Home / Blockchain / The fundamentals of Bitcoin "still intact" despite the low price, says Blockchain Intelligence Group

The fundamentals of Bitcoin "still intact" despite the low price, says Blockchain Intelligence Group

The decline in the prices of crypto-currencies in 2018 is the result of the "lack of education" of investors, "said the CEO of the Canadian company Blockchain Intelligence Group (BIG) in an interview published in the German business magazine Finanzen.de. November 23rd.

Speaking to a representative of the German investment bank GBC AG, BIG CEO Lance Morginn suggested the combination of entry-level investors that accumulate in 2017, regulatory uncertainty and the standard principles of supply and demand have led at the bear market in 2018.

"You combine all these factors together with the lack of understanding that the average individual has of the industry, and this is why he calculates cryptography and where he is today," said the CEO of the research company , analysis and risk management at publication.

Bitcoin (BTC) drove most cryptographic resources into a new downward spiral during the past week, losing about 30% to reach the lows that have not been seen for more than a year.

Many activities have worsened in the most recent incident that began on November 14, with Bitcoin Cash (BCH) having had separate problems with its recent hard fork, which contributed to its sharp decline, exceeding 50%.

The idea of ​​inexperienced investors who blindly enter the market during the bull run in late 2017 has become a popular fiction among the various commentators of this year, the expectation is that long-term holders will remain all if prices remain low long enough.

Morginn is one of those not affected by the recent crisis.

"The good news for BIG, however, is that as long as cryptography has a form of value and the criminal element could use it as a payment mechanism, our services are more than necessary for our customers, so this decline has not impact us in the long run, "he continued.

"The fundamentals of the industry are still intact."

A poll conducted by Ron Paul, former member of the American Congress of Bitcoin this week, saw tens of thousands of respondents choose Bitcoin on gold and fiat currency as a ten-year investment option.

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