“Produce” popular cryptocurrency with such a course is beneficial not all

The most popular cryptocurrency, bitcoin continues to be the center of attention, but lately more as a reason for disappointment. The slightest fluctuations are still reflected in the information on tape media. But often these tapes cannot understand what is happening. In the morning there may be a message that bitcoin is growing, and for dinner – that falls. In the evening, the trend may again change. And each message is sometimes accompanied by a desperate predictions in the spirit of “all is lost”, then sure “he’s going to show what they are capable”.

Jump course “independent”, i.e. “nobody adjustable” virtual currency is a normal phenomenon, experts say. However, if you look at the graph for more or less long period of time, we have to admit: bitcoin shows a strong tendency to depreciation.

 

Infographics bitinfocharts.com

The charts show that during this year, the periods of falling of bitcoin is much more prolonged than periods of growth. And after each take-off rate “cryptocurrency No. 1” falls lower than it was before the upgrade.

One step forward, two steps back

From December 20, 2017, when was recorded the upper peak of the price – 20 thousand dollars – bitcoin fell by almost 3.5 times. By early July, 2018 it is the same as in mid-November 2017 – about $ 6,000. The only difference is that in the autumn of every day he rose in price almost by 50%, and is now trying to hold on to the next “psychological level” so as not to crash down below and not to provoke thus another period of self-depreciation.

However, the 25 and 29 June 2018 bitcoin briefly overcame the next psychological mark of 6000 dollars. – downward. And although the next day the average rate was again increased to 6 thousand “cents” fracture the General trend is not visible yet. For example, if on June 24-25, the bitcoin exchange rate dropped to 5.9 thousand USD, 29-30 June to 5.8 thousand on 30 June, the exchange rate of bitcoin rather abruptly jumped to 6.3 thousand But then for two days again decreased.

Capitalization of bitcoin decreases in proportion to its rate. If at the peak prices of the cryptocurrency, the volume of funds invested in it is estimated at 324 billion dollars, now it balances at around 100 billion.

Mine bitcoins will soon become unprofitable

Not so long ago experts of Crescent Electric has published its estimates of how much each country manages the production of one bitcoin. Calculations were based on the electricity cost, equipment output and other expenses in 114 countries as of the end of 2017.

The experts came to the conclusion that the cost of 1 bitcoin varies significantly between countries. Cheaper mining costs in Venezuela, the cost of 1 bitcoin is 531 USD. The most expensive in North Korea: 26 $ 170.

On average, around the world, the cost of the bitcoin is 7 $ 275. That is much more than the current market value of one bitcoin. That is, if to speak about the world in General, the production of bitcoins is no longer profitable to him.

Of course, not all countries have this craft developed in the same way. And in around 50 countries the costs of mining are still below the cost of bitcoin. But countries where the cost of bitcoin is above the price – is more: 64 of 114, which were calculated.

In Ukraine the cost of extracting crypto currencies some of the lowest and constitute, according to the calculations of researchers, 1852 dollar.

But statistics show that the profitability of mining today and so small, and even a little snizhaetsya.

The future of bitcoin is still uncertain

Experts see the future of bitcoin. Some predict his new rise, higher than last year, others argue that the prerequisites for this.

Executive Director of crypto currency exchange BitMex, Arthur Hayes recently expressed confidence that the rate of bitcoin will return to rapid growth and will even surpass the previous high achieved in December 2017 and exceed it more than twice and conquered around 50 thousand dollars per “coin”.

Analysts of “Alpari” see the future of bitcoin is much more modest.

“Today, bitcoin is experiencing not the best times. Global regulation and a crackdown on the part of many countries have reduced its popularity. In the future, bitcoin could become a means of payment, but whether it will be used in this capacity? Probably not. At the moment bitcoin as means of payment there are a huge number of disadvantages, which it would not be as popular in the world use. At the same time, the popularity he gained as an investment asset, is also gradually sprayed in light of his fall by more than 50%.

In the near future the coin will remain in the range of 6-8 thousand dollars. Until the end of the year, it may strengthen to 10 thousand. But don’t expect last year’s rally in the near future. The most likely scenario is a gradual increase of the price of the asset to highs in the next few years,” says the analyst of “Alpari” Maxim Parkhomenko.

Recall that while the status of cryptocurrency in Ukraine remains uncertain, the technology of bitcoin – blanchan – is gaining popularity. And Ukraine in this issue – including 14 world leaders.

The survey

bitcoin, cryptocurrency, bitcoin exchange rate

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Author:

Alexander Romaniuk

Source:

“Today”

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