Are cryptocurrencies the future of the financial industry? Read the latest news written by our expert currency market analysts on this fascinating and ever-evolving innovation.
"Deteriorating prices of cryptocurrencies are becoming more and more problematic for their individual miners. At least 100 thousand cryptocurrency diggers had to stop their activity in the recent period," writes Bartosz Grejner, Conotoxia Analyst.
"Bitcoin price rebounded from the bottom by about 10%, yet it does not necessarily mean the end of the downward trend. The information flowing into the market is not positive," writes Bartosz Grejner, Conotoxia Analyst.
"Bitcoin costs 4,000 USD - the lowest price since October 2017. A week ago this popular cryptocurrency cost 35% more. Not only one factor caused the drop in prices, there are at least a few," writes Bartosz Grejner, Conotoxia Analyst.
The most popular cryptocurrencies lost more than 10% of their value within the last day, smaller ones even above 20%. Hard fork, i.e. the introduction of new software for bitcoin cash, may be one of the reasons for price drops. However, the truth is that the prices of the cryptocurrencies have been trading near their bottoms for an extended period of time," writes Bartosz Grejner, Conotoxia Analyst.
“The relatively low valuation of cryptocurrencies, significant drops since the beginning of the year and media silence surrounding this matter have not prevented institutional investors from locating record amounts in virtual currencies. Is this a sign that their prices will soon start to rise again?” writes Bartosz Grejner, Conotoxia Analyst.
"The price of Bitcoin drops along with its decreasing popularity. The last sell-off on the global equity market also did not help Bitcoin. The interest in the whole cryptocurrency market on the internet is at the lowest level in one and a half years, when Bitcoin cost five times less," writes Bartosz Grejner, Conotoxia Analyst.