The collapse of the digital money market 2018-2019!
The value of Bitcoin has fallen significantly over the past six months; the Bitcoin rate in December 2017 exceeded the psychological mark of $20,000; today the price of the coin has dropped below $7,000.
Following Bitcoin, other promising tokens continue to fall rapidly.
For example, Ripple (XRP), according to analysts’ forecasts, should have cost about $10 by September 2018, but today its market value barely exceeds $0.3.
There are several reasonable explanations for these events:
1. The governments of the largest countries in the world plan to completely take control of this segment of the foreign exchange market in 2019, this will allow them to levy taxes on user income.
For example, in Russia, tax revenues account for more than 65% of the state budget. Can you imagine what would happen if this cash flow dried up?
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After all, every year in the Russian Federation there are more and more people who leave their main jobs for Internet activities.
2. In January 2018, the 3 most important powers for crypto had a negative impact on the cryptocurrency.
2. The US legislature plans to take control of investments in digital currency.
In January, a series of hearings were held, the purpose of which was to collect information about the cryptocurrency market. In 2018, the US authorities seriously intend to publish a bill that will be aimed at 100% regulation of cryptocurrency in the country.
4. In 2018, China banned the mining of cryptocurrencies . As is known, the Celestial Empire accounts for up to 80% of mining capacity.
This led to a sharp decline in the value of tokens. 5. South Korea accounts for about 25% of all cryptocurrency transactions.
In 2018, the country's authorities announced their intention to remove Bitcoin from trading on South Korean platforms. This statement led to a prolonged decline in all promising tokens.
If such plans are implemented, then only a few will be able to buy Bitcoin. This will lead to a significant reduction in cost to attract demand.
Only one cryptocurrency is promising in 2019?
In 2018, the TOP 100 cryptocurrencies lost up to 70% of their value.
Against this background, only one cryptocurrency continues to grow steadily, and it amounted to 50% from January of this year. We are talking about DigixDAO.
The token differs from its analogues in that its value depends on the price of gold. This is a full-fledged, new financial unit backed by a physical asset. DigixDAO can be seriously considered from the point of view of long-term investments. It is also worth paying attention to the intensive popularization of Bitbon assets, the specifics of which are able to bring the cryptocurrency market to a new level in 2019!
In addition, a downward trend in cryptocurrencies is not a reason to completely abandon trading in them, because you can always play short by concluding sell transactions.