Keynesian economists argue that deflation is bad for an economy because it incentivises individuals and businesses to save money rather than invest in businesses and create jobs.Read more
There is no word on whether or not TigerDirect will be keeping a percentage of the bitcoins that they earn from sales through the Bitcoin payment networkRead more
: We dont know where they bear markets end. Brian Kelly, the founder and CEO of digital currency, focused firm bkcm LLC, said that Bitcoin is undoubtedly not dead and that this is not the funeral for bitcoin whatsoever, further rightfully arguing lets put this in perspective. But this is by no means the funeral for bitcoin. On the positive side, Bitcoins narrative, the psychology of the average investor and the still relative early stage on the adoption curve, suggest the correction may not be as severe as what occurred in 2011, 20Furthermore, the same positives may provide a corrective phase that. The overall cryptocurrency market valuations have also just moved over 251 billion. This months 20 percent correction in bitcoin is tolerable, given the major corrections it had experienced in the past 12 months. It would be however disingenuous to ignore that after the torrid appreciation of the last few months, Bitcoins technicals are screaming extreme overbought. Novogratz is said to be investing 10 of his own personal wealth in this project.
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Any other time when we had such divergence (red shaded areas) a massive correction ensued. Major Correction, other major cryptocurrencies such as Ethereum and Bitcoin Cash also recorded corrections in the 50 percent range last year, with the price of Ether, the native cryptocurrency of Ethereum, dropping from 360 to 130. The price is now almost 80 above of the long term trend (red line). With China, the worlds largest remittance market, having banned bitcoin, the next big market in terms of remittance and e-payments is India. Do you know where we were a year ago? Blockchain projects with no products and users, solely with whitepapers with technobabble reached multi-billion dollar market caps.