{"id":4535,"date":"2018-11-19T18:18:36","date_gmt":"2018-11-19T18:18:36","guid":{"rendered":"http:\/\/www.styledeals.co.uk\/blog\/bitcoin-falls-below-5000-bbc-news\/"},"modified":"2018-11-19T18:18:36","modified_gmt":"2018-11-19T18:18:36","slug":"bitcoin-falls-below-5000-bbc-news","status":"publish","type":"post","link":"https:\/\/www.styledeals.co.uk\/blog\/bitcoin-falls-below-5000-bbc-news\/","title":{"rendered":"Bitcoin falls below $5,000 – BBC News"},"content":{"rendered":"\n
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\"BitcoinImage copyright<\/span>
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The value of Bitcoin has fallen below $5,000 (\u00a33,889) for the first time since October 2017.<\/p>\n

The fall brought the total value of all Bitcoin in existence to below $87bn.<\/p>\n

On Thursday, 15 November, Bitcoin Cash – an offshoot of Bitcoin – split into two different crypto-currencies, which are now in competition with each other.<\/p>\n

And some observers have blamed this for creating turmoil in the crypto-currency markets, with many of the digital assets experiencing falls.<\/p>\n

Bitcoin exchange Kraken said in a blog post<\/a> that it regarded one of the two new Bitcoin Cash crypto-currencies – Bitcoin SV – as “an extremely risky investment”.<\/p>\n

Bitcoin is a notoriously volatile crypto-currency.<\/p>\n

At its peak, in November 2017, it briefly hit $19,783 – which means the price has fallen by about 75%.<\/p>\n

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Media caption<\/span>WATCH: Bitcoin has fallen below the level it was at on its tenth birthday<\/figcaption><\/figure>\n

Analysis: Rory Cellan-Jones, Technology correspondent<\/h2>\n

After the excitements of last year when the price soared to nearly $20,000 and then tumbled, Bitcoin has been rather dull and stable for much of 2018, settling between $6,000 and $7,000. <\/p>\n

Sceptics like the economist Nouriel Roubini have predicted its demise, while the “hodlers”<\/a> – those who promise to hold it come what may – remained confident it was heading “to the moon” where they would drive their “lambos”. (That’s- Lamborghinis for the uninitiated.)<\/p>\n

Now it is tumbling again and while it is never safe to ascribe any one cause to a market movement, bitter rifts in the community around a Bitcoin variant appear to be to blame.<\/p>\n

Bitcoin Cash split off from Bitcoin last year after a dispute about its direction and split again a few days ago in another so-called hard fork. <\/p>\n

Its value has dropped by almost 50% over the last week. It’s confusing but think of the People’s Front of Judea versus the Judean People’s Front and you will get the picture.<\/p>\n

The result is gloom right across the cryptocurrency sector with its many altcoins. We were told that the fact that there was a strict limit of 21 million bitcoins which could be mined guaranteed that this would be a strong and stable currency. <\/p>\n

What nobody seemed to reckon with was that if you could start one cryptocurrency you could start dozens and chaos might then ensue.<\/p>\n<\/p><\/div>\n


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Source<\/a> by [author_name]<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Image copyright Getty Images The value of Bitcoin has fallen below $5,000 (\u00a33,889) for the first time since October 2017. The fall brought the total value of all Bitcoin in existence to below $87bn. On Thursday, 15 November, Bitcoin Cash – an offshoot of Bitcoin – split into two different crypto-currencies, which are now in … <\/p>\n","protected":false},"author":0,"featured_media":4536,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-4535","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general"],"_links":{"self":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/posts\/4535","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/comments?post=4535"}],"version-history":[{"count":0,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/posts\/4535\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/media\/4536"}],"wp:attachment":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/media?parent=4535"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/categories?post=4535"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/tags?post=4535"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}