Cryptocurrency: to Talk about a new global growth before
Cryptocurrency market stopped falling, but to speak about its complete cessation is premature, rather it is a kind of pause, the short-term correction within the downtrend. Such conclusions can be reached based on the fact that the prices of the main digital assets have not yet reached the levels of their local minima – and this area is $5800 for Bitcoin (current $6419) and $150 for Ethereum (current price $at 189.80).
At the same time, Ripple and Litecoin, the value of which at the moment is $0,2707 and $52,98 respectively, have come to support that until the price broke. However, in the absence of a positive on the cryptocurrency market and the continuing tensions on the eve of a decision by the SEC Bitcoin ETF funds has the prospect to see further decline of altcoins with a purpose of $37.25 for Litecoin and $0,14 for Ripple. This is a very pessimistic scenario, but it should definitely take note of those who are considering the purchase of these tools..
Cryptocurrency sphere and reducing the cost of the leading assets after their feverish growth is often compared with the events on the dotcom market in 2000-2002. However, the fall of the cryptocurrency has already broken antincendi crisis of technological companies. If we consider the Nasdaq Composite Index (2000-2002), then its decline from the peak to the minimum was 78%, while the rate MVIS CryptoCpmpare Digital Assets 10, which includes indicators TOP 10 leading cryptocurrency is already showing a drop of more than 80%.
Without a doubt, the fall of the stock market “cleans” this segment from the participants, which is usually called “cholerae” (those who bought and just keep the deal no matter what, until enough money), and significantly sobering investors who want to earn quick and easy money.
However, despite the falling prices, the industry is evolving and changing. For example, in the areas of mining. The greatest number of mining capacity is concentrated in China, and in the conditions of falling of profitability of business in the country, companies are looking for alternative sites to host their mining farms.
One of the most discussed transactions is the transfer of the mining farm from China in the former building of the data Center of the Ministry of defense of the United States. In the initial phase, the Chinese company Wuhan Veneral Group Inc plans to mine the cryptocurrency amounting to $3.5 million per month. The company believes in the cryptocurrency market and waiting for the resumption of growth. However, the personal opinion of individual members, even if it is a large structure, is no guarantee that their predictions will come true.
However, the precedent of the transfer of the mining farm from China represents a particular interest from the point of view that the unfriendly policy of the local authorities forced the company to look for sites abroad. Unfortunately, Russia can not yet be considered foreign investors, due to the fact that the country has no laws on the market of cryptocurrencies and mining, and the legislation may in the end surprise.
The sooner officials will hurry to adopt laws and make them loyal, the more chances that in Russia, investment will come miners from China. Conditions in a cool climate and relatively low cost of electricity in Russia is, and to transport power from China to Russia is closer and more convenient than in America.
“International Financial Center”