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According to The Business Insider, the document emphasizes that it is practically impossible to reason the real price of the most popular crypto currency at the moment.
The note contains Fawcett's answers to some questions related to Bitcoin. In particular, he points out that Bitcoin is not a currency in the full sense (there is no interest rate associated with it), cannot be a substitute for gold (the latter has an objective value based on industry and jewelry industry). The payment system in which Bitcoin is involved is difficult to expand to the entire economy.
In addition, the volume of trades in a day is thousands of times different from the volume of the Forex market. The same is true for the volume of transactions – it reaches $ 300 million a day for Bitcoin. For comparison, the Visa payment system processes $ 17 billion a day in total.
At the end of the last week before the Christmas holidays, the market of crypto currency was in a state of correction. At the height of the holiday, trade volumes significantly subsided, activity on the market was insignificant, even the video cards of miners cooled down. Nevertheless, already on December 25, it became clear that activity is returning, and the mood of investors is clearly not bad.
On the morning of Monday, Bitcoin on the Bitfinex Exchange was losing 0.07% and was trading at $ 13530, at GDAX - down 0.7% to $ 14150. According to the portal CoinMarketCap, Bitcoin fell in price by 1.73% compared to the previous close to $ 13,990, and Coindesk reported a fall of 0.35% to $ 13,930.
Nevertheless, Bitcoin added 8.5% later and reached around $ 14,300, Ethereum grew almost 20% to $ 770, Bitcoin Cash climbed 13.14% to $ 3,068, Zcash grew 17% to $ 552.
During the holidays, investors have had some time to assess the prospects of various crypto-currencies and make a purchasing decision. A similar situation was observed in the Thanksgiving Day, when Coinbase told about a massive increase in attendance. Now, the media are summarizing the results of the year, and the key symbols will definitely be the words "bitcoin", "crypto-currencies", "ICO".
source: businessinsider.com
The note contains Fawcett's answers to some questions related to Bitcoin. In particular, he points out that Bitcoin is not a currency in the full sense (there is no interest rate associated with it), cannot be a substitute for gold (the latter has an objective value based on industry and jewelry industry). The payment system in which Bitcoin is involved is difficult to expand to the entire economy.
In addition, the volume of trades in a day is thousands of times different from the volume of the Forex market. The same is true for the volume of transactions – it reaches $ 300 million a day for Bitcoin. For comparison, the Visa payment system processes $ 17 billion a day in total.
At the end of the last week before the Christmas holidays, the market of crypto currency was in a state of correction. At the height of the holiday, trade volumes significantly subsided, activity on the market was insignificant, even the video cards of miners cooled down. Nevertheless, already on December 25, it became clear that activity is returning, and the mood of investors is clearly not bad.
On the morning of Monday, Bitcoin on the Bitfinex Exchange was losing 0.07% and was trading at $ 13530, at GDAX - down 0.7% to $ 14150. According to the portal CoinMarketCap, Bitcoin fell in price by 1.73% compared to the previous close to $ 13,990, and Coindesk reported a fall of 0.35% to $ 13,930.
Nevertheless, Bitcoin added 8.5% later and reached around $ 14,300, Ethereum grew almost 20% to $ 770, Bitcoin Cash climbed 13.14% to $ 3,068, Zcash grew 17% to $ 552.
During the holidays, investors have had some time to assess the prospects of various crypto-currencies and make a purchasing decision. A similar situation was observed in the Thanksgiving Day, when Coinbase told about a massive increase in attendance. Now, the media are summarizing the results of the year, and the key symbols will definitely be the words "bitcoin", "crypto-currencies", "ICO".
source: businessinsider.com
