Telegraph - Wednesday August 23, 2017
Bitcoin a digital Cryptocurrency prices sink below at $4,000 after gaining top high following the event of split of this currency called 'hard fork'. This split has divided this digital currency into two competing Cryptocurrency.
Last Thursday on 17 September Bitcoin gained a record high value of $45,00, but now after seven days the price hit low at $3,977. It shows the uncertainty of the Bitcoin currency in the market, and it risky for the investors to invest in such unstable currency.
CoinDesk reported the view of Mike Kayamori, CEO of Japan-based bitcoin exchange Quoine, he took the Bitcoin sink below $4,000 is a sign of unity, not an alarm. He finally said, " [The market] could go lower, but the next big date will be the Segwit2x in November."
In 2016 August the Bitcoin market value was sharply dropped, when an hacker stole from Bitfinex (is a crypto-currency exchange trading and currency-storage platform based out of Hong Kong and owned and operated by iFinex Inc.) £29 million worth ((PKR. 3917937337.50) digital Bitcoin currency.
The Telegraph’s Technology Editor, James Titcomb said, "It’s hard to look at bitcoin’s price now without wishing one had invested years ago - £2,000 invested five years ago would make you a millionaire by now. "
He also added that "But there are now clear warning signs - its price fell by $400 in one day [in May], for no discernible reason. While the party may continue for a while, it’s just as likely to end spectacularly. "
Bitcoin has become the tool of the private anonymous transaction, it is a payment choice for drug deals and other illegal purchases activities. It is money which is free from government control and fees bank charges. Satoshi Nakamoto invented it in 2008 and it went online in 2009. There is lot of attempt to identify Satoshi but all in vain. Now, Bitcoin that’s worth more than gold.