Affected by the “hard fork” and other factors, the value of bitcoin continues to shrink, since the 11 month has three degrees collapse. Especially in November 25th, bitcoin again diving, inscribed in a day even below $4200, $4100, $3900…… 3500 $12 month highs last year, compared to the nearly 2 million dollars, the decline has been more than 80%. Is bitcoin driven, the virtual currency market is also out of the slump. In less than a year’s time, what bitcoin really happened, the future will be where to go?
Perhaps the beginning of collapse
Since 2018, bitcoin prices continued to decline, more recently staged a “big diving”. According to the current price of bitcoin last December peak of $19666 fell more than 80%, Bloomberg expects bitcoin will continue to fall to $1500 level.
For the crash of virtual currency, and many analysts believe that bitcoin cash (BCH) “hard branch”.
This is one of the bifurcation of currency bitcoin bitcoin, and aims to solve the problem of low efficiency in trading for bitcoin block small capacity. In 2017 August, in a number of technical personnel, large miners and bitcoin holders under the support of bitcoin cash currency bitcoin emerged as bifurcation.
This year 11 month 15 day, bitcoin cash again and again “hard branch”. Although with which an algorithm bifurcation is uncertain, but each bifurcation once, will lead to the scarcity of variation. Therefore, the second “hard fork” once again sparked fears that the existing bitcoin value will be diluted.
But industry insiders believe that bitcoin crash is the result of many factors together, and regulatory upgrades will continue to put pressure on the currency currency bifurcation. It is reported that the global regulators are also the layout of digital currency management system. According to the relevant provisions of the people’s Bank of Chinese, bitcoin is not issued by the monetary authorities do not have the law, such as monetary compensation of the mandatory property, not the true meaning of money. From the nature point of view, bitcoin is a specific virtual goods, does not have legal status and monetary equivalent, can not and should not be used as currency in circulation in the market. In recent years, some people under the banner of “financial innovation” and “blockchain” banner, through the issuance of the so-called “virtual currency” “virtual assets” and “digital assets” to absorb funds, against the public interests.
Therefore, China people’s Bank and other seven departments have stopped posting all kinds of tokens issued to finance, and to remind the public rational view of block chains, establish a correct concept of money and investment philosophy; Hongkong Securities Regulatory Commission announced on November that it plans to fund digital currency exchange and digital assets investment regulation is to protect investors in Japan in 2017; provisions, bitcoin and offbeat currency exchange must accept the FSA’s supervision; the SEC in this year will be the digital currency exchange into their terms of reference. In November, two in 2017 through the sale of ICO encryption currency companies by U.S. regulators ordered to return funds to investors, because it has no ICO registered as securities.
About the collapse of bitcoin virtual currency led, many analysts generally believe that the main or early speculation, bitcoin virtual currency to the top of the bubble. Currently bitcoin in a bear market, not good still can not support the current price. Bitcoin itself is unable to generate revenue, if there is no successor, selling stock market will be a persistent behavior, that is to say bitcoin prices will continue downward, and far in the end.
As a leader in digital currency bitcoin, a feather, aether square, reboxetine currency and other digital currencies also suffered collapse. The industry believes that digital currency is inevitable trends of its existence, but soaring bitcoin is irrational, the collapse may also start, post bubble market will become more rational.
Bitcoin how to live”
After the slump, bitcoin will disappear? This industry is controversial.
Some people are still firmly followers of bitcoin, with many small scattered. In their eyes, the total bitcoin by 21 million, showing the characteristics of local hedge assets in the international form of turmoil, a so called digital gold”.
Dean Xiao Lei 500 Gold Investment Research Institute said, bitcoin’s history is short, need longer time to establish the attribute consensus consensus mechanism with gold thousands of years to form can not be compared.
At the end of last year, the Chicago Board Options Exchange and Chicago Commodity Exchange issued bitcoin futures, the industry expect financial institutions to take large sums of money into the market, support prices, but now it seems the degree of participation is still limited.
Another part of people continued bearish. Some of the famous bitcoin and the history of the tulip bubble. With a view on the computer “meaningless numbers”, bitcoin has died a day sooner or later, now the bubble was punctured.
Chinese blockchain Application Research Center Director Guo Yuhang said, bitcoin in the short term does not have the demise of the foundation, but with the continuous research and policy of the national regulatory authorities to tighten regulatory arbitrage space further narrowing.
Although bitcoin survival or not is still controversial, but the industry generally have high hopes of block chain technology. Block chain and bitcoin was born at the same time, the original bitcoin exists as the underlying technology. Fire currency founder Li Lin believes that as a point to the underlying technology in the future, the block chain and the real economy with great potential, notarization and arbitration, have a brilliant future in the tax registration, donation and other wide economic and social fields.
In addition, the Shenzhen people a bit close to the regulators said to the media, digital currency on behalf of the future direction of currency. But the digital currency must have the legal status of national sovereignty endorsement, clear responsibility of the main issue. To make a clear distinction between the legal “digital currency” and “digital tokens” or virtual currency, to study and formulate the legal digital currency issuance system, the correct direction of development of digital financial health.
Block chain is not equal to bitcoin.” Guo Yuhang called a block chain industry should explore the precise point of pain, good floor applications, achieve significantly lowering the efficiency, it may become a new generation of information infrastructure. “
(self: Xinhua news agency, Shenzhen daily, securities times, chinanews.com reported, twenty-first Century)