The growing copycat coins, damage to the bitcoin price (Bitcoin)

Reprinted from 100 Author: I am plus Kunming

Bitcoin (BTC), a kind of encryption currency, although in the bear market of 2018, comprehensive encryption currency prices fell more than 90%, but compared to the original encryption currency, interest in monetary general rise in copycat. Although bitcoin is still a huge advantage (as of this writing, bitcoin market capitalization ranked second ETH $51 billion) holds the first position, but the dominant position of bitcoin in the past 6 months have been weakened. In January 2017, the dominant position of BTC close to the peak, the market share of more than 85%. A year later, after the price boom encryption in early 2018, the dominant position of bitcoin had slipped to 38%, when many analysts predict that bitcoin status will shake. On the contrary, the market collapsed, bitcoin prices fell by the impact of bitcoin market share in the slow growth.

However, in the past 4 months, bitcoin influence on the market again weakened, investors and developers are looking to re stimulate people to project a crypto currency interest. According to the Federal Reserve Bank of Saint Louis (Federal Reserve Bank of St. Louis) research report published in January 11th, the number of alternative currency competition development and market interest increases, had a significant impact on bitcoin valuation. The report will bitcoin prospects for the industry is divided into two main points, the future valuation of two views bitcoin hold the opposite opinion. Call for bitcoin people, their belief that bitcoin limited supply and deflation properties, they believe that in the long run, bitcoin will inevitably rise, as compared to the dwindling supply demand, bitcoin will increase. On the other hand, the bears think bitcoin interest in niche market reached its peak, now destined to be slowly reduced to zero. The report acknowledges that a more realistic standpoint, that is the future of BTC may be between “doing nothing” and be not worth a hair.

However, most studies are centered on how to 2017 to 2018 growing altcoin market affect the price of bitcoin, eventually found potential valuation bitcoin really hampered. And see bitcoin investors (they think bitcoin market dominance will continue, so the price of bitcoin will be with the overall market growth and rising) compared to the Saint Louis group is different.

Increase the money supply and the copycat valuations relative to the market does not continue to rise, but reduce the price of bitcoin and bitcoin market value growth caused widespread restrictions, “Although bitcoin prices are unlikely to fall to zero, but a large number of Altcoin in wealth investment portfolio investors with bitcoin competition prospects may constitute a significant downward pressure on the currency, including all the encryption of the purchasing power of money.” Translation: Kunming plus

Source: ethereumworldnews

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