Bitcoin Will Fall, Say Experts at Capital Economics

Bitcoin Will Fall, Say Experts at Capital Economics

It is rather ironic that government officials might be profiting from cryptocurrencies when those currencies were set up to disregard governments to begin with.

Even those who purchased bitcoins two months ago, when the closing price on November 17 was $7,709, could suffer a loss, given how fast bitcoin's price has cratered: Its price dropped from $17,527 on Jan.6 to $10,587 at 3 p.m. EST on Wednesday, a decline of 43 percent.

"MAS regulates the activities that surround virtual currencies if those activities fall within our scope as a financial regulator".

Among other major cryptos, the Ripple's XRP token is easily the best performer, having gained more than 30% on Thursday.

Some people mortgaged their homes to buy bitcoin. This is surprising considering 31 per cent of the cryptocurrency jobs posted in the previous year expected candidates to hold either a Master's or a post-graduate qualification - with these postings increasing at an average of 26 per cent per month, suggesting the complexity and high level of training needed for these roles.

"Fast forward to today", the user, going by the screen name PM-ME-UR-ROOM-VIEW, wrote.

I sensed more insane price action was to come in the crypto world as the price of bitcoin jumped toward $20,000 in December.

Bitcoin has all the hallmarks of a speculative bubble but the global economy will be fine even if it bursts, analysts say.

"The shutdown of virtual currency exchanges is still one of the options [that the government has]".

The coins which didn't follow this pattern as clearly, such as NEO, Bitcoin Cash and NEM are well known for being popular in Asia, and the bulk of their traders might be running on a different clock.

CBOE has also filed to list Bitcoin ETFs, which are exchange-traded funds that either hold bitcoin directly or provide exposure to the asset through futures contracts.

China's regulators have already been active in a crackdown on numerous Ponzi schemes in the country, like Onecoin, which they claim were being used to raise illicit funds.

Like all things crypto price related, it isn't clear what is driving the changes. The last piece of information came in May of previous year as the company announced it was in the process of beginning Monero mining.

Since that recovery, an array of virtual currencies have been on a almost uninterrupted tear.

Some might argue that fears about government regulation of cryptocurrencies are depressing their prices, but in my opinion, those prices are dropping because of market fundamentals. A lack of press releases and investor information on its website is making it hard for investors to justify its hefty valuation on Wall Street.

Mr Torvekar said: "A correction was necessary to happen due to the hype surrounding bitcoin".

Prominent individual investors echoed that sentiment.



Related Posts

FEMA: Hawaii didn't need approval to retract missile alert
Either way, the state has a long road ahead in restoring the public's confidence in the alert system, the Democrat said. The interface is unclear, and features links to various kinds of alerts that looks similar to each other .

Fans engage in the Eagles vs Vikings debate
Recently acquired Eagles RB Jay Ajayi averaged almost 6 yards per carry in seven regular-season games after his trade from Miami. Being one win away from a trip to the Super Bowl , it wasn't hard to abide by the 24-hour rule and get back to work.

McConnell says Trump's approval key to immigration deal
The question is whether Democrats will block a funding bill that doesn't include DACA language, something some vowed not to do. Senate Republicans will need at least 10 Democrats to back the bill in a chamber they control with just 51 votes.

Philadelphia Eagles: Trent Cole to retire with team on Christmas
At worst, this team will be 13-3, which is nothing short of awesome when you think about everything they've had to deal with. Cole will retire second in Eagles history behind the great Reggie White with 85.5 sacks, almost 40 short of White's record .

Republicans eye another short-term bill to fund government
Republicans have backed themselves into a corner, unless they can magically produce a Republican-only long-term spending bill. GOP leaders are also trying to draw support from Republicans by including delays for several Obamacare taxes in the bill.

Sen. Cory Booker Spit Fire At DHS Secretary Over Sh*thole President Remarks
Graham spoke up in a way that I respect very much, countering what the president said about countries in Africa. In his questioning, Booker said he was moved to "tears of rage" after hearing about last week's meeting.

This year's bad flu season: 5 things you need to know
There appears to be no let-up with this year's strain of flu - leading one group of hospitals to impose visitor restrictions. Colds generally do not result in serious health problems, such as pneumonia, bacterial infections, or hospitalizations.

Trump Blames Dems For Blowing Up Immigration Talks
John Lewis (D-GA) said in an interview with ABC's This Week on Sunday of Trump, "I think he is a racist". When Trump says or does something vile, what do they do? David Perdue, R-Ga., said.

'I Am Not a Racist'
Dick Durbin , who attended, and others who were briefed on the conversation but were not authorized to describe it publicly. Elsewhere in the city on Monday, Mayor Rahm Emanuel also weighed in on the ongoing storm over Trump's comments.

Trump is still right on immigration
I don't remember [a] specific word", Nielsen said during the hearing . "There just aren't that many foreign-born terrorists". The report also included a discussion of honour killings and female genital mutilation in the United States.

© 2015 Stocks News Daily. All Rights reserved.