Bitcoin and crypto Currencies

Bitcoin and fellow crypto currency prices are crumbling, and investors are asking why the precipitous fall is occurring, and when it will stop?

The recent acrimonious Bitcoin Cash ‘hard fork’ may also have contributed to the uncertainty.

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Bitcoin and crypto Currencies

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Bitcoin and fellow crypto currency prices are crumbling, and investors are asking why the precipitous fall is occurring, and when it will stop?

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The recent acrimonious Bitcoin Cash ‘hard fork’ may also have contributed to the uncertainty. A tiff between the two groups of BCH communities (Bitcoin ABC and Bitcoin SV) led into an ideological debate.

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The hard fork finally took place on November 15, 2018, resulting in two competing chains Bitcoin ABC and Bitcoin SV. (Satoshi version). As a result, the value of BCH has suffered just as much as the rest and the hash rate war caused serious uncertainty in the market and this might be the reason for cryptocurrency market crash. 

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Another reason is that the hash rate (mining) for Bitcoin has become uneconomic for many miners due to the low price (currently $3,450), against the cost of mining a bitcoin at around $6,000, due to high electricity costs.   Many mining servers are now for sale on Ebay

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As we continue into December Bitcoin and crypto prices remain subdued and are still falling, one wonders when the bottom will be reached?

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