Get exclusive analysis and cryptocurrency insights on Hacked. Investors think Bitcoin is still in Bubble territory. There is no real reason to go up, and crypto in ice3 bitcoin price doesn’t seem to like stability, so it either goes up or down.
A lot of people have their summer vacations right now. People who hold BTC sell some to get money for travel and vacations. Around 19 million Ether has been sold for 2000 Ether per Bitcoin. That is 9500 Bitcoin being sold in a couple of days. Miners are selling and no new investments are being made. When looking at the latest Bitcoin USD price chart, the downward move looks very consistent.
The first and last reasons therefore make sense to me. There is a clear correlation between user interest and the Bitcoin price. And for the moment, global new user interest is lacking. Miners are mining and mostly selling.
Investors are buying and mostly hoarding. Enthusiasts are buying and mostly spending. Bitcoins and selling them for dollars. Merchants who receive Bitcoin generally trade for USD immediately, and thus generate sell pressure. But enthusiasts shopping with Bitcoin also stock up on new bitcoins which could offset this price change. So the third point should have little net effect. Major retailer acceptance has a short term DOWN effect on the price.
Because when a major retailer announces acceptance, old coin holders rush to spend some Bitcoin to support that retailer, often creating millions of dollars of transaction volume in a few days, and all these bitcoins will be converted to fiat by the retailer, creating sell pressure, for the short term. I could not confirm this, but perhaps Dell is selling their first bitcoins from sales. In the long term, this is good for Bitcoin, since every company that accepts payment in Bitcoin raises the usefulness of Bitcoin, thus more people will want to buy. For the moment, the miners just seem to be winning from the investors. Joris de Ruiter studied Artificial Intellgence and decided to do absolutely nothing with that. He has become a writer, photographer and professional web designer. He enjoys making exotic ice cream flavours in his ice cream machine.
Frank Amato, Former Executive Director for JPMorgan and Block5. 281A1 1 0 1 0 . 132 4a1 1 0 0 0 1. 744A1 1 0 0 0 8. Maybe you heard about this crazy cryptocurrency Bitcoin. The future of money, the revolution of payment, the digital gold, slayer of capital controls, holy grail of Fintech.
Now you maybe want to know more. The best way to learn is just to try it. Buy a Bitcoin, pay with it, store it in your digital wallet, watch the price rise or go down. But where can you buy it? For many people, the first acquisition of a Bitcoin is a terrifying process. There are a lot of options to easily, fast and comfortably buy your first Bitcoin. Which one is the best depends on your country and your preferences?