What will happen to Bitcoin on August 1 2017? | Why Bitcoin price is dropping?
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I think a lot of people have known about upcoming split off Bitcoin by two coins after August, 1st. All who have bitcoin in their wallet on what is happening with bitcoin on august 1st date will get 2 coins with the same amount and the same cost at the moment of split. Different experts are worried about future perspective of reversal of the rising trend in the cryptocurrency world. Fears of a huge correction faced by bitcoin traders after this event stay on many reasonable questions.
I am really enough new for cryptocurrency world and I do know a lot of technical key points which can mean a lot for future development of bitcoin. I have only a huge experience in the trading on US equity markets and I have my own economical view.
Bitcoin and any another cryptocurrency have a chance to raise if demand grows. While we see the creations of new marketplaces, crowdfunding platforms, contract jobs services, exchanges and other stuff we will continue to see increasing a demand on crypto currencies.
Total market capitalization of crypto currencies is around bln. It's much less when trading volume of marketplaces like Alibaba or Amazon. But crypto currencies can lead the internet trading in the nearest futures.
They can dominate on internet trading. And nobody is not sure what is happening with bitcoin on august 1st internet trading will dominate in the world trading very soon. Bitcoin and his newborn brother will keep a dominance in the crypto currencies trading. And while it cost some money people will continue to mine it. The fact is that the current speed of mining is much slower than speed of increasing demand on bitcoin. It's why the price raises so exponential.
I am sure that due to low capitalization of cryptomarkets against potential demand and world volume of fiat money and decentralization of bitcoin and altcoins like etherium, Dash, Litecoin, NEM and other names the volatility will stay high in the future while the size of real money and virtual money markets will not stay comparable.
Real price of bitcoin is not comparable with costs of mining or other stuff that people can try to add here to explain why bitcoin costs or US dollars. Because price of dollars or other real currency never was defined by costs of printing this money.
Only costs of debt, value of what is happening with bitcoin on august 1st nominated in this currency and what is happening with bitcoin on august 1st balance of this currency can be something related to explain cross course of different currencies and prices in the different places of our world.
And only these things can define the price of bitcoin. And if we think about how much percent of internet trading for virtual money was bitcoin it can be much bigger percent than bitcoin weights relatively all crypto capitalisation. Most investments in the crypto currencies are based on the questions: How big a market where people trade using this crypto currency?
How many services accept payments? What a speed of developing a trading with this currency? And if you'll try to answer these questions you would understand that bitcoin has a future and it will be alive after August, 1st. I have given my apologies for my language. If you hurt your eyes while you read this text I am really sorry. I work hard on my English. It's really better day to day. I will develop economical overview of crypto currencies in future.
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