The bitcoin the verge of collapse: what will result the redistribution of the cryptocurrency market

© RIA Novosti / Vladimir Astapkovich in photobacteria coin cryptocurrency bitcoin Bitcoin MaRSe Center in MoscowThe bitcoin the verge of collapse: what will result the redistribution of the cryptocurrency market© RIA Novosti / Vladimir Astapkovich the image Bank

MOSCOW, 14 Nov — RIA Novosti, Natalia Dembinski. In August, the most popular and most expensive cryptocurrency in the world, bitcoin is divided into two: Bitcoin and Bitcoin Cash Classic. So it was decided to make in order to optimize the system for mass users. Just recently, the classical rate of bitcoin has fallen by almost 30%, and Bitcoin Cash, by contrast, has risen by 35% on Sunday reaching the level of $2426. Soon after the bitcoin started to win back losses, and the «cache» bit corrected. However, the developers of Bitcoin Classic did not rule: by may 2018, it will cease to exist, and the main currency will be Bitcoin Cash. C what is the upcoming redistribution of the market of cryptocurrency, whether to wait for the Grand collapse of the course and whether it will bring the burst of the bitcoin bubble — in the material RIA Novosti.

What happened

The Classic Bitcoin crashed to $600 to $6720, on Saturday just a few hours. In General, for two days, the cryptocurrency fell by $1000, although on the evening of 8 November reached a new historical maximum of $7880. This happened after the organizers hard forks SegWit2X abandoned their plans.

The second division of bitcoin SegWit2X was scheduled for November 16 — was supposed to be another bitcoin, which, as expected, will be the core. Agreed with key market players and miners. But, according to observers, the closer the day x community raised concerns, not like is it an attempt on the part of some large companies to make a bitcoin.

So now Bitcoin is experiencing Cash basically speculative growth — affects speculative interest in the currency and the influx of new investors who are rocking it in price. But if the Bitcoin Cash will grow for four to five months and will begin to around the classic bitcoin and capitalization, and the technology, it will be a precedent for the market of cryptocurrencies and classic bitcoin will inevitably become cheaper.

If the bike will collapse

According to Bragin, we are not talking about that one cryptocurrency completely drown the other, rather they can coexist.

«Now the exchange rate of bitcoin fell nearly to the same extent increased the rate of Bitcoin Cash, which suggests that they are — complementary pair», — notes the analyst.

When the bubble burst

In the near future, a sharp drop of Bitcoin value to minimum will not occur, the cost can vary from five thousand dollars and above, and when will the «bitcoin cache rush», the rate may again go up, says the founder of Universa blockchain.

In his view, the current situation is not a harbinger of the collapse of the bubble. Bitcoin Cash can’t replace a classic Bitcoin until he at least shows a steady capitalization: first, the currency ahead of Ethereum, then there was a sharp decline. The cost of conventional Bitcoin returns its position after the crash.© Fotolia / adrianbysiakЗолотой bitcoinThe bitcoin the verge of collapse: what will result the redistribution of the cryptocurrency market© Fotolia / adrianbysiakЗолотой bitcoin

«We expect that currency will continue to strengthen in coming months may rise up to 9000 dollars», — predicts Borodich.

Experts indicate that the recent drop in Bitcoin Classic is within the rising channel that began in April 2017, and the cryptocurrency fell to the bottom of its channel growth. Thus, if bitcoin drops below 5500, it will probably fall further.

«Just as in the case of the dot-com boom — up to a certain level, all believed that it should be, and then it became obvious that it was a bubble. So now, if Bitcoin Cash prove their worth and will be the main currency, then its price will rise, and the rate of bitcoin will fall. How — that’s up to the market,» — said Bragin.