Sunday, February 11, 2018

Bitcoin, how far could it be ? :


Nowadays, commercialization in the form of cryptocurrency is gaining more and more space that goes hand in hand with the technological evolution of the means used. Most of these cryptocurrencies, like the first five that lead the way: Bitcoin, Ethereum, Ripple, Bitcoin cash and Cardano are hit by speculation crises. Speaking of Bitcoin, just recently, it has already lost a value of 32% compared to its original value.

Bitcoin, a central player in several markets
The CEO of Fintech Ibanfirst in the person of Pierre-Antoine stated that one can not avoid a lower fall of Bitcoin but it limits this fall to a value of 1000 dollars because of its importance in several markets. Indeed, many organizations have trusted Bitcoin in their project. He pointed out that about a year and a half ago, buying cryptocurrency was not an option for everyone, unlike today, it is easy to buy because of its exchange rate which ceases to vary.

China's position vis-à-vis cryptocurrencies
Bitcoin would probably see its lower values ​​lowered in the event that China blocks its transactions on various foreign platforms or that Bitfinex finds itself in an extreme position where it should close down. The first theory of Philippe Herlin, an economist and crypto-enthusiast has indeed confirmed, because since Sunday, February 4, the People's Bank of China has posted an announcement prohibiting any exchange on these cryptocurrency platforms or on any which ICO site. This action would probably affect the value of Bitcoin.

Will Bitcoin succeed in going up the slope?
The economist Philippe Herlin says that Bitcoin will certainly regain its original values ​​in a few months. It is true that it was outpaced for payments because of a high cost due to the technical problem of the network, nevertheless the existence of lightning network allowed several payments to be made for a cost to a value minimal.
Speaking of the blockchain, it loses ground as 90% of the ICO are on Ethereum. Fortunately for him, its cost is comparable to other platforms. Also, the existence of RSK is in the process of rocking things. This start-up generates "smart contracts" for Bitcoin.
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