Dan Morehead, CEO of Pantera Capital, a hedge fund focused on digital currencies, has told CNBC that Bitcoin may drop 50% before pushing to new highs. Morehead.Bitcoin sell-off deepens, digital currency now down 50% from recent peak as Dow closes above 26,000.
This rate will drop sharply in 2020, when the next reward halving occurs.
Bitcoin News - CEO of Pantera Capital, Dan Morehead, a hedge fund concentrating on digital currencies, has told CNBC that Bitcoin might drop 50% before crossing the new high.Since the block reward is the main source of income for Bitcoin miners (and Bitcoin mining itself comes at a significant cost), many expected to see a drop in hash rate after the halving.Bitcoin is a risky investment that could easily plunge 50 percent next week to levels seen only last month, said a former hedge fund strategist who is now a digital.At the end of 2017, bitcoin had shot up to 20 times its value since the beginning of the year.
And there is no recourse because Bitcoin is unregulated. 51 Percent Attacks.As highlighted in about everything you read, bitcoin is a risky investment.
An analyst says that bitcoin mining under the current price is likely to be profitable under any.Some predicted the hash rate could drop by up to 50 percent, proportional to the drop in block reward.Over the past two days, the valuation of the cryptocurrency market.
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