Bitcoin tanks by 30%. Again. Experts explain


We’ve seen this before: BTC has suddenly plummeted after reaching the historical high of $7,882 on November 8. At press time, 1 BTC is valued at $5,605, but no one seems to worry too much.

It’s all due to another Bitcoin cash hard fork executed at 21:00 UTC switching the blockchain to a newer 0.16.0 version. Since the switch, the now-much happier miners have amassed six blocks with no visible activity on the older network. This makes the possibility of the creation of a new cryptocurrency as a result of the hard fork a remote one.  

Bitcoin cash went up 40% since last Friday, commanding $2,426 on Sunday. According to CoinMarketCap, Bitcoin currently caps at $124 billion and there are no signs of slowing down. The research by Blockchain Capital shows that young Americans aged 18-34 are ready and willing to invest in bitcoins. Moreover, they would be more willing to invest in cryptocurrency, rather than in securities, gold or real estate. The bottom line is, whatever the mood is on Wall Street, the establishment should definitely take note.