Many investors, they are experienced or not, having a large or small capital are asking why the price of bitcoin is simply falling over US $ 100.00 since Sunday. Even if you are not an investor, you must have heard about the sharp drop in the price. Today, after the events, we can justify two factors that served as explanation for this devaluation.One of the major problems in negotiating Bitcoin or any crypto currency, is that this market is not regulated and operates 24 hours a day and 7 days a week.
That is, there is not a government trying to control the price flow. There is no large banks or large investors trying to keep the price at a certain location as in other markets. If the price of some currency tends to a direction that makes the volatility to generate large absurdly levels.
Bitcoin to Hardfork? Speculation and Rumors.
After a year and a half of debate with no compromise reached, supporters of on-chain decided to unilaterally hardfork A new subreddit, r/btcfork, was announced and many bitcoiners joining in the lively debate.
One question is whether to simply fork while maintaining the current miners, or fire them all in a proof of work fork. This leaves room for miners to influence the decision in the next few days, but both options have risks. Faced with their silence, one can expect the latter option to prevail, however, the dominant choice seems to be providing two clients, one with proof of work change and one without and leave the decision to the free market, meaning, there would be three coins, Bitcoin Core, Bitcoin Original, and Bitcoin Evolved.
No decision has been made yet, but, the fear is that either option is likely to find huge support within the ecosystem as bitcoin shows its full unstoppable power for its decentralized nature ensures that all it takes is for one person to release the code/client with the free market quickly joining to pass judgement.
The fork is likely to face resistance, but, it will be a chapter that will be able to drag on for a long time, bringing bitcoin problems in the search for solutions. The first major drop in price as we can see in the chart below just started because of this fork climate.
Bitfinex Possibly Hacked.
Bitfinex said:
"We are investigating the breach to determine what happened, but we know that some of our users have had their bitcoins stolen. We are undertaking a review to determine which users have been affected by the breach. While we conduct this initial investigation and secure our environment, Bitfinex.com will be taken down and the maintenance page will be left up."
In the last hours many investors were caught off guard by this news, which made the price fall more. What made the Hong Kong digital currency exchange Bitfinex to taken its trading platform offline.This is one of the great risks of investing in Bitcoin, the security of exchanges has become a major cause for concern for investors.
This was not the first, nor the last event of this kind, some of you should not know, but already had other times when exchanges were hacked. We can cite cases like Mt. Gox and the Bitcoin’s $460 Million Disaster (http://www.wired.com/2014/03/bitcoin-exchange/) Poloniex 12.3% loses of Bitcoin (http://www.coindesk.com/poloniex-loses-12-3-bitcoins-latest-bitcoin-exchange-hack/) Bitstamp $5 Million loses (http://www.coindesk.com/unconfirmed-report-5-million-bitstamp-bitcoin-exchange/).
These were only a few cases that negatively marked the history of Bitcoin prices. There are many other factors behind, but the hacking let anyone too concerned about whether it penalizing get involved in this business.
These were only a few cases that negatively marked the history of Bitcoin prices. There are many other factors behind, but the hacking let anyone too concerned about whether it penalizing get involved in this business.
