The prolonged drop in quotations of major crypto currencies continued this week. Today, January 15, the average cost of 1 bitcoin on the main trading floors fell to $ 13.7 thousand. Compared to yesterday, virtual money depreciated by 2.6%. At the same time, on some exchanges the "cue ball" fell even lower - to $ 13.4 thousand. Holders of virtual payment means note the unpleasant tendency for themselves that bitcoin is cheaper by $ 1 thousand. every few days. Before the weekend, the Crypto currency was worth $ 14.5 thousand. According to analysts, the next psychological mark will be the level of $ 10 thousand. for 1 bitcoin. The most popular crypto currency will continue to rapidly lose in price to this limit, after which the rate will for some time equalize. Quotations of other crypto-currencies show that a difficult period is experienced not only by bitcoin, but the very idea of ??virtual payment means in general. Investors have diminished optimism, they are slowly withdrawing funds from crypto-active assets. Today, the air has fallen in price by 2% compared to yesterday - up to $ 1.35 thousand. Ripple lost 4.1% in price overnight and now costs only $ 1.86.
Bitcoin Cash weakened by 4.1%, dropping to $ 2.55 thousand. The market capitalization of the Crypto-currency is currently $ 707.54 billion. Bitcoin still accounts for about a third of this volume. Optimists believe that the pre-New Year's collapse of bitcoin by 15-20% was just a natural correction, after which the value of the crypto currency should again go up. However, this does not happen yet.
Experts call at least three possible reasons why events develop in this way. First, the fans of the Crypto-currency, who can afford to spend a rather impressive amount on virtual money, for the time being a rather limited number. Anyone who wanted to invest in "cue ball" or ether, has already done it. Therefore, the flow of new investors, and therefore new funds, dried up. Secondly, more experienced players are perfectly aware that bitcoin is not provided with anything, and therefore there is a high probability that everything will begin to crumble as quickly as it grew. At the slightest recession, crypto-monet holders begin to get rid of them. Similarly, there are players in all mass markets. Thirdly, those who seriously "fell ill" with crypto-currencies, began to understand that the alts (that is, alternative currencies) promise a much more solid prospect than bitcoin. Therefore, part of the funds withdrawn from the bitcoin market, flows into Bitcoin Cash, Ripple and similar tools. The market of crypto-currency on blocking technology has good prospects. However, the emotional nature of non-professional investors leads to sharp jumps in the exchange rate, which prevents virtual money from turning into a respectable financial instrument. Meanwhile, there are increasing voices about the fact that crypto-currencies can become a niche phenomenon. Crypto-investors show great interest to currencies with a limited range of applications, such as KodakCoin or Dentacoin. As for common funds, they can become a substitute for real currency in some countries experiencing serious economic problems.
In the US, where transaction costs are low, and the dollar is stable, the crypto currency can not fully reveal its potential, according to Goldman Sachs. But, for example, in the Democratic Republic of the Congo, where 90% of deposits and loans are made in foreign currency, or Zimbabwe, where in 2015. generally withdrew the local currency from circulation, the crypto currency can find its use. In addition, bitcoin can be useful where governments impose stringent restrictions on foreign currency turnover.