Cryptocurrency expert Andreas Antonopoulos said on Twitter : "There was a chain re-organization in the Bitcoin blockchain. This is a common occurrence that is part of Bitcoin's normal operation.
Advocates say cryptocurrencies are fast becoming safe-haven assets that can protect investors' portfolios against the risk of inflation and currency devaluation triggered by the unprecedented fiscal and monetary stimulus unleashed during the coronavirus pandemic. They point to a growing number of institutional investors showing interest in Bitcoin. BlackRock on Wednesday moved to add Bitcoin futures to two of its funds , highlighting the demand for the currency. Yet regulators and critics have warned that cryptocurrencies like Bitcoin have no fundamental factors driving their value and are highly volatile, meaning investors could "lose all their money".
Nonetheless, market interest has picked up sharply in recent months. Some analysts said the recent fall could be an opportunity. Craig Erlam, senior market analyst at currency platform Oanda, said: "We may see a small rebound now, just as we did earlier this month.
It will certainly be an interesting watch over the coming weeks. This article was updated to highlight that the report that suggested a "double spend" occurred was widely rejected in the Bitcoin community.
Bitcoin on track for biggest weekly fall since September as Janet Yellen and 'double spend' report spook speculators. Harry Robertson. And then really December to early January, we doubled again.
VACINE EM CASA
So I think this is a healthy phase of consolidation for the market. I think, given that you know this market is still very much in its adolescence, it's hard to attribute price activity to specific factors. One interesting thing about the blockchain is that you can actually look at the data and you can see where the money is moving, there have been some reports recently that show there's actually some underlying bullish trends on the network where investors are moving coin off exchange.
Typically what you see is investors move coin on exchange as a precursor to selling.
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So I think this is just some healthy profit-taking and some consolidation. So it's an extremely large institutional contract. We did that on purpose.
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We did not want to attract the small retail participants into that new asset class, but we are trading a couple billion dollars of notional a day, each and every day of our bitcoin contract. We're seeing record open interest and trade in it.
Bitcoin (BTC) Price Outlook - Trying to Stem Recent Heavy Losses
There's a lot of interest in this and so we announced that we're going to list ethereum futures coming up in February. We're excited by that. But again, we're going to take the approach that we're going to walk before we run when it comes to these cryptocurrencies. We understand there's still some concerns by some people out there and rightfully so.