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What happened to bitcoins recently?

Author : paul

Submitted : 2018-02-26 03:10:56    Popularity:     

Tags: happened  bitcoins  

I heard it lost its value.

Answers:

It's supply-demand of a virtual entity, not very different from religion. It goes up on faith, and down on a weakening belief. It was an experiment of taking in-game tokens as bought with national currencies and test it in the real world. There are more and more cryptocurrencies being created.
https://finance.yahoo.com/quote/BTC-USD?...
Bitcoin trades at 10,721.69+240.03 (+2.29%) As of 4:01AM GMT
In a year it went from $1172 to almost $20,000 and fell back to about $8000 and now at almost $11,000.
You should have bought it at under $100, five years ago.

Although national currencies aren't as real as they used to be, cryptocurrency is a real phantom with nothing at all behind it.
It will go up and down. Governments are looking into regulation because North Korea seems to be tied in, as well as other unsavory entities. Simply put, like any item, it is worth what people will pay, but at least a painting like the Mona Lisa by Leonardo Da Vinci is a physical item that someone would probably buy for $700 Million or more. That $700 million gets one real painting or 65,288 virtual accounting number bitcoin in a virtual wallet. One is stolen with guns and the other is stolen by hackers.

There is no reason or logic behind the rise or fall in value of cryptocurrency unless you see new regulations issued.

yup sure did ... what did you think was going to happen with fake money

Yup, down nearly 1/2 from its all time high.

Just the volatility of the markets. It's not dead yet. A lot of companies are installing devices to take bitcoin now.



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