If you are following the price of the digital currency of your home, you will notice that it has been experiencing a strong fluctuation recently. After reaching $ 4720 earlier the previous week, it lost $ 1000 in a few hours to fall to $ 3750 and then its value rose again to $ 3177. $ 4600 and $ 3,500.
A scenario different from what I used to see in the international financial markets. Stocks and conventional currencies do not always move with such strength. Changes are usually weak to reasonable. Only in times of crisis and volatility can you see indicators losing half or more in hours.
Of course, there are three reasons why the strong volatility of the price of KFH between the rocket rise and the fearful decline will be logical and will continue for a long time, and the same can be applied to other digital currencies.
- The size of the digital currency market is still small
There are now hundreds of digital currencies in the world with a total market value of $ 68 billion, of which $ 34 billion is for PeteChoen and $ 14 billion for ethrium, and the rest is distributed to the rest of the digital currency.
Compared to global exchanges and traditional currency markets, we compare a small ant to a giant elephant. The New York Stock Exchange alone has a combined value of $ 20 trillion, not combined with the rest of the world's stock exchanges.
So the size of the digital currency market is still small and speculation and the withdrawal of funds or pumping can be clear and affect the value of the target currencies, and this is a fact.
- The spread of the belief that we are on the threshold of a new collapse of the currency of bitcoin
The recent rise in the value of KFH has prompted us to say in previous articles that this rise could be followed by a painful and significant fall for this currency.
And the truth is not alone in looking at it from this angle, foreign media and money and investment experts are warning of the bubble burst.
This pushed many as soon as KFU reached $ 4,750 to sell and make very good gains, so that their value fell dramatically.
At the same time there is more mining for this currency and pumping money from investors who believe it will hit record highs in the coming period like $ 5100.
- Blockchain technical problems are an additional cause
With the huge turnout of Betcuen and digital currencies, many foreign media have confirmed that Blockchain has many real problems.
This has increased the processing time of digital operations, with the average time taken by the Betquin treatment to 43 minutes, and the number of operations has not been essentially verified and unfortunately passed.
It is known that when paying for a product or service or performing a physical transaction on the Internet with KFH or any other digital currency, such transactions and transactions are verified on Blockchain.
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yeah I think that while there is so much grey area about whether crypto is here to stay or whether governments will intervene I think the fluctuations will continue to be very large. Its hard to value something that is changing so constantly
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Great post, very tru
I am definitely guilty of watching the prices way too often and too many times per day, haha. It consumes my time at workπ°π±
Wow , you have lots of patience @michaelmorcos !!
Thanks @michaelmorcos they are really cool aren't they
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Sentiment flucturates Bitcoin, nothing else. Here is how it'll sentiment up to $9,000:
