Bitcoin atm sydney - MiningcoinTop

Bitcoin atm sydney

US11,000 mark — briefly — as it continues its whirlwind end to the year. It’s more than welcome news to investors, who are embracing the increasing value of the digital currency, but market analysts are bitcoin atm sydney bit more sceptical. Here’s why some are predicting a bitcoin crash and what would happen if it does.

US10,000 after its value more than doubled since the beginning of October. The bitcoin phenomenon is almost unprecedented,” John Noonan, senior forex analyst at Thomson Noonan, said. I’ve never seen anything like it, certainly in my 44 years. US214 billion, according to industry website Coinmarketcap. Mr Noonan told ABC News Breakfast there are a few reasons that make bitcoin an attractive bet to some investors, including the fact it does not have a central bank and that there is a limited supply of bitcoins. We asked if you were worried about a bitcoin crash.

Read the discussion in the comments. One of the other factors credited with driving the prices higher has been the announcement that investors will soon be able to bet on bitcoin futures. Even the Nasdaq is reportedly looking at getting in on that. There’s also a great deal of hype going on, fuelled somewhat by the intense media coverage it’s been getting lately. Can’t tell a bitcoin from a blockchain?

Read our explainer to see how the cryptocurrency works. They appear to see it as a risky investment at best, extremely volatile at worst. It’s why analysts are comparing it to Tulip Mania and the dot-com crash. Bloomberg’s Stephen Gandel has even estimated that based on valuation, bitcoins are four times more expensive than dot-com stocks were at the height of their bubble. Over the past two years, the digital currency has experienced numerous crashes, usually every couple of months. So what would a bitcoin wipeout look like? If there was a catastrophic fall in prices, there would be winners and losers.