Observed in 2018, a significant reduction in the price of bitcoin, and after it and other cryptocurrencies have been the result of insufficient education on the part of investors. The fundamental values of the first cryptocurrencies, however, this does not change, said the CEO of a canadian analytical research firm Blockchain Intelligence Group (BIG) lens, Morgen in an interview with German magazine Finanzen.de.
In discussions with representatives of the German investment Bank AG GBC, he, in particular, expressed the belief that the market downturn this year was a combination of factors such as a large concentration of inexperienced investors who came into the industry in 2017, regulatory uncertainty, and the known principles of supply and demand
“If we combine all these factors together, and add here the lack of understanding of the average user of the principles of the industry, we come to the reasons why we see today’s price on crypto-currencies”, — said lance, Margin.
The theory that during the bullish rally of 2017 in cryptocurrency came a large number of investors-Amateurs, who wished to capitalize on rising prices and a quick profit, was one of the most popular topics among analysts throughout this year.
With such a theory difficult to accept, because bitcoin and it have major investments are technically over the past year, obviously did not become worse.
I agree with this opinion and lance Morginn.
“The good news for us is that while cryptocurrency has value and criminals use it as a payment mechanism, our services are more than required by our customers. Therefore, in the long term, this reduction does not affect us. The fundamental basis of bitcoin remain the same”, — he added.
Earlier this week, company researchers Chainalysis said that over the period December 2017 to September this year, the volume of bitcoin transactions processed by payment processing services, decreased by approximately 80%.