Infighting and Regulatory Pressure Pushing Crypto Market Back to 2017

Bitcoin bubble floats to inevitable end

The next Bitcoin bull run is probably what every BTC investors and crypto enthusiast would like to hear about, especially these days when the cryptocurrency market is seen in a more than obvious dip.

All of this could be potentially impacting the crypto markets but there is no way to know for sure as of yet.

Amusing how CNBC's Fast Money panel crawled out of the woodwork to talk crypto on Monday, as Bitcoin (BTC) fell to establish new year-to-date lows.

When an overwhelming number of cryptocurrency investors thought it couldn't get any worse, it did.

Another clear driver is the ongoing Bitcoin Cash civil war - mining devices configured for Bitcoin Cash also serve Bitcoin, and as the former is attracting a much greater amount of network power than is usual, Bitcoin is suffering. Most indicators have bottomed out and reached new lows we haven't seen for a long time on Bitcoin.

Recently, two analysts from ICO advisory firm, Satis Group, predicted that bitcoin prices will hit $96,000 in the next five years.

Bitcoin is now trading to its low valuations in the last one year. The virtual currency has enjoyed a period of relative stability since early September, hovering between $6,000 and $7,000.

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Others blamed fears that last week's "hard fork" in bitcoin cash, where a software upgrade split the fourth-biggest coin into two separate currencies, could destabilise others. When one cryptocurrency falls, others tend to fall as well. The token is trading at around $0.45, with nearly no loss in its value for the week.

The cryptocurrency business has lost over $660 billion in value in the January summit, based on information from Bitcoin Cash is now called Bitcoin ABC and the new fork is called Bitcoin SV, meaning "Satoshi's Vision".

"Digital currencies and assets are the future of transactions and value storage, and Bitcoin is leading this revolution".

The weekend's losses are a continuation of last week's selloff.

Based on current market conditions and the intensity of the drop over the last 24 to 48 hours, Bitcoin Cash and other major cryptocurrencies are expected to drop further in price, with BCHABC eyeing a test of $180 for the first time in its 15-month history. Behind the cryptocurrency's drop could be a large token movement that seems to show a large holder is dumping tokens.

"Price tells us the trend has been bearish since crypto's parabolic move and top in 2017".

Olga Feldmeier, CEO of Smart Valor, said: "it can easily go to $100,000 by the end of the next year [2018] and possibly even beyond".

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