Bitcoin loses strength in cryptocurrency market

Oct 16, 2019

Bitcoin has fallen more than 30% since reaching its peak of 2019. Although some experts point to new contracts from Intercontinental Exchange Inc as one reason for the loss of value, Indexica has presented another view. The information is from Bloomberg.

According to the predictive index developed based on data from August 1 to October 1, the fall of Bitcoin is related to the growing cryptocurrency ecosystem. Apparently, value changes are being driven by competing virtual currencies and new blockchain technologies.

For Zak Selbert, CEO of Indexica, Bitcoin's sensitivity to competitive growth is just another sign of technology maturity. “Now that Bitcoin is almost an adult, anything can make it move, just as anything can make gold or the G-10 coin move. Bitcoin is part of the financial landscape in a very interconnected and mature way, ”explained the expert.

Last Friday (11), only three cryptocurrencies of the top 20 in the market showed gains. Bitcoin traded for approximately $ 8,355.



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