Bitcoin falls freely, wafcoin goes up against the current

05:26
35
0

Bitcoin prices have fallen all the way, there's no lowest, only lower! How do we choose in the face of variety of cryptocurrencies?

From $17000 in the beginning of the year, to $7,000 in the middle of the year, and then to the latest $3,500, this yearbitcoin's trend: being cut in half and then being cut in half again.

At the end of 2017, Bitcoin once stood at a historical high of nearly $20,000. The situation changed dramatically during the year, and Bitcoin fell about 80%, which also dragged down a number of digital currencies.

For this encryption market, 1, the controversial bitcoin cash’s (BCH) hard fork, 2,strict regulation of bitcoin and digital currency from national regulatory agencies.

The BCH hard fork, which began on November 15th, was clearly the trigger for Bitcoin's round of decline. At that time, Bitcoin ABC, represented by Wu Jihan, the founder of Bitmain, and Bitcoin SV, represented by Craig Steven Wright, opened a battle for the mine overlord, which led to the sell-off of bitcoin, the price of the currency plunged.

By the end of November, Bitcoin was reported about $4,000, and fell nearly 37% in half a month. If it is stretched to a month, the decline is even greater, the biggest drop in bitcoin in a single month in seven years.

Now, analysts predict that Bitcoin may fall to $1,500, or 60% below its current levels.

According to reports, the "hash rate" representing Bitcoin's entire network computing power dropped sharply by about 30% in half a month. Statistics show that more than 1.3 million mainstream miners are shut down in this wave of drop of bitcoin.

In today's bear market, miners plan to move machines to places with lower electricity prices, such as overseas less developed countries. At the same time, the scale of the mine will also affect the electricity price negotiation. Large mines often get lower prices, so the competitiveness of small mines are weaker than that of large mines. In the current tide of shut-down, most of the first falls are small and medium-sized mines. The plummeting profits of the mining industry are also transmitted to the mining machine hardware market.

Under the bear market, tremble with fear, the degree of panic is evident: the data of Alternative.me shows that today's panic index is 15 (yesterday's 19), the degree of panic is increasing, and the current level of panic is extremely fearful.

In the past six months, as the blockchain industry has gone downhill, the encrypted digital currency market has entered a period of break point. The blockchain and encrypted digital currency have entered the winter of capital, which has caused many investors to suffer huge losses.

Great waves sweeping away sand, only those projects that insist on themselves and get through the winter are the ones worth the investors' investment. Adhering to quality and service, focusing on user experience, the Wafcoin trading platform stands out! Since its inception, Wafcoin Exchange has focused on becoming a convenient and secure blockchain digital asset trading platform. With the expansion of the platform, the Wafcoin trading platform focuses on the future development, the trading ecosystem, the PC end, and the mobile phone end multi-upgrade, and strives to create a public transparent exchange!

The bear market is coming, will the next bull market be far away?

RSS
No comments yet. Be the first to add a comment!
Loading...