them digital currency They shone in 2017 with a meteoric rise. But they did so inside a bubble that, as experts in finance warned, exploded in 2018.
one financial bubble It is characterized by an abnormal rise in the price of an asset. This happened precisely with him Bitcoin, paradigm of digital coins. In December of 2017 reached its historical maximum, 19,783 dollars. Now, one year from its peak and ten years after its birth, it is traded around 3,500 dollars.
The electronic currency fell by 80% in 2018. It should be noted that it diminishes dragging all digital currency: the global market for virtual currencies lost a value equivalent to 700 million dollars.
Some analysts elude the metaphor of the bubble and explain the decline in the nature of digital currency. Without the support of governments or banking entities, they are taken from the volatility and are defined by risk.
"I can say with almost total certainty that they will have a bad end," said the well-known American investor, Warren Buffet, in respect to Bitcoin this January. And he assured that in an interview that his investment firm never trusted in the digital currency. Later he described this currency as "poison for rats".
A few days ago a TN Techno We told you that Facebook would launch its own digital currency to make transfers through WhatsApp. In direct relation to the volatility of the tool, Bloomberg He assured that this currency would be tied to a dollar fund. The reason? gambetear the digital currency instability.
Not everyone was injured
As with different investment tools, the winner is the one who is the best time to enter and / or retire. In this way, who bought Bitcoins in 2011, when the currency reached $ 1, he made a great investment. Even if he did not sell his virtual coins in December 2017.
On the other hand, the big losers are those who bought during the glory days of the Bitcoin belief that the value would continue rising.
In this sense, the French publication give you Echos He said that the digital currency "leaves an awning of victims, mainly the millions of individuals who believed in it modern lookBut they bought it too late. "On the other side there are the banks and the big investors," who adopted a stance waiting for the volatility and risks of the sector. "
Returns: why did the digital currency fall in 2018?
An unmissable mention is the Computer attack to CoincheckA recognized platform for Japanese-language exchange.
In February, the authorities in that country flattened the headquarters of that operator to investigate the Cyberattack that cost more than 530 million dollars. At that time, the value of Bitcoin sank 20% in Japan. And the hens reached more markets.
That same month, a fault in a house of change li served in tray new arguments to those who dislike the digital currency and the security of the platforms that manage them. What happened? A system error allowed you to buy electronic currencies at zero dollars!
The Hackeos really took effect in the reputation of these currencies. A variable that undoubtedly depressed the sector.
In this direction we must mention the digital currency ban in South Korea. At the beginning of 2018 the government of that country, one of the most important markets for Bitcoin, reported that it was working on a project to prevent transactions with virtual currencies.
"We can not allow this abusive speculation situation to continue for longer," said the South Korean minister of the Government Policies Coordination Office, Hong Nam-ki, at that time. After that announcement, Bitcoin had several percentage points around the world.
Along with South Korea, other countries such as China and Japan announced measures in this same direction.
Another "palazo al cabeza" of Bitcoin, perhaps the most powerful one, was nailed by the US Stock Exchange Commission and Values (SEC). This year, the body rejected the approval of a traded stock exchange (ETF) that had dramatically facilitated transactions with this currency. Wall Street let go of his hand, and the price fell again.
For the rest, it should be noted that Bitcoin was not the only one in bite. In this sliding slider also slip digital currency and platforms like Ethereum and Ripple.
A trip away?
Although it is about # 39; "A Consolation of Fools", A bad of many relieves defenders of digital currency. According to an E of CNBC, Most of the investment assets were negative in 2018.
On the other hand, the interest for these decentralized currencies does not seem to have dropped. As a sample just a button: "Bitcoin" was one of the most sought after terms in Google during 2018. Although it is to know its misfortunes.
Is the end of the digital currency? Or will he have "phoenix paste"? citing give you Echos: "On other occasions (the digital currency) rose after a death certificate, thanks to its ability to adapt, its cutting-edge technology, and a more solid ecosystem than its rivals ".
To rely on the rise, it is also interesting to note that digital currency was the centerpiece of debates and reflections during the G-20 celebrated recently in our house. The modality remains in the foreground, beyond the critical gaze of many governments.
2019 will be a real test bench for these alternatives. Does the founder of Twitter predict that the ten-year-old Bitcoin will be the only currency in ten years?