Bitcoin Watch – Bitcoin hovers above USD7,000 but expected to drop even further

Bitcoin’s continued decrease in value is expected to get even worse according to Swiss researchers in an MIT Technology Review on 29-Mar-2018. According to the paper, “the growth of new active bitcoin users is slowing, which by “Metcalfe’s law” indicates that the cryptocurrency’s market capitalisation will not grow as quickly as it has. Looking forward, our analysis identifies a substantial but not unprecedented overvaluation in the price of bitcoin, suggesting many months of volatile sideways bitcoin prices ahead.”

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