"But for those of us who were investing in tech and tech startups back in 1999-2002, that time will forever be etched in our minds".
The Oanda representative echoed this critical sentiment later on Monday, telling MarketWatch that BTC's recent price action "isn't normal nor positive", adding that investors in this nascent market should beware of market soothsayers, who he dubbed "false prophets".
In any case, this price crash is somewhat of an anomaly in Bitcoin's history, as the cryptocurrency has typically performed well towards the end of the year.
Yu said that his mining units are likely to remain in operation, and the machines could possibly "acquire more coins as others have temporarily stopped running their machines".
At the time of this writing, the Bitcoin price is trading at $3868.19 and is down by 10.34 percent with a market capitalization of around $67 billion as per the data obtained from the CoinMarketCap.
Sonny Singh, Chief Commercial Officer of Bitpay, a Bitcoin payment processing company, agrees with Novogratz that $20,000 is a reasonable price target for Bitcoin by the end of 2019. At the time of this writing, the value of XRP dropped by 13 percent and now it is trading at a price of $0.34 with a market capitalization of $14 billion.
Questions around Bitcoin's vulnerability have arisen following increased global pressures to regulate the cryptocurrency, with Financial Conduct Authority (FCA) executive director Christopher Woolard saying recently that the Treasury "will undertake one of the most comprehensive responses globally to the use of cryptoassets for illicit activities".
The post Bitcoin Bounces Off $3,500, Analysts Skeptical That Crypto Bottom Is In appeared first on NewsBTC.
As we can see, the price of Bitcoin has been seeing a downward trend over the last 11 months. Investors seeking to trade Bitcoin Cash SV [IOU] should first purchase Ethereum or Bitcoin using an exchange that deals in US dollars such as GDAX, Coinbase or Gemini.
Sakura Bloom (SKB) traded 21.9% lower against the dollar and now trades at $0.0016 or 0.00000042 BTC. However, many point it to Craig's vision on the coin after the split and the fact that he has pulled out from the hash rate war which Bitcoin Cash SV seemed to be losing.