[ad_1]
The price of Bitcoin cryptocurrency continued to drop this week, falling to a low of $ 5,806 per coin on Thursday. In early March, the virtual currency was sold at more than $ 11,000 per room, but the downward trajectory remained at around $ 5,900 on Friday. This is a dramatic fall in popularity for the Internet money, which has sold for more than $ 19,000 by the end of 2017.
Ran Neuner, the founder from a blockchain company that predicted the price of bitcoin would fall to $ 5,900 earlier This month, told CNBC this week that his models suggest that the fall is far from over. to be finished.
"Unfortunately, the same model that told us that we would go to $ 5,900 to come," said Neuner, who heads the company's technology company Onchain. "[The model] calls a probability of 62% of a bear market, and a bear market means that we are going to test $ 5,350 as next point," he added, claiming that the accident occurred will continue over the next two weeks.
![Bitcoin [19659005] A representation of the digital Cryptocurrency, Bitcoin alongside US Dollars on December 07, 2017 in London, England. The price has dropped to less than $ 6,000 this week, and an expert says it could get worse. </span> <span class=](http://s.newsweek.com/sites/www.newsweek.com/files/styles/embed-lg/public/2018/06/29/bitcoin.jpg)
Dan Kitwood / Getty Images
Neuner affirmed, "At this moment, my money continues to fall on the market."
Online, the cryptocurrency community seems conflictual. For some investors, the low price of bitcoin is considered a chance to buy. Others, scared by the numbers, are selling their assets urgently. Neuner said that the position of an individual will depend on his motives for buying crypto
See all best photos of the week in these slideshows
"It depends on your time horizon, "he explained. "If you understand technology and you are a bull, now is the time to buy." We know that there were 27,000 startups in 2017. In the first six months of 2018, there were 28,000 blockchain startups. There is a huge venture capital scene, the blockchain is progressing [so] this thing is not going away. If you do day trading, I'll call $ 5,350 next week or two, so you could possibly take a short position and there will probably be 10%. "
Taking a" short stance "describes the process used by investors who are betting on a falling price, betting primarily against the market itself in an attempt at quick financial gains.Neuner said on Twitter that his predictive model uses artificial intelligence (AI) to predict prices.
According to CryptoCompare, a website that tracks cryptocurrency values in real time, other virtual coins including Ethereum, Ripple and Litecoin, all suffered a blow this week, to varying degrees.
The reasons for the fall of Bitcoin are difficult to articulate for analysts because the market remains unstable, but it is under increasing pressure from Regulators and major government agencies.Many economists, commentators and bank heads warned last year that high prices were Unasustainable
Initial coin offerings (ICO), similar to crowdfunding, have been heavily criticized by regulators. Elsewhere, cryptographic exchanges, used to buy and sell coins, have suffered major hacks in recent months.
Sam Woods, director of the Bank of England, wrote Thursday to banks, insurance companies and investment firms involved in crypto-assets.
"Crypto-asset-related product and market participants have grown rapidly and in their short history, crypto-assets have shown high price volatility and relative illiquidity," he writes.
"Crypto-assets also raise concerns about misconduct and the integrity of the market – many seem vulnerable to fraud and manipulation, money laundering and terrorist financing," he said. he added. "Entering the business related to crypto-assets can also give rise to reputational risks."
A similar warning was issued by SEC chairman Jay Clayton in December of this year. last year.
[ad_2]
Source link
Tags 39More Blood coming39 Cryptocurrency
