Bitcoin: Why are growing in popularity, and not the course?
The lull in the cryptocurrency market continues. Basic coin exhibit zero dynamics, while the news is replete with reports that in 2018 was handled bitcoin transactions amounting to $3.2 trillion. The popularity of the reference cryptocurrency in darknet (shady, often illegal part of the Internet) in 2018 grew in inverse proportion to the decline of the market, the number of transactions in the bitcoin network is also growing, as the number of bitcoin ATMs worldwide. However, the growing popularity of has not had much impact on the Bitcoin exchange rate.
More market participants frighten and repel the next news about the serious security problems in the sector of the blockchain. Recently, it became known that darknet is sold the personal data of the customers of the world’s largest crypto exchanges Poloniex, Binance, Bittrex and Bitfinex, which in the spring of 2018 gathered a complete package of information about their customers within the framework of the mode of operation of “Know your customer” (KYC). At the moment the situation is reminiscent of a Western with Bank robberies, only now steal not only money, but also data about their owners. It is not surprising that big business is just waiting for guaranteed centralized decisions to buy and store digital assets.
Recently update Constantinople in Ethereum was quickly cancelled when the code has found a critical vulnerability. It was revealed that a hacker could have unlimited number of times to demand payment of their work within the smart contract. It is noteworthy that the potentially quite serious negative news had no impact on the dynamics ETH.
An interesting point in connection with the American shutdown. If it will be extended until 27 February, then automatically the first Bitcoin ETF is approved. However, it is important to understand that even if this happens, then it could hardly be regarded as definitely positive news. A little over a year ago, the launch of futures on Bitcoin in the US is not saved the market from a long reversal.