Bitcoin Price Drops to $4,300, What’s Next: Factors and Trends

Subsequent to achieving a new all-time high at $4,975 merely two days ago, Bitcoin price has decreased to around $4,350.

Many analysts including Welt financial desk senior editor Holger Zschaepitz attributed the decline in Bitcoin price to China’s recent crackdown on initial coin offerings (ICOs).

Over the past week, prominent financial analysts such as RT’s Max Keiser predicted Bitcoin price to increase at an exponential rate in consideration of the successful integration of the Bitcoin Core development team’s transaction malleability and scaling solution Segregated Witness (SegWit).

Through SegWit, the Bitcoin network has already shown tremendous progress in terms of scaling, reducing its average block size to 0.8 MB and its mempool size from over 140 mln to 10 mln bytes.

Full story at http://bit.ly/2wBiXPl

Source: CoinTelegraph

 

 

 

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