REVEALED: Reason Bitcoin cryptocurrency is STRUGGLING in January! #adil041

in #crypto7 years ago

Gavin Brown from Manchester Metropolitan


University declared the South Korea and


China to areas where Bitcoin is


incredibly popular could be a reason! for


the sharp decline in market value for


Bitcoin in January mr. Brown added that


Bitcoin owners in the region could be


selling off the prized coins to make a


for tune to spend on celebrations to


mark the event Bitcoin is no stranger to


seeing a sharp decline in the month of


January last year the currency rose by


only 0.5 one percent while 2016 and 2015


saw decreases of 12 point seven percent


and twenty seven point three percent


respectively


the claims from mr. Brown hinder thee


fall in value could be temporary iqbal


random from the crypto currency exchange


eToro agreed that the January slump for


the virtual currency seems like a


short-term blip


he explained 2018 has so far been


defined by regulatory uncertainty in the


far east causing even more volatility


than usual however investors seem to be


getting confident that we've reached a


secure entry point and are comfortable


buying again in the grand scheme of


things this seems like a short-term blip


South Korea's clamped down of Bitcoin


has been a significant factor in its


sharp value decline yesterday the


country demanded that the veil of


secrecy surrounding Bitcoin transactions


be removed as the government planned to


only allow accounts where their uses


real name to be used in transactions the


plan would make sure local banks only


allow accounts headed by the users real


name when they are making cryptocurrency


transactions


real names will have to be used starting


from January 30th mean wild the head of


investment strategy at Barclays will


Hobbs labeled Bitcoin elusive as he


claimed


that putting money into the virtual


currency is more of a bet than an


investment he explained in a sense until


you can detect a positive intrinsic


value for Bitcoin something which


remains elusive until it can find a role


for itself in the economy bitcoin is not


so much an investment as a bet


the Barclays boss stated that the


volatility of Bitcoin means it is


unlikely to be used as a mainstream


currency after its value dropped lower


than 7000 190 pounds $10,000 last week


he went on the outsized volatility of


Bitcoin still makes it unlikely to be a


stable store of value a medium of


transaction anytime soon both of which


our important traits of mainstream


currencies for private clients the


volatility is still a multiple of what


most would be comfortable within a


portfolio context all the same it


remains difficult to see when it will


subside into something a little less


hair-raising Bitcoin has seen a 50


percent drop from me


extraordinary highs it reached at the


end of last year the incredible rise saw


an unprecedented spike in the popularity


of virtual currencies.


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