Bitcoin Prices Start Dropping Because of Many Rivals

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In 2017 the exchange rate of Bitcoin moves up and down very quickly. Based on CoinDesk, Bitstamp, Coinbase, itBit and Bitfinex, the value of a Bitcoin piece in 2017 was shot to a position of US $ 19,783 per chip, equivalent to Rp 267.7 million (exchange rate Rp 13,500), but slumped back to US $ 13,889 per chip or Rp 187.5 million.

According to sources from CNBC this price drop also occurred before the seller was sold by the seller. In addition, the decline also occurred because the interest of digital money users began to shift to other money such as ethereum, Ripple to litecoin.

One of the new digital money, Ripple on December 1, its market capitalization rose and controlled 3 percent of the market cap of all crypto currencies in the world. Then on Tuesday (2/1) Ripple market capitalization rose 14percent, then for the price rose 36,000 percent since 2017 and ranked second cryptocurrency based on market capitalization.

Bitcoin or digital money does create pros and cons for the financial and business industries of the world. Last year, JP Morgan CEO Jamie Dimon briefly mentioned Bitcoin as a 'fraud' tool. Then an editor from Gartmant Letter mentions that Bitcoin can be sold at a price below US $ 5000.

But there is a pro against Bitcoin, Director of Octagon Strategy's cryptocurrency trading firm, Dave Chapman explains the price of Bitcoin is predicted to be shot to the position of US $ 100,000 before the end of 2018.

Bitcoin's market capitalization stood at US $ 231.8 billion, or 36.1 percent of all cryptocurrency transactions in the world. However this is the lowest value in the history of Bitcoin transactions. Bitcoin had recorded the lowest capitalization of 37.6 percent in June last year. However, it also increased to more than 80 percent.