Bitcoin has been dropping: when to expect it to fall to $1000. Alexander Freiberg’s comment in “Gazeta.ru”

Bitcoin has lost 30% of its value within a week. Experts attribute it to speculations in the market, unjustified expectations of players and the transition to Bitcoin Cash among investors. Analysts do not rule out that extreme fluctuations in сryptocurrency rates will continue, and some experts believe that Bitcoin can fall below $ 1,000 if China limits trade in the most popular cryptocurrency.

Alexander Freiberg

Head of Legal Consulting Department of FinExpertiza

"The decrease in the exchange rate may have been caused by the recent division of the cryptocurrency into Bitcoin (Original) and Bitcoin Cash. Bitcoin Cash is becoming increasingly popular due to the larger block size, i.e. a record in the Bitcoin blockchain containing information about concluded transactions, which makes these transactions cheaper and faster as compared to Bitcoin (Original). The modernization (increase in the size of the Bitcoin block) was recently cancelled because some supporters of the modernization concentrated on Bitcoin Cash that makes it possible to process eight times more data as compared to Bitcoin (Original). Bitcoin (Original) is based on SegWit technology which allows for improving productivity by removing non-essential data from the main chain of blocks."