The deepest fall of bitcoin
effect on Ethereum and the rest of the pack? So, people invest in Ethereum, Dash, Litecoin and even its fork Bitcoin Cash instead. So Im keeping it, Im sure at least in the next 12 months prices will go back to where I got it at, Ill sell then. As we have seen with the unconfirmed transactions that are becoming somewhat of a problem right now, bitcoin is not as viable and attractive as a cryptocurrency in between for people because of higher fees and backlog of transactions. But, what will happen to the other altcoins? The expansion is so big that it compensated for the drop-out of not-so-efficient miners. We can see that happening but at the same time, the price of other cryptocurrencies remain the same. Everyone needs to believe that Bitcoin is fraud, its a Ponzi scheme, thats the only way it used to work. Its also possible that miners will sell more of their holdings as margins get squeezed. The drop from a 14k range to the current 8,000 has taken most investors xfx radeon 6950 bitcoin including veteran investors by surprise.
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After reaching a historical high of almost 20,000 Bitcoin experienced an expected pull back and lost almost 60 of its value before consolidating at a 14,000 price range. (referring to the market downfall) Now the big whales realize that if they have to make money, they have to involve governments and so they did. While that drew a fair share of amateurs mining from their basements, the lucrative rewards also drove major miners to up their game by snatching up increasingly speedy chips and setting up shop in places with cheap power. Call me naive or stubborn; I honestly dont understand the technology or how any of it works, I just want to make money. On Jan 5th there were two other comments on multiple forums in the Russian and South Korean social sites that suggested a bigger market manipulation in play. So, what will actually happen? Morgan Stanley has said that large mining farms make money only with Bitcoin trading above 8,600, according to a cnbc report. As mining power increases, the calculations needed to generate new digital coins become harder a mechanism designed to limit supply and dominance in the hands of few miners. Well, what could actually happen is that bitcoin is a little too much saturated right now. Ethereum (ETH) Price 2017 (3 months) and bitcoin price.
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