Bitcoin exchange rate October 12: Expert warns about the new fall
Stock Markets Group – bitcoin exchange Rate today is consolidating in the range of 1.18% after a hard close on by panic profit taking amid lack of principles of the stock market.
However, the risk of further falling prices is because the growth due solely to technical factors, but a fundamental component remains closer to the negative.
On the chart bitcoin/dollar quotations have not reached the first level $ 6,000, so in our opinion, in the near future the market will try to close this gap, and only then are expected to intensify those investors who will try to buy bitcoin cheaper.
Courses of most of top ten cryptocurrencies turned green and behind the main coin grow.
So the Bitcoin exchange rate Cash appreciated by 4.44%, retracing yesterday’s losses at around 451$, the Ripple climbed to a record 12% and reached 0.435$, Ethereum has risen by 4.35% and is at level 198.46$, and the Gold Bitcoin exchange rate has strengthened by 5.84% and one coin on cryptomeria world offer 25.33$.
The bitcoin exchange rate becomes dependent on the Chinese “whales”
Representatives of Princeton University, is concerned that Chinese mining pools have an absolute monopoly on bitcoin, able at any moment to organize the situation on the market in their favor.
That is the apocalyptic scenario is that the price of bitcoin can just derail the stakeholders of Kriptonika, quite real.
As you know, China accounts today 74% of the world of Bitcoin mining, which is sufficient for a significant impact on the digital asset.
The miners of China, using the “Chinese firewall” can mine empty blocks, thus affecting the amount of remuneration and slowing down your network.
Now cryptologist not noticed such actions by the Chinese mining pools, however, according to the researchers, they have the opportunity to carry out an attack 19 ways to weaken the exchange rate of bitcoin or even to destroy the cryptocurrency.
The question remains whether it is the Chinese miners, if known in the country now has the greatest number of cryptomerioides, which are unlikely to be interested in the depreciation or disappearance of such asset as bitcoin.
On the other hand, the monopolization of the major cryptocurrencies cannot be indifferent to the regulators, who are working on legalization.
So for now it’s safe to say that the decentralization of bitcoin is gradually reduced, and in the future in our opinion will greatly affect its popularity and value as a financial asset.
Market analyst cryptocurrency
Stock Markets Group™