yobit.net вход yobit.net вход
Federal Reserve Bank: Altcoins are the primary reason for bitcoin price fall.

Federal Reserve Bank: Altcoins are the primary reason for bitcoin price fall.

A blog published by the Federal Reserve Bank of St.Louis explains the three likely possibilities of the future of bitcoin. These are

  • indefinite increase in value,
  • zero

or

  • somewhere in between

According to the bank, they believe that bitcoin will be somewhere in between. According to the writers, the major element that is bringing down the price of bitcoin is the increasing supply of altcoins or bitcoin alternatives. The bitcoin market is quite volatile and the demand for bitcoin is the only reason for the price increase and decrease and not the fixed supply. If there were no alternatives to bitcoin or if there were no altcoins then probably all the money currently in the cryptocurrency market would have been invested in bitcoin solely.

According to the economists are the Federal Reserve, if a restaurant sells meals for $10 that is equal to one Hamilton bill ($10) or two Lincoln bills ($5+$5). If the supply of Lincoln bills is increased, that would not change the current scenario of the ratio of 2:1 between the two bills.

What’s the real value of bitcoin?

The price of bitcoin and other altcoins is still undiscoverable. According to some analysts, bitcoin price increased massively due to the hype created in 2017 which also increased the price of other bitcoin alternatives or altcoins while others believe that it was just a coincidence. The use case of bitcoin is one of the prominent reasons for the mass adoption and the price increase. Institutional investors are still in their early phases of investing in bitcoin and altcoins. The increase in the institutional interest will thrive the price of bitcoin in the future. With the adoption rising with things like the BAKKT exchange, NASDAQ bitcoin futures and bitcoin ETFs being launched, this would eventually increase the demand for bitcoin and in due course of time, the price of bitcoin is likely to experience a bullish momentum.

Joyce Lang

View Comments

  • Thanks for the marvelous posting! I actually enjoyed reading it, you're a great author. I will make certain to bookmark your blog and may come back from now on. I want to encourage you to definitely continue your great job, have a nice holiday weekend!

  • It's going to be ending of mine day, except before ending I am reading this wonderful post to increase my experience.

  • Do you mind if I quote a few of your articles as long as I provide credit and sources back to your site? My blog is in the very same niche as yours and my visitors would certainly benefit from a lot of the information you present here. Please let me know if this okay with you. Thanks!

  • Magnificent beat ! I wish to apprentice at the same time as you amend your website, how could i subscribe for a blog web site? The account helped me a applicable deal. I had been a little bit familiar of this your broadcast provided brilliant transparent concept

Recent Posts

Bitcoin Price Analysis 19 June, BTC to $10000 today?

General Introduction (Bitcoin Price): Yesterday (June 18), most of the top 20 cryptocurrencies report moderate losses on the day, given…

3 hours ago

Ethereum Price Analysis 19 June, Can ETH reach $305 today?

Ethereum ETH USD Dominant Trend: Bullish Resistance Levels: $285, $295, $305 Support Levels: $245, $235, $225 Ethereum (ETH) tried to…

3 hours ago

Ripple Price Analysis 19 June: XRP is Bullish

Ripple XRP USD Dominant Trend: Bullish Supply Levels: $0.47, $0.48, $0.49 Demand Levels: $0.39, $0.38, $0.37     The value…

3 hours ago

Five Reasons for the Current Rise of Bitcoin Price

During the course of the weekend, Bitcoin, the top cryptocurrency by market cap spiked to $9,000 for the second time…

19 hours ago

Litecoin Price Analysis, 18th June: LTC about to crash?

LTC/USD Dominant Trend: Bearish Resistance Levels: $145, $150, $155 Support Levels: $120, $115, $110   Litecoin Price Analysis Litecoin price…

1 day ago

Ethereum Price Analysis, 18th June: ETH Reaching Crucial Level

ETH/USD Dominant Trend: Bullish Resistance Levels: $295, $300, $305 Support Levels: $240, $235, $230   Ethereum Price Analysis In recent…

1 day ago

This website uses cookies.