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BTC price sharp drop down after reaching the level of nearly 3000 USD for one BTC

19/06/2017 00:00
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The beginning of last week has become notable by the fact that the price of 1 BTC has reached the level of nearly 3000 USD. Such growth has been followed by a sharp price drop till the level of 2700 USD. Afterwards the price has stabilized a little bit and regained its growth a little bit. Some exchanges have the BTC price growing over 3000 USD. The price of 2980 USD at “Bitstamp” exchange has been the highest price of last week. Next fall has turned out to be rather unexpected one and reminded an attempt to make huge money from nothing.

BTC price fluctuation and Ethereum popularity growth

The matter of ETH  market capitalization and the possibility of its market capitalization to become more than the one of BTC has been another important topic discussed last week at cryptocurrency users society. The Ethereum is in rather advantageous position from the market price point of view. The price of this cryptocurrrency at most stock exchanges varies from 300 to 420 USD. Such price fluctuations have driven to the fact when 78 percents of participants have suddenly turned their interest to Ethereum. Industry experts call such event “flippening” mean8ng the shift from one currency to another. Such even has caused an overdraft of trading volumes, mining rewards and daily transactions volume related to this cryptocurrency. Market share of Ethereum which is among one of the 870 existing cryptocurrencies makes thirty two percents. Market share of Bitcoin is equal to forty percents.

The chart data from “Bitstamp” exchange confirms the attempts of Bitcoin price stabilization and increase of demand to this digital currency. It is considered to be positive dynamics and backgrounds to this digital currency further price growth. Most experts say about the increase of Bitcoin price growth and the growth of popularity of Ethereum as main counterpart currency to Bitcoin. Despite some Bitcoin price drop downs everyone is sure about Bitcoin price further growth and price exceeding the level of 3000USD and its further growth. The increase of Ethereum popularity, the increase of price and market share percent is taken in account as well.

Speculation is the main reason of popularity. Or it is all about hackers?

On the other hands the experts in stock exchange and alternative financial instruments name speculation to be the main reason of BTC price sharp fluctuations. Another reason of this digital currency optimistic forecast lies at its official approval of this currency by Japanese government by thus enabling more usage spheres of such cryptocurrency in Japan and other Asian countries. The latter have started to be characterized by extended usage of BTC when making foreign transfers from one country to another.

At the same time Bitcoins have become popular currency among hackers demanding ransom for hacked files restoring. Despite the fact that such situation doesn’t influence well to BTC overall reputation it confirms the fact of BTC growing popularity and its value increase. Though the specialists at alternative financial instruments keep reminding that Bitcoin price fluctuations didn’t end well for all people who invested money in it.

One way or another all the aforementioned reasons prompt Bitcoin popularity and demand grows despite the fact that some industry experts name speculation to be the main reason of it. That is why dreamers who are convinced that BTC price will grow on a long term basis should pay attention to expert assessment of this digital currency’s further perspectives. On the one hand such expectations might become true as all the value of all BTC which are now in circulation makes 45 billion USD. It is relatively small sum for the society where people invest tens of milliard in shares, stocks, bonds, loans, gold and other assets. In case if Bitcoin gets de-facto status of international money transfer mode such expectations might become true.

Another scenario is possible as well. Bitcoin can simply become the popular way of fiat currencies value provision. People use gold for jewelry and electronics manufacturing. They use BTC as a way of financial assets withdrawal from the control of controversial financial institutions. Despite its rather young age this cryptocurrency has significant advantage it is easy to be stored and can be sent to any part of the world by one simple click.

Any way the principle to make thorough checking before making investments always works when you are making attempts to increase your savings or become rich at a glance. Investment professionals have always mentioned the necessity to learn all advantages and disadvantages of cryptocurrencies, check other investors reviews and opinions of this sphere professionals.

Our portal will help you in surfing this bunch of information about investment options and find the best option for your savings investment.

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