Crypto | Bitcoin: the volatility of the last weeks opens the debate about the future of the currency

 

Everything indicated that the bitcoin was going to end triumphantly in 2017, when it touched the US $ 20,000. However, it lost 30% in the last fortnight of the year. And when it seemed that the bubble had been punctured, the virtual currency started 2018 recovering 25% in the first seven days of January. Thus, so far this year, bitcoin had a peak of US $ 17,712, a minimum of US $ 6048 and at the end of last week quoted at US $ 8211. Volatility in its maximum expression.

 

"In this area, not everyone is for the price or the speculation, we enjoy it if it goes up, we regret if it goes down, but in reality we do not care much"  - Rodolfo Andragnes, president of the NGO Bitcoin Argentina.

"No bitcoiner imagines that bitcoin will prevail without a fight, so the fact that some states are trying to regulate it does not worry us, because we believe that this cryptocurrency, being more useful, reliable and efficient than the traditional system, is it will end up imposing "

Andragnes explains that bitcoiners do not run or hope to win today or tomorrow, but they know that the change is going to take place, and that it will take time. At this time, he says, he is more concerned about the development of the bitcoin transaction system and once again minimizes the run: "There are 100 speculators and there are five who understand," he concludes.

Maximiliano Carjuzaa, founder of MoneyOnChain, has been researching the blockchain technology on which bitcoin is based for six years, and says he has several years of volatility left, since it is a very new asset and it is natural that waves of adoption generate these strong increases and subsequent corrections.

"It's not the first time it happens, rather the fourth, and it will not be the last," he predicts.

 

Alejandro Sewrjugin, an economist at the UBA, points out that there is a very strong pressure from many actors in the economy on bitcoin since the end of December 2017. "We are trying to put not very smart taxes and regulations on cryptocurrencies in many countries with a great ignorance about how this technology works, "he warns. The economist believes that the only ones affected by the fall of recent days are those who wish to speculate daily with the quote, because they still do not understand where the true value of the model lies, and that the importance of bitcoin lies in laying the foundations for a new way to understand and manage the global economy through technology and global algorithms. "There lies its value, which transcends the price of a certain moment," he says.

However, qualified sources of the financial environment worldwide are radically opposed to cryptocurrencies. This is the case of the CEO of J.P. Morgan, Jamie Dimon, who called bitcoin a "fraud", and Warren Buffett himself, who declared that digital currencies "will come to a bad end"

 

What do you think about cryptocurrencies?

 

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