Crypto currency crashed. Bitcoin and Ethereum abruptly collapsed

KirillManhattan · Tue Jul 11, 2017 11:59 pm

The air rate, which set the historic high of June 12 - $ 401, dropped to $ 198.
In this case, bitcoin, which also for the first time in history exceeded the $ 3000 mark in June, fell to $ 2,270.
However, after the record growth of Bitcoin's crypto currency, on June 15, its value, as well as the price of another popular crypto currency, Ethereum, collapsed by 25%.

Possum577 · Wed Jul 12, 2017 6:01 pm

What's "air rate"?

And yeah, agreed with you that these things happen, but let's not confuse who's driving what. Bitcoin is driving all of this...the rise of Bitcoin was the driver behind the growth of Ether, Litecoin, and other cryptos this year...and the sell off of Bitcion was the driver behind the decline of other cryptos.

Daniel west · Thu Jul 13, 2017 9:14 am

Well, I wouldn't say that BTC "abruptly" went down. It was obvious that 3k$ price was to hyped. And now BTC has a positive trend. As for the ETH, I do not get how it managed to get to above 400$ in a first place. The collapse was inevitable, and most of the analyzers agree that it will continue falling. However, the range of predictions differs greatly. Some say it'll fall to 100-150$. Others - to 16-28$.

mjglqw · Thu Jul 13, 2017 10:44 am

As for the ETH, I do not get how it managed to get to above 400$ in a first place

Probably because of too much hype too. and big holders probably dumped at 400. Also, probably because of those ICOs dumping huge amounts on exchanges

fpivan15 · Tue Jul 18, 2017 3:18 pm

As for Etherum, it's all because of hackers attack on Ethereum blockchain, and the decision of the owner of Etherum to do the parallel branch of the blockchain.

Possum577 · Wed Jul 19, 2017 5:44 am

What's "air rate"?

And yeah, agreed with you that these things happen, but let's not confuse who's driving what. Bitcoin is driving all of this...the rise of Bitcoin was the driver behind the growth of Ether, Litecoin, and other cryptos this year...and the sell off of Bitcion was the driver behind the decline of other cryptos.
Will Bitcoin be like such driver in the future? BTC

That remains to be known! I think the answer lies squarely on if Bitcoin's blockchain can be scaled to allow transactions greater than 1mb in size, which should speed up transaction confirmation and return fees to what was previously known as "low".

Bitcoin loses its utility as a currency if people can't transact efficiently, quickly, and at a cost lower than fiat alternatives.