It seems like Bitcoin is getting its head out of the clouds. According to coinmarketcap, its price lost of about 29% during the week and equals now of about $14.000. Capitalization exponential growth turns out to be not quite coherent with the Bitcoin degree of integration into the real life. Undoubtedly, this fact is considered to be one of distinguishing peculiarities of so-called ‘bubble’. According to the majority of analytical forecasts, Bitcoin is to fall three times in 2018-2019, what thus will approximate its capitalization value to a more reasonable one.
Possible reasons of Bitcoin’s decline can be accumulated risks, connected with Bitcoin data storage difficulties in some systems as well as with increase in time and cost of its transactions. Investing in Bitcoin can rightly be called ‘extreme’, and cryptocurrency exchange infrastructure at first sight is struggling with recently established overload. From the other hand, such high volatility is generally very representative for cryptocurrency market, where the significant role is given to political game of main holders.
In addition to the ongoing informational attack towards Bitcoin in terms of Ministry of Finance of Japan and Monetary Authority of Singapore statements concerning its unreliability, there were other events contributing to the fall. Emil Oldenburg, co-founder of Bitcoin.com, declared that Bitcoin has no perspective as a trading currency and sold his holdings. Getting rid of Bitcoin, agents usually invest in its direct rivals, such as BCH.
Simultaneously with Bitcoin decline, one can see rapid growth of most altcoins’ rates. Index of dominance has dropped to approximately 50%. More technologically and informatively loaded, altcoins definitely can have a higher potential. What they really lack is mass accessibility. In order to become a mass instrument, altcoin is to provide an easier and clearer way of its generation.
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