Bitcoin Forum

Bitcoin Can Continue Dropping To A Level Of $5900

Onchain Capital co-founder Ran Neu Ner sure that the price of the first cryptocurrency will likely fall to $ 5,900. According to him, the drop in crytpocurrency price has not at all connected with the recent hacks of cryptocurrency exchanges. This, Ner thinks, is like saying that the robbery of a bank entails problems with the US dollar.

The main reason for the drop in the price of bitcoin is insufficient demand for this cryptocurrency, which fulfills the functions of "digital gold" Ner says.
Also, the analyst sure that short-term highs and drops in cryptocurrency prices don't worry those who really believe in the ability of blockchain technology to penetrate all business sectors.
"If bitcoin price reaches 20, 40 or 80 thousand dollars within a few years, then no one will be worried about whether bitcoin was bought for $ 6000 or $ 6500. Only day traders working on a scale of less than a year should be bothered by the current drop in the market price, "said Ran Neu Ner..https://en.bit.news/bitcoin-can-continue-falling-level-5900/

It seems to me that the problem is not only in demand. The use of bitcoin is very limited now. We have very few opportunities to spend our bitcoins in stores. For this reason the price of bitcoin is dictated by the exchange. Now there is dominated by whales and they artificially reduce prices to buy cheap coins. Trading volumes on exchanges are falling and this becomes a problem for them. I think that soon exchanges will begin to protect themselves from whales.

"Robbing a bank might cause problems to the US dollar."That`s a pretty good comparison. ;D
This guy explains exactly how I think about the current cryptocurrency market situation.There`s no reason to get worried about the price.The only sad thing is that no big companies accept bitcoin as a payment method,even though there are no problems with slow confirmation time and high fees.Now is the best time for online businesses to adopt btc.

There are many places who accept Bitcoin but people are hesitant to pay with BTC these days and that's understandable. If you buy something with $100 worth of BTC now, it is most likely that several months later  you'll find out that you actually paid $400 for that thing.



Why would they do that? The higher the trading volume the better for the exchange. So they are interested in attracting whales, not in blocking them. Also exchanges don't care about price going up or down and no way they "dictate" prices.

This is indeed the best time for adoption yet fees is almost free on the current state but as we all know if lots of transactions sooner or later fees would still go way ahead into those days where we do see on december situation therefore its still just the same where companies would still have the same impressions when they do know about bitcoin on the very first place. Lots of speculation been circling around on whats happening but this thing being mentioned on op is somehow convinces me.