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For the vast majority of cryptocurrencies there are no fundamentals to talk about, other than a website with a message that promises to make capitalism better.
For major cryptocurrencies like Bitcoin, there’s some information to make both a bullish and a bearish case.
The case is about the advantages Bitcoin has a “headless” currency. "Increasingly widely accepted as a means of payment with no bank intermediation and absolutely no fees, Bitcoin has some of the attributes of a headless currency.
Then there’s the rarity of the cryptocurrency and the low ownership rate, which explain its price spike, and the potential for further gains. “The relative rarity of the virtual product explains its rise in large part because only 0.01% of the world population own any,” adds Pichet. “Therefore, one can imagine the effect on its trading price if the primary cause of speculative bubbles, namely FOMO (Fear Of Missing Out) were to spread to a mere 1% of the world population, or 100 times more holders.”
The bearish scenario centers on two major threats which cryptocurrencies face. One of them is an intrusion in the blockchain system and the circulation of fake coins. Another threat is a concerted effort by governments around the world to ban their use.
Bitcoin plunged underneath $10,000 this week, half what it was worth at its pinnacle, since financial specialists and anxious controllers may cinch down on the unpredictable digital currency. The cost of bitcoin, the world's greatest and best-referred to digital money, tumbled to as low as $9,500 on the Luxembourg-based Bitstamp trade, the most reduced since December 1. (Source: Fox Business)
Why this is vital for your business: Bitcoin may have multiplied in esteem. Yet, that is the point. Advanced monetary standards are completely the future and in case you're maintaining an independent company you have to give careful consideration in the matter of when you'll begin tolerating these in some frame. In any case, given the extraordinary instability of these advantages that time is still far later on.