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26. Februar 2018

What is happening to the Cryptomarket?

At this moment in time and the last few weeks the whole Cryptomarket has a tendency of sinking in value.

Why is that the case?

Why does it might change very soon?

What could be the reason to keep going down?

 

Why is that the case?

There are lots of news everyday about new regulations and adaption of cryptocurrencies and those keep the market in a nervous state. In reality those are all good news because governments and banks are finally taking the whole Cryptomarket serious. This should be one of the indicator of attracting more investors to the Cryptomarket. At the same time we have all indication from the technical trading side that we are still on a negative tendency. Bitcoin for example quite a few times has hit the indicator but always reversed to lower price. At the moment it would need a price of over $12’000 to have a good indication and certainty that there is a change happening to higher prices.

Why does it might change very soon?

At the same time we are having incredible news especially about bitcoin and how exchanges finally are adapting to Segwit as well as a always growing lightening network. This is already very much notable with faster transaction and finally back to the low transaction costs. Just a couple of months ago with bitcoin at all time high a bitcoin transaction was costing from $10! dollars upwards. Now the transaction costs are down again to cents… So form the technical part Bitcoin has moved on and is becoming better and stronger day by day. This makes it much more useful and reliable and should result in much higher interest and price.

What could be the reason to keep going down?

Why is there uncertainty about the real price of Bitcoin? When all indication are showing a green light but the market results in red light the question always is the same. Was the growth before to quick, to strong (Hipe)? Or is there something else behind it? And where will we be going in the next few weeks and months?

What we are analyzing at CryptoChain Consulting is the following. The price of Bitcoin had an increase from $1000 to almost $19’000 which is incredible but looking at the use and the overall value of Bitcoin we see the price much higher. At the all time High of Bitcoin the market value was at $329’111’433’855 this is still far away from the price bitcoin will have when 10%of GDP will be on Blockchain application by 2027. That is why new All Time Highs will be expected sooner or later!

 

 

 

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