How things change for a year! By the end of 2017, investors were willing to pay nearly double the baseline value for buying shares in the only US investment fund in Bitcoins. Now, the premium is almost non-existent as a result of falling close to 70 percent of the largest crypto currency.
Many investors and speculators it was not the only demand that cooled downSince the middle of the year, financing from the so-called initial offer currencies has also been significantly reduced. Many startups who managed to raise money in this way felt the blow to the digital assets market, and therefore reduced the number of staff and shut down operations.
Profitability calls mining, whose servers are compatible with bitcoin network operations, have also failed. Many have left the job or excluded some of their servers. As a result, the amount of computing power supported by the bitcoin network has been reduced, which has affected its security and capacity.
It seems that the end of all of these problems is out of sight. Today, few experts have the courage to say when they will reach the bottom while continuing to move forward from $ 4,000, a level that is considered to be covered by the loss of many mining companies.
In fact, it's harder to defend Bitcoin as the ultimate investment alternative, even after a 1400 percent increase in 2017. The virtual currency that was promoted as "digital gold" failed to achieve quality metals and the US stock market. during the turmoil that the market experienced this year.