust custody solutions for cryptocurrencies.

" Once they come into play, those investors who are currently skeptical or having security concerns will be able to invest securely.

"In the medium to long term, this will add to the steadily rising trend as we head towards £ 20,000, however when, and if, we get to that point it is difficult to predict."

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