Ripple, Bitcoin.. How Down Can It Go??
The crypto currency know their worst value from the December 22 (for some) and January 8 (for others).
Bitcoin dropped by 15% in 24 hours, slipping below 10,000 euros ($ 12,000). Ripple unscrewed by 23% according to Coinmarketcap. Ether yielded 14%.
Although it is difficult to isolate with certainty the causes of the crash in an environment known for its extreme volatility, the recent warning shots of authorities and financial regulators in several countries seem to reach the markets.
To understand the fall of the e-currency, it must first be remembered that trading volumes are low. In addition, bitcoins are highly concentrated: 1,000 people hold 40% of the stock. Just a handful of them sell bitcoins to destabilize the price.
Some have also become aware of the divisions within the bitcoin community. The broadcast of this one is controlled by a computer algorithm, which works thanks to a community of users putting their computers in network to control all transactions in bitcoins. These are listed in a huge public database called "blockchain".
In addition, the algorithm limits to 21 million the total number of bitcoins that will be issued (there are already 16.7 million in circulation).
Will the fall of the course continue? Hard to say, since its creation, the value of bitcoin continues to play yoyo. It is also not excluded that it skyrockets in the coming days.