Bitcoin which has been regularly touted as the digital payment system which will take over soon enough, has been falling off in price. Since its inception, bitcoin has seen some very extreme price levels. It has been both over and under valued at different points of time. Therefore, the current price volatility does not come as a major surprise for anyone who has been following Bitcoins for a while. However, it is still important to understand the long term effect of the slump in Bitcoin price.
Bitcoin has lost around 40% of its value in 2015. The price of a bitcoins as come to around 180 Dollars per one bitcoin. At its peak in November of 2012, it was around 1242 Dollars per bitcoin. This free of government regulations product has actually been too volatile for its own liking.
Here in this article, we will take a look at the current Bitcoin price. We will consider the outcome which such a price may have on the bitcoin market. And we will take a look at the long term implications of such a price drop.
News on Bitcoins
Bitcoin has been long touted as one of the best incoming ways of transaction in the market. The digital economy has been hailed by a lot of people as a way to transact in the future. The by pass of surcharge is one of the biggest advantages of this currency.
Therefore it is also rather bewildering that the price of bitcoin is falling rapidly as of late. Some of the major reasons behind this collapse lies in the fact that one of the bitcoin exchanges, Bitstamp, had been hacked recently. Another reason is the fact that some of the mining operations which handle bitcoin, CEX, has stopped its operation due to loss in profits. A negative feedback due to all the above reasons is a major reason for Bitcoin price collapse.
Bitcoin Financial News
After being labelled as the future currency, Bitcoin has rather been cold as of late. The price slump is not at all positive and therefore a lot of concern has been raised in the market.
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