The appearance of Bitcoin in the cryptocurrency market had heralded an era of rapid development for these new-style currencies. Bitcoin, which is today the number 1 reference in the sector, is one of the most influential virtual currencies. Widely adopted on the web, she continues to intrigue. Its operation, which continues to raise questions, is still only partially understood by Internet users. Digital currency, which has suffered a monumental decline in value, has repeatedly shown that it is still fragile. The hacks, which have been numerous since 2017, are among the factors that reduce its performance.
A currency sensitive to the news
Since the beginning of the year, the course of Bitcoin has been much in the news. The digital motto is surprising with its bursts, as well as its endless drops. In January, the currency still seemed to want to reach its highest peaks. Less than 4 weeks later, however, Bitcoin lost its value, registering a depreciation that was difficult to predict. Since then, cryptocurrency has steadily declined in performance, losing many of its early followers. A few months earlier, Bitcoin also suffered significant losses following the hacking of Yobit, a platform specialized in the exchange of digital currencies. At the time, the devaluation revolved around $2000, making Bitcoin one of the crypto-currencies that lost the most points in such a short time.
More recently, the hack of a renowned Korean platform has initiated a further decline in this value. Bitcoin, which is also one of the most sensitive cryptocurrency, could only see a new loss of points consequently. Already very close to the interesting minimum amount, Bitcoin had not managed to restore its rating, despite increased attempts of valuation. A few weeks ago, the suspicion of manipulations on the tether ended to complete its passage to lower and lower courses.
These suspicions, which have been mentioned in studies, have shown that the outbreak of Bitcoin in 2017 was the result of fraudulent practices. The theory was scattered like a trail of powder, further reinforcing the bad reputation of this cryptocurrency. In a few months, it was found that the currency could not keep a constant value, and that it was based largely on the news surrounding the cryptocurrencies.
A massive loss of confidence
These highs and lows certainly influenced the course of Bitcoin.A Cryptocurrency, which is often the first victim of fraudulent transactions on other cryptocurrencies, now has holders experiencing massive loss of confidence. Indeed, crypto enthusiasts who hold these currency are afraid of losing lots of money during hacking, and not being able to recover their initial investments. If cryptocurrencies divide, Bitcoin is the one that records the most marked variations. A fear that may seem legitimate, because no platform can really guarantee the security of digital assets in the face of an attack.