In less than a year, the exchange rate of virtual currencies has fallen more than 5.5 times and rises to historical lows.
The value of the best-known cryptocurrency bitcoin accounts for extremely large losses. Last December, bitcoin cost 19.5 thousand. US $ (approx. EUR 17.4 thousand) and in the last week of November it was barely 3.5 thousand.
US dollars (just over 3,000 euros). According to www.coindesk.com, since the beginning of the year the exchange rate of this virtual currency has started to drop and reached 7 thousand in the first quarter. US $ limits.
In April alone, it briefly re-approached 10,000. US $, and in the second and third quarters it balanced at 6.5 thousand. US dollars.
October 31 the world’s first cryptocurrency bitcoin has been around for ten years, and at that time, Polish cryptocurrency promoters launched an advertising campaign that said money was a means of paying for the future and that exchange rate fluctuations had many advantages.
Polish company Luno said that from traders’ point of view, frequent changes in rates are great news – they can make more money due to playing on cryptocurrency exchanges.
New price records are increasing awareness of digital currencies and raising public interest. “Who knows, if not for price records, would Poles know so much about cryptocurrencies?
As far as bitcoin price fluctuations are concerned, it should be borne in mind that this is a very young currency that has been operating in the market for less than ten years.
Clearly, clear regulation and tax rules at state level would help stabilize the price. Keep in mind that the cryptocurrency market is decentralized, with regular cryptocurrencies and tokens appearing and disappearing every day.
Of the current around 1,500 cryptocurrencies, only a few dozen are considered to be functioning in the market. As for the future of digital currencies, we cannot be sure that bitcoin will be the currency of tomorrow’s world.
The cryptocurrency may soon emerge, which will overcome the technological limitations of bitcoin, including the relatively long approval of operations, which is an obstacle to day-to-day purchases, “Magdalena Golebievska, a spokeswoman for Polish Luno, tried to convince Lithuanian residents.
Coincidentally, during the campaign, virtual currency rates did not dive down fast. As of October 28, bitcoin was valued at 6.4 thousand. US dollars