The value of bitcoin dropped $ 3800 and caused an overall loss of $ 163 billion among users, bitcoin, fraud fraud?


Bitcoin, a cryptographic currency, has decreased in value and for some it will not stop. Valoris is currently $ 3,852, bitcoin is very far from the increase in finance in 2017 which makes it a big attraction for investors. In fact, at the beginning of 2017, this cryptographic currency was valued at $ 1,000. A few months later and more precisely in May 2017, the value of this currency spent 2,000 dollars. In August, the $ 4,000 mark was crossed and in October, the virtual currency reached 5,000 and 6,000 dollars. Although the bitcoin growth index compared to its original value is already high, it is far from a suspicion that the coming months will be more attractive for this currency. In November 2017, the value of the cryptographic currency has increased to $ 8,000 and $ 10,000. in mid-December 2017, the bitcoin course broke all records by reaching a value of $ 20,000.

This extraordinary growth in 2017 has had the effect of attracting many people who sometimes invest enough financial resources to take advantage of the benefits that this currency can bring. It should be noted that many projects have developed in the same period with the opportunity to invest in these projects based on Bitcoin technology to reap profits later when these projects will bear fruit.

However, the increase in the bitcoin mark in 2017 cannot be stopped in 2018 and in February 2018, which is 2 months after reaching a peak of $ 20,000, the value of the currency begins to show signs of slowing down. From $ 20,000 in December 2017, we spent $ 6,000 in February 2018. This decline continued in the following months and currently the value of bitcoin is negotiated around $ 3850 according to CoinMarketCap data, a market capitalization platform for cryptographic currencies. For those who have invested their money before 1st January 2017, the fall can still be held.

But for many users who have plunged into this new financial adventure when the currency has reached high scores in 2017 during its rise, the latest developments in the cryptocurrency program will certainly leave a very bitter taste. Comparing the current value with what was done two weeks ago is almost 40% down. And compared to the peak of 20,078 dollars on December 17, 2017, this shows a decline in value of around 80%.

For some people, Bitcoin, a peer-to-peer payment system, looks like a pretty bubble that is being drawn. For others, it says a little using the word bubble. On the contrary, it is an extraordinary fraud where people have paid a lot of money for billions of dollars to get a basically useless numerical entity whose price is then valued.

To better show that the market capitalization of bitcoin is fraud, its critics argue that we must understand the valuation mechanism. According to CoinMarketCap statistics, there are currently 2074 cryptographic coins circulating in 1926 last September and 1400 at the beginning of the year. This cryptocurrency is multiplying for months attracting new investors with ICO (Initial Coin Offerings or cryptocurrency) or other methods and continues to add new coins to the platform through mining. To determine the market capitalization of each cryptographic currency made, multiply the current number of coins at the current price. In addition, because new parts are made permanently through mining, this also creates new market capitalization when prices are stable, which helps to cover part of the damage.

At 1st As of January 2018, the market capitalization of all bitcoin cryptographic currencies is $ 229 billion. At present, this capitalization is $ 66 billion, so $ 163 billion becomes smoke. Overnight, people with bitcoin worth $ 20,000 ended up with bitcoin worth less than $ 4,000.

For some users, bitcoin is too risky to be a long-term safe haven, to make current transactions or even to speculate. The canonization of transactions and the decentralization of exchanges that make it strong is no longer an adequate argument to invest in it. Others prefer to switch to gold, because this precious metal does not rust on time, unlike bitcoin which can make your eyes flush depending on the situation. Others, on the other hand, prefer to settle for traditional currencies and attend different episodes of this currency.

But for others, it's only a matter of time before the value of bitcoin will grow again.

Source: Wolf Street

And you?

What do you think about this bitcoin downgrade?

Do you think it is only temporary and that financial incentives will occur in the future?

Or do you think this decline only shows laramque dguise of fingertips by some people?

See too

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After China, South Korea banned fundraising in cryptocurrency and promised severe penalties for violators


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