Recently, the price of other encryption currency bitcoin fell sharply, a number of experts and Wall Street insiders, because the market had serious speculation bitcoin futures market investors and the recent adjustment of capital market leading encryption currency fell sharply, bitcoin mining difficulty and costs will continue to adjust future bitcoin and block chain distinguish technology. At the same time, supervision of bitcoin is still necessary.
The United States bitcoin news network CoinDesk research director Nolan Bauer said, now the price of bitcoin is not so high, better.
He said, after the market speculation too, with bitcoin futures listed on Wall Street, investors do not see the bitcoin price short, bitcoin prices fell sharply.
The U.S. venture capital Refashiond co-founder Lisa Moore Armaflex – He Lebo believes that bitcoin will continue to grow, but it will need a unified standard. Unfortunately, due to a lack of supervision, resulting in speculation, bitcoin soaring.
Professor at University of California at Berkeley and a political and economic well-known economist Barry Esengreen said the day before, it is important to bitcoin and other encryption currency and block chain to distinguish, block chain technology has application value in the tracking of container transportation and mortgage bonds etc., can improve the efficiency, but with the bitcoin and other encryption encryption currency is completely different. Money has no intrinsic value, so the slump is not surprising.
Essen Green believes that the bitcoin system may collapse, the only reason to buy or sell bitcoin is blindly follow the trend.
Bauer said that after the bitcoin mining cost increased to $6500, while bitcoin prices have risen to around $20 thousand, the market is awash with speculation, from 2016 to 2017 on everyone to buy a new machine, including many Chinese, now the situation has changed. Bauer said that since the beginning of October, difficulty appears three consecutive decline, this is the first time in the history of bitcoin. However, the long run, reduce the difficulty of bitcoin may not be good.
The influence of bitcoin prices fell sharply, the Swiss Bank global wealth management department is responsible for American technology and communication services of securities Kevin Denning said that prices of crypto currency will not aim at the encryption of money market semiconductor manufacturers have a direct impact. Crypto currency prices will by the economic law of conduction down, when mining profit variation, the corresponding equipment needs to be reduced.
For regulators, the current bitcoin has not yet pose a major threat.
The fed in charge of supervision of vice chairman Randall Quarle said that due to the volatility of the currency and to pay in the encryption system, encryption is also not as useful monetary currency, Quarles does not think that encryption currency now pose a major threat to financial stability, the dollar is also not a threat.
Quarles said, obviously cryptocurrencies brings some problems, the extreme fluctuations of investor protection, anonymity is the problem of law enforcement, terrorist financing, various financial crimes are real problems, worthy of attention. The Federal Reserve, the US Securities and Exchange Commission and the U.S. Treasury had paid attention to related issues.
He Lebo believes that with the other currency into legal tender before, bitcoin is currently limited application, but will be subject to some degree of regulation.