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Bitcoin crashing below 4500 USD!

Hard days for the cryptocurrencies when you watch the markets.
With Bitcoin and other cryptocurrencies reaching all-new lows,
the question is: Is it still wise to invest in cryptocurrencies?
The reasons why the cryptocurrencies are falling are many.

Here’s what most sites about cryptocurrency and their weakness write:

  1. Bitcoin Cash is on it’s way to a hard fork which means that a new Bitcoin-like cryptocurrency is coming and raising pressure on Bitcoin and Bitcoin Cash
  2. The US Monitoring authority SEC has sued two enterprises due to their initial public offering on digital markets (ICO – Initial Coin Offering).
  3. People are scared by the rallye all cryptocurrencies are currently undergoing and selling their wallet contents.
  4. Money capital of all cryptocurrencies has been falling to 124 billion USD from 840 billion back in 2017
  5. Less interest to mine for new blocks has also lewered interest in specially designed hardware thus also lowering the capital gain.
  6. The general capital market is suffering from a side-moving or even from a drop so interest in cryptocurrency-based shares is also at an all-low.

So what does that mean for the owners of Bitcoin&Co.?

Shall they sell now or wait untill this Baisse is thru or shall they even invest in new shares or start mining again?

The problem is that there’s no general answer to that.

Let’s have a view on the charts of both cryptocurrencies since May 2017 (click to enlarge):

Bitcoin reached it’s peak on December 16th, 2017 with a whopping 19.361 USD. Then a sudden dip back to 13.000 USD and another rise to 17.900 USD on January 6th, 2018.

Since then the currency started to loose in value steadily. There were some spike upwards but Bitcon never reached it’s five-digit value per share again.

So let’s watch the chart of Ethereum (click to enlarge):

Ethereum had a glamourous start of almost 1.428 USD on January 18th, 2018 but then started sliding down again. On April 28th, 2018 it started to rise again up to 840 USD.

Since then also Ethereum lost it’s value steadily. Now being on 142 USD per share. And it’s doubtful it’ll ever reach it’s four-digit value per share again.

So in conclusion everyone who had a whole bunch of shares of each of these cryptocurrencies by end 2017 / beginning of 2018 was a winner. Everyone else who thought he could get the same amountin short time had to learn that the cryptocurrencies have lost a lot of it’s charme till now and it’s questionable, if they will ever rise to new heights again. There are a lot of factors given that makes the outlook grim and  with the current up&down on the normal stock market it’s a matter of time when we will see the next big stock market crash to happen.

All in all: It’s up to you if you want to participate this volatile market. But if you don’t have money to spare, then better don’t!

If you have your computer idling and running for probably nothing, you can make the wasted power into money.

Give WinEth a ride if you want but first consult the manual and how to register an ethermine pool at ethermine.org and preferably a digital currency wallet account such as Jaxx!

Keep in mind that ETH/BTC miners are considered PUPs (Potentially Unwanted Programs) and nearly every virus scanner is either alarming them or cmpletely deleting them prior to execution (such as Kaspersky!)


November 20, 2018 Netspark - 1585 posts - Member since: May 9th, 2011 No Comments »

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