The crypto-currency market could be heading, in spite of the slight increase in the volume of trade, which has seen the market in the last few days, to a collapse. The analysis company Juniper Research, cited the gradual decline in the volume of transactions, and pointed out that the market is worldwide collapse.
Analysts warn the industry for some time before an imminent collapse, and the report from Juniper reflects the opinion of the Mainstream analysts. Bitcoin, along with the rest of the cryptocurrency market, was in the last few weeks in a downward spiral and the current figures and analysis suggest only a further decline. The study shows that the daily transaction is declined, the volume of Bitcoin from an average of 360,000 per day by the end of 2017 230,000 per day in September 2018, which is an alarming decline in the activity by 36 percent. In addition to the low trading volume in the same period, the daily transaction values have a negative impact on the earnings and fell from $ 3.7 billion to less than 670 million US dollars.
Spiral out of control?
The entire crypto-currency market has experienced since the end of 2017, a broad decline, which was caused by the fact that the market cycle will continue to draw a hard and extended Downward, although Bitcoin has been in a steep decline in the trading volume and the transaction value. The bull Run, which was observed by the end of 2017, saw action in the market at much higher daily transaction values, together with BTC at almost$ 20,000 per Coin. Crypto-currencies were in the spotlight and have been featured in popular Mainstream news in a prominent place by they reported on the daily price jumps and nightly riches on the crypto currency market. The immediate result of all this, a flood of new investors, Coinbase reported at the time that your customer base rose to over 13 million – higher than that of the long-term share broker Charles Schwab. The massively increased volume of transactions and the assessment by the flood of enthusiastic investors have decreased in the last few weeks, with the falling market.
In the first quarter of 2018 crypto-currency transactions in the amount of 1.4 trillion US dollars have been made, compared with 1.7 trillion dollars for the entire year of 2017, which fell into the second quarter by more than 75 percent, with the total market capitalisation, fell sharply. In a white paper, which was published along with the Research article, said an Analyst from Juniper, the Conviction of the group that the crypto-markets will continue to show losses compared to the previous quarter, “Based on the activities in the first half of the third quarter, Juniper estimates that a further decline in transaction values in the quarter by 47 percent compared to the previous quarter”.
Juniper predicts that crypto-currencies are more difficult times, there is a “market collapse” is threatening, due to the continued price decline of Bitcoin and the Altcoin market, as well as due to the decline in transaction volume and valuation.
In short, given our concerns in relation to both the natural valuation of Bitcoin, as well as the operations of many stock exchanges, we are of the opinion that the industry is on the verge of a collapse.
The rise of a new world currency
According to the now well-known treatise by The Economist thirty years ago, in 1988, the market should be “ready for a new world currency”. The accompanying article was: “In thirty years, Americans, Japanese, Europeans and people in many other rich and some relatively poor countries are likely to use for their shopping with the same currency to pay”.
For years, speculators are wondering whether the indicated deadline, the 10. October 2018, means that a big change could occur. The iconic Cover art showed a Phoenix is the metaphor of the preference of the Economist for the currency surrounds a coin with the Numbers 10 and 2018, which are engraved therein, and the Dollar is burning underneath. The effect has not proved to be true the change.
Bitcoin is the future? Insights from the Economist.
The Economist seems to have expected that more progress has been made, when in reality, according to the tone of the article was the case. “The prices are not in dollars, Yen or D-marks but in, let’s say, the Phoenix stated,” there.
The Phoenix is favored by companies and shoppers because it will be more convenient than today’s national currencies, which will be the reason for many disruptions of economic life in the last twentieth century.
The technical signs suggest that Bitcoin is still affected for at least a few months of Price declines and to meet a sudden increase to the prophecy of the Economist. And it seems that the publics gates themselves have lost Faith in the world of crypto-currency as they have all referred to August as “useless”.
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This article was from English into German:
Senior IT Consultant and Crypto Enthusiast always in search of interesting news.