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Bitcoin under $ 5,400 "kleinzeitung.at



On Wednesday, Bitcoin's cryptocentric suddenly lost 14 percent of its value. Other crypto currencies are in the negative territory.

16:44, 15 November 2018

Bitcoin again lost great value
Bitcoin again lost great value © APA / AFP / KAREN BLEIER

Battle value returned to normal: on Thursday, cryptocoupling is reported in London at around $ 5,400 ($ 4,780) per unit. On Wednesday, Bitcoin surprisingly dropped to $ 5,322, the lowest level since October 2017.

The background should be a conflict in Bitcoin's spin-off Bitcoin-Cash. Because on Wednesday there was a technical update, which leads to another breakdown. Problem: All crypto currencies need a computer power, it has enough power to make a transfer.

Especially bit and separates access to the same Miner configurations. More separation theoretically leads to less computing power per spin-off. Here, Bitcoin-Cash, in particular, competes with various awards for the computer power of miners.

Long point

The fall of the digital currency began last autumn and peaked in December 2017, when the bitkoin cost more than $ 19,500.

Since then, it has gone downhill – only on Wednesday, the value has sunk by more than ten percent. Within 24 hours, the total value of cryptocurrencies, according to Coinmarketcap, fell by more than 14 percent to $ 180 billion. "It reminds us that cryptococci is extremely unstable," commented Hussein Saied of FKSTM.

Massive fluctuations

Bitcoin was just a few cents worth the start of trading in February 2009. In the early years, the currency has evolved far from the public. In 2013, Bitcoin for the first time broke the $ 1,000 mark.

Behind the digital currency idea is the currency that exists independently of states, central banks and monetary policy. Unlike traditional currencies, digital means of payment are not controlled by the central office, and reservations do not have to be confirmed by the central office.

From the perspective of ECB director Benoit Coeurea, central banks are far from ready to introduce their own cryptokvans. Most central banks are still at an early stage with their digital currency research, Coeur said on Thursday at a Basel event, according to a speech text. It is unlikely that the digital central bank, in any form, will be introduced in the next decade. This also applies to central banks such as the Uruguay Central Bank, which already had pilot projects.

Many currency controllers around the world are checking whether cryptographic technologies such as Bitcoin or Ripple can be used for their needs. For example, the model of the currency of the digital central bank envisages that everyone can obtain a central bank account through which all transactions will be sought.


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