Bitcoin is a bear market or will continue

Metropolis Daily News (reporter Xu Yu) in 2009, the first announced bitcoin exchange rate is $1 average exchange 1309.03 coins, to the highest point in 2017, bitcoin prices 8 years over about 20000000 times. However, from the beginning in late November this year, bitcoin continued to slump, the pressure in the $3400 level near the bottom, fell by more than 80%.

Just one year, the virtual currency market capitalisation trillion dollars. Once bitcoin fame, what happened? The future will decide on what path to follow?

By the fall of bitcoin, other mainstream encryption currency have also diving, a large number of investors and the miners suffered heavy losses. “I went into the bitcoin market less than a year, has now lost 200 thousand yuan.” Investors Mr. Chen told reporters. He took out all his savings, but also to the home of a few million, now all daleshuipiao. However, he still believes bitcoin market is not continued, block chain is a direction in the future, a day sooner or later to pick up. He said his side there are still a lot of game player investment virtual currency, some still want to take advantage of this wave down the hunters.

A senior investors said that a large number of real material projects still exist, many people optimistic about the block chain, is willing to embrace the technology innovation. But in this industry, there are too many dragons and fishes jumbled together, uneven in quality, and the strength of the moth trap, most game player market clearing halt the troops and wait, wait.

The industry believes that the long term, bitcoin market is still fragile, the bear market will continue for a long period of time. The main reason for bitcoin rose several times before, but people recognize the value of bitcoin, there is a large influx of speculative factors. Because most of the public has been exposed to the concept of the block chain and bitcoin, the short term will not have a large influx of speculators caused by rising.

Leave a Reply

Your email address will not be published. Required fields are marked *