Bitcoin depreciates if it is not taken in the world as a means of payment

Bitcoin depreciates if it is not taken in the world as a means of payment

As previously reported, the bitcoin rate has lost almost 40%, stopping at around $ 13 thousand. The situation does not improve, experts say, and even soon it can become much more serious. If bitcoin is not accepted as a means of payment around the world, its rate may drop to zero.

At the moment, bitcoin is not an international means of payment, and it is received by very few countries. As reported in Morgan Stanley, out of 500 of the world’s largest online retailers, bitcoin as a settlement means accept only three of them. This is a clear indicator that bitcoin is going through not the best of times, even though many sources report the great reliability of this cryptocurrency. Invest in bitcoin is becoming more dangerous and unreliable. Bitcoin in the rather soon future can completely depreciate.

A low volume of trading in cryptocurrency will also contribute to the depreciation and price of the coin. The daily trading volume of bitcoin is currently about $ 3 billion, while the average daily trading volume in the global foreign exchange market is about $ 5.4 trillion. Impressive difference between the volumes of trading in fiat money and bitcoin. The bitcoin network also does not have large volumes of transactions: the daily volume of bitcoin transactions is $ 300 million, while on the basis of the Visa system, about $ 17 billion is spent every day.

"Is it possible to consider bitcoin currency? No. There is no interest rate associated with bitcoin. Digital gold? Maybe. But for him, there is no practical application, while gold is used in electronics and jewelry. However, investors, apparently, attribute to him some value. Is it a payment network? Yes, but it’s very difficult to scale and not take commissions for transactions," - analyst of investment bank Morgan Stanley James Fawcett thinks.

Specialists and analysts are already very unsure of the bright future of bitcoin. This cryptocurrency begins to lose ground, and over time this situation will only worsen. Therefore, it is very dangerous to invest in cryptocurrency units. Investors are advised to turn their attention to venture funds and investments. This is a safer way to multiply your deposits. Investing in startups that are under the trusteeship of venture funds is the most profitable way to make money. Hypercube Ventures offers you the most promising projects in your areas, which have great chances of success. You do not need to spend nerves and forces to understand the mechanism of the investment, the venture fund Hypercube Ventures will take care of this for you.

As previously reported, the unprecedented drop of the cryptocurrency leaves investors with no money.