3-Month Low_ Bitcoin Price Drops Below $9K _ ELEVENEWS 1 bitcoin in

GpuShack makes an interesting decision

In the case of gpushack, the alternatives are rather interesting. By dropping bitcoin altogether, they take an interesting stance. It is evident the company no longer views bitcoin as a suitable payment method. It is a vision other service providers share as well. For gpushack customers, little will change, although the delisting of bitcoin will remain in place indefinitely. Quite a severe stance, but one that also makes some sense.

Instead, gpushack now accepts three other cryptocurrencies. It’s good to see them stick with cryptocurrency as an option in general.Newly supported coins include ethereum, bitcoin cash, and litecoin. All of these options are available through the checkout process effective immediately.

Which of these three options will turn out to be the most popular, is anybody’s guess right now.1 bitcoin in all of them have a certain appeal, but they are all very different from one another as well.

Diversification is a key aspect of cryptocurrency first and foremost. This does not just apply to investing but also dealing with payments. Bitcoin is no longer the undisputed king of the castle, so to speak. Instead, it will eventually take a backseat to other and better cryptocurrencies. Whether any of these three currencies accepted by gpushack fits that bill, remains to be seen. Anything is possible in this industry, that much is rather evident.

On wednesday, a top german central banker told a conference in frankfurt that replacing cash with bitcoin and similar cryptocurrencies is too risky and inefficient to be an effective medium of exchange.

“for a stable monetary and financial system, we need no crypto-tokens, but rather central banks obligated to price stability and effective banking regulation, and we have both in the eurozone,” jens weidmann, the head of the bundesbank, said.1 bitcoin in

His remarks (german) come as other top european bankers are making aligned public statements expressing skepticism about bitcoin and related digital currencies. On tuesday, the ECB put out a graphic dubbing bitcoin not a currency but a “speculative asset.”carl-ludwig thiele, a member of the executive board of the deutsche bundesbank, recently slammed bitcoin for being too “ energy intensive.””the website digiconomist estimates that the entire bitcoin network currently consumes just over 46 terawatt hours of energy every year,” he wrote in an op-ed in the frankfurter allgemeine zeitung, a major german newspaper, on february 4.”this is almost as much as the annual energy consumption of portugal, with its population of roughly 10 million. Simply settling a transaction in the bitcoin network consumes around 427 kilowatt hours.1 bitcoin in this amount of energy is enough to supply an average german four-person household with electricity for more than a month. By way of comparison, just settling a standard sepatransfer (without the payer initiating the transfer or checking their account balance on a PC or smartphone) takes less than one watt-hour. On the whole, the bundesbank estimates that settling a bitcoin transaction uses roughly 460,000 times as much electricity as a normal transfer.”meanwhile, a european central bank official, yves mersch, told bloomberg on february 6 that the ECB is more concerned about the “social and psychological effect” that cryptocurrencies have had on some people.

“in this respect, money has to do with confidence, and that’s why we, central bankers, feel that we have a certain role to play to preserve confidence of the public in our legal tender,” he explained.1 bitcoin in “there is so much money flowing in that it’s like a gold rush—but there is no gold.”

It almost feels as if the whole world is waiting for the next cryptocurrency market uptrend. Whether or not we will see any major developments in 2018 remains to be determined at this point. If pantera capital is to be believed, however, a major bitcoin price turnaround is coming in the next two weeks. It’s a rather optimistic prediction, but it’s not impossible. TIMING THE NEXT BITCOIN BULL RUN

With so much momentum affecting the bitcoin price last week, it has become rather evident the year 2018 is anything but positive so far. With all prices crashing hard in the first six weeks of the new year, people are growing concerned about the future of cryptocurrencies. Even though such negative trends are rather common in the world of bitcoin, this recent dip is quite spectacular.1 bitcoin in percentage-wise, it’s not the worst in history, but the value dropping from US$20,000 to US$6,500 was quite scary for novice holders.

According to pantera capital, it’s only a matter of time until the market turns around again. More specifically, they predict the bitcoin price will see some major bullish momentum in the next two weeks. They initiated a 71-day countdown when the bitcoin price started slipping. They’ve calculated that bitcoin has lost 64% of its value since reaching its all-time high late last year. It is quite a steep retracement, but one that was bound to happen sooner or later.

Predicting the future bitcoin price has always been rather difficult, for obvious reasons. Volatile markets like crypto are inherently unpredictable, and no one knows for sure what the future holds in this regard.1 bitcoin in the prediction made by pantera capital may not even come true in the end, as the markets tend to do the exact opposite of what most people predict. Even so, it seems the same bearish pattern has repeated itself time and time again.

More specifically, bitcoin’s bear cycles usually result in a decline of 60% to 65%. This makes the current 64% reduction fall right into the predicted range, yet it doesn’t automatically mean we will see another major uptrend in the future. All previous bearish cycles were followed by major upswings, but it just goes to show there is a precedent for steep declines and massive bounces in the world of bitcoin and cryptocurrency. Trends are made to be broken, though, which could mean the bitcoin price may head in either direction in the coming weeks.

Moreover, it seems bitcoin’s bear markets have lasted an average of 71 days.1 bitcoin in since this downtrend began in late december, the “deadline” is set to expire in about two weeks from now. Do keep in mind this is only the average, though, and the current bearish trend may continue for quite some time to come. It is not impossible we will see a six-month bear market affecting the cryptocurrency markets. Anything is possible in this industry, and the past never predicts the future by default.

Surprisingly, pantera capital is not all that concerned about future bitcoin regulation. Instead, they welcome it as a necessary change to further legitimize cryptocurrencies. It is evident more regulation could attract even more speculators and institutional investors, even though there is no guarantee of success whatsoever. The recent sell-off has created exciting buying opportunities for those looking to get involved in bitcoin, though.1 bitcoin in only time will tell if pantera capital’s prediction comes true.