While bitcoin has already lost a lot of ground since its historic record, its fall would be far from over. According to stock market data, this correction of magnitude could be explained by the intensive appearance of competitors.
Bitcoin, the most popular virtual currency in the world, recorded a negative momentum at the beginning of the year. According to stock market results, the price of Bitcoin is currently falling, as investor interest is increasingly attracted by the appearance of new virtual currencies.
Bitcoin
Around 06H08 GMT, Bitcoin was trading at about 14,300 dollars, falling more than 6.76%, according to the portal CoinMarketCap. The price of cryptocurrency fell by 7.65%, to 14,100 dollars on the Bitfinex platform, the largest platform for trading digital currencies in the world; 7.46% at $ 14,100 on the Global Digital Asset Exchange (GDAX) trading platform and 2.48% at $ 14,060 on the Coindesk portal.
In recent times, investors are paying more and more attention to new cryptocurrencies. Thus, market participants' interest was captured by the Kodak statement on the launch of its own virtual currency for KodakCoin photographers and its own blockchain platform. As a result, the company's shares rose 119%.
In addition, Dentacoin, a cryptographic currency specifically designed for the global dental industry, reached a total cap of $ 2.3 billion on Monday, according to CoinMarketCap.
The well-known Telegram encrypted e-mail service launched by Pavel Durov is set to launch a massive fundraising campaign, with 180 million active users planning to launch its own Blockchain platform and its own cryptocurrency, Gram. Really, a first for a messenger.
Still, a number of experts are skeptical about the rapid growth in the number of new cryptocurrencies.
"Soon there will be many projects that will not have solid foundations and good technologies, and that will simply be unrealistic. They will end up facing a big obstacle that they will not be able to overcome, and you will see that many of them will surely fail, "predicted Charles Hoskinson, co-founder of the Ethereum blockchain and head of IOHK, a research firm. technology research, in an interview with CNBC.