Bitcoin will not lose value after hacking Bithumb

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Stock Markets Group – in an interview with CNBC, said the founder of Litecoin Charlie Lee, after the recent collapse of bitcoin exchange rate, and the message about loss of one of the largest cryptocurrency exchanges about $ 30 million in bitcoin.
He noted that the recent depreciation of Bitcoin is the conventional reaction to the news caused by fear. This is not the first time and not only with the most popular cryptocurrency, so don’t focus on that.
“If the marketplace does not protect customer funds well enough, and for some reason have been hacked, it will not affect the bitcoin and its existence”
The Creator of Litecoin is confident that in the current crypto currency exchange are seeking new schemes of protection of customer funds. Much has been done, but need some revision.
On the other hand, these incidents create the conditions of understanding of what bitcoin and other funds in the account require special attention and storage.
Speaking of bitcoins, Lee noted that even despite the fall of most popular cryptocurrencies in the world 60% in the last year alone, doesn’t make it any less attractive. Bitcoin is still quite stable, and the network of the blockchain during this time became much more stable. The current price of Bitcoin most likely does not reflect the price situation and very soon the growth will resume.
Even if a strong bear market, it is difficult to predict cryptocurrency and expect it will last three or four years, or just one day.
“I cryptosphere for about eight years and see a bear market for three or four years. So I think the current situation can continue or fracture will occur tomorrow”
From the point of view of the claim that the mechanics of bitcoin does not change as a result of hacking store, or exchange sites, it is possible to agree with the expert, but he does not consider the attitude of the major players to those assets that are unregulated and not protected by law.
That is why, every time after hacker attacks we are seeing the flight from bitcoins and the collapse of the course. The essence of the token remains the same, but there is no assurance that as a tool it is criminal safe.
In our opinion this interview only tells a well known fact – “bitcoin will never disappear and will not disappear”. But today, for major investment players is not important, much more important than safety and the law protects investments.
Meanwhile, the issue of compensation is a “headache” most of the crypto currency exchange the state in such situations, as a rule, remains on the sidelines. This causes a lot of negativity and doubt on the cryptocurrency market in the period such reports about the hacking of exchanges.
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Elena Sverdlova,
Senior analyst,
Stock Markets Group™