Quote from: nicunicu on October 31, 2018, 03:23:45 AM

How was the response about the bitcoin economic market for 10 years which experienced an increase and decrease ?

Bitcoin will soon celebrate its 10th birthday. However, this achievement was slightly tarnished due to its downward trend.

The Wall Street Journal reported, in 2017, the price of digital currencies launched in 2008 had surged to 1.375% because investors and traders were interested in Bitcoin.

However, the price of the most popular digital currency has fallen considerably until the third quarter of 2018. The price of Bitcoin has dropped more than 60% from the highest price last year, according to Coindesk data. Last week, the price of Bitcoin had gained 4%.

The overall cryptocurrency market is worse: the combined market value of all crypto currencies plunged 13% from the previous quarter, down from US $ 255 billion to US $ 221 billion on Friday, according to CoinMarketCap.

This decline was contributed by a decline in the market value of large digital currencies. Ether, which is used in the ethereum network, dropped 51% each and Bitcoin Cash and EOS dropped 28% respectively.

Lately it has been difficult for Bitcoin to attract new buyers or even retain old buyers who are mostly disappointed with the price.

According to Blockchain.info, the average transaction price in quarter III-2018 reached 217,000 digital coins. This figure is far below the average daily transaction in the fourth quarter of 2017 of 319,000 coins.

The initial coin offering market (ICO), which allows investors to buy digital tokens such as bitcoin to be developed or offered in the future, is equally insecure. The ICO market has raised US $ 12 billion this year, according to data from research company Diar and TokenData, about double that of 2017.

However, the company calculates that 70% of the current projects have fallen from the price when the ICO was completed. Maybe this is what affects the difficulty of increasing the price of bitcoin on its 10th birthday because the average "ico will decrease by 50% after launching

It is still exciting especially for buyers, they can take the opportunity to buy more bitcoins and invest it. Bitcoin price is unpredictable so if you are really determine to earn huge the you need to have longer patience.

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