REVEALED: Reason Bitcoin cryptocurrency is STRUGGLING in January! #adil041
Gavin Brown from Manchester Metropolitan
University declared the South Korea and
China to areas where Bitcoin is
incredibly popular could be a reason! for
the sharp decline in market value for
Bitcoin in January mr. Brown added that
Bitcoin owners in the region could be
selling off the prized coins to make a
for tune to spend on celebrations to
mark the event Bitcoin is no stranger to
seeing a sharp decline in the month of
January last year the currency rose by
only 0.5 one percent while 2016 and 2015
saw decreases of 12 point seven percent
and twenty seven point three percent
respectively
the claims from mr. Brown hinder thee
fall in value could be temporary iqbal
random from the crypto currency exchange
eToro agreed that the January slump for
the virtual currency seems like a
short-term blip
he explained 2018 has so far been
defined by regulatory uncertainty in the
far east causing even more volatility
than usual however investors seem to be
getting confident that we've reached a
secure entry point and are comfortable
buying again in the grand scheme of
things this seems like a short-term blip
South Korea's clamped down of Bitcoin
has been a significant factor in its
sharp value decline yesterday the
country demanded that the veil of
secrecy surrounding Bitcoin transactions
be removed as the government planned to
only allow accounts where their uses
real name to be used in transactions the
plan would make sure local banks only
allow accounts headed by the users real
name when they are making cryptocurrency
transactions
real names will have to be used starting
from January 30th mean wild the head of
investment strategy at Barclays will
Hobbs labeled Bitcoin elusive as he
claimed
that putting money into the virtual
currency is more of a bet than an
investment he explained in a sense until
you can detect a positive intrinsic
value for Bitcoin something which
remains elusive until it can find a role
for itself in the economy bitcoin is not
so much an investment as a bet
the Barclays boss stated that the
volatility of Bitcoin means it is
unlikely to be used as a mainstream
currency after its value dropped lower
than 7000 190 pounds $10,000 last week
he went on the outsized volatility of
Bitcoin still makes it unlikely to be a
stable store of value a medium of
transaction anytime soon both of which
our important traits of mainstream
currencies for private clients the
volatility is still a multiple of what
most would be comfortable within a
portfolio context all the same it
remains difficult to see when it will
subside into something a little less
hair-raising Bitcoin has seen a 50
percent drop from me
extraordinary highs it reached at the
end of last year the incredible rise saw
an unprecedented spike in the popularity
of virtual currencies.
If you like this post do not forget to upvote.